Explor Resources Inc.

Explor Resources Inc.

February 04, 2011 14:35 ET

Explor Eastford Lake Drill Program Update

ROUYN-NORANDA, CANADA--(Marketwire - Feb. 4, 2011) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the completion of the 2010 Eastford Lake Exploration Program. A total of 3029 meter of Diamond Drilling was completed on the Eastford Lake Gold Property. The 2010 program consisted of 4 holes and was designed to test for extensions of the Lynx Zone along the Eastford Lake Shear Zone (ELSZ) and in a secondary deformation zone crossing the main shear zone. The drill holes are located as per the attached plan map (http://media3.marketwire.com/docs/eastford_lake.pdf) .

The main vein of the Lynx Gold Zone contains visible gold and appears to strike in a north-north westerly direction and is steeply dipping to the south south-westerly direction. The property is situated in the Kerrs, Warden, Milligan Townships and the Rayner Lake area, south-west of Lake Abitibi, Ontario, 90 km 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.

A study realized by Robert Tremblay of Val-d'Or focussed on mapping all structural features and their correlation with gold mineralization. As a result of this review, a first interpretative geological map of the gold-bearing zone was developed. The drilling program is based on the positive results that were obtained with this study. The program is designated to determine the strike of the high grade mineralization that was found in Hole #7.

Explor Resources Inc. has released the results of four diamond drill holes drilled during 2010 on their Eastford Lake Gold property. Holes 24 to 27 are reported in this press release. In 2008, hole EG-08-07 drilled 16.6 g/t Au / 12m (the Lynx Zone) within a 400m wide northwest trending shear zone (Eastford Lake Shear Zone or ELSZ). Holes wedged off hole #7 during 2009 confirmed the strong mineralization. (Press release February 09, 2011)

Diamond Drill Hole #EG-10-24 (787m in length) and #EG-10-25 (743m in length) were drilled north of the Lynx zone to test the possibility that a gold bearing, crosscutting fault zone (hole # EG-09-23: 2.3 g/t, 2.0 g/t, 1.4 g/t, 4.6 g/t, 3.6 g/t, 2.4 g/t, 1.0 g/t, 1.6 g/t Au) may be the NNE trending extension of the Lynx Zone. The best assay from hole EG-10-24 was 512 ppb, and from hole EG-10-25 was 414 ppb.

Diamond Drill Hole #EG-10-27 (750m in length) was designed to test the crosscutting fault zone south of the Lynx Zone. Best assay was 153 ppb.

Diamond Drill Hole EG-10-26 (749m in length) tested the 400m wide main shear zone about 200m northwest of the Lynx Zone. The best assays are shown below.

Hole # From   To                Interval               Gold  
  (m ) (m ) (m ) (ft ) (g/tonne ) (oz/ton )
EG-10-26 87.2   88.2   1.00   3.28   2.260   0.066  
  117.5   119.0   1.50   4.92   1.130   0.033  
  120.5   122.0   1.50   4.92   2.810   0.082  
  132.5   134.0   1.50   4.92   3.700   0.108  
  198.5   200.0   1.50   4.92   1.580   0.046  

The results of the 2010 diamond drill program suggest the following:

  1. The cluster of gold assays in hole EG-10-26 occur along structural, lithological and alteration that strike northwest of the Lynx Zone. This suggests that the strongest known Au mineralization in the immediate area (including the Lynx Zone) occurs within and is controlled by the northwest trending Eastford Lake Fault Zone.

  2. The multiple Au intersections grading up to 4.6 gpt in previously drilled hole EG-09-23 may indicate a separate gold zone parallel to the Lynx Zone, or, it may be controlled by the crossfault.

The discovery of the Lynx Gold Zone in this largely unexplored area represents a major technical success. As a possible new gold camp associated with the regional Destor-Porcupine Fault, it requires further systematic drilling to test and improve the proposed geological model, extend the known gold zones and search for new mineralized zones elsewhere on the property. Explor will incorporate these positive results in the Eastford Lake Model and continue with the Exploration of this possible new gold camp.

Explor invites investors to visit our booth #2122 at the Investor Exchange of the PDAC 2011 located in the south building of the Metro Toronto Convention Center from March 06 to March 09, 2011.

Chris Dupont P.Eng is the qualified person 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. 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
    888-997-4630 or 819-797-4630
    819-797-6050 (FAX)
    Stratastar Marketing Group LLC
    Gary Lindsey
    Investor Relations