Laurion Mineral Exploration (OTCQX: LMEFF; TSX-V: LME) is set to begin drill programs and exploration activities at its Bell Mountain property in Nevada and Sturgeon River project in Beardmore, Ontario.
At Bell Mountain, the Company has retained Major Drilling of Salt Lake City to complete 4,000 feet of reverse circulation drilling. To date, the Company has completed 55,000 feet of drilling resulting in an inferred resource of 165,018 ounces of gold and 5,533,907 ounces of silver or approximately 265,000 gold equivalent ounces. The Company has initiated a baseline data collection for use in environmental permitting process and has commenced a preliminary economic assessment (“PEA”), both of which the Company expects to complete both the permitting phase and the PEA in Q4 2012 or Q1 2013.
At Sturgeon River, the Company seeks to complete an additional 8 diamond drill holes, including on some of the Company’s recently acquired Elmhirst, Walter-Elmhirst, and Sturgeon Pifher North claims.