ComstockRoyalty
6 years ago
NEWS August 21st and New 52 Week HIghs Coming.
The company is completely off the radar and continues to move upward in the gold sector while others languish.
I am bullish in LME/LMEFF and own shares.
NEWS
Aug. 21st PR
TORONTO, Aug. 21, 2018 (GLOBE NEWSWIRE) -- Laurion Mineral Exploration Inc. (TSX.V: LME) and (OTCPINK: LMEFF) (“Laurion” or the “Corporation”) is pleased to announce the commencement of the Stage 2 Exploration Campaign (the “Campaign”) on the Corporation’s 47 km2 Ishkoday Project (“Ishkoday”). Laurion’s new 18-month exploration program initiated in May 2018 has the strategic objective of outlining the bulk precious and base metals upside potential at Ishkoday. The initial Stage 1 field validation work which commenced in May, focused on prospecting, geological mapping and sampling with manual stripping and channel sampling of selective historic mineralized veins and in new areas.
Update of Selective Grab Assay Results
As reported in an earlier news release (see the Corporation’s news release dated August 14, 2018). Of the 322 selective field grab and channel samples taken, 45 samples were anomalous in either gold, silver, copper or zinc or any combination of these elements. The majority of samples were taken in the southern claims 3km by 1km Target Area. The southern Ishkoday claims lies south of the Namewaminikan River, which is considered a key structure or fault separating the northern and southern claims and geological domains:
Northern Ishkoday Claims :
150 grab samples were taken from the northern claims; and,
Only 5 anomalous gold assay results: 3 grab samples between 0.1-1 g/t gold, 1 between 1-5 g/t gold and 1 above 5 g/t gold;
Southern Ishkoday Claims – 3km by 1km Target Area:
172 combined grabs and channel samples - 90 grabs and 82 channels - were taken from the southern 3km by 1km Target Area;
33 assay results were >0.30 g/t gold and 6 assay results were >18 g/t gold - all in quartz veins with the highest values located in channel samples with Visible Gold from the 85-A2 yielding 40.80, 43.00 and 1,185.00 g/t gold. However, two selective grab samples were not. One is located in a chlorite-sericite schist with trace pyrite yielding 27.50 g/t gold; and a second, in a porphyry with 1% pyrite gave 28.40 g/t gold;
10 assay results >12 g/t silver and 4 assay results >34.28 g/t (1 oz/ton) silver. Half the anomalous silver results were found in sericite-chlorite-sulphide schists (up to 30.20 and 47.10 g/t silver); the other half in quartz veins (up to 86.40 and 112.00 g/t gold);
1 assay result >1% copper in a diorite/granodiorite porphyry (1.61% copper); and
13 assay results >1% zinc. Anomalous zinc is found in four rock settings: rhyolites/dacites/rhyodacites (up to 1.74% zinc), sericite-chlorite schists (up to 3.26% and 12.00% zinc), chlorite veins (1.89% zinc) and quartz veins (up to 2.82% zinc).
These selected samples may not necessarily be representative of the mineralization hosted on Ishkoday. Additional multi-element geochemical results with correlation factors and more location maps, including the detailed channel sampling maps of the 85-A2 gold bearing quartz vein sector (the “85-A2”) will be made available in the coming weeks as Laurion progresses in its work.
Field observations to date, based on the work in the 3km by 1km SE portion of Ishkoday, the Target Area, indicates a NE-SW trending and extensive quartz and polymetallic vein system hosting the precious and base metals mineralization. Further exploration field work is required to confirm the lateral and cross-strike continuity of the mineralization, and to determine if a bulk tonnage resources model still makes sense. Once confirmed and a geology-mineralization model is built in 2D, Laurion would initiate diamond drilling to prove the model in 3-D as part of the Stage 3 program.
The Stage 2 Exploration Work
The Stage 2 exploration work will include mechanized and manual outcrop stripping, channel sampling and assaying along several strategic NW-SE 400m to 500m outcrop stripping lines (the “Lines”) as a first pass assessment of the bulk polymetallic veins in the Target Area.
