![](../style/all/img/drapeau/grand/Canada.gif) | | Publié le 24 février 2011 | Laurion Acquires 100% Interest in 179 Mining Claim Units Contiguous to the North of the Sturgeon Riv |
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Re: News Release - Thursday, February 24, 2011 Title: Laurion Acquires 100% Interest in 179 Mining Claim Units Contiguous to the North of the Sturgeon River Project, Beardmore ON
TORONTO - February 24, 2011 - Laurion Mineral Exploration Inc. (TSX-V: LME and OTCQX: LMEFF) ("Laurion" or the "Corporation") and James E. Bond II and Russell P. Renner (collectively, "Bond and Renner") are pleased to announce that they have entered into a letter of intent (the "LOI") for Laurion to acquire an undivided 100% interest in 13 mining claims totaling 179 units and primarily located in Pifher Township north of the Corporations 100% owned Sturgeon River Project (" known as the "Sturgeon Pifher North Claims") The purchase price payable by Laurion for the Property is [$68,000] payable by the issuance of 800,000 Laurion common shares at a deemed price of $[0.085] per share to be divided equally between Bond and Renner.
The LOI contemplates that a definitive purchase agreement incorporating the LOI terms will be subject to the parties obtaining all necessary corporate and regulatory approvals.
Highlights of the Sturgeon Pifher North Claims In 1972, Augmitto Explorations Ltd. conducted a prospecting program followed by an Induced Polarization ("I.P.") survey which resulted in the reported discovery of a zone of chalcopyrite-pyrrhotite mineralization of approximately 16 to 20 ft. wide and 250 ft. in strike length in a north easterly direction, hosted in an altered, chloritized acid volcanic or rock of dacitic to rhyolitic composition. A second zone was stripped uncovering fine disseminated chalcopyrite and pyrite. This zone was located on the extension of one of the higher I.P survey anomalies over which mineralization was found to extend over a width of approximately 200 ft. A grab sample was reported to assay 0.250 ozs/ton gold, 1.43 ozs /ton silver and 3.77% copper. A program of diamond drilling was commenced in November 1972 to test the surface showing and geophysical anomalies. Three holes were drilled in the phase totaling 1,302 ft. of drilling. Drill hole reported the following results show in the table below:
Drill Hole |
From (ft.) |
To (ft.) |
Width (ft.) |
Width (m) |
Ozs /ton Gold |
Ozs /ton Silver |
Copper % |
AM-2 |
127.3 |
165 |
37.7 |
11.49 |
0.022 |
0.196 |
0.76 |
including |
127.3 |
150 |
27.7 |
8.44 |
0.033 |
0.240 |
1.02 |
Carling Gold Resources Inc. carried out a several drill programs of diamond drilling following up on a VLF-EM survey carried out in 1960 and a VLF and I.P. survey in the 1970 and encouraging gold results from the "H" zone outlined in surface trenching and diamond drilling between 1983 and 1985 and extended the "H" zone from 100ft to a 600 ft. strike length. The "H" zone is reported to be the northern strike extension of the Laurion Sturgeon River gold-bearing Marge Vein. In 1984, 155 m of Marge vein was exposed by trenching and the accumulated channel samples resulted in an average of 25 g/t gold over 0.36 m of vein width. Trenching in 2008 by Laurion exposed and additional 47 m of the Marge vein and achieved an average grade of 17 g/t over 0.47 m in channel sampling. Drill results from LME10-01 reported a high grade gold intercept of 20.20 g/t over 0.36 m on Marge Vein confirming the historical high grade for this vein. Carling Gold reported a grab sample of 21.5 g/t gold in 1984 and followed up in 1985 and 1987 with the following drill hole results:
Drill Hole |
From (ft.) |
To (ft.) |
Width (ft.) |
Width (m.) |
Ozs /ton Au |
CP84-1 |
24.4 |
27.3 |
2.7 |
0.85 |
0.130 |
CP85-8 |
57.1 |
63.1 |
6.0 |
1.83 |
0.364 |
CG/87-1 |
783.9 |
784.8 |
0.9 |
0.27 |
0.108 |
|
158 |
164.7 |
6.7 |
2.04 |
0.026 |
|
1,107.8 |
1,114.5 |
6.7 |
2.04 |
0.053 |
CG/87-2 |
177.5 |
178. |
0.5 |
0.15 |
0.152 |
CG/87-5 |
168.4 |
169.2 |
0.8 |
0.24 |
0.285 |
|
523.5 |
525.6 |
2.1 |
0.64 |
0.155 |
CG/87-11 |
1,312.4 |
1,312.8 |
0.4 |
0.12 |
0.595 |
CG/87-12 |
324 |
325 |
1.0 |
0.30 |
0.137 |
|
325 |
326.7 |
1.7 |
0.52 |
0.045 |
|
383 |
348.4 |
1.0 |
0.30 |
0.165 |
The technical information contained in this news release has been verified by Joe Campbell, P. Geo., consulting geologist with GeoVector Management Inc. Mr. Campbell is the project manager for Laurion's Sturgeon River project and he is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."
About Laurion Minerals Exploration Inc. The Corporation's focus is to make the transition from explorer to near-term producer and envisages the realization of shareholder value and wealth through monetization of its discoveries and assets. Laurion's exploration horizons are focused primarily on gold with a secondary interest in base metals and PGEs with key interests in prospective mining properties located in Ontario and Churchill County, Nevada USA.
Laurion is well-funded to complete the next phases of drilling and exploration work on the Bell Mountain and Sturgeon River Gold Projects and to successfully advance these projects, moving the Corporation closer to being a near-term producer.
