Explor Resources Inc.

Published : October 06th, 2015

Explor Completes Drill Program in Duparquet on East Bay Gold Property

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Explor Completes Drill Program in Duparquet on East Bay Gold Property

ROUYN-NORANDA, CANADA--(Marketwired - Oct 6, 2015) - Explor Resources Inc. ("Explor or the "Corporation") (TSX VENTURE:EXS)(EXSFF)(E1H1.BE)(E1H1.BE) is pleased to announce the results of the East Bay Gold Property exploration program. The analysis of previous exploration by Cambior and the results of the previous exploration program completed by Explor (Press Release Feb. 17, 2014 have confirmed several interesting drill targets. The exploration program consisted of a Phase II 1800 meter drill program.

This program is in line with the Corporation's strategy of conducting exploration along the Porcupine Destor Fault Zone (PDFZ), where several notable gold deposits have been found in the past, including the Timmins mining camp which produced more than 80 million oz of gold. The Corporation now owns 3,842 ha of land along this section of the PDFZ Explor's East Bay property is contiguous and wraps around the western portion of the Clifton Star's Duparquet property as shown on the attached plan. The East Bay property is approximately 0.5 km west of the former Consolidated Beattie and Donchester Gold Mines.The former Consolidated Beattie and Donchester Gold Mines, produced over 1.0 million oz of gold between 1933 and 1956. Clifton Star in a previous press release announced (Press Release dated April 09, 2014) significant proven and probable reserves of 1,895,530 oz at 1.50 g/t Au and a measured and indicated resource of 1,127,972 oz at 1.48 g/t Au on their property.

The East Bay Gold Property is located to the west of the Consolidated Beattie and Donchester Gold Property and contiguous to the ground on which Clifton Star Resources Inc. continues to intersect wide width of gold mineralization (Press Releases dated June 19 and June 6, 2013).

Drilling was aimed at three targets along the prolific fault zone, respectively in Duparquet and Hébécourt Townships. Two on the western portion of the property and one on the eastern portion of the property, consisted of 5 drill holes aggregating 1,868 meters and 928 core samples.

In Duparquet Township, drilling in 2015 focused on a drill hole completed in 1939 which had returned 1.5 m-long intersections grading 685 ppb Au associated with the deformed contacts of feldspar porphyry dyke. A drill hole completed in 2015 (EXS-15-08) was aimed at locating this porphyry and testing its contacts at depth. It confirmed the presence of the porphyry but did not encounter strong deformation or any significant gold mineralization.

In Hébécourt Township, drilling in 2015 consisted of deepening of a 345.0 m-long drill hole completed in 2013 (EXS-13-05) which ended in anomalous gold mineralization. The 2013 drill hole had returned very encouraging results including 2.61 g/t Au over 1.2 m, 2.0 g/t Au over 2.0, as well as a 19.5 m (64 ft) - long interval of gold mineralization ranging from 122 to 809 ppb (0.12 to 0.81 g/t) which included 12.0 m (39.3 ft) grading 540 ppb (0.54 g/t) Au.

All gold zones are hosted by strongly sheared and sericite altered quartz porphyry, marked by 10-40% quartz-dolomite (ankerite?) flooding with fuchsite and locally, tourmaline and epidote; with fine disseminated pyrite occurring in traces to 1-10% locally. Orientation measurements on the tectonic fabric indicated a very steep southern dip (70-80 degrees) which implies that drilling on the targeted mineralized shears was at a low, but still reasonable, angle.

General observations and results obtained in 2015 are summarized below:

Following 6 m of weaker gold at the end of EXS-13-05, drill hole EXS-13-05EX-2015 cored a second 19.5 m-long intersection of anomalous gold marked by higher gold concentrations of 1.6 and 4.0 g/t over 1.5 m intervals. The existence of two "proximal" intervals of anomalous gold of roughly similar lengths could be explained by the intersection of two limbs of a single folded gold zone, the presence of two parallel gold zones, or displacement of a gold zone due to block faulting. This drill hole ended with a 0.5 m-long intersection grading 1.0 g/t gold.

Drill hole EXS-15-06A, collared 5 m behind EXS-13-05EX-2015 was aimed at testing the projection of the gold-bearing shears some 75 m westward. This hole was lost due to unsurmountable drilling problems. Analytical results for this drill hole include 180, 260 and 348 ppb gold over sample intervals ranging 0.8 to 1.5 m.

Drill hole EXS-15-06 collared 11 m behind EXS-13-05EX-2015 was also aimed at testing the projection of gold-bearing shear zones 75 m westward. Drill hole EXS-15-06 confirmed the extension and a widening of the gold-bearing shears to this area, with anomalous gold ranging from 100-719 ppb occurring over a much longer cored interval than in EXS-13-05EX-2015. In addition to scattered metre-long intervals of 50-365 ppb gold, EXS-15-06 returned 3 distinctly wide intersections of geochemically anomalous gold in which most samples returned 50 ppb to 719 ppb; these occurring at 190.5-203.7 m, 209.7-252 m and 271.5 - 341.5 m.