The first of several Lines will pass just east of the 85-A2 as it the potential of extending a number of the higher gold grade grab and channel samples 100m on strike, as well as testing a number of previously unexplored sulphide-rich veins located 700m SW of the “CRK” veins sector. Laurion’s previous channel sampling work in 2014 from the “CRK” Showing yielded typical assay results of 8m width of 1.08 g/t gold, 4.90 g/t silver, 1.11% zinc and 0.08% copper, including 5m width of 1.68 g/t gold, 7.00 g/t silver, 1.27% zinc and 0.10% copper.
It will be essential to determine if most or a selective portion of the hundreds of quartz veins identified by previous workers, and subsequently by Laurion, carry gold, and if the gold mineralization is restricted to certain areas, whether high level intrusives, such as the porphyry of the Sturgeon River Mine, and/or polymetallic veins and/or structurally more deformed corridors, such as in quartz-sericite schists as identified in several outcrops of the Target Area.
Quality Assurance and Quality Control (“QA-QC”)
A total of 322 field samples were taken from Ishkoday: 82 channel samples from the Jack quartz-sericite-chlorite-sulphide schists and the 85-A2 quartz vein, and 240 selective grab samples from the quartz veins of the northern claims and both quartz and polymetallic veins from the southern claim blocks. An additional 26 standards, blanks and duplicates were added for QA-QC, for a total of 348 analyzed samples.
Individual field samples were taken by prospectors and geologists, and inserted in individual plastic bags, each with ALS sample tags. Samples were checked, catalogued and bags sealed by the Senior Project Geologist, then placed in large numbered nylon bags with standards, blanks and duplicates. The bags were then sealed and transported by Explo-Logik employees to the ALS facilities in Val-d’Or for gold and multi-element analysis.
Once at the ALS facilities, samples are catalogued with the bar coding system, dried, weighed, crushed, pulverized to 70% <2mm, and riffle-split sample is taken for final pulverization to 85% <75µm. A final split is taken for multi-element ICP-AES analysis (gold plus 33 elements) and ore grade finish on anomalous results in gold, silver, copper and zinc).
About Laurion Mineral Exploration Inc.
The Corporation is a junior mineral exploration and development company listed on the TSX-V under the symbol LME and on the OTCPINK under the symbol LMEFF. Laurion now has 137,965,639 outstanding shares of which 54% are owned and controlled by Insiders and within the ‘friends and family’ category.
The Corporation’s emphasis is on the development of its flagship project, the 100% owned mid-stage Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential.
ComstockRoyalty
7 years ago
LMEFF News - PDAC 2017 11,000 Acre Gold Project
TSX Venture Exchange (LME.V)& OTC: (LMEFF).
Significant high grade gold environment and a polymetallic environment, both harnessed within a 100% owned 4,697ha (11,607ac.) property package, located 220km northeast of Thunder Bay with easy access off the Trans-Canada Highway.
Laurion is expanding on a legacy of high grade gold production from the Ishkoday shaft which is associated with a significant gold environment located to the north of the shaft, and the significant polymetallic discovery hosted in the massive sulphide trends.
*Substantial exploration potential and opportunity to expand a multiple payable metal resource along strike and at depth, hosted within 3 massive sulphide trends, with a total strike length of 9km within a 1km wide corridor.
THREE-phased business plan (60 months) to build on world-class multi-metal gold and zinc-rich deposit.
?Total data base of 40,729m of drilling and geophysics, highlighting the potential for large polymetallic deposit at shallow depth, with mineralization increasing in grade and width.
Significant unexplored gold environment hosted in the granite/granodiorite proximal to the existing shaft confirmed by drilling, surface sampling, soil geochem and drilling.
Revenue generation opportunities from surface stockpiles, a number of high grade gold quartz veins and an in-situ 85,000 ounces gold (historical estimate - shaft).
http://www.laurion.org/
ragmuff
13 years ago
Assay Values Up to 21.50 g/t Gold Confirmed from Surveying/Sampling of the Sturgeon River Mine Tailings
1 hours 19 minutes ago - INW
MarketwireLaurion Mineral Exploration Inc. (TSX VENTURE: LME)(OTCQX: LMEFF)("Laurion") announced that assay values have been received from a comprehensive sampling program of the mill tailings at its Sturgeon River Property ("Sturgeon") located near Beardmore, Ontario.
