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lounor exploration inc (LO) Details

Lounor Exploration Inc. engages in the acquisition, development, and exploration of mining properties in Canada. It primarily explores for gold, copper, platinum, palladium, and nickel ores. The company holds an option to acquire a 100% interest in the Harker-Hurd project for 21 leased claims covering an area of 320 hectares; and a 50% interest in the Tiger property for 24 claims covering an area of 300 hectares located in Ontario. It also holds 100% interests in the Trecesson property for a block of 7 claims situated in the Trecesson township; Carqueville property comprising 26 claims covering an area of 1040 hectares; and Zinc (Bernieres) property consisting of 16 mining units located in the Bernieres township in Quebec. The company was founded in 1953 and is headquartered in Rouyn-Noranda, Canada.

Founded in 1953

lounor exploration inc (LO) Top Compensated Officers

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lounor exploration inc (LO) Key Developments

Lounor Exploration Listing To Transfer to NEX From TSX-V

In accordance with TSX Venture Policy 2.5, Lounor Exploration Inc. has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective on December 23, 2013, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Montreal to NEX. As of December 23, 2013, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies. The trading symbol for the Company will change from LO to LO.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market. Further to the TSX Venture Exchange (TSX-V) Bulletin dated September 19, 2013, trading in the Company's securities will remain suspended. Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice.

Lounor Exploration Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2012

Lounor Exploration Inc. reported unaudited earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported loss before income taxes of CAD 282,242 against CAD 181,595 for the same period last year. Net loss was CAD 281,439 or CAD 0.00 per basic and diluted share compared to CAD 178,595 or CAD 0.00 per basic and diluted share a year ago. For the nine months, the company reported loss before income taxes of CAD 607,484 against CAD 450,926 for the same period last year. Net loss was CAD 603,489 or CAD 0.01 per basic and diluted share compared to CAD 438,926 or CAD 0.01 per basic and diluted share a year ago. Cash used in operating activities was CAD 226,378 compared to CAD 151,355 a year ago. Exploration and evaluation assets were CAD 82,237 compared to CAD 253,743 a year ago.

Lounor Exploration Inc. Starts Drill Program on the Matagami Gold Property

LOUNOR EXPLORATION INC. announce the start of a drill program on the Matagami Gold Property. The property is located in the Matagami mining camp and is comprised of 106 mining claims located in the Isle-Dieu Township, Province of Quebec, covering a total area of 1,632 hectares. The Matagami mining camp The Matagami Gold Property is hosted by a gold bearing quartz-carbonate vein system. A VSM-type polymetallic occurrence is also present on the northern part of the property has a long history of producing base and precious metals with at least 15 mines to date. The company consultant geologist has discovered the existence and the location of five historic shallow holes less than 80 meters that have returned Cu, Au, Ag, Zn values over width ranging from 5 meters to 9 meters. The values of these historic holes drilled in the 1960 ranged from 1.5% copper to 3.5% copper; gold values ranged from 1g/t to 3 g/t. silver values ranges from 1 g/t to 5 g/t and zinc values ranged from 1.5 % to 3%. Due to the significance of these results in relation to the current price of commodities, Lounor has decided to complete a follow-up exploration program. Lounor completed a gravity survey, a ground electromagnetic survey. Strong conductors were identified and coincide with gravity anomalies. The priority target will be drilled tested in the coming weeks. Geological and geophysical compilation report was completed by MRB and Associates, a geological consulting firm of Val-d'Or, from April 2012 to September 2012. A prospection and trenching campaign was completed at the same time. Large areas of veins and veinlets were discovered. More detailed compilation assessment works are underway and are covering the area where is located the historical mineral inventory. The compilation is realized on an area located 1.5 km south of the polymetallic targets. Lounor is planning to drill the low grade gold targets in the summer of 2013.

 

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