Explor Resources Inc.

Explor Resources Inc.

October 11, 2016 12:35 ET

Explor Announces Kidd Township Property Diamond Drilling Results

ROUYN-NORANDA, QUÉBEC--(Marketwired - Oct. 11, 2016) - Explor Resources Inc. ("Explor" or "the Corporation") (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the Diamond Drilling results on the Kidd Township Property. The Corporation's Kidd Township Group of Properties are located to the North, South, West and East of the Glencore Kidd Creek Mine, located approximately 20 km north of Timmins, Ontario. Explor's Kidd Township's Group of Properties have a land position that covers an area of approximately 2,805.20 hectares. The most obvious topographical feature in the area is the Glencore Kidd Creek open pit mine, located in the central portion of Explor's Kidd Township group of Properties. Explor was so encouraged by the initial results of the 3000 meter program that it decided to more than double the diamond drilling program planned to 7275.7 meters. Explor drilled seven holes & two wedges on three claim blocks, one being in Carnegie Township, northeast of the mine and the other two blocks drilled in Kidd Township, southwest of the mine.

The property is located in a Greenstone Belt composed mainly of sequences of Meta-Volcanic rocks cut by faults and deformation zones that lie in a NW-SE direction. There are many suites of Mafic Volcanic rocks as well. Excellent access to the property is provided by Hwy 655.

Exploration drilling completed by Explor to date has revealed Major Fault Structures running to the west and east of the Glencore Kidd Creek Mine in a NW-SE direction. A thorough review of all existing geophysical data appears to support these findings. Drilling by Falconbridge in 1998 to the southwest of the Glencore Kidd Creek Mine (Hole # K26-01) returned 4.7m in which 4 of the 5 samples returned Zinc values from 4200 - 8900 ppm and Copper values that ranged from 700 - 2280 ppm.

Holes KC-16-01, KC-16-02 and KC-16-05 were drilled in Kidd Township to intersect magnetic highs and fold structures approximately 3 kilometers south and south east of the Kidd Creek Mine. Holes 01, 02 and 05 were very encouraging as they intersected mostly graphitic argillite and felsic lapilli tuffs which are very important zinc-copper ore bearing rocks and marker horizons within the Kidd Creek Mine. Several samples returned anomalous Zinc values from 109 to 737 ppm mostly within sheared graphitic argillite.

Holes KC-16-03, KC-16-04, KC-16-06, KC-16-06A and wedges 06AW1 &06AW2 were drilled in Carnegie Township on the border with Kidd Township approximately 2 kilometers north of the Kidd Creek mine site. Holes KC-16-03 & 04 were drilled bearing south to intersect E-W trending geophysical conductors. Both holes intersected ultramafics, mafic fragmental, felsic to intermediated tuffs and exhalite-chert-tuff units. Hole KC-16-03 intersected several Zinc values from 140 to 15,500 ppm (1.5% Zn) (over 1.0 meters) within the exhalite-chert unit. Hole KC-16-04 was drilled to intersect the exhalite-chert unit up dip from hole KC-16-03. Hole 04 intersected ultramafics, intermediate tuffs, mafic fragmental, lapilli tuff and mafic pillowed flows. Several anomalous Zinc values were intersected, the best being 266 ppm. Hole KC-16-06 was drilled from the east to intersect the exhalite-chert unit down dip from hole KC-16-03. Hole KC-16-06A and its wedges 06AW1 & 06AW2 were completed to 1101 meters and intersected ultramafics and cherty tuffs. More importantly, hole-wedge KC-16-06AW2 intersected parts of the exhalite-chert unit down dip of KC-16-03 with several anomalous Zinc values from 114 to 4024 ppm.

The 2016 Kidd-Carnegie drill program was successful in that it intersected many of the ore bearing lithological units and marker horizons as within the Kidd Creek Mine. As well, the intersection of 4024 & 15,500 ppm Zn (over 1.1 & 1.0 meters respectively) within cherty tuffs and cherty-exhalite was very encouraging and suggests that both claim blocks may host a Kidd Creek Style Copper- Zinc deposit.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "We are extremely pleased and encouraged by these preliminary drill results. The presence of exhalite-chert unit in two of the holes is very significant in terms of exploration. Generally exhalite-chert is proximal to a VMS deposit. This is the first time in our 10 years of exploration around the Kidd Creek mine site that exhalite-chert has been intersected. Explor plans on conducting in the near future a down hole geophysical survey that will see a 200 meter radius around the hole in order to further refine our diamond drilling. We expect to be able to wedge into any targets that are found."

Explor believes in the "Cluster Effect of VMS (Volcanogenic Massive Sulfide) Deposits". Well known examples of the cluster effect of VMS Deposits are the Bathurst Mining Camp where 47 deposits have been found to date, including the Brunswick No.12 and the Brunswick No.6 Mines where more than 130,000,000 tonnes of Base Metal Ore has been produced to date; and the Noranda Mining Camp where 18 deposits have been found to date, with 68,100,000 tons of Base Metal Production from the Horne Mine and Quemont Deposits alone. The Glencore Kidd Creek Mine located to the South-west of the property has produced 152,600,000 tonnes of Base Metal Ore (Cu-Zn-Pb-Ag) since it began production in 1966. The presence of Mafic and Felsic rocks on the Kidd Township Properties with anomalous zinc and copper supports the opinion that additional VMS Deposits exist in the immediate vicinity of the Glencore Kidd Creek Mine.

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

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQX (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

This Press Release was prepared by Explor. Neither the TSX Venture Exchange 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, 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 Corporation was continued under the laws of Alberta in 1986 and has had its main office in Québec since 2006.

Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:
Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au)
Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au)
Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:
Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au)
Inferred: 393,000 oz (5,185,000 tonnes at 2.36 g/t Au)

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 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.

A map is available at the following address: http://media3.marketwire.com/docs/161011_EXS_MAP.pdf

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