Explor Resources Inc.
TSX VENTURE : EXS
FRANKFURT : E1H
OTCQX : EXSFF
BERLIN : E1H

Explor Resources Inc.

October 25, 2012 08:15 ET

Explor Intersects 6.14 g/tonne Au Over 4.50 Meters on Timmins Porcupine West

ROUYN-NORANDA, CANADA--(Marketwire - Oct. 25, 2012) - Explor Resources Inc. (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H)(BERLIN:E1H) is pleased to announce the results of 8 drill holes being the next series of holes on the diamond drilling program. Holes #12-74, 12-75, 12-76, 12-77, 12-78, 12-79, 12-80, and 12-81A are reported in this press release.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "We continue to be extremely pleased and encouraged by these excellent drill results. The continuity of the mineralization from hole to hole as well as the grade encountered to date with the increasing width as we go to depth are very significant in terms of establishing a potentially large mineable gold resource."

It is important to note that the strike length of the gold mineralization is greater than 2000 meters. The continuity of mineralization continues to be confirmed, and the structure remains open on strike and at depth. All the Diamond Drill Hole reported in this press release were designed to test the continuity of the mineralization. Explor has intersected gold mineralization on 97 out of 98 holes drilled to date.

The mineralization on the south limb strikes east northeast and dips to the north at 70 to 80 degrees. The drilling confirms the association of gold mineralization with Quartz feldspar (QFP) and syenite porphyry, found at both the Lakeshore and West Timmins Properties. The larger zones of mineralization display a strong spatial relationship with proximity to syenite intrusive rocks and high Fe-tholeitic volcanic rocks. The 3D Geological Model may be viewed on our website: www.explorresources.com.

Explor is focused on developing a mineable resource based on the drill results that have been obtained to date. The NI 43-101 technical report has been completed by MRB Associates of Val-d'Or, Quebec and P & E Mining Consultants of Brampton, Ontario (Press Releases dated December 05, 2011 and June 06, 2012). This fall, Explor expects to release a new NI-43-101 technical report that will significantly increase the known resource.

Hole # From To Interval Gold
(m) (m) (m) (ft) (g/tonne) (oz/ton)
Hole #74 656.4 657.2 0.80 2.62 4.409 0.048
Hole #75 264.0 265.5 1.50 4.92 1.542 0.048
408.0 409.5 1.50 4.92 1.368 0.097
436.5 439.7 3.20 10.50 6.206 0.034
473.2 474.0 0.80 2.62 2.061 0.048
480.0 481.5 1.50 4.59 1.005 0.158
Hole #76 301.5 306.0 4.50 14.76 6.014 0.103
376.5 378.0 1.50 4.92 2.361 0.122
531.0 532.5 1.50 4.92 10.460 0.071
Hole #77 177.0 178.5 1.50 4.92 4.760 0.138
327.0 328.5 1.50 4.92 2.160 0.102
448.5 450.0 1.50 4.92 1.990 0.041
505.5 507.0 1.50 4.92 1.252 0.111
Hole #78 391.5 393.0 1.50 4.92 2.665 0.055
751.0 752.0 1.50 4.92 2.040 0.048
Hole #79 156.0 157.7 1.70 5.58 1.470 0.052
211.5 213.2 1.70 5.58 1.950 0.037
238.5 240.0 1.50 4.92 3.500 0.103
287.0 288.0 1.00 3.28 1.990 0.223
394.5 397.6 3.10 10.17 2.672 0.147
423.0 426.0 3.00 9.84 4.476 0.052
Hole #80 190.5 192.5 2.00 6.56 3.387 0.052
246.0 249.5 3.50 11.48 2.180 0.037
329.5 331.0 1.50 4.92 1.265 0.103
343.0 344.8 1.80 5.91 2.390 0.052
437.0 438.0 1.00 3.28 1.120 0.037
471.0 472.5 1.50 4.92 1.003 0.103
496.0 497.0 2.00 6.56 4.208 0.052
Hole #81A 373.5 375.0 1.50 4.92 1.030 0.052
477.0 478.5 1.50 4.92 4.620 0.037
506.0 507.0 1.00 3.28 1.570 0.103
511.5 513.0 1.50 4.92 1.480 0.052
546.0 547.5 1.50 4.92 2.620 0.037
553.5 555.0 1.50 4.92 1.694 0.103
583.5 585.0 1.50 4.92 1.125 0.052

Please note assays are pending.

The NI 43-101 technical report is available on SEDAR and on the Company Website. The results of Explor's drilling have been incorporated into the Timmins Porcupine West Exploration Video which is available for viewing on the website. The Timmins Porcupine West Project has as a Target Model "The Hollinger-McIntyre-Coniaurum System." To date, Explor's drill program has confirmed the idealised Hollinger-McIntyre-Coniaurum (HMC) isometric model. The HMC system has produced a total of over 30 million oz of gold and is spatially associated with the Pearl Lake Porphyry.

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. 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 drill program on the Timmins Porcupine West Property is ongoing.

Chris Dupont P.Eng is the qualified person responsible for the information contained in this release.

Explor Resources invites investors to visit our booth at the following conference:

Booth #2.36 at the Internationale Edelmetall & Rohstoffmesse (International Precious Metals & Commodities) Show located in the Event Arena, Olympiapark Munich, Germany from November 02 to November 03, 2012.

The management of Explor Resources looks forward to having you join us.

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

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

Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. The TPW mineral resource includes: indicated: 212,800 ounces of gold (1,371,000 tonnes at 4.83 g/t Au) and inferred: 814,800 ounces of gold (7,122,000 tonnes at 3.56 g/t Au (Press Release dated June 06, 2012).

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

  • Christian Dupont, President
    888-997-4630 or 819-797-4630
    819-797-6050 (FAX)
    www.explorresources.com

    Investor Relations
    Gary Lindsey
    Stratastar Marketing Group LLC
    720-273-6224