Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

October 12, 2010 08:15 ET

Explor Intersects 4.0 Meters of 30.6 g/tonne Au on Timmins Porcupine West

ROUYN-NORANDA, CANADA--(Marketwire - Oct. 12, 2010) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the results of five (5) drill holes being the balance of the 18 holes completed during the most recent drilling program. Holes #23 to #27 are reported in this press release. This series of holes was designed to test the continuity of the grade in the vicinity of the holes that were drilled by Cameco from 2000 to 2003 and Dome Exploration in the early 1980's. This program was designed to find higher grade mineralization. To date every drill hole drilled by Explor on the TPW Property has intersected gold mineralization on the "A" Zone which has a strike length greater than 1875 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. A partial summary of the results is as follows:

Diamond Drill Holes #23 was drilled behind and under Cameco Hole #BRS00-02 that was drilled in 2000 to test the depth extension of the mineralization. The mineralization was confirmed, and the structure remains open on strike and at depth.

Diamond Drill Hole #24 was drilled behind and under Dome Exploration 246-51 that was drilled in the early 1980´s to test the depth extension of the mineralization. The mineralization was confirmed to be open at depth.

Diamond Drill Hole #25 was drilled behind and under Cameco Hole #BRS02-11 to test the depth extension of the mineralization. The mineralization was confirmed to be open at depth.

Diamond Drill Hole #26 was drilled behind and under Cameco #BRS02-12 that was drilled in 2002 to confirm the depth extension of the mineralization. The mineralization was confirmed to be open at depth.

Diamond Drill Hole #27 was drilled behind and under Cameco #BRS02-18 that was drilled in 2002 to confirm the depth extension of the mineralization. The mineralization was confirmed to be open at depth.

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.

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.

Hole #   From To Interval Gold
    (m) (m) (m) (ft) (g/tonne) (oz/ton)
Hole #23   171.0 171.7 0.70 2.30 1.295 0.046
    216.2 216.8 0.60 1.97 2.917 0.103
    220.0 224.0 4.00 13.12 30.558 1.083
    265.0 266.0 1.00 3.28 1.446 0.051
    339.8 340.5 0.70 2.30 2.711 0.096
    357.7 360.0 2.30 7.55 1.587 0.056
    375.0 378.6 3.80 12.47 2.847 0.101
Hole #24   93.5 95.0 1.50 4.22 1.432 0.051
    97.0 98.0 1.00 3.28 1.753 0.062
    109.5 110.5 1.00 3.28 2.806 0.099
    187.7 189.5 1.80 5.91 4.193 0.149
    190.2 190.8 0.70 2.30 2.972 0.105
    214.8 217.2 2.40 7.87 5.445 0.193
    221.0 222.0 1.00 3.28 1.159 0.041
    227.5 228.5 1.00 3.28 2.298 0.081
    237.0 238.0 1.00 3.28 1.033 0.037
    241.0 241.8 0.80 2.63 1.784 0.063
    242.7 243.7 1.00 3.28 1.354 0.048
Hole #25   266.0 266.5 0.50 1.64 1.441 0.051
Hole #26   40.0 41.5 1.50 4.92 2.059 0.073
    81.0 82.0 1.00 3.28 1.611 0.057
    98.0 99.0 1.00 3.28 2.050 0.073
    200.9 205.0 4.10 13.45 5.108 0.181
    301.5 302.0 0.50 1.64 1.441 0.051
    403.0 403.5 0.50 1.64 1.220 0.043
Hole #27   61.7 63.5 1.70 5.58 3.708 0.131
    78.0 78.8 0.80 2.63 1.453 0.051
    124.0 124.7 0.70 2.30 7.782 0.276
    141.0 142.0 1.00 3.28 1.325 0.047

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "We are extremely pleased with the recent drill results obtained on the Timmins Porcupine West Project (TPW). The intersections reported indicate a trend of increasing grade and width. This will be followed up by the Phase III drilling program that was recently reported. The results of all Explor's drilling will be incorporated into the 3-D Model."

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.

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 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.

Contact Information

  • Explor Resources Inc.
    Christian Dupont
    President
    800-388-8668 or 819-797-4630
    819-797-6050 (FAX)
    www.explorresources.com
    or
    Stratastar Marketing Group LLC
    Gary Lindsey
    Investor Relations
    720-273-6224