FOR FURTHER INFORMATION, CONTACT: Laurion Mineral Exploration Inc. Cynthia Le Sueur-Aquin - President Tel: 1-705-788-9186 Fax: 1-705-788-9187 Website: www.laurion.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain forward-looking statements concerning the future performance of Laurion's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Such statements include, but are not limited to, statements concerning Laurion's acquisition of the Property from Bond and Renner as described above, statements concerning the approval of Laurion's application to trade its common shares over the facilities of the OTCQX and the commencement of such trading. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Laurion cautions against placing undue reliance thereon. Laurion and its management assume no obligation to revise or update these forward looking statements.
Copyright � 2011 LAURION MINERAL EXPLORATION INC. (LME) All rights reserved. For more information visit our website at http://www.laurion.ca/ or send email to info@laurion.ca ..
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Laurion Mineral Exploration Inc.
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EXPLORATEUR |
CODE : LME.V |
ISIN : CA5193221010 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Laurion Mineral Expl. est une société d’exploration minière d'or basée au Canada. Laurion Mineral Expl. détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont STURGEON RIVER MINE, GERMAN PROPERTY, BELL MOUNTAIN, DAVIDSON-TISDALE, DAVIDSON TISDALE / LAURION CLAIMS, EAST CLAVOS et HEMLO-MONTCLERG / NORTHCOTT au Canada. Laurion Mineral Expl. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 44,9 millions CA$ (33,1 millions US$, 30,0 millions €). La valeur de son action a atteint son plus bas niveau récent le 01 janvier 2016 à 0,01 CA$, et son plus haut niveau récent le 17 juin 2022 à 1,15 CA$. Laurion Mineral Expl. possède 108 230 000 actions en circulation. |
Financements de Laurion Mineral Exploration Inc. |
Nominations de Laurion Mineral Exploration Inc. |
Rapports Financiers de Laurion Mineral Exploration Inc. |
Projets de Laurion Mineral Exploration Inc. |
Communiqués de Presse de Laurion Mineral Exploration Inc. |
05/08/2015 | Laurion Announces Voting Results of its Annual and Special M... |
30/06/2015 | IIROC Trading Resumption - LME |
29/06/2015 | IIROC Trading Halt - LME |
23/06/2015 | Laurion Announces Execution of Letter of Intent to Acquire t... |
25/02/2015 | Laurion Announces Letter Of Intent with Boss Power Corporati... |
07/01/2015 | Laurion Issues Stock Options to its Directors |
31/12/2014 | Laurion Issues Stock Options to its Directors |
09/09/2014 | Laurion Announces Amended Payment Terms to Purchase Agreemen... |
03/09/2014 | Laurion Confidence Endorsed by Independent Expertise: Ishkod... |
10/06/2014 | Laurion Announces Results of Annual and Special Meeting of S... |
27/05/2014 | Laurion Provides Corporate Update on Asset Monetization, Exp... |
14/05/2014 | Laurion Ishkoday Discovery Property Intersects a 35 to 45m W... |
07/08/2013 | Chip Samples from Bjorkman Zone on Laurion's Midlothian Prop... |
23/07/2013 | Midlothian Property Grab Samples Assay 12,700 g/t (370 oz/to... |
10/06/2013 | Announces Results of Annual and Special Meeting of Sharehold... |
22/04/2013 | adopts advance notice by-law amendment |
22/04/2013 | adopts advance notice by-law amendment |
26/03/2013 | First Nations Community Renames Laurion's Sturgeon River to ... |
18/10/2012 | Intersects 12.84m of 3.31 g/t Au, 18.1 g/t Ag and 3.72% Zn I... |
18/09/2012 | intersects 8.5m of 1.82 g/t gold, 2.5 g/t silver and 1.65% z... |
13/09/2012 | (Bell Mountain)Capitalizes on Bell Mountain; proceeds to be used to develop... |
14/05/2012 | Mid-Day Breaking News from Laurion, Lomiko, Zenyatta, and Ne... |
07/05/2012 | Midday Breaking News From Laurion, Celeste, and Medipattern |
17/04/2012 | =?iso-8859-1?Q?Mid-Day_Breaking_News_El_Ni=F1o,_Laurion,_Blu... |
15/03/2012 | Mid-Day Breaking News From Seafield, Zenyatta, Laurion, and ... |
02/03/2012 | Multi-Faceted Potential: Laurion Mineral Exploration Underva... |
31/01/2012 | Mid-Day Breaking News From Laurion Mineral, Mesa Exploration... |
26/01/2012 | Laurion Reports Silver/Gold Intercepts from First 3 Holes As... |
12/12/2011 | Mid-Day Breaking News From True North Gems, BonTerra, and La... |
11/10/2011 | Mid-Day Breaking News From Foundation, Canada Rare Earths, L... |
06/07/2011 | Commences Drill Program on High Priority Targets on the Asha... |
01/06/2011 | NEW WEBSITE |
26/05/2011 | Intersects 3.10 g/t Au, 27.5 g/t Ag, 0.38% Cu and 5.63% Zn O... |
06/04/2011 | Reports Initial NI43-101 Mineral Resource Estimate of 9,761,... |
17/03/2011 | Laurion Engages an Independent Consultant for Corporate Comm... |
17/03/2011 | Engages an Independent Consultant for Corporate Communicatio... |
22/02/2011 | Laurion Intersects Multiple Gold Zones: Assay Report of 8.20... |
14/02/2011 | Featured by CEO Clips Airing on BNN |
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