Explor Resources Inc.

Explor Resources Inc.

March 24, 2009 16:10 ET

Explor Resources: PG-101 Discovery Hole-Explor Intersects 52.01 g/t Au Over 3.0 m

ROUYN-NORANDA, CANADA--(Marketwire - March 24, 2009) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the completion and assay results of two (2) drill holes completed on the PG 101 Property. The Property consist of a 101 mineral claims package totalling 1626 hectares, situated in Holloway and Mariott Townships in the Larder Lake Mining Division, District of Cochrane, Province of Ontario known as the PG 101 Gold Property.

The drill program targeted a historic IP survey that was completed in 1991 by Teck Exploration testing areas where there appeared to be gaps in the previous drilling. Hole PG101-09-01 tested a strong IP anomaly in the area of a regional east northeast trending graphitic shear. Hole PG101-09-02 was drilled on the same structure 400 meters to the southwest. Numerous targets remain to be tested (Press Release Dec. 17, 2008).

Hole PG101-09-01 returned an intersection of 52.01 g/tonne gold over a core length of 3.0 meters (equivalent to 1.843 oz/ton over 9.84 feet) in an altered high iron basalt with quartz carbonate veining as well as several other intersections presented in the following table. Hole PG101-09-02 did not return any significant assays. The assays in the following table are only those that assayed above 1.0 g/tonne gold. The following fire assay results as determined Techni-lab of Ste-Germaine de Boule, Quebec:

Hole # From To Interval Gold
(m) (m) (m) (ft) (g/tonne) (oz/ton)
09-01 Zone 1 91.3 92.0 0.7 2.30 3.10 0.110

Zone 2 93.5 94.2 0.7 2.30 1.93 0.068

Zone 3(i) 122.0 125.0 3.0 9.84 52.01 1.843

Zone 4(ii) 132.5 134.75 2.25 7.38 1.95 0.069

(i) This interval of 52.01 gpt over 3.0m includes 83.87 gpt/1.0m, 52.83
gpt/1.3m and 4.97gpt/0.7m The sample interval from 122.0 to 123.0 m
contained numerous small grains of Visible Gold (VG)
(ii) This interval of 1.95 gpt over 2.25m includes 1.66 gpt/1.5m and

Two sets of check assays have confirmed these results. The results as reported are core length, true width has yet to be determined.

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 Techni-lab of Ste-Germaine de Boule, Quebec using standard fire assay on a 30-gram (one assay tonne) sample with a gravimeteric 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.

The PG 101 Property is underlain by the same succession of mafic volcanic flows, breccias, and tuffs that host the known gold deposits of the area. These volcanic rocks are cut by ENE trending faults that splay from the Destor-Porcupine fault zone ("DPFZ"). The DPFZ is a major deformation zone that crosses along the north boundary of the PG 101 claims in Marriott Township. Proximity to the DPFZ, the Kirkland-Larder lake Break and other similar regional faults are characteristic of significant gold deposits of the Eastern Abitibi greenstone belt.

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.

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)
    Explor Timmins Office
    877-264-1273 or 705-264-1273
    705-264-1717 (FAX)