Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

May 06, 2008 15:00 ET

Explor Completes Phase IV Diamond Drilling: Eastford Lake Gold Project

Update on Kidd Township Exploration Program

ROUYN-NORANDA, CANADA--(Marketwire - May 6, 2008) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce that Phase IV diamond drill program, totaling 3071 m in six (6) holes, has been completed on the Eastford Lake Gold Property. The property is situated in the Kerrs, Warden, Milligan Townships and the Rayner Lake area, south-west of Lake Abitibi, Ontario, 90km east of the Timmins-Porcupine gold mining camp. The Eastford Lake Property consists of 170 contiguous unpatented mining units for a total of 3,100 hectares

The 2008 diamond drilling program targeted a moderate soil Arsenic anomaly delineated by Enhanced Enzyme Leach (EEL) soil sampling and a strong Soil Gas Hydrocarbon (SGH) suggestive of economic gold mineralization (Actlabs interpretation).

Although economic gold grades have yet to be encountered, numerous gold assays up to 1.62 gpt over 3.5 m have been found associated with disseminated pyrite and quartz/carbonate stockworks within narrow to broad bands of ankerite alteration. Host rocks are altered quartz-feldspar porphyry, basaltic komatiites and pyritic jasperoid cherty sediments. The last two holes, EG-08-05 and EG-08-06 are the most encouraging:

Hole EG-08-05, 785 m in length intersected mixed, bleached, cherty metasediments, quartz-feldspar porphyry, jasperoid cherty sediments, carbonatized and locally fuchsitic ultramafics and bleached tholeiitic basalt. Gold assays included:

0.31 gpt / 3.0 m and 0.37 gpt / 1.0 m in cherty metasediments

1.07 gpt / 1.0 m and 0.84 gpt / 1.0 m in bleached ankeritic ultramafics

1.62 gpt / 3.5 m in jasperoid cherty metasediments

0.22 gpt / 1.0 m and 0.11 gpt / 1.0 m in fuchsitic carbonatized ultramafics

0.16 gpt / 1.0 m in bleached, ankerite and albite altered tholeiitic basalt

Hole EG-08-06, 800 m in length contained ankeritic, bleached metasediments with numerous quartz-feldspar porphyry dykes, weakly to intensely ankerite altered ultramafics, and jasperoid, cherty sediments with abundant secondary pyrite. Gold assays included:

0.31 gpt / 5.0 m in bleached quartz-feldspar porphyry

0.37 gpt / 2.0 m and 0.52 gpt / 2.0 m in pyritic jasperoid cherty sediments

0.13 gpt / 1.0 m and 0.10 gpt / 3 m in ankerite carbonatized ultramafics.

The combination of widespread ankerite alteration and gold mineralization hosted by many different rock types, including quartz-feldspar porphyry, altered ultramafics, tholeiitic basalt and metasediments are reminiscent of the diverse types of gold mineralization found in major gold camps (e.g. Hollinger- McIntyre System and Dome Mine in the Porcupine Gold Camp).

These two holes, along with the geophysics have created a vector pointing in the direction of a 600 m long magnetic low along strike of the gold intersections as well as an untested strong multi-element (W, Mo, base metals) Enhanced Enzyme Leach anomaly. Hole # 7 targeting the 600 m long mag low has been started and has intersected a 40 m long mineralized zone. The drill is presently at 400 meters and 200 meters from the target zone.

The Kidd Township Exploration Program is on track with the geophysical interpretation having recently been received. Once Eastford Lake Hole # 8 is completed (expected Mid May 2008), a press release will be issued enumerating the targets and announcing the start of the Kidd Township Exploration Program.

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. and is 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.

Contact Information

  • Explor Resources Inc.
    Christian Dupont, President
    800-388-8668 or 819-797-4630
    1-819-797-6050 (FAX)
    www.explorresources.com