Explor Resources Inc.

Explor Resources Inc.

April 17, 2012 08:15 ET

Explor to Drill a Stratigraphic Diamond Drill Hole on Timmins Porcupine West Property

ROUYN-NORANDA, CANADA--(Marketwire - April 17, 2012) - Explor Resources Inc. (TSX VENTURE:EXS)(PINKSHEETS:EXSFF)(FRANKFURT:E1H)(BERLIN:E1H) is pleased to announce the drilling of a stratigraphic diamond drill hole on the Timmins Porcupine West (TPW) Property. The diamond drill hole will be designed to intersect both the North and the South Limb of the syncline as shown on the attached section. The hole is expected to intersect mafic volcanic, porphyry type rock as well as sediments. Explor, is also is testing to confirm the existence of the major plumbing system (faults). The stratigraphic hole is part of the previously announced 30,000 meter drilling program on the Timmins Porcupine West Property. This stratigraphic hole is expected to confirm the mineralization on the North Limb. The North limb is expected to contain mineralization similar to the south and to mirror the south limb. The North Limb is expected to have low grade gold mineralization near surface (up to 300m of vertical depth) and higher grade at depth. To date, drilling has confirmed the model on the south limb and the gold bearing mineralized structure for more than 2000 meters of strike length at a vertical depth from 600 to 900 meters. It is currently open on strike and at depth. The first four phases of drilling (95,000 meters) were concentrated on the south limb and have confirmed a dip of 70 to 80 degrees. Explor Resources 3-D geological model may be viewed on our website: www.explorresources.com.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "This stratigraphic hole will significantly increase our understanding of the geology of the Timmins Porcupine West Mineralized Structure. We expect this hole to confirm the synclinal nature of the model and the associated mineralization."

The Timmins Porcupine West Gold Property consists of 185 unpatented mining units and 3 patented claims located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 3,200 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 Diamond Drilling to date shows the emergence of two types of structural and lithological features typical of known world class gold camps. Its porphyry-hosted gold mineralization resembles that of the Porcupine Camp's Hollinger and McIntyre Gold Mines. We also see the emergence of economically important sediment-hosted gold which is most like the Ashanti Gold Belt in Ghana, West Africa. Because of its unique overall characteristics the West Timmins gold camp can be considered a distinct gold camp with two primary gold target types:

  1. Hollinger/McIntyre type porphyry related gold deposits. The best examples are found on Explor's Timmins Porcupine West Property.

  2. Sediment-hosted pyrite/gold deposits. Examples are Lakeshore Gold's Timmins Mine (former Holmer Mine) and Lakeshore's Thorne Property.

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 technical information contained in this release.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the USA Pink Sheet (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H).

This press release was prepared by Explor Resources Inc.

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 was continued under the laws of Alberta in 1986 and has had its main office in Quebec since 2006.

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 place 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/StratigraphicDiamondDrillHole0001.pdf.

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.

Contact Information

  • Christian Dupont, President
    800-388-8668 or 819-797-4630
    819-797-6050 (FAX)

    Investor Relations:
    Gary Lindsey
    Stratastar Marketing Group LLC