Highlights of higher grade overburden drill hole intersections are as
follows:
----------------------------------------------------------------------------
Average Grade
Hole Number From (m) To (m) (Au g/t)
----------------------------------------------------------------------------
BH64 0 0.90 9.65
----------------------------------------------------------------------------
BH76 0 0.60 6.47
----------------------------------------------------------------------------
BH73 0 1.20 2.99
----------------------------------------------------------------------------
BH74 0 1.10 2.30
----------------------------------------------------------------------------
BH84 0 1.70 2.28
----------------------------------------------------------------------------
The survey data and the assay results of the comprehensive sampling program of the mill tailings and the waste rock pile as reported in the January 4, 2011 news release are currently being incorporated into a mineral resource estimate by the Corporation's Consultants GeoVector Management Inc ("GeoVector"). It is anticipated that this estimate should be completed before the end of January 2011.
On May 13, 2010 Laurion reported that grab sampling by the GeoVector of the mill tailings returned a sample of 0.68 g/t gold. Historical sampling by Phoenix in 1984 returned 0.58 g/t from the edges of the tailings disposal area. At that time it was postulated that potential for higher grade gold values existed at the base of the tailings where gold would have accumulated from gravity settlement of the tailings. Based on reported production records, there is a potential of 125,000-135,000 tons of tailings that could possibly be processed to recover any contained gold. This estimate of tonnage is historical and does not conform to the current National Instrument 43-101 standards, and should not be relied upon.
On the basis of the above initial positive results, Laurion commissioned a comprehensive program to accurately determine the location and volume of the tailings and to sample the tailings pile using an overburden drill to acquire representative samples throughout the tailings containment area. This information will be used to calculate a National Instrument 43-101 compliant resource estimate.
The survey of the tailings area was carried out by TBT Engineering Consulting Group ("TBTE") of Thunder Bay, using a Trimble R8 RTK GPS with an accuracy of approximately 1 cm. The overburden drilling was also carried out by TBTE with hole locations determined using the Trimble R8 RTK GPS. Holes were planned on a diamond grid with 20 meter hole spacing. A total of 93 drill collars were spotted and 87 were drilled. Six holes were not drilled as they appeared to be off the tailing area, or were inaccessible. A total of 376 samples were collected, ranging from 0.10 meters to 1.10 meters, with an average thickness of 0.42 meters. Tailings thickness intersected in the drilling ranged from 0.60 meters to 3.90 meters. Most drill holes penetrated through the tailings into the underlying organics, which were also sampled.
Sampling of the overburden drilling was carried out by TBTE under the supervision of GeoVector. The samples were sent to Actlabs and were analyzed by fire assay with AA finish. Any high grade samples over 3000 ppb gold were further treated to fire assay with gravimetric finish to determine a final gold grade. Individual assay results ranged from nil gold to 21.50 g/t gold. The gold grade was consistently higher in the lower intervals of the tailings intersections, thus confirming that percolation of the gold had indeed occurred. Drill intersections through the total mill tailings thickness ranged from a low of 0.13 g/t over 1.0 meter to 9.65 g/t over 0.90 meters.
In a press release on January 4, 2011, Laurion announced the completion of a comprehensive survey/sampling program of the waste rock pile in which assay values of up to 32 g/t gold were reported. The Sturgeon River Mine operated between the period 1936 to 1942. The quartz vein material mined from the No. 3 main vein was reportedly hand sorted and milled at an average grade of 15.71 g/t gold, thus higher grade material of current economic value was either designated to the waste rock pile or to the tailings disposal area after milling.
All samples from the 2010 waste pile program were delivered by GeoVector Management Inc. personnel to the Activation Laboratories ("Actlabs") facility in Geraldton. Actlabs is an ISO/IEC 17025 accredited analytical laboratory.
The work programs at the Sturgeon River property are designed and managed by GeoVector Management Inc. The technical information contained in this news release has been verified by Joseph Campbell, P. Geo., President of GeoVector, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."
