TORONTO, July 23, 2013 /CNW/ - Laurion Mineral Exploration Inc.
("Laurion" or the "Company") (TSX-V: LME) and (OTCQX: LMEFF) is pleased
to report that a grab sample collected in May from a quartz
vein/alteration zone, named the Bjorkman zone, on its Midlothian
property assayed 12,700 g/t Au. A second grab sample collected from
the same zone 5 m away assayed 296 g/t Au. Grab samples are selective
by nature and are unlikely to represent average grades of the deposit
The Midlothian property consists of 11 claims (152 claim units) covering
an area of approximately 24.2 km2. The property is jointly owned by
Laurion (51%) and Kiska Metals Corporation (TSX-V: KSK: 49%). Laurion
is the project operator.
The Midlothian property occurs 80 km west-southwest of Kirkland Lake and
25 km west-southwest of Matachewan. The west-southwest trending, 250
km long Cadillac-Larder Lake Break ("CLLB") is interpreted to pass
through the southeast portion of the property. This major structure
provides a regional locus for numerous gold deposits and hosts more
than 100 mines and significant gold prospects, extends from well east
of Val d'Or, Quebec to Matachewan in Ontario, and probably extends
further to the southwest. Combined past production and known reserves
from the break aggregate more than 80 million ounces of gold.
A subparallel structure to the CLLB has also been interpreted on the
Midlothian property, and several westerly trending splays off the
latter structure have been inferred. The western half of the property
contains Archean intermediate and felsic volcanics intruded by
east-trending mafic to ultramafic linear intrusions (typically gabbro
to peridotite). The northeastern corner of the property contains
Timiskaming Conglomerate, and the Archean geology of the eastern
portion of the property, including the CLLB, is concealed by an unknown
thickness of Proterozoic sediments. During the 1950s and early 1960s
most investigations were concentrated on the gold potential of the
Timiskaming Conglomerate and on asbestos and copper-nickel showings
associated with the mafic to ultramafic sills. Asbestos was mined from
several pits by United Asbestos Incorporated from 1975 to 1977.
A five-day prospecting program was conducted on the property in late
May, 2013. The highlights of the results were two grab samples taken 5
m apart from a quartz vein/alteration zone, in the wall of the top
bench of one of United Asbestos's open pits. These samples assayed 296
g/t (8.6 oz/ton) and 12,700 g/t (370 oz/ton) gold respectively.
The mineralized Bjorkman zone is 1 m wide, and consists of a mixture of
white bull quartz, very fine-grained grey silica and iron carbonate,
with a 10 cm zone of banded fine-grained silica on the margin. The
Bjorkman zone occurs on the western contact of an approximately 25 m
wide, northerly trending intermediate dike which cuts the ultramafic
sill, and is proximal to one of the westerly trending interpreted splay
structures. The contact and mineralized zone vary in dip from 45
degrees to subvertical. The Bjorkman zone can be followed for
approximately 20 m; it is concealed at both ends by debris associated
with the open pit. Abundant visible gold occurs in the banded margin
of the zone in at least one locality. Malachite is also present
locally. Photographs of the mineralized zone and the visible gold are
available on Laurion's website: http://www.laurion.ca/s/midlothian.asp.
Laurion spent two days in July re-examining the mineralized zone and
conducting additional sampling and prospecting on the property. There
is extensive iron carbonate alteration with pyrite in the Timiskaming
Conglomerate and locally in the volcanics on the property, in many
instances proximal to the interpreted structures. Minor veining and
small cliffs were also noted along the interpreted structures.
Six chip samples were collected across the Bjorkman mineralized zone,
and additional grab samples were collected where anomalous results were
obtained from the May program. All results from the May program will
be reported in conjunction with results from the recent sampling as
soon as the latter results are available.
SAMPLE ANALYSIS
Samples were analyzed by Activation Laboratories Ltd. of Thunder Bay.
The 296 g/t Au analysis was obtained by the fire assay method with
gravimetric finish. The 12,700 g/t Au analysis was obtained by the
screen metallic assay method on a 436 g sample.
QUALIFIED PERSON
Tom Setterfield, PhD, P. Geo., Principal of GeoVector Management Inc.,
is the Qualified Person, as defined by NI 43-101, for the Midlothian
Property and has reviewed the technical information in this release.
About Laurion Mineral Exploration Inc.
Laurion Mineral Exploration Inc. is a junior mining company focusing on
the upside of its 100%-owned Ishkoday property, a high impact project
with a primary focus on gold and base metals. Exploration of its
high-potential Midlothian Property is in its early stages.
With proven ability to develop early stage projects and create
shareholder value by monetizing its discoveries and assets, Laurion has
realized a total of $6.35 million in the last two years from
monetization of its assets. The Company's current focus is on resource
development at Ishkoday, located in 28 km northeast of Beardmore, and
approximately 220 km northeast of Thunder Bay, Ontario.
Neither the TSX Venture Exchange (the "TSX-V") nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX-V) accepts responsibility for the adequacy or accuracy of this news
release.
This news release includes certain forward-looking statements concerning
the future performance of Laurion's business, operations and condition,
as well as management's objectives, strategies, beliefs and intentions.
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. 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 except as required by law.
SOURCE: Laurion Mineral Exploration Inc.
