The Sturgeon River Property land package totals 5,382 hectares and consists of 15 mining leases totaling 1,635 hectares, 4 mining leases totalling 64 hectares, 21 claim units totalling 336 hectares, 13 mining claims totaling 179 units totaling 2900 hectares, located in Pifher Township and 30 mining leases covering an area of 447.35 hectares located in the south western quarter of Elmhirst Township. The 100% owned Sturgeon River Property is located in the Beardmore-Geraldton Gold Camp, 120km North-East of Thunder Bay, Ontario.

The Beardmore-Geraldton Gold Camp

The Beardmore-Geraldton Gold Camp ("BGGC") has a production history of over 4.1 million ounces of gold, mined predominantly from high grade quartz vein systems of gold from several deposits located along its 84 kilometre east-west extent, and is up to 21 kilometres wide.

Strategy

Over the last two years, Laurion with their project manager GeoVector Management, have shifted their focus to the largely unexplored sequences of mineralized sericite and quartz rich shear zones, and have been successful at discovering a number of new gold and polymetallic zones along substantial strike lengths.

The Sturgeon River property holdings are composed of gold-silver bearing quartz veins hosted in ENE-WSW trending mineralized shear zones associated with volcanogenic sulphides within felsic to intermediate volcanics. These zones contain significant amounts of base metal sulphides, mainly sphalerite and chalcopyrite.



Geology and Mineralization

The property is underlain by Archean felsic to intermediate volcanics that are intruded by porphyritic granodioritic and dioritic intrusives. The volcanics consist of NE striking and SE dipping rhyollitic units overlying steeply dipping rhyodacities to dacites. Contacts between the flows are gradational. A large foliated granodiorite is located to north, and separated by a major shear zone from the volcanics.

The property is cut by major NE-striking ductile shear zones which are best developed in the eastern part of the claim block. Rocks within this shear zone are carbonatized and contain auriferous quartz veins and stringers. Fine disseminated pyrite is also associated with these shear zones and quartz veins. Minor diabase, felsic to intermediate dykes, and quartz veins cross cut the volcanics. Local dacite porphyry dykes also occur within the main shear zone and tend to be sheared, fractured, and host gold bearing quartz veins. The veins are locally offset by NNE trending faults and cut by ESE to SE striking faults (Laudrum, 1988).

Two main types of mineralization occur on the Sturgeon River Property and are the main exploration targets: 1) shear-hosted lode gold, and 2) volcanogenic massive sulphide mineralization.

The Sturgeon River Property has potential to host several deposit types. These include Archean shear zone hosted lode gold, and volcanogenic massive sulphides (Cu-Zn-Pb-Au-Ag).

Archean shear zone hosted lode gold is the main focus on the property. Silver was also a byproduct of the Sturgeon River gold mine. Significant potential exists to expand on known gold-bearing quartz veins on the property.

Potential for volcanogenic massive sulphide base metals potential exists at or near the felsic intermediate volcanic interface