Explor Resources Inc.

Explor Resources Inc.

June 15, 2010 16:30 ET

Explor Starts Drilling on Montrose Gold Property

ROUYN-NORANDA, CANADA--(Marketwire - June 15, 2010) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the commencement of a 2500 meters drill program on the Montrose Gold Property situated in Montrose and Midlothian Townships in the Larder Lake mining division, district of Cochrane, province of Ontario, which acquisition was previously announced (July 17, 2007, April 25, 2008 and November 20, 2009).

The work to be conducted is located in Montrose/Midlothian Townships approximately 8 kilometres northwest of the town of Matachewan. The property is approximately 64 km west of the city of Kirkland Lake, Ontario. Excellent access is provided by Hwy 66 from Kirkland Lake. Explor currently owns 185 mining claims for a total of 3464 contiguous hectares in the area. The most obvious feature in the area is the Young Davidson Mine 10 kilometres to the east of the property. Northgate has reported exploration results up to 46.8 grams/tonne over 9.1 meters on their Young Davidson Property, as per the Northgate press release dated December 20, 2007.

The property is located in a greenstone belt composed mainly of sequences of meta-sedimentary rocks descriptively similar to the Temiskaming meta-sedimentary rocks found in the Kirkland Lake area. The area is characterized by a wide northeast deformation zone of shearing. The claims are located in an area with very little overburden. A total of 60 kilometres of line cutting and geophysics consisting of Mag/Vlf was realized. Approximately 35 kilometres of IP was completed and numerous targets have been delineated on the property.

The local geology in the area of the claims consists of older felsic volcanics unconformably overlain by Temiskaming sediments along an E-W faulted and folded strike with north dips. Older felsic volcanics have been dated in the region at 2711 Ma while the Temiskaming sediments are dated at 2688-­2690 Ma. The felsic volcanics vary from rhyolites to dacites and consist of flows, lapilli tuffs and various fragmentals. The Temiskaming sediments vary from pebble conglomerates greywackes and wackes with minor argillaceous units. Several holes have been drilled by previous exploration companies which describe intrusives of felsic to intermediate composition within the sediments and references to quartz-feldspar-porphyry (QFP) felsic flows within the sediments. Late diabase dykes crosscut all units. Faulting of contacts is widespread both brittle and ductile and controls much of the mineralization and alteration along E-W and NE orientations. Late NW faulting has offset mineralization in several areas.

The Montrose Property is contiguous with the former producing Stairs Mine Property where widespread alteration, generally within sediments, occurs proximal to felsic volcanic contacts. Alteration consists of wide zones of carbonate/pyrite alteration +/- silicification and can obtain widths up to 100-200 m with more intense internal zones of sericite alteration and green mica alteration within the broad carbonate alteration. Gold values are found most commonly with quartz ankerite veins but can also occur in massive sulphide veins, chromic-pyrite veins and sericite alteration.

The Stairs Mine Property was explored from 1909 to 1964 by several groups including Sherwood Gold Mines, Sylvanite gold mines, Riocanex and Stairs Exploration and Mining Company. From 1964-66, Stairs Exploration developed a 700 foot shaft and completed 6,226 feet of lateral development on five levels. Production from a small gravity mill recovered 2,764 oz Au and 1,318 oz Ag from 11,952 tons milled. In 1983, a further 266 oz Au was recovered from 2,700 tons of tailings. The OGS states a "current reserve of 41 ,000t @ 30.2 g/t Au with a probable reserve of 81,000 t @ 8.57 g/t Au" (EMRC-1986 and non current 43-101 compliant).

This eastern most portion of the Stairs Mine Property which is contiguous with Explor's Montrose property has been extensively explored and includes the Pope vein which was partially mined and also contains the C zone, G-9, Marcasite and Chromic veins which were not developed and trend onto Explor's ground. The Mineralized zone trending from the Stairs Mine is 600 m in length and alteration reaches >200 metres in thickness with widespread gold values.

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

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.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Québec, 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 Québec with approximately 33% in Ontario and 67% in Québec. 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 Québec 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 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.

Contact Information

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