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Message: More Gold in the Beardmore Gold Camp..
Laurion Samples 65.7 g/t Au at Sturgeon River Property
Laurion Samples 65.7 g/t Au at Sturgeon River Property
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Issued and Outstanding Common Shares
LME - 66,043,683
>>
TORONTO, Oct. 14 /CNW/ - Laurion Mineral Exploration Inc. (TSXV: LME)
("Laurion") today announced the assays results of its Sturgeon River Property
("SRP") channel sampling program comprised of 50 channel samples.
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Highlights of the Sturgeon River Summer Program:
- Visible gold associated with sulphides
- Gold mineralization throughout the veins
- 65.73 g/t Au (1.20 oz/t) over a channel width of 1.50 m from the
Marge vein
- 23.567 g/t Au (0.69 oz/t) over a channel length of 0.10 m from the
85A-2B vein
- 52.50 g/t Au (1.53 oz/t) over a channel length of 0.20 m from the
3 vein
- Channel samples completed at 1 m intervals where possible over a
strike of length of 50 m on the Marge Vein.
SRP Notes from previous announcements:
- Grab sample No. 439013 193.5 g/t Au (5.65oz/t) taken from outcropping
of various quartz veins on the Property
- Grab sample No. 439002 0.22 g/t Au, 9.1% Cu, 18.6% Zn, 62.1g Ag/t
taken from a historical sulphide showing hosted within the mafic
volcanics
- Completion of a National Instrument 43-101 Technical Report.
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At the northwest portion of SRP is the Marge Vein that steeply trends
northwesterly over an identified strike length of approximately 365 m. The SRP
is located in the Beardmore-Geraldton greenstone belt that has reportedly
produced more than 4.12 million ounces of gold from 19 mines since 1925 when
gold was first discovered in the area. The SRP has potential to host several
deposit types including Archean shear zone hosted lode gold and volcanogenic
massive sulphides (Cu-Zn-Pb-Au-Ag). The SRP is reported to host more than
120 veins, many of which host significant gold mineralization in multiple
parallel structures. Notable base metal values are also present within the
felsic volcanics. Many of these quartz vein structures remain open in the
area, yet to be explored.
The significance of Laurion's findings to date lies in the nature of the
mineralization in the local geological environment. In the Red Lake, Kirkland
Lake and Beardmore-Geraldton gold camps, quartz vein structures are similar on
surface, in both width and grade, to those identified to date on the SRP, as
well as the mineralization reportedly found on neighbouring properties of
Kodiak Exploration Limited's "Hercules" (TSXV: KXL) and Sage Gold Inc.'s
"Jacobus" (TSXV: SGX).
Results of the Sturgeon River channel sampling program shown in the table
below:
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-------------------------------------------------------------------------
Sample Au g/t
Sample No. Vein Length (m) (ppm) Au oz/t
-------------------------------------------------------------------------
263901 Marge 0.50 0.043 0.001
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263902 Marge 0.25 58.767 1.714
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263903 Marge 0.50 1.062 0.031
-------------------------------------------------------------------------
263904 Marge 0.70 6.679 0.195
-------------------------------------------------------------------------
263905 Marge 0.30 0.285 0.008
-------------------------------------------------------------------------
263906 Marge 0.30 12.623 0.368
-------------------------------------------------------------------------
263907 Marge 0.30 14.373 0.419
-------------------------------------------------------------------------
263908 Marge 1.20 6.893 0.201
-------------------------------------------------------------------------
263909 Marge 0.40 14.853 0.433
-------------------------------------------------------------------------
263911 Marge 0.30 9.619 0.281
-------------------------------------------------------------------------
263912 Marge 0.70 0.305 0.009
-------------------------------------------------------------------------
263913 Marge 0.50 65.733 1.918
-------------------------------------------------------------------------
263914 Marge 0.30 0.597 0.017
-------------------------------------------------------------------------
263915 Marge 0.50 55.116 1.608
-------------------------------------------------------------------------
263916 Marge 0.35 23.433 0.684
-------------------------------------------------------------------------
263917 Marge 0.30 21.686 0.633
-------------------------------------------------------------------------
263918 Marge 0.20 1.169 0.034
-------------------------------------------------------------------------
263919 Marge 0.30 29.146 0.85
-------------------------------------------------------------------------
263921 Marge 0.35 56.865 1.659
-------------------------------------------------------------------------
263922 Marge 0.30 33.185 0.968
-------------------------------------------------------------------------
263923 Marge 0.30 30.706 0.896
-------------------------------------------------------------------------
263924 Marge 0.35 1.001 0.029
-------------------------------------------------------------------------
263925 Marge 0.30 0.02 (less than) 0.001
-------------------------------------------------------------------------
263926 Marge 0.50 31.689 0.924
-------------------------------------------------------------------------
263927 Marge 0.25 8.851 0.258
-------------------------------------------------------------------------
263928 Marge 0.25 11.324 0.33
-------------------------------------------------------------------------
263929 Marge 0.45 10.058 0.293
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263931 Marge 0.70 29.708 0.867
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263932 Marge 0.50 8.638 0.252
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263933 Marge 0.90 5.642 0.165
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263934 Marge 0.50 1.256 0.037
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263935 Marge 0.45 11.346 0.331
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263936 Marge 0.75 23.534 0.687
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263937 Marge 1.00 6.536 0.191
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263938 Marge 0.65 6.431 0.188
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263939 Marge 0.70 1.02 0.03
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263941 Marge 0.30 0.239 0.007
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263942 Marge 0.20 0.223 0.006
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263943 Marge 0.50 6.229 0.182
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263944 Marge 0.30 20.731 0.605
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263945 85A-2B 0.10 9.016 0.263
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263946 85A-2B 0.08 17.254 0.503
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263947 85A-2B 0.10 23.566 0.688
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263948 85A-2B 0.20 5.393 0.157
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263949 85A-2B 0.12 2.143 0.063
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263950 85A-2B 0.10 1.609 0.047
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263952 3 0.20 27.56 0.804
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263953 3 0.25 21.683 0.633
-------------------------------------------------------------------------
263954 3 0.20 52.502 1.532
-------------------------------------------------------------------------
263955 3 0.25 12.351 0.36
-------------------------------------------------------------------------
>>
The SRP is located 10 km southwest of Kodiak Exploration's Hercules
Property. Shallow drilling on the Hercules' Kodiak Golden Mile has confirmed
that the high grade gold mineralization exposed on surface remains open at
depth as well as along strike. The Sage Gold Jacobus property lies along
strike 5 km directly to the northwest from Hercules. Sage Gold recently
reported its channel sampling results which returned values of up to 136.5 g/t
Au (3.98 oz/t) over a channel length of 0.5 m on Jacobus (See press release
September 2, 2008).
As previously announced, a National Instrument 43-101 Technical Report
was completed in June 2008 for the SRP by Caracle Creek International
Consulting Inc. ("CCIC") of Sudbury, Ontario that concluded the SRP "is an
excellent early-stage advanced exploration project for Archean gold
mineralization and further that the previously encountered mineralization and
historical reserves are of sufficient merit to justify further exploration" to
define resources. The SRP produced 73,439 ounces of gold, and 15,922 ounces of
silver between 1936 and 1942 from the Sturgeon River Mine, previously known as
the Coniagas Mine.
The report titled "Independent Technical Report, Sturgeon River Mine
Property, Beardmore, Ontario, Canada" can be viewed at www.sedar.com.
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