Drill hole EXS-15-07 collared 48 m behind EXS-13-05EX-2015 was aimed at testing the projection of the anomalous gold zones of the latter to greater depths, at least 100 - 125 m along projection. This drill hole did not intersect the expected wide anomalous gold zones intersected at shallower depths, but instead, cored a narrow interval grading 2.2 g/t over 3.0 m including 3.7 g/t over 1.5 m in strongly sheared, altered and pyrite-bearing felsic porphyries.

The 2015 drill program was successful in extending the anomalous gold mineralization along strike to the west of the 2013 drill program.

With very few drill holes completed so far on this gold zone, there is insufficient geological information to clearly understand the complex local tectonics and project the anomalous gold zones with confidence. Because of the presence of sheared and altered felsic porphyries and widespread gold mineralization in the ultramafics, the complex tectonic environment and very encouraging results, further drilling is highly recommended.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "We are extremely pleased with the East Bay property. Explor Resources is the owner of the largest contiguous land package in the Duparquet Mining Camp. This property completes a wraparound to the west and northwest of the structure hosting the Beattie-Donchester Mines. Explor believes that the structure continues onto the Explor ground. Very little substantive exploration has been completed on Explor's East Bay Gold Property."

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 OTCQX (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

This Press Release was prepared by Explor. Neither the TSX Venture Exchange 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, Québec, 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 Québec with approximately 33% in Ontario and 67% in Québec. 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 Corporation was continued under the laws of Alberta in 1986 and has had its main office in Québec since 2006.

Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:

  • Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au)
  • Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au)

Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:

  • Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au)
  • Inferred: 393,000 oz (5,185,000 tonnes at 2.36 g/t Au)

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 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.

A map is available at the following address: http://media3.marketwire.com/docs/1027594A_Fig1.pdf.

Read the rest of the article at finance.yahoo.com

Explor Resources Inc.

EXPLORATION STAGE
CODE : EXS.V
ISIN : CA30215D2086
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Explor Resources is a gold and copper exploration company based in Canada.

Explor Resources holds various exploration projects in Canada.

Its main exploration properties are MONTROSE, DESTOR, EASTFORD LAKE, KIDD TOWNSHIP, SAUVE, GOLDEN HARKER, EAST BAY, OPAWICA, LAUNAY, CARNEGIE, NELLIGAN, TIMMINS PORCUPINE WEST and PG-101 in Canada.

Explor Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 4.4 millions as of today (US$ 3.4 millions, € 3.0 millions).

Its stock quote reached its highest recent level on March 05, 2010 at CA$ 8.10, and its lowest recent point on June 07, 2019 at CA$ 0.02.

Explor Resources has 146 770 000 shares outstanding.