About Laurion Mineral Exploration Inc.
Laurion's focus is to make the transition from explorer to near-term producer. 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 Nevada USA.
Laurion envisages the realization of shareholder value and wealth through monetization of its discoveries and assets.
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.
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 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.
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.
Contacts:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin
President
1-705-788-9186
1-705-788-9187 (FAX)
www.laurion.ca
SOURCE: Laurion Mineral Exploration Inc.
http://www.laurion.ca
ragmuff
13 years ago
Laurion Mineral Exploration Inc.-Issuance of Stock Options
Date : 12/31/2010 @ 3:00PM
Source : MarketWire
Laurion Mineral Exploration Inc.-Issuance of Stock Options
Laurion Mineral Exploration Inc. (TSX VENTURE: LME)(OTCQX: LMEFF) ("Laurion") is announcing that it has granted a total of 2,100,000 stock options (the "Options") to its board of directors (the "Board"). Laurion's Compensation Committee issued the Options to the Board as compensation for each director's respective contributions to Laurion over the last year.
The Options have a ten year term and an exercise price of $0.12. One-third of the Options vest immediately, one-third of the Options will vest on the first anniversary of their date of grant and the remaining one-third of the Options will vest on the second anniversary of their date of grant.
About Laurion Mineral Exploration Inc.
Laurion's focus is to make the transition from explorer to near-term producer. It envisages the realization of shareholder value and wealth through monetization of its discoveries and assets. Laurion's exploration horizon is focused on gold (with a secondary focus on base metals and PGEs). Laurion's key proprietary interests are in prospective mining properties located in Ontario, Canada and Nevada, USA.
Laurion is well-funded to complete the next phases of drilling and exploration work on the Bell Mountain and Sturgeon River Projects. Laurion intends to successfully advance these projects, moving it closer to being a near-term producer.
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 the Options and Laurion's stock option plan. 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.
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.
Contacts:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin
President
1-705-788-9186
1-705-788-9187 (FAX)
www.laurion.ca
DrZhivago
13 years ago
Laurion Announces Assay Results, Extending Mineralization to Greater Depths
Nov. 23, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 11/23/10 -- Laurion Mineral Exploration Inc. (TSX VENTURE: LME)(OTCQX: LMEFF) ("Laurion") is pleased to announce assay results for holes BMG-10 to BMG-20 from the recently completed 56 hole drill program at its 100% owned Bell Mountain project located in Churchill County, Nevada. Assay results of these eleven holes indicate gold and silver grades which are consistent with earlier drilling and which have through this phase of drilling been extended to greater depths. The width and distribution of the mineralized intervals coincides generally with those predicted from the interpretation of cross sections and of drill hole logs. Results from the remaining holes, BMG-21 to BMG-56, will be released upon availability.
"The assay results from the recent drill program drilling continues to reflect similar grades and widths to those from historic drilling in the area, suitable for heap leaching," commented Cynthia Le Sueur - Aquin, President and Chief Executive Officer of Laurion Mineral Exploration Inc. "The drill program appears to have been successful in expanding the known resource in the Varga area, both to the east and down dip."
