Explor Resources Inc.

Explor Resources Inc.

April 19, 2011 16:30 ET

Explor Intersects 9.41 g/tonne Au Over 7.5 Meters on Timmins Porcupine West

ROUYN-NORANDA, CANADA--(Marketwire - April 19, 2011) -Explor Resources Inc. (TSX VENTURE:EXS)(PINK SHEET:EXSFF)(FRANKFURT:E1H) is pleased to announce the results of eight (8) drill holes being the next series of holes completed on the previously announced 20,000 meter (Phase III) diamond drilling program. Hole #37 to hole #44 are reported in this press release.

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 continue to confirm our idealised 3D Hollinger-McIntyre isometric model (Press Release dated Feb. 17, 2011) which forecasts that grades and widths would increase at depth. The style of mineralization intersected in the holes located around Hole #10-26 is similar to that observed around Hole #10-30. This further confirms the Hollinger McIntyre Model. It is also evident that there is a significant increase in grade as we proceed west towards the Lakeshore property. The property still remains open on strike and at 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.

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 program 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, 45 out of 46 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 and 3 patented claims located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 3200 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.

Holes #11-37 to #11-41 were designed to test the mineralization in and around Hole #10-26 which is located approximately 1.0 kilometres to the south east of Hole #10-30. These holes were to test the shallow mineralization on the south limb up-dip from the high grade intersected in Hole #10-30. In Hole # 10-26 Explor intersected 6 mineralized zones with one zone grading 5.10 grams/tonne over 4.10 meters. (Press Release of October 12, 2010). Numerous low grade gold zones were intersected at shallow depths.

Diamond Drill Holes #11-41 to #11-46 were drilled behind and around Hole # 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. Holes #11-45 and 11-46 are in for assays and the results are pending. It is interesting to note that Hole #11-46 has intersected 50.5 meters of significant mineralization from 858.5 m to 909.0 m. The intersection is 80 meters west of the mineralization in Hole #11-45 and 100 meters down dip of the intersection in Hole #10-30. Wedges are planned to confirm the continuity of the grade and mineralization.

Hole #FromToIntervalGold
Hole #37128.0133.55.5018.052.3670.069
Hole #3890.592.01.504.922.6030.076
Hole #3969.572.53.009.843.2790.096
Hole #41100.3101.91.605.252.4730.072
Hole #42390.0391.51.504.925.1760.151
Hole #43W2747.0748.51.504.921.7630.051
Hole #43W4717.6719.
Hole #43W6757.0762.45.4017.7210.0800.294
Hole #44159.0160.51.504.925.7140.167
1) The 7.5 meter intersection of 9.408 g/tonne in Hole #43W4 includes a high grade interval between 762.7 and 765.2 grading 18.84 g/tonne over 2.5 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.

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), on the USA Pink Sheet (EXSFF) and on the Frankfurt Stock Exchange (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 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

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    Investor Relations: Gary Lindsey