Laurion acquires Sturgeon River Mine

Laurion Mineral Exploration, the Canadian junior mineral exploration company, is acquiring the former gold-Producing Sturgeon River Mine, which is located in Beardmore, Ontario. The purchase is being made from St. Andrew Goldfields.

The mine was previously operated from 1936 to 1942, when it produced 73,332 oz of gold and 15,922 oz of silver, from 233,476 tons of ore.

Significant gold mineralisation has been detected in some of its 120 veins and mineralized zones and the mine also has the potential to host zinc-copper VMS-type mineralization.

When the Sturgeon River Mine closed, it was estimated to have reserves of 130,680 tons grading of 0.306 oz of gold per ton, although these figures do not meet current CIM Definition Standards, and should not therefore be relied upon.

Between 1984 and 1986, Phoenix Gold Mines undertook a major surface exploration of 70 veins at Sturgeon River and during this process discovered new significant gold mineralization at one location on the Macjoe part of the mine.