Highlights of assay results for holes BMG-10 to BMG-20 are tabulated below:
----------------------------------------------------------------------------
Hole From (ft.) To (ft.) Width (ft.) Au (g/t) Ag (g/t)
----------------------------------------------------------------------------
BMG-10 0 270 270 0.37 7.1
----------------------------------------------------------------------------
Including 115 150 35 0.56 8.4
----------------------------------------------------------------------------
160 205 45 0.53 6.3
----------------------------------------------------------------------------
230 265 35 0.46 17.1
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BMG-11 55 80 25 0.48 4.5
----------------------------------------------------------------------------
100 155 55 0.34 9.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BMG-12 5 40 35 0.76 14.5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BMG-13 55 115 60 0.37 11.6
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BMG-14 0 50 50 0.26 7.9
----------------------------------------------------------------------------
60 130 70 0.42 15.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BMG-15 0 35 35 0.35 9.1
----------------------------------------------------------------------------
70 115 45 0.34 11.5
----------------------------------------------------------------------------
240 300 60 0.33 12.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BMG-16 174 215 40 0.30 12.6
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BMG-17 25 70 45 0.36 7.0
----------------------------------------------------------------------------
195 215 20 0.44 12.4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BMG-18 45 55 10 1.40 14.4
----------------------------------------------------------------------------
175 190 15 0.53 15.0
----------------------------------------------------------------------------
230 250 20 0.31 15.4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BMG-19 105 130 25 0.61 9.8
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BMG-20 5 15 10 0.36 4.4
----------------------------------------------------------------------------
120 155 35 0.44 8.6
----------------------------------------------------------------------------
Holes BMG-10, 11 and 12 were drilled in the northeastern portion of the Varga mineralized zone and south and east of holes BMG 5, 6, 7, 8, and 9. These holes indicate that the mineralized trend continues to the east and south of the previous holes, however are narrowing to the east.
Holes BMG-13 and 14 extend the mineralization reported from holes BMG-1, 2, 3 and 4 toward the southwest along strike with strong widths of gold and silver values.
Holes BMG-15, 16, 17 and 18 were drilled along the southeast margin of the Varga zone and down dip from prior holes, with hole BMG-18 located the furthest to the east. The assay results from these holes demonstrate that mineralization persists to greater depths than previously drilled, and that grades appear to increase although over less wide intervals.
Holes BMG-19 and 20 were located near the western end of the main Varga zone where the mineralized band narrows and is cut by two fault zones. The assay values in this area are higher with relatively narrower intervals.
Qualified Person
The technical information contained in this news release has been verified by Mr. Dana C. Durgin (MSc, P.Geo), Laurion's Exploration Manager, and Mr. Douglas R. Wood (MSc, P.Geo), are the Qualified Persons responsible for the scientific and technical work (as defined under National Instrument 43-101) discussed in this press release, and have reviewed this press release.
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.
The Corporation has an option to acquire a 100% interest in the Bell Mountain Gold Project with Globex Mining Enterprises Inc. (TSX: GMX)(FRANKFURT: G1M) ("Globex") of Rouyn-Noranda, Quebec.
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.
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 the expected timing of assay results. 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.
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.
Contacts:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin
President
1-705-788-9186
1-705-788-9187 (FAX)
www.laurion.ca
Source: Marketwire (November 23, 2010 - 12:10 PM EST)
News by QuoteMedia
DrZhivago
13 years ago
About the Bell Mountain mine:
The Bell Mountain property lies in the southeastern part of Churchill County in west-central Nevada (USA). It is located approximately 70 kilometers southeast of Fallon on highway 50 (Lincoln Highway). The project site is located at the north end of Bell Flat and is approximately 6 miles southeast of the Fairview Mining District.
The Bell Mountain Property includes the original 26 Globex lode claims covering an area of approximately 217 ha and 119 recently staked lode mining claims, increasing the land package to 995 ha.
The property consists of three zones of mineralization: The Spurr, Varga, and Sphinx within 26 lode claims located in ranges 34 and 35 east of townships 15 and 16 north, Churchill County, Nevada, USA.
Highlights of Bell Mountain
* The Bell Mountain Gold Project is contained entirely within the Fairview Peak caldera; its inter-caldera setting is a very favored environment for gold deposits in the region.
* Gold mineralization within the Property occurs as electrum (Au, Ag) and Acanthite (Ag2S).
* The mineralization forms an epithermal, low-sulfidation, volcanic-hosted, caldera-related deposit located in the prolific Walker Lane structural province of Nevada, which is the host to many major gold producing districts such as the Comstock (6.9 M oz of gold and 161 M oz of silver), Round Mountain(7.6 M oz of gold), Paradise Peak, Bullfrog, Tonopah, Goldfield, Rawhide and several others;
* Project previously permitted for production in 1992 by N.A. Degerstrom Inc. to process known ore resources of 2.1 Mt which amenable to open pit mining and heap leaching;
* Underground observations of the limits of the veins suggest that the resources of 2.1 Mt could be increased considerably;
* 96% of the known vein systems (on 26 lode claims) identified on the property remains to be tested, since only 0.09 km2 was drilled on a total of 2.34 km2;
* A study of abundant drilling data and underground workings from the Property suggests that the resource calculated by Degerstrom in 1991, is open to significant expansion and could be increased considerably, both laterally and at greater depth. The deposit is drill tested to a maximum depth of 75m with an average depth of 45m and is open along strike;
* Additional attractive targets have been identified on the Property with little exploration outside the known resource.
