News:
Laurion Mineral Reports Drilling Results at Davidson-Tisdale
Thursday April 12, 10:59 am ET
Issued and Outstanding 32,325,776 Common Shares
TORONTO, April 12 /CNW/ - Laurion Mineral Exploration Inc. (LME-TSXV) is pleased to announce the drilling results from the recent phase eight exploration program on the Davidson-Tisdale Property, Timmins, Ontario. The program commenced in January 2007 and was completed in February. Drilling was conducted on both the Main Zone and the adjacent S-Zone. Seven holes were drilled and eight holes re-entered and deepened during this eighth phase of the
Vedron Gold Inc. work commitment on the Davidson-Tisdale Property which consisted of a total 2,451 metres drilled.
Exploration drilling was designed to test for the east extension of a gold bearing quartz vein zone below a depth of 600 feet (200 metres) within the Main Zone alteration package. The eastern extension of the quartz vein was intersected but failed to return gold assays. One hole intersected a favorable result below the target of 12.86 gram per tonne over 1.2 metres. Drilling was also conducted at the S-Zone where six holes of infill drilling totaling 1176 metres were completed of which three intersected significant mineralization. Drilling at the S-Zone was conducted to test the margins of a proposed chute of higher grade gold mineralization delineated in historic drilling on the large S-Zone structure. Anomalous gold results were intersected and are set out in the table below.
The following table summarizes the highlights of assay results of the January - February 2007, 2,451 metre drill program.
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Assays
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To Length Length Oz/ton Grams/tonne
Zone Hole No. From (m) (m) (m) (ft) Au Au
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Main Zone 04-331b 303.0 304.0 1 3.3 0.064 2.19
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05-354b 362.0 363.5 1.5 4.9 0.133 4.56
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05-355b 391.0 392.0 1.2 4.0 0.375 12.86
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S-Zone 07-359 69.64 71.1 1.46 4.8 0.242 8.3
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07-360 31.0 31.8 0.8 2.6 0.118 4.06
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33.6 35.0 1.4 4.6 0.134 4.59
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85.0 86.1 1.1 3.6 0.043 1.47
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87.5 88.6 1.1 3.6 0.038 1.3
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07-361 123.5 125 1.5 4.9 0.032 1.1
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173.3 174.6 1.3 4.3 0.152 5.35
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All exploration work on the Davidson-Tisdale was conducted under Kenneth Guy, P. Geo., designated Qualified Person for Vedron Gold. Gold analyses of samples collected by Vedron were conducted by Laboratoire Expert in Rouyn-Noranda, Quebec. Analyses consisted of a fire assay of a 30-gram sample with an atomic absorption finish. Samples assaying over 1.0 gram per tonne Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analysed via the total metallic assay method. A rigorous Quality Control and Assurance program (QC/QA) is in place, using control samples such as Blanks and Rocklabs Standards and duplicate checks. In addition, duplicate analyses of 10% of the samples were corroborated by check assays on sample pulps performed by Bourlamaque Laboratory of Val D'Or, Quebec.
Vedron reported that it had received key PTTW (Permit To Take Water) permits that are required to commence operations from the Ministry of the Environment for the Davidson-Tisdale property.
A National Instrument 43-101 technical report with gold mineral inventory estimates for the Davidson-Tisdale has been filed by Vedron on sedar.com on April 2, 2007.
As at December 31, 2006, Vedron is calculated to have acquired a 60% interest in the Davidson-Tisdale Property. Pursuant to the Second Amended and Restated Option Agreement between the Corporation and Vedron dated December 30, 2005 (the "Second Restated Vedron Agreement"), providing Vedron with the right to accelerate its earning of a 51% interest in the Davidson-Tisdale Claims at any time prior to December 31, 2005, by making by making certain payments and deliveries to the Corporation. In addition, the Second Restated Vedron Agreement provides that Vedron; (a) has the option of earning an additional 9% interest in the Davidson-Tisdale Claims by spending an additional $1,000,000 in exploration expenditures on such claims by March 14, 2008; (b) the option of acquiring an additional 15% interest by making scheduled payments totalling $1.575 million. Vedron has completed the first anniversary payment under this option arrangement.
The Corporation is expecting a payment of $425,000 on or before April 30, 2007. To date Vedron has earned a total of 60% interest into the Davidson-Tisdale Property.
The Corporation expects Vedron to continue its exploration program on the Davidson-Tisdale Claims during 2007 to complete its commitment pursuant to the Second Amended and Restated Option Agreement by March 14, 2008.
Laurion Mineral Exploration Inc. is an early stage exploration specialist company with projects in Timmins, Ontario. Laurion's exploration horizons encompass not only gold, but also base metals and PGE's.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein and does not accept responsibility for the
adequacy or accuracy of this release.
For further information
Laurion Mineral Exploration Inc., Cynthia Le Sueur-Aquin - President, Tel: (705) 788-9186, Fax: (705) 788-9187, Website: www.laurion.ca
CHF Investor Relations - www.chfir.com, Cathy Hume, CEO cathy@chfir.com
Barry Leung - Broker Relations Account Manager, barry@chfir.com, Tel: (416) 868-1079
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