Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

October 01, 2009 14:01 ET

Explor Completes Phase III Drill Program on PG-101

ROUYN-NORANDA, CANADA--(Marketwire - Oct. 1, 2009) -

Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the completion of the Phase III exploration program on the PG-101 Gold Property. Phase III consisted of two surface trenches and 3 additional drill holes for 1,016 meters in the area of previously reported hole # PG101-09-01. The trenching was designed to expose bedrock in the area of the drilling for structural interpretations. This drill program was designed to be drilled from the southeast to the northwest to better define the geometry of the mineralization. The Property consist of a 148 mineral claims package totalling 2386.8 hectares, situated in Holloway and Marriott Townships in the Larder Lake Mining Division, District of Cochrane, Province of Ontario known as the PG 101 Gold Property.

The trenching program exposed bedrock 50 meters in front of hole PG101-09-06 (Trench #1) and 15 meters behind hole PG101-09-05 (Trench #2). Sampling and mapping of the exposures were limited due to the depth of the overburden with Trench #1 containing fairly fresh mafic volcanic. Trench 2 exposed a strongly carbonitized unit that was weathered to a rusty brown colour with 5% to 8% narrow quartz-carbonate veining. The samples taken returned no significant gold values.

The drill program was designed to test the strike and dip of the mineralization that was encountered in the initial drilling by Explor Resources and stated in our press release of March 25, 2009. Hole # PG101-09-01 returned an intersection of 52.01 g/tonne gold over a core length of 3.0 meters equivalent to (1.843 oz/ton over 9.84 feet) in an altered high iron basalt with quartz carbonate veining. The drilling was designed to scissor the Phase II drilling but was offset to the east due to a very prominent rock outcrop that restricted the placement of the drill. All holes intersected the favorable mineralization approximately 200 meters down hole. The same mineralized high iron basalt with quartz-carbonate veining adjacent to and lying on the north side of a major graphitic shear is present in all holes. Assays are pending for the present program.

Assays were conducted on sawn NQ sized half-core sections. Further drilling is required before the true width of the reported intersection can be determined. The saw blade is routinely cleaned between samples when visible gold is noted during logging and sampling of the drill core. Assays were conducted by Expert Laboratory facility in Rouyn-Noranda, Quebec using standard fire assay on a 30-gram (one assay tonne) sample with a gravimetric finish procedure. Standard, blanks and check assays were included at regular intervals in each sample batch of 26 samples. Gold standards were prepared by CDN Resource Laboratories Ltd.

The PG 101 Property is underlain by the same succession of mafic volcanic flows, breccias, and tuffs that host the known gold deposits of the area. These volcanic rocks are cut by ENE trending faults that splay from the Porcupine-Destor fault zone ("PDFZ"). The PDFZ is a major deformation zone that crosses along the north boundary of the PG 101 claims in Marriott Township. Proximity to the PDFZ, the Kirkland-Larder lake Break and other similar regional faults are characteristic of significant gold deposits of the Eastern Abitibi greenstone belt.

Chris Dupont P.Eng is the qualified person for Explor Resources Inc. and is responsible for the information contained in this release.

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.

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 filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be 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.

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

This press release was prepared by Explor Resources inc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Explor Resources Inc.
    Christian Dupont
    President
    800-388-8668 or 819-797-4630
    Fax: 819-797-6050
    www.explorresources.com

    or

    Investor Relations: Michael D'Amico
    Bay Street Connect Inc.
    1-647-500-6023