Fundamental Research Initiates Coverage on Laurion Mineral Exploration Inc. ‐ Expanding Gold Resource through Exploration and Development.
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Fundamental Research Initiates Coverage on Laurion Mineral Exploration Inc. ‐ Expanding Gold Resource through Exploration and Development.
TORONTO – September 14, 2011 ‐ Laurion Mineral Exploration Inc. (TSX‐V: LME and OTCQX: LMEFF) ("Laurion") is pleased to announce the receipt of an initiating report issued by Fundamental Research Corp. The update and the full report are available on the Company’s website www.laurion.ca.
The Fundamental Research Report is entitled “Initiating Coverage ‐ Expanding gold resource through exploration and development” and dated 13 September, 2011. The full report is now at www.researchfrc.com.
Fundamental Research stated, “Both flagship properties include several aspects, which we believe will positively influence development."
Laurion Mineral Exploration Highlights
Laurion Mineral Exploration Inc. is an advanced stage exploration company, with aims to become a short to medium term gold producer with a primary focus on gold and secondary interest in base metals.
Laurion holds a 100% interest in two principal properties: the Bell Mountain Project, Nevada, USA and the Sturgeon River Project, Ontario, Canada.
The Bell Mountain property, located in the Fairview Mining District, Churchill County Nevada, is approximately 95 miles southeast of Reno. The Bell Mountain project currently has a NI 43‐101 measured and indicated resource estimate of 9,761,000 tonnes of material at an average grade of 0.526 g/t Au and 17.63 g/t Ag, hosting 165,018 oz gold and 5,533,907 oz silver, and initial Inferred Mineral Resource estimate 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. This Mineral Resource Estimate assumed a gold price of $1,149.89 per ounce and a silver price of $20.92 per ounce. Preliminary estimates for operating costs were $11.43 per ton (mining, processing and G&A) and for recoveries were 80% for gold and 51% for silver. Potential exists for further resource growth on the Bell Mountain Property. Currently, work towards completing the environmental permitting requirements are in progress for the development of baseline needs and mine plan of operations scheduled in 2013, contemplating a conventional open pit and heap leach configuration. A Preliminary Economic Assessment Report is also in progress and is scheduled to be completed in Q4‐2011.
The Sturgeon River Mine Property has a total land package of 4,922 hectares, and is located in Ontario, Canada in the Geraldton‐Beardmore Gold Camp, 120 kilometers northeast of Thunder Bay. Mineralization at the Sturgeon River Property occurs as shear zone hosted lode gold and volcanogenic massive sulphide mineralization (VMS). The shear zone hosted lode gold has been the primary target of
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exploration on the property. Exploration to date has identified over 120 high grade veins as well as several new discovery zones with a high potential for gold rich and base metal bearing VMS hosted deposits defined in a number of zones (such as the Tehya, Asha, Tala, Ahki and Loki zones). All holes drilled in the recent drill programs have encountered Au, Ag, Cu and Zn mineralization.
Through a combination of focussed drilling on delineated several shear zones and sub‐parallel structures with the potential to host gold VMS horizons, Laurion has a strong potential for defining a significant, mineable reserve at the Sturgeon River Property.
The Corporation envisages the realization of shareholder value and wealth through monetization of its discoveries and assets.
About Fundamental Research:
Since 2003, Fundamental Research Corp has been providing the highest institutional quality equity research coverage on small and micro‐cap companies through their extensive distribution network. In 2009, they also started issuing reports on exempt market securities. In 2010, their Top Picks earned them the #3 highest ranked analyst firm with a return of 20.75%, and #1 in the Basic Materials Sector (which includes mining) with a return of 29.07% on third party ranking systems that tracks analysts globally. Their goal from the beginning was to provide high quality research to a broad audience, while adhering to high ethical standards and a strong foundation of integrity.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur‐Aquin – President & CEO Tel: 1‐888‐212‐4070 Tel: 1‐705‐788‐9186 Fax: 1‐705‐788‐9187 Website: www.laurion.ca
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.
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 Laurion's acquisition of the property from Jubilee Gold as described above. 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.
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