Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

July 09, 2007 15:19 ET

Explor Acquires Pyne Township Land Position

ROUYN-NORANDA, CANADA--(Marketwire - July 9, 2007) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the acquisition of a 76 unit mineral claim package (six (6) contiguous mineral claims) situated in Pyne Township in the Larder Lake mining division, district of Cochrane, province of Ontario.

Explor Resources inc., will pay $8,000 and issue 200,000 common shares for an Option to acquire a 100% interest in the 76 unit mineral claims package in Pyne Township. The Optionee has retained a 2.0% NSR in the property. This acquisition is subject to regulatory approval.

The Property is located approximately 60 km northeast of the city of Timmins, Ontario and 35 kilometres south east of the town of Cochrane, Ontario in the southern part of Pyne township. Excellent access is provided via Hwy 574 from Cochrane. The property is approximately 0.5 km west of Arpin on Hwy 574. The mineral claims cover an area of approximately 1230 hectares.

GEOLOGICAL CONTEXT

The property is located in a greenstone belt composed mainly of sequences of meta-volcanic rocks cut by faults and deformation zones. The property is located within the Potter Stock and on a fault known as the Potter Fault where the orientation changes from the dominant east west orientation to 070º, is coincident with the Abitibi belt terrain boundary and lies along the axis of an Archean sedimentary belt. The Nickel Offset (650,000 tons @0.17 oz/ton) and the Franklin Gold (310,000 tons @ 0.23 oz/ton) deposit are spatially associated with the Potter Fault. A review of existing data has revealed a series of interpreted and untested structural anomalies of interest.

Explor plans on conducting a two phase exploration program. Phase I is designed to better determine the location of the structural targets via interpretation of the existing magnetic, EM anomalies, GEOTEM anomalies and geochemical anomalies. Phase II will consist of diamond drilling the identified target or targets.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec and Saskatchewan. 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.

Chris Dupont P.Eng is the qualified person for Explor Resources Inc.

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
    or
    CHF Investor Relations:
    Cathy Hume
    President
    416-868-1079
    cathy@chfir.com