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Explor Resources Inc. (TSX VENTURE:EXS - News) is pleased to announce
the results of three (3) drill holes being the first series of holes on the
previously announced 10,000 meter (Phase III) diamond drilling program. Holes
#28, #29 and #30 are reported in this press release. This series of holes was
designed to test the continuity of the width and grade in the vicinity of the
holes that were completed during Explor recently completed Phase II Diamond
Drill Program. (Press Release Dated September 15, 2010, September 30, 2010
and October 12, 2010). To date every drill hole drilled by Explor on the TPW
Property has intersected gold mineralization on the "A" Zone. It is
interesting to note that this drilling has increased the strike length to
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. A partial
summary of the results is as follows:
Diamond Drill Hole #28 was drilled
behind Explor Hole No. TPW-10-12 and was designed to test the high grade
mineralization that was encountered in Hole #12. The mineralization was
confirmed, and the structure remains open on strike and at depth.
Diamond Drill Hole #29 was drilled
behind Explor's Hole No. TPW-10-21 and was designed to test if the
mineralization was continuous under Hole #21. The mineralization was
confirmed to be open at depth.
Diamond Drill Hole #10-30 was drilled 50
meters to the west of Explor's Hole #10-09 and was designed to test the
westerly extension of the structure. Hole #10-09 intersected 11.15 meters of
5.38 g/tonne (press release September 15, 2010) while Hole #10-30 intersected
11.0 meters of 9.22 g/tonne. The mineralization was confirmed to be open to
the west and at depth.
The Timmins Porcupine West Gold Property
consists of 185 unpatented mining units located in the Bristol and Ogden
Townships in the Timmins-Porcupine Mining Camp for a total 3000 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.
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.
Hole # From To Interval Gold
------------- ------------------------------------------------------------
(m) (m) (m) (ft) (g/tonne) (oz/ton)
Hole #28 561.0 562.0 1.00 3.28 1.021 0.030
650.5 651.5 1.00 3.28 8.780 0.256
705.0 706.0 1.00 3.28 1.028 0.030
753.0 754.0 1.00 3.28 5.540 0.162
758.0 759.0 1.00 3.28 1.355 0.040
760.0 761.0 1.00 3.28 1.419 0.041
Hole #29 281.3 282.3 1.00 3.28 4.538 0.132
328.5 329.2 0.70 2.29 1.661 0.049
503.0 504.0 1.00 3.28 1.406 0.041
529.1 534.0 4.90 16.08 4.112 0.120
538.5 541.0 2.50 8.21 4.152 0.121
579.8 580.4 0.60 1.97 6.030 0.176
Hole #30(i) 656.0 657.0 1.00 3.28 1.471 0.043
726.0 738.0 11.00 36.09 9.215 0.269
742.0 744.5 2.50 8.20 1.607 0.047
(i)Notes:
1) The 11.0 meter intersection of 9.215 g/tonne includes a high grade
interval between 730.0 and 734.1 grading 23.69 g/tonne over 4.1 meters.
2) Partial results of Hole #30 are reported above. Results are pending on
the balance of the Hole.
Chris Dupont, President and Chief
Executive Officer of Explor Resources Inc. commented: "We are extremely
pleased with the recent drill results obtained on the Timmins Porcupine West
Project (TPW). The intersections reported indicate a trend of increasing
grade and width as we proceed to the west towards the Lakeshore property.
There is still approximately 1.0 kilometers of ground to the west and along
strike that remains to be explored. The 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 futur."
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.
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 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.
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).
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.
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