X-Ore Resources Inc.

Published : November 21st, 2008

FIRST GOLD INTERCEPTS 9.07 G/T AU OVER 6.0 M AT CROINOR

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Keywords :   Canada | Diamond | G Mexico | Gold | Market | Mexico | Precious Metals |

 Press release

 

X-ORE : FIRST GOLD INTERCEPTS 9.07 G/T AU OVER 6.0 M AT CROINOR

 

Val-d'Or (Quebec), November 21st, 2008 - X-Ore Resources Inc. (TSXV : XOR) ("X-Ore") is pleased to announce the latest results from First Gold Exploration ("First Gold") (TSXV : EFG) Diamond drilling program on the Croinor property (optioned by First Gold, see press release dated May 1st, 2007) and located east of Val-d'Or in the Abitibi region, Quebec. Work performed has allowed to extend the mineralization both laterally and vertically.

 

First Gold completed 4,505 meters of Diamond drilling on the Croinor 1 project in 2008 (host of the Croinor gold deposit). The total meterage for 2007 and 2008 adds up to 12,914 meters. The best drill results (see below) were obtained on and around the known deposit. Drilling location map is available on the web site.

 

Hole number Interval (m) Grade Au / Length

CR08-348 138 to 142 4.36 g/t over 3.0 meters

198 to 202 4.67 g/t over 4.0 meters

221 to 223 3.80 g/t over 2.0 meters

CR08-349 255 to 260 4.74 g/t over 5.0 meters

CR08-351 262 to 263 1.76 g/t over 1.0 meter

CR08-352 162 to 164 2.31 g/t over 2.0 meters

CR08-353 154 to 157 3.20 g/t over 3.0 meters

170 to 171 2.21 g/t over 1.0 meter

191 to 192 2.54 g/t over 1.0 meter

CR08-354 155 to 156 4.25 g/t over 1.0 meter

159 to 162 2.65 g/t over 3.0 meters

166 to 169 4.99 g/t over 3.0 meters

170 to 172 5.33 g/t over 2.0 meters

190 to 192 14.26 g/t over 2.0 meters

209 to 210 (visible Au) 13.57 g/t over 1.0 meter

CR08-356 151.3 to 154 1.83 g/t over 2.7 meters

CR08-357 176 to 181 2,.30 g/t over 5.0 meters

CR08-358 185 to 187 2.90 g/t over 2.0 meters

CR08-359 107 to 108 6.22 g/t over 1.0 meter

CR08-360 218 to 219.5 8.13 g/t over 1.5 meters

251 to 253 5.41 g/t over 2.0 meters

CR08-361 182 to 186 1.35 g/t over 4.0 meters

CR08-362 179.5 to 181 8.51 g/t over 1.5 meters

CR08-363 72 to 78 9.07 g/t over 6.0 meters

 

Preliminary indications are that the true widths of the mineralized intervals are roughly equivalent to 66% of core lengths. Assays have not been cut. The 2005 independent NI43-101 report on the Croinor deposit indicated that the bulk of the tonnage had been defined from surface down to the 150 meter level (approximately a 200,000 oz Au - resource estimate for all categories). Drilling by First Gold Exploration extended the mineralization down to the 300 meter level. More importantly, this work defined a particularly extensive and continuous vein system between levels 100 and 300 meters. Zone 5, which was defined as having a down dip extension of only 86 meters in the 2005 NI43-101 report, has now been traced down dip for more than 200 meters and laterally for 400 meters to become one of the most important vein system at Croinor. This is a very positive development for X-Ore and First Gold since the mineralization at Croinor was known to be somehow erratic and discontinuous. Zone 5 demonstrates clearly that mineralized shear-vein structures at Croinor can offer good continuity and grade. In fact, recent drilling is indicating that the Croinor mineralized system can be divided into three main "en echelon" shear zones, separated by approximately 50 meters vertically. The deepest shear hosts the Zone 5 veins between the 150 and 300 meters levels.

 

In addition, during the summer of 2008, First Gold completed 3,825 meters of drilling on the Croinor 2 project which surrounds the Croinor 1 mining lease. The 2008 drilling campaign on Croinor 2 only reported sub-economic results. As projected, Golder Associ�s Lt�e of Val d'Or was commissioned to prepare a scoping study. Moreover, Pierre O'Dowd, P.Geo will also complete a new NI43-101 resource calculation. "2008 has been a great year for First Gold Exploration as we have accomplished all our objectives and kept our engagements. We are looking forward to the economic valuation of this project by Golder Associ�s Lt�e", comments Eric Leboeuf, President of First Gold Exploration. All the samples were analyzed by Laboratoire Techni-Lab located in Ste-Germaine-Boul�, Quebec using atomic absorption of 30 grams pulp samples and fire assay with gravity finish. First Gold has implemented a QAQC program which includes the use of standards, blanks and duplicate samples. Mr. Pierre O'Dowd, a Qualified Person under NI 43-101 has revised and approved the technical content of this release. Mr. O'Dowd also supervises the field work be executed on the project.

 

About X-Ore Resources Inc.

X-Ore Resources is a mineral exploration company with 18 properties located in known gold regions of Mexico and Canada, including the prolific Sierra Madre Gold Belt and the Val-d'Or region of Quebec.

 

The TSX Venture Exchange does not accept responsibility for the accuracy of this press release. This press release contains �forward-looking statements� not based on historical facts. Forward-looking statements express, as of the date of this press release, our estimates, forecast, projections, expectations and opinions as to future events or results. Forward-looking statements herein expressed are reasonable, but involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, fluctuations in the market price

of precious metals, mining industry risks, uncertainty as to calculation of mineral resources and requirements of additional financing and the capacity of the Company to obtain financing.

 

- 30 -

For further information please visit X-Ore's website at www.x-ore.com or contact:

 

Mr. L�on M�thot

President and CEO

Tel.: (819) 824-5422

 

Mr. Paul Goulet

Investor Relations

Tel.: (514) 710-8290

gouletp@commgo.com

 

 

Data and Statistics for these countries : Canada | Mexico | All
Gold and Silver Prices for these countries : Canada | Mexico | All

X-Ore Resources Inc.

EXPLORATION STAGE
CODE : XOR.V
ISIN : CA9837921027
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X-Ore is an exploration gold and silver company based in Canada.

Its main exploration properties are CHIMO - NOVA, STURGEON LAKE, BEL-RIVE, COURVILLE PROPERTY, FAIRBANK, LAC TAVERNIER, PASCALIS, PERSHING PROPERTY, GREENWATER LAKE, TEX-SOL, BELCOURT and BRUELL in Canada and ALAZANA, EL JABALI, LA NUEVA ESCONDIDA and NATORA in Mexico.

X-Ore is listed in Canada. Its market capitalisation is CA$ 5.7 millions as of today (US$ 5.7 millions, € 4.0 millions).

Its stock quote reached its highest recent level on April 08, 2004 at CA$ 0.61, and its lowest recent point on February 13, 2009 at CA$ 0.03.

X-Ore has 81 760 425 shares outstanding.

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Financings of X-Ore Resources Inc.
4/10/2006closes $1.5 million private placement
Project news of X-Ore Resources Inc.
11/21/2008(Croinor)FIRST GOLD INTERCEPTS 9.07 G/T AU OVER 6.0 M AT CROINOR
Corporate news of X-Ore Resources Inc.
10/18/2013MQR - Signed an agreement to Acquire Sole Control of X-Ore
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