Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

March 04, 2010 17:37 ET

Explor's Timmins Porcupine West Diamond Drill Program Update

ROUYN-NORANDA, CANADA--(Marketwire - March 4, 2010) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the completion of a 10,000 meter drilling program on the Timmins Porcupine West Property (TPW). The program was designed to confirm the model announced in the September 11, 2009 press release. The first phase of drilling was concentrated on mineralized Zone "A" located on the south limb of the geo-syncline. Mineralized Zone "A" is one of Five (5) mineralized zone identified on the property. A series of 4 holes drilled perpendicular to the structure and spaced a approximately 300 meter spacing was drilled to intersect and confirm the existence of the mineralized structure at or below 400 meters of vertical depth. To date the mineralized structure has been confirmed for over 900 meters of strike length at a vertical depth of from 400 to 600 meters. It is currently open on strike and open at depth.

The Timmins Porcupine West Gold Property consists of 106 unpatented mining units located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 1,930 hectares. The property is contiguous with Lakeshore Gold West Timmins Mine. The highway 101 bisects the property and provides access from the city of Timmins located 13 km to the east.

The property has been explored since 1927 by numerous ground geophysical surveys and diamond drilling of up to 111 holes. In 1984, Dome Exploration discovered and delineated a gold mineralized zone that is approximately 350 meters long and 45 meters wide and is open below 350 meters of vertical depth.

The "A" Zone identified through modelling strikes east northeast and dips to the north at 70 to 80 degrees. The drilling has confirms the association of gold mineralization with Quartz feldspar (QFP) and syenite porphyry, found at both the Lakeshore and West Timmins Properties. Five mineralized zones designated "A" thru "E" have been identified. The larger zones of mineralization display a strong spatial relationship with proximity to syenite intrusive rocks and high Fe-tholeitic volcanic rocks. The model may be viewed on our website: www.explorresources.com.

Hole # From To Interval Gold
  (m) (m) (m) (ft) (g/tonne) (oz/ton)
             
Hole # 1 542.0 543.5 1.5 4.92 1.29 0.036
  560.5 561.0 0.5 1.64 1.01 0.031
  613.5 614.0 0.5 1.64 2.49 0.072
  689.0 689.9 0.9 2.96 1.19 0.035
  704.5 705.5 1.0 3.28 2.19 0.064
  705.5 706.5 1.0 3.28 1.47 0.044
  788.0 789.5 1.5 4.92 1.34 0.039
  803.0 804.1 1.1 3.61 1.02 0.029
Hole #2 371.0 371.7 0.7 2.30 2.52 0.073
  589.95 591.45 1.5 4.92 1.12 0.032
  618.0 618.6 0.6 1.97 3.89 0.111
  675.15 676.75 1.6 5.25 1.09 0.032
  692.0 693.50 1.5 4.92 1.33 0.038
  697.0 698.0 1.0 3.28 1.35 0.039
  731.0 732.5 1.5 4.92 1.39 0.041
  762.5 764.0 1.5 4.92 4.57 0.131
  764.0 765.5 1.5 4.92 1.93 0.055
  798.5 799.0 0.5 1.64 1.25 0.036
Hole #3 425.0 426.0 1.0 3.28 2.13 0.062
  588.5 589.7 1.2 3.61 1.08 0.031
  666.5 668.0 1.5 4.92 3.82 0.111
  761.0 762.6 1.6 5.25 2.65 0.077
Hole #4 110.0 111.5 1.5 4.92 2.36 0.068
  227.0 228.5 1.5 4.92 1.38 0.041
  372.5 374.0 1.5 4.92 1.29 0.038
  564.15 564.85 0.7 1.61 6.10 0.178
Hole #5 695.2 696.0 0.8 2.62 1.54 0.045
  845.0 845.9 0.9 2.95 3.98 0.114
  940.1 941.0 0.9 2,95 1.32 0.039
  982.8 983.6 0.8 2.62 1.17 0.034
  989.0 990.5 1.5 4.92 1.16 0.033
  1026.5 1028.0 1.5 4.92 1.16 0.033
  1186.2 1186.7 0.5 1.64 1.30 0.038
Hole #6 470.0 470.5 0.5 1.64 1.64 0.048
  483.4 484.1 0.7 2.30 1.01 0.029
  594.5 596.0 1.5 4.92 2.06 0.058
  710.0 711.5 1.5 4.92 2.52 0.073
  742.5 743.0 0.5 1.64 21.39* 0.620
  763.5 764.0 0.5 1.64 4.59 0.134
  780.3 780.6 0.5 1.64 4.11 0.120
  782.0 783.5 1.5 4.92 13.37* 0.391
  784.9 786.2 1.3 4.26 2.98 0.088
  1110.25 1110.9 0.65 2.13 1.99 0.058
  1113.5 1114.0 0.5 1.64 1.37 0.040
*VG has been observed in these intersections.

Assays are pending on Holes # 7, 8, and 9. Hole #7 was drilled approximately 300 meters behind Hole #3 to test the depth extension and grade of the structure intersected by Holes, #1, #2, #3 and #4. Hole #7 has been drilled to 1700 meters in length to intersect the structure at a vertical depth of approximately 800 to 1000 meters. The mineralization found in Hole #7 will be available for viewing at the PDAC. We do not expect to have the results for the last 3 holes before the PDAC.

Due to the strike length and thickness of the mineralized zone that was intersected and the positive results Explor plans on commencing Phase II of the exploration program on TPW. This program will consist of 20,000 meters of diamond drilling and is expected to commence before the end of the month.

Our current interpretation is that the syenite porphyry intruded a dilatant zone developed at the intersection of the Porcupine-Destor and South Limb faults. These faults developed along high Fe-tholeiitic metavolcano-sedimentary contacts that provided the necessary Fe to precipitate sulphide mineralization during hydrothermal activity. Along the south limb of the geo-syncline, the high Fe-tholeitic volcanic horizon is often present only as remnant xenolithic or fault mega-blocks due to disruption by the South Limb fault and intrusions of QFP and syenite porphyry.

The structural environment is favourable for large bodies of syenite to have intruded further at depth. The intersections of the major faults and the contacts of the favourable high Fe-tholeitic volcanic host rocks especially near the synclinal fold hinge provide the best target areas.

The Timmins Porcupine West Project has as a Target Model "The Hollinger-McIntyre-Coniaurum System." The Hollinger-McIntyre-Coniaurum (HMC) System has produced a total of over 30 million oz of gold is spatially associated with the Pearl Lake Porphyry. The high-grade gold bearing quartz veins which hosted the bulk of the gold at the HMC occurred in the adjacent mafic volcanics, located outboard from the porphyry itself.

Chris 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.

Explor Resources Inc. is a public 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. 

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 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, President
    800-388-8668 or 819-797-4630
    819-797-6050 (FAX)
    www.explorresources.com
    or
    Investor Relations:
    Bay Street Connect Inc.
    Michael D'Amico
    1-647-500-6023