Geology and Mineralization
The Bell Mountain property is entirely contained within the Fairview Peak caldera that erupted 19 million years ago and is a complex assemblage of ash-flow tuff, basaltic andesite to rhyolite lava, rhyolite lava domes, and dacite to rhyolite dykes form a co-genetic suite that erupted from the Fairview Peak caldera.
The hydrothermal alteration was of argilic type, mostly kaolinization. Local hematization, gives the rock a pinkish color. Local silicification was encountered in most of the drill holes, mostly in the wall rocks along quartz veins, but also distant from such veins. Manganese alteration was also noted where the rock took a brownish color. Minor chlorite and epidote alteration was found in some drill holes, where fragments were chloritized and/or epidotized. Locally, fragments have been oxidized and jasperized.
The mineable ores at Bell Mountain are typically found as shoots within the Main Vein. Quartz and carbonate gangue are characteristic. The veins usually exhibit several stages of crushing and brecciation and carbonate gangue is usually replaced by quartz as brecciation and mineralizations proceed.
The Primary ore minerals are electrum (Au, Ag) and Acanthite Ag2 S. Small amounts of galena, sphalerite, chalcopyrite and molybdenite are deposited with the gold and silver minerals, as is minor pyrite. At Bell Mountain these are now evidenced by psuedomorphs, patches and fracture coatings of indigenous limonite. One or more of the silver sulphosalts were probably deposited with primary ores.
The vein systems on the property cover an area of 0.9 square miles (2.3 km2), of which only 4% has been tested by drilling to an average depth of 25 metres, leaving a large area open to exploration.
Only two identified hydrothermal alteration zones have been explored by drilling, and only at shallow depths. In addition, the property's geological context, located near the Round Mountain and Comstock mines, is highly favorable for the discovery of major deposits.
All mineralization is structurally controlled in shear and fault zones found in extrusive rhyolites consisting of flows, tuffs, and welded tuffs. The ore is found in calcite or silica veins in these zones.
A recent review of the data identified the following non-43-101 compliant reserves as follows (proven and possible):
* 2.1 million tons, 1.39 grams/ton Au, 40.7 grams/ton Ag (Anthony Payne, 1982)
* 2.3 million tons, 1.08 grams/ton Au, 37.3 grams/ton Ag (Simons, 1982)
* 2.1 million tons, 1.29 grams/ton Au, 41.0 grams/ton Ag (Degerstrom, 1992)
All reserve data identified the strip ratio at approximately 2.5 to 3.0 to 1.
History and Background
The property was originally staked in 1914. In 1918, Tonopah Mining Co. conducted underground development and sampling with some additional sampling conducted in 1948.
A 270-metre long adit was driven in the 1970's.
In 1978, Bell Mountain Mining Company, a subsidiary of American Pyramid Resources Inc., did a substantial underground sampling program including driving the 180-metre Varga adit along the Stockton Vein (Spurr). A comprehensive feasibility study was completed in 1981, which returned positive metallurgical test results. In 1984, Santa Fe Mining Company drilled 51 reverse circulation holes principally in the Varga area and ten holes in the Sphinx area. In 1985, Alhambra Mines reopened and resampled the underground workings. Metallurgical tests were undertaken and 18 drill holes completed in the Spurr adit area.
Between 1988 and 1993, N.A. Degerstrom drilled 104 holes, completed a technical feasibility study and permitted the property for open-pit mining and heap leaching. Degerstrom reported 2.1 million tonnes grading 1.33 grams/tonne gold and 37.55 grams/tonne silver.
Falling metals prices made the development of the Property uneconomic at that time and the project was shelved.