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Financings of Explor Resources Inc.
6/13/2013Closes a Private Placement of $750,000
2/19/2013Closes a Private Placement of $1,600,000
Option Grants of Explor Resources Inc.
3/13/2013Hires European Investor Relations Firm
7/14/2011Continues With Investor Relations Firm
1/31/2011Grants Stock Options
1/28/2010Grants 2,650,000 Stock Options at $ 0,92
4/7/2008(angl) Grants 1,800,000 Stock Options at $ 0,30
2/19/2008Amendment : increase of Stock options plan to 6,759,986
Nominations of Explor Resources Inc.
7/2/2013Appoints Jonathan Challis to the Board of Directors
Project news of Explor Resources Inc.
9/24/2013(Timmins Porcupine West)Intersects 3.23 g/tonne Au Over 6.0 Meters on Timmins Porcup...
8/13/2013(Timmins Porcupine West)Intersects 5.10 g/tonne Au Over 4.5 Meters on Timmins Porcup...
5/30/2013Resource Update
4/2/2013(Timmins Porcupine West)Intersects 6.90 g/tonne Au Over 6.5 Meters on Timmins Porcup...
1/10/2013(Timmins Porcupine West)To Begin 10,000 Meter Diamond Drill Program On Timmins Porcu...
10/25/2012CORRECTION FROM SOURCE: Explor Resources News Release
10/25/2012(Timmins Porcupine West)Intersects 6.14 g/tonne Au Over 4.50 Meters on Timmins Porcu...
9/26/2012(Timmins Porcupine West)Intersects North Limb of Syncline on Timmins Porcupine West
5/11/2011(Timmins Porcupine West)Intersects 8.12 g/tonne Au Over 15.3 Meters on Timmins Porcu...
3/22/2011(Timmins Porcupine West)Increases Timmins-Porcupine West Property
2/17/2011(Timmins Porcupine West)Intersects 135.04 G/Tonne AU Over 3.1 Meters on Timmins Porc...
2/4/2011(Eastford Lake)Eastford Lake Drill Program Update
1/10/2008(Eastford Lake) Begins Phase IV Exploration Program on Eastford Lake
Corporate news of Explor Resources Inc.
7/28/2016Explor Increases East Bay Property
7/5/2016Explor Closes a Private Placement of Unsecured Convertible D...
6/6/2016Explor increases Kidd Township Property
5/27/2016Explor Increases Ogden Property
5/17/2016Explor Announces Kidd Township Property Diamond Drilling Pro...
5/4/2016Explor Closed a Private Placement of Unsecured Convertible D...
4/20/2016Explor Issues Shares for Services to Agora
4/8/2016Explor Signs Memorandum of Understanding With First Nations
4/8/2016Explor Announces Ogden Property Diamond Drill Program
4/8/2016Explor Resources launches Agora online Marketing and Awarene...
1/14/2016Explor Board of Directors Approves the Restatement of Shareh...
1/14/2016Explor Board of Directors Approve Restatement of the Shareho...
11/4/2015EXPLOR ANNOUNCES START OF DIAMOND DRILL PROGRAM ON TIMMINS P...
11/4/2015Explor Closed a Private Placement of Unsecured Convertible D...
11/4/2015Explor announces a private placement of unsecured convertibl...
11/4/2015Explor Completes Drill Program in Duparquet on East Bay Gold...
11/3/2015Explor Closed a Private Placement of Unsecured Convertible D...
10/28/2015Explor Announces a Private Placement of Unsecured Convertibl...
10/19/2015Explor Announces Start of Diamond Drill Program on Timmins P...
10/6/2015Explor Completes Drill Program in Duparquet on East Bay Gold...
7/22/2015Explor Increases Kidd Township Property
4/21/2015Explor’s Timmins Porcupine West Update
4/21/2015Explor's Timmins Porcupine West Update
3/17/2015Explor Increases Kidd Township Property
2/18/2015Explor Adds European Representation To The Board
2/18/2015Explor Adds European Representation to the Board
2/10/2015Explor Announces the Closing of a Private Placement of Unsec...
1/5/2015Explor Closes A Private Placement For An Amount Of CDN $315,...
1/5/2015Explor Closes a Private Placement for an Amount of CDN $315,...
12/29/2014Explor Signs Option Agreement and Private Placement for the ...
12/29/2014IIROC Trading Resumption - EXS
12/29/2014Explor Signs Option Agreement and Private Placement for the ...
12/24/2014IIROC Trading Halt - EXS
12/23/2014Explor Acquires Ogden Claims
12/23/2014Explor Acquires Ogden Claims
12/22/2014Explor Resources Closes Transaction For The Sale Of The Ches...
12/22/2014Explor Resources Closes Transaction for the Sale of the Ches...
11/25/2014Explor Completes an Exploration Program on the Launay Nickel...
11/5/2014Explor Closes A First Tranche Of A Private Placement For An ...
11/5/2014Explor Closes a First Tranche of a Private Placement for an ...
12/20/2013News Release
12/18/2013News Release
12/7/2013News Release
11/14/2013News Release
10/22/2013News Release
10/22/2013Annual and Special Meeting
9/24/2013News Release
9/17/2013News Release
8/27/2013News Release
8/27/2013Reports NI 43-101 Resource Update: 609,000 Indicated Au oz; ...
7/10/2013News Release
7/8/2013News Release
7/2/2013News Release
6/4/2013Signs Memorandum of Understanding With First Nations
5/24/2013Hires Canadian Investor Relations Firm
5/22/2013News Release
4/16/2013News Release
4/10/2013News Release
4/2/2013News Release
3/15/2013News Release
3/13/2013News Release
2/20/2013News Release
2/19/2013News Release
1/18/2013News Release
10/25/2012News Release
9/26/2012News Release
7/7/2012Continues With Investor Relations Firm
6/6/2012News Release
5/15/2012News Release
5/1/2012News Release
4/23/2012News Release
4/17/2012News Release
4/5/2012News Release
3/27/2012News Release
3/15/2012News Release
3/13/2012News Release
3/8/2012News Release
2/23/2012News Release
2/14/2012News Release
1/18/2012News Release
12/20/2011News Release
12/9/2011News Release
12/9/2011News Release
12/5/2011Reports Initial NI 43-101 Resource / 127,000 Indicated Au oz...
10/14/2011News Release
10/13/2011News Release
10/6/2011News Release
9/23/2011News Release
8/30/2011News Release
8/25/2011News Release
8/17/2011News Release
8/3/2011News Release
7/6/2011(Timmins Porcupine West)to Host an Open Conference Call and Webconference to Discuss...
5/11/2011News Release
5/3/2011News Release
1/21/2008Increases East Bay Gold Property
1/9/2008 Acquires Moose Brook Copper Property
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