Explor Resources Inc.

Explor Resources Inc.

July 16, 2009 16:44 ET

Explor Resources Inc.: Progress Report Eastford Lake LYNX Gold Zone

ROUYN-NORANDA, CANADA--(Marketwire - July 16, 2009) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce that it has completed its most recent round of exploratory drilling. The drilling was completed to determine the location and direction of the LYNX Gold Zone (Press Release June 10, 2008 and February 09, 2009). Explor completed 7 drill holes for a total of 3534.2 meters to test the new model. The main vein of the Lynx Gold Zone containing visible gold and appears to strike in a north-north westerly direction and is 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.

Hole # From To Interval Gold
(m) (m) (m) (ft) (g/tonne) (oz/ton)
Hole # 16 162.0 162.8 0.8 2.62 1.907 0.056
Hole # 17 Zone 1 470.0 471.5 1.5 4.92 1.136 0.033
Zone 2 605.0 606.5 1.5 4.92 1.132 0.033
Hole # 18 - - - - - -
Hole # 19 131.0 132.5 1.5 4.92 3.557 0.104
Hole # 20 323.8 324.9 1.1 3.61 7.562 0.221
Hole # 21 60.5 62 1.5 4.92 2.545 0.074
Hole #07D 410.7 411.7 1.0 3.28 2.854 0.083
429.0 430.5 1.5 4.92 1.559 0.046
442.5 443.5 1.0 3.29 7.674 0.224
471.25 472.50 1.25 4.10 4.626 0.135
475.5 477.0 1.5 4.92 1.183 0.035

Visible Gold (VG) was observed in two of the holes that were drilled. A total pulp metallic assay will be conducted on those areas where VG was observed. Hole #18 had only anomalous values less than 500ppb.

Explor is currently completing a structural analysis of the geology using the holes drilled to date. This analysis will be incorporated into the current geological model. Explor is also completing a Soil Gas Hydrocarbon geochemical sampling program on the property and over the area of gold mineralization. Once both studies are completed, Explor will start a new round of Drilling.

The combination of widespread ankerite alteration and gold mineralization hosted by many different rock types, including quartz-feldspar porphyry, altered ultramafics, tholeiitic basalt and metasediments are reminiscent of the diverse types of gold mineralization found in major gold camps (e.g. Hollinger-McIntyre System and Dome Mine in the Porcupine Gold Camp). Explor will continue drilling the newly defined gold zone once the modelling is complete, which is expected within 2 weeks.

Chris Dupont P.Eng is the qualified person for Explor Resources Inc. and is responsible for the information contained in 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.

Assays were conducted on sawn NQ sized half-core sections. Further drilling is required before the true width of the reported intersection can be determined. The saw blade is routinely cleaned between samples when visible gold is noted during logging and sampling of the drill core. Assays were conducted by Laboratoire Expert of Rouyn-Noranda, Quebec using standard fire assay on a 30-gram (one assay tonne) sample with a gravimetric finish procedure. Standard, blanks and check assays were included at regular intervals in each sample batch. Gold standards were prepared by CDN Resource Laboratories Ltd.

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 filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be 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.

Explor Resources Inc. is a public listed company trading on the TSX Venture (EXS).

This press release was prepared by Explor Resources inc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Explor Resources Inc.
    Christian Dupont, President
    800-388-8668 or 819-797-4630
    819-797-6050 (FAX)
    Investor Relations:
    Bay Street Connect Inc.
    Michael D'Amico