Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

February 17, 2011 14:26 ET

Explor Intersects 135.04 G/Tonne AU Over 3.1 Meters on Timmins Porcupine West

ROUYN-NORANDA, CANADA--(Marketwire - Feb. 17, 2011) - Explor Resources Inc. (TSX VENTURE:EXS)is pleased to announce the results of six (6) drill holes being the next series of holes completed on the previously announced 10,000 meter (Phase III) diamond drilling program. Hole #30 to hole #36 are reported in this press release. Other significant intercepts include 9.22 g/tonne over 11.0 metres, 18.04 g/tonne over 3.7 metres, 12.52 g/tonne over 4.1 metres, 10.08 g/tonne over 4.3 metres, 82.30 g/tonne over 1.5 metres, 36.21 g/tonne over 1.5 metres, 10.064 g/tonne over 3.5 metres.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc commented: "We are extremely pleased and encouraged by these excellent drill results. The intercepts reported confirm our idealised 3D Hollinger-McIntyre isometric model (attached) which forecasts that grades and widths would increase at depth. It is also evident that there is a significant increase in grade as we proceed west towards the Lakeshore property. We have added a second drill to the property and will complete an additional 10,000 meters of diamond drilling. There remains approximately 1.0 kilometers of ground to the west and along strike that still remains to be explored."

On November 23rd 2010, we announced an intercept of 11.0 metres of 9.22 g/t and that the strike length of gold mineralization had increased to 1975 meters. The latest round of drilling confirms the emergence of an identifiable block model over 2.5 kilometers along strike and open at depth, the highly mineralised 'pay zone' appearing to lie between the 550 and 850 metre levels. The deeper target, we refer to as the hinge line on the block model, may lie at around 950 metres of depth.

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 and 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. Our drilling is confirming an almost identical model being stacked veins that pinch and swell of variable grades, some of which are bonanza.

The "A" Zone identified through modelling strikes east northeast and dips to the north at 70 to 80 degrees. The drilling has confirms the association of gold mineralization with Quartz feldspar (QFP) and syenite porphyry, found at both the Lakeshore and West Timmins Properties. Five mineralized zones designated "A" thru "E" have been identified. The larger zones of mineralization display a strong spatial relationship with proximity to syenite intrusive rocks and high Fe-tholeitic volcanic rocks. The model may be viewed on our website: www.explorresources.com.

This series of holes was designed to test the continuity of the width and grade of the high grade intersected in hole # TPW-10-30 (Press Release November 23, 2010). It is interesting to note that the strike length of the gold mineralization is greater than 1975 meters. The structure is still open on strike and at depth. The first phase of drilling was concentrated on mineralized Zone "A" located on the south limb of the geo-syncline. Mineralized Zone "A" is one of five (5) mineralized zones identified on the property.

The programme will continue to test the discovery zone along strike and at depth. The Company is encouraged by that the fact that on the "A" Zone, 35 out of 36 holes have intersected gold mineralization and that grades encountered would in theory, support a profitable future underground mining operation at current gold prices.

The Timmins Porcupine West Gold Property consists of 185 unpatented mining units located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 3000 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 property has been explored since 1927 by numerous ground geophysical surveys and diamond drilling of up to 111 holes. In 1984, Dome Exploration discovered and delineated a gold mineralized zone that was approximately 350 meters long and 45 meters wide and is open below 350 meters of vertical depth.

Diamond Drill Hole #10-30 was drilled 50 meters to the west of Explor's Hole #10-09 and was designed to test the westerly extension of the structure. Hole #10-09 intersected 11.15 meters of 5.38 g/tonne (press release September 15, 2010) while hole #10-30 intersected 11.0 meters of 9.22 g/tonne. The mineralization was confirmed to be open to the west and at depth.

Diamond Drill Holes #31 to #36 were drilled behind and around Hole No. TPW-10-30 (previously reported in press release dated November 23, 2010) and were designed to determine the strike, dip and plunge of the high grade mineralization encountered in Hole #30. The mineralization was confirmed, and the structure remains open on strike and at depth. In addition, a series of wedge holes were drilled from hole #30 to determine the strength and continuity of the high grade gold intersected in hole #30. They are reported below.

