Explor Resources Inc.

Explor Resources Inc.

February 19, 2010 16:05 ET

Explor Acquires Tardif Brook Gold Property

ROUYN-NORANDA, CANADA--(Marketwire - Feb. 19, 2010) - Explor Resources Inc. (TSX:VENTURE EXS) is pleased to announce the acquisition 30 mineral units totalling 654.8 hectares, situated in Restigouche County, province of New Brunswick, known locally as the Tardif Brook.

Explor Resources inc., will pay $5,000 CDN and issue 50,000 common shares for an Option to acquire 100% interest in the Tardif Brook mineral claims. The Optionee has retained a 2.0% NSR in the property. This acquisition is subject to regulatory approval.

The Tardif Brook Gold Property is located in Restigouche County, 2.5 kilometers north of Mount Carleton Provincial Park and 2.0 kilometers northeast of Mount Villebon. It is bounded on the north by Highway 180 and extends to about 1.8 kilometers to the south as shown on the attached property map as claim block #5683. The property is easily accessible from Bathurst via Highway 180 an all-weather paved road to Saint Quentin, New Brunswick.

The Tardif Brook Gold Property is in a relatively unexplored part of northern New Brunswick, in Lower Devonian rocks of the Tobique Chaleurs Zone. The property is to the east and contiguous to the Mount Villebon Property which was acquired by staking in 2008 and is 100% owned by Explor Resources. It is 1.5 kilometers east of the Moose Brook Cu-sulphide mineral occurrence which has been the focus of the Company's exploration activities in New Brunswick in 2008 and 2009. 

A recent stream geochemical sampling program conducted in the fall of 2009 on the Moose Brook and the Mount Villebon properties returned gold values of up to 195 ppb. Approximately 75% of the 103 stream sediment samples tested contained values above the detection limit (1.0 ppb Au). The average of those values above the detection limit was 27.4 ppb Au. The highest values of gold-in-stream samples were taken within 600 meters of each other on the same stream (Moose Brook) and were along the east boundary of the Mount Villebon Property. One sample, located 2.7 kilometers to the northeast of the 199 ppb sample, assayed at 78 ppb Au just off the east boundary of the Mount Villebon Claim Group (Claim Block #5509). This follows the known geological and structural trend along the interpreted Ramsay Brook Fault which trends to the northeast through the middle of the property. 

Explor plans on conducting a two phase exploration program. Phase I will consist of line cutting and geophysics to determine the location of the structural targets. Phase II will consist of diamond drilling the identified target or targets.

Christian Dupont P.Eng is the qualified person responsible for the information contained in this release.

Explor invites its investors to visit our booth #2122 at the Investor Exchange of the PDAC 2010 located in the south building of the Metro Toronto Convention Center from March 07 to March 10, 2010.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The Belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Company is headquartered in Quebec and was incorporated in Alberta in 1986.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS).

This press release was prepared by Explor Resources Inc. Neither the TSX Venture Exchange Inc nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release. 

This document may contain forward-looking statements relating to Explor's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

A map is available at the following address: http://media3.marketwire.com/docs/map_explor_0219.pdf

Contact Information

  • Explor Resources Inc.
    Christian Dupont, President
    800-388-8668 or 819-797-4630
    819-797-6050 (FAX)
    Bay Street Connect Inc.
    Investor Relations: Michael D'Amico