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Laurion Mineral Exploration Inc. (LME:CA)
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Web site:
http://www.laurion.ca
The corporation’s focus is to transition from explorer to producer, in the short to medium term, while delivering operational excellence and continuing to add value for our investors.
The corporation envisages the realization of shareholder value and wealth through focused exploration, development and monetization of our discoveries following these strategies and criteria:
- Verify, increase and develop existing resources for near term production and revenue generation
- Make sound business decisions based on disciplined financial criteria that appropriately balance costs, benefits and risks
The corporation’s exploration and development horizons encompass primarily gold, with a secondary interest in base metals.
The company’s two flagship properties are located near Beardmore, Ontario and Reno, Nevada.
Projects:
Bell Mountain Project
Laurion holds an option to earn a 100% interest in the Bell Mountain Project, which encompasses approximately 4.5 square miles (11.7 square kilometers) of mineral rights, and is located in Churchill County, County, Nevada, about 95 miles southeast of Reno, Nevada.
The core of the Bell Mountain property is a block of 26 unpatented mining claims, covering 520 acres or 217 hectares. In addition the Corporation staked 119 additional claims (2,380 acres or 778 hectares) for a total land package of 2,900 acres or 995 hectares. The property consists of three zones of known mineralization: The Spurr, Varga, and Sphinx. Additional attractive targets have been identified on the Property with little exploration outside the known resource.
Resource Estimate Highlights (NI43-101 Compliant as at April 6, 2011)
- Measured and Indicated resource of 9,761,000 tonnes of material at an average grade of 0.526 g/t gold and 17.63 g/t silver hosting 165,018 ounces gold and 5,533,907 ounces silver.
- Inferred resource of 2,046,000 tonnes of material at an average grade of 0.449 g/t gold and 13.26 g/t silver hosting 29,550 ounces gold and 872,411 ounces silver.
| Metric | Tonnage ('000 Tonnes) |
Average Gold Grade (g/Tonne) | Gold (grams) |
Gold (ozs) |
Average Silver Grade (g/Tonne) |
Silver (grams) | Silver (ozs) |
Total Equivalent Ounces Of Gold |
| Measured | 5,952 | 0.531 | 3,158,063 | 101,534 | 16.62 | 98,913,080 | 3,180,127 | 159,355 |
| Indicated | 3,810 | 0.518 | 1,974,575 | 63,484 | 19.22 | 73,210,796 | 2,353,780 | 106,280 |
| Total Measured and Indicated | 9,761 | 0.526 | 5,132,638 | 165,018 | 17.63 | 172,123,876 | 5,533,907 | 265,635 |
| Inferred | 2,046 | 0.449 | 919,108 | 29,550 | 13.26 | 27,135,036 | 872,411 | 45,412 |
The Corporation plans on the following steps in the advancement of the Bell Mountain project:
- Commence environmental permitting requirements to include development of baseline needs and mine plan of operations.
- Completion of a Preliminary Feasibility Study and determination of production decision.
- Concurrently review the geology focusing on extending known mineralization and testing of peripheral targets within the 2,900 acre package at Bell Mountain.
Strong potential exists for further resource addition:
- On the Spurr and Varga zones which remain open at depth;
- The CC and Mike Zones (East Ridge) that lie on to the east on Spurr-Varga fault strike which extends for 1.8 kilometres, and
- The Sphinx zone which can be traced on surface for 900 metres and remains open at depth and laterally.
Sturgeon River Project
The Sturgeon River Property consists of 15 mining leases totaling 1,623 hectares, located in the Beardmore-Geraldton Gold Camp, 120 km North-East of Thunder Bay, Ontario. The Beardmore-Geraldton Gold Camp is one of the seven main Archean Greenstone Camps, with historical production over 4 million ounces gold.
Laurion Acquired 100% of the Sturgeon River Property from St Andrew’s Goldfields in 2007.
Highlights of the Sturgeon River Property:
- Past producing gold mine on property (Production of 73,322 ounces gold, 15,929 ounces silver, 1938-1942)
- Excellent infrastructure: road access and near-by power supply
- Geopolitical stability: mining friendly Ontario
- Laurion’s land package (4,522 hectares) has 120 high grade quartz veins enveloped by shear zones hosting gold and base metal mineralization zones
- Extensive sampling and ground geophysics (IP, VLF-EM) work completed throughout the property, resulting in the identification of high priority zones
- Priority targets for shear hosted gold and possible gold rich VMS style deposits have been identified in multiple zones throughout the property (Asha, Akhi, Tehya)
LME:CA
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