Hole # From To Interval Gold 
  (m) (m) (m) (ft) (g/tonne) (oz/ton)
Hole #30* 656.0 657.0 1.00 3.28 1.471 0.043
  726.0 738.0 11.00 36.09 9.215 0.269
  742.0 744.5 2.50 8.20 1.607 0.047
Hole #30W1 654.8 657.9 3.10 10.17 135.04 3.940
  724.8 728.5 3.70 12.14 18.04 0.526
Hole #30W2 567.5 568.8 1.3 4.27 1.409 0.041
  647.4 648.5 1.1 3.61 4.591 0.134
  726.2 732.0 5.8 19.02 7.474 0.218
Hole#30W2A 725.0 729.1 4.10 13.45 12.52 0.365
Hole#30W3 637.3 638.5 1.20 3.94 4.59 0.134
  652.5 654.0 1.50 4.92 1.85 0.054
  726.2 730.5 4.30 14.11 10.885 0.318
Hole#30W3A 645.0 646.5 1.50 4.92 82.39 2.404
  655.5 657.0 1.50 4.92 36.21 1.056
  725.0 728.5 4.50 14.76 6.845 0.200
  735.0 736.5 1.50 4.92 1.147 0.033
  738.0 739.5 1.5 4.92 2.356 0.069
Hole #31 177.0 180.0 3.00 9.84 3.536 0.103
  220.0 223.0 3.00 9.84 4.438 0.129
  321.3 321.8 0.50 1.64 1.193 0.035
  735.0 738.0 3.00 9.84 0.968 0.028
  746.5 747.0 0.50 1.64 1.108 0.032
  751.0 754.0 3.00 9.64 1.533 0.045
Hole #32 354.0 354.7 0.70 2.30 5.491 0.160
  795.0 797.0 2.00 6.56 3.291 0.096
Hole #33 278.0 280.0 2.00 6.56 2.120 0.062
  339.8 341.1 1.30 4.27 1.447 0.042
  418.6 420.2 1.60 5.25 1.319 0.038
  495.0 496.0 1.00 3.28 6.258 0.183
Hole #34 549.0 550.0 1.00 3.28 1.326 0.039
  567.3 574.5 7.20 23.62 0.935 0.027
Hole #35 471.0 474.6 3.60 11.81 1.376 0.040
  600.0 603.5 3.50 11.48 10.064 0.294
  321.3 321.8 0.50 1.64 1.193 0.035
  735.0 738.0 3.00 9.84 0.968 0.028
  746.5 747.0 0.50 1.64 1.108 0.032
  751.0 754.0 3.00 9.64 1.533 0.045
Hole #36 No Significant Values   

*Notes:

  1. The 11.0 meter intersection of 9.215 g/tonne in Hole #10-30 includes a high grade interval between 730.0 and 734.1 grading 23.69 g/tonne over 4.1 meters.

Our current interpretation is that the syenite porphyry intruded a dilatant zone developed at the intersection of the Porcupine-Destor and South Limb faults. These faults developed along high Fe- tholeiitic metavolcano-sedimentary contacts that provided the necessary Fe to precipitate sulphide mineralization during hydrothermal activity. Along the south limb of the geo-syncline, the high Fe- tholeitic volcanic horizon is often present only as remnant xenolithic or fault mega-blocks due to disruption by the South Limb fault and intrusions of QFP and syenite porphyry.

The structural environment is favourable for large bodies of syenite to have intruded further at depth. The intersections of the major faults and the contacts of the favourable high Fe-tholeitic volcanic host rocks especially near the synclinal fold hinge provide the best target areas.

Results of all Explor's drilling are currently being incorporated into the 3-D Model and will be available on the website in the near future.

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 publicly 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.

To view the plan of the Hollinger-McIntyre Model, please visit the following link: http://media3.marketwire.com/docs/hollinger.pdf

Contact Information

  • Explor Resources Inc.
    Christian Dupont
    President
    888-997-4630 or 819-797-4630
    819-797-6050 (FAX)
    www.explorresources.com
    or
    Investor Relations
    Stratastar Marketing Group LLC
    Gary Lindsey
    720-273-6224