Although the Degerstrom Report was completed by credible professionals, it was written prior to the enactment of NI 43-101 statute, thus a "Qualified Person" must complete sufficient additional work to reclassify this historical estimate as a current mineral resource and the historical estimate should therefore not be relied upon.
During the summer of 1996, ECU Silver completed a multidisciplinary study program. This program included detailed geological mapping, the collection of 235 samples, an electromagnetic and magnetic airborne survey, and the analysis of Landsat data. ECU also drilled five holes in three zones for 2,388 feet. Best results were returned by hole 96-5 which intersected a 189 foot-long mineralized interval of 0.03 oz/t gold equivalent (Au+Ag), which included a section grading 0.058 oz/t gold equivalent over a length of 82 feet.
In mid 2004, Globex optioned the property to Platte River Mines who undertook a program of surface and underground sampling followed in late 2004 by diamond drilling. This drilling while intersecting the gold localizing structure, failed to expand the resource.
The Bell Mountain property is owned by Globex Nevada, Inc. which a 100% subsidiary of Globex Mining Enterprises Inc. located in Rouyn-Noranda, Quebec. Laurion has an option to acquire 100% of the Bell Mountain Property from Globex.
DrZhivago
13 years ago
Laurion Mineral Exploration Inc. Joins OTCQX
NEW YORK, Nov. 11, 2010 /PRNewswire via COMTEX/ -- Pink OTC Markets Inc. (OTCQX: PINK), the financial information and technology services company that operates the leading electronic quotation and trading system in the U.S. OTC securities market, today announced that Laurion Mineral Exploration Inc., (TSX.V: LME; OTCQX: LMEFF) a Canadian company focused on gold exploration, is now trading on the OTC market's highest tier, OTCQX(R).
(Logo: http://photos.prnewswire.com/prnh/20090708/NY43125LOGO )
(Logo: http://www.newscom.com/cgi-bin/prnh/20090708/NY43125LOGO )
"The superior information and visibility of the OTCQX marketplace allows companies to efficiently build investor confidence and expand their shareholder base," said R. Cromwell Coulson, President and CEO of Pink OTC Markets. "We are pleased to welcome Laurion Mineral Exploration to OTCQX."
Laurion Mineral Exploration began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcqx.com and www.otcmarkets.com.
Cynthia Le Sueur-Aquin, President and CEO of Laurion Mineral Exploration Inc. stated today, "We are very pleased to commence trading on the premier tier of the OTC. This step is indicative of our commitment to increasing investor awareness to Laurion and offering additional liquidity to our shareholders in a transparent marketplace."
Dorsey & Whitney LLP will serve as Laurion Mineral's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.
About Laurion Mineral Exploration Inc.
Laurion Mineral Exploration Inc., (TSX.V: LME; OTCQX: LMEFF) trades in the United States on OTCQX under the symbol "LMEFF". Laurion Mineral Exploration Inc.'s horizons are focused primarily on developing our gold projects towards near term production with key interests in prospective mining properties located in Ontario, Canada and Nevada, USA.
About OTCQX
The OTCQX marketplace is the premier tier of the U.S. OTC market. Investor-focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange. For more information and to view a full list of OTCQX companies, visit www.otcqx.com.
About Pink OTC Markets Inc.
Pink OTC Markets Inc. (OTCQX: PINK) operates the leading electronic interdealer quotation and trading system for over 9,000 securities not listed on a U.S. stock exchange. Pink OTC Markets segments these securities into three tiers: the quality-controlled OTCQX marketplace, the U.S. registered and reporting OTCQB marketplace, and the speculative trading Pink Sheets marketplace. These three tiers constitute the third largest U.S. liquidity pool for trading public company shares, after The NASDAQ Stock Market, Inc. and The New York Stock Exchange. Our products and services promote market transparency, improve price discovery, facilitate regulatory compliance, and increase the quality of issuer disclosure, to the benefit of all OTC market participants. To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at www.otcmarkets.com, www.pinkotc.com and www.otcqx.com or contact us at info@pinkotc.com.
SOURCE Pink OTC Markets Inc.
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