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Explor
Resources Inc. (TSX VENTURE:EXS - News)is pleased to announce the results of six (6) drill
holes being the next series of holes completed on the previously announced
10,000 meter (Phase III) diamond drilling program. Hole
#30 to hole #36 are reported in this press release. Other significant
intercepts include 9.22 g/tonne over 11.0 metres, 18.04 g/tonne over 3.7 metres, 12.52 g/tonne over 4.1 metres, 10.08 g/tonne over 4.3 metres, 82.30 g/tonne over 1.5 metres, 36.21 g/tonne over 1.5 metres, 10.064 g/tonne over 3.5
metres.
Chris
Dupont, President and Chief Executive Officer of Explor Resources Inc commented: "We are extremely
pleased and encouraged by these excellent drill results. The intercepts
reported confirm our idealised 3D Hollinger-McIntyre
isometric model (attached) which forecasts that grades and widths would
increase at depth. It is also evident that there is a significant increase in
grade as we proceed west towards the Lakeshore property. We have added a
second drill to the property and will complete an additional 10,000 meters of
diamond drilling. There remains approximately 1.0 kilometers of ground to the
west and along strike that still remains to be explored."
On
November 23rd 2010, we announced an intercept of 11.0 metres
of 9.22 g/t and that the strike length of gold
mineralization had increased to 1975 meters. The latest round of drilling
confirms the emergence of an identifiable block model over 2.5 kilometers
along strike and open at depth, the highly mineralised
'pay zone' appearing to lie between the 550 and 850 metre
levels. The deeper target, we refer to as the hinge line on the block model,
may lie at around 950 metres of depth.
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 and 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. Our drilling is confirming an almost
identical model being stacked veins that pinch and swell of variable grades,
some of which are bonanza.
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.
This
series of holes was designed to test the continuity of the width and grade of
the high grade intersected in hole # TPW-10-30
(Press Release November 23, 2010). It is interesting to note that the strike
length of the gold mineralization is 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.
The
programme will continue to test the discovery zone
along strike and at depth. The Company is encouraged by that the fact that on
the "A" Zone, 35 out of 36 holes have intersected gold
mineralization and that grades encountered would in theory, support a
profitable future underground mining operation at current gold prices.
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.
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.
Diamond
Drill Holes #31 to #36 were drilled behind and around Hole No. TPW-10-30 (previously
reported in press release dated November 23, 2010) and were designed to
determine the strike, dip and plunge of the high grade mineralization
encountered in Hole #30. The mineralization was confirmed, and the structure
remains open on strike and at depth. In addition, a series of wedge holes
were drilled from hole #30 to determine the strength
and continuity of the high grade gold intersected in hole #30. They are
reported below.
Hole #
From
To
Interval
Gold
--------------------------------------------------------------------------
(m)
(m)
(m)
(ft) (g/tonne) (oz/ton)
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
Hole #30W1
654.8
657.9
3.10
10.17
135.04
3.940
724.8
728.5
3.70 12.14 18.04 0.526
Hole #30W2
567.5
568.8 1.3 4.27 1.409 0.041
647.4
648.5 1.1 3.61 4.591 0.134
726.2
732.0 5.8 19.02 7.474 0.218
Hole#30W2A
725.0
729.1
4.10
13.45
12.52
0.365
Hole#30W3
637.3
638.5
1.20
3.94
4.59
0.134
652.5
654.0
1.50
4.92
1.85
0.054
726.2
730.5 4.30 14.11 10.885 0.318
Hole#30W3A
645.0
646.5
1.50
4.92
82.39
2.404
655.5
657.0
1.50
4.92
36.21
1.056
725.0
728.5
4.50
14.76
6.845 0.200
735.0
736.5
1.50
4.92
1.147
0.033
738.0
739.5 1.5 4.92 2.356 0.069
Hole #31
177.0
180.0
3.00
9.84
3.536
0.103
220.0
223.0
3.00
9.84
4.438
0.129
321.3
321.8
0.50
1.64
1.193
0.035
735.0
738.0
3.00
9.84
0.968
0.028
746.5
747.0
0.50
1.64 1.108 0.032
751.0
754.0
3.00
9.64
1.533
0.045
Hole #32
354.0
354.7
0.70
2.30
5.491
0.160
795.0
797.0
2.00
6.56
3.291
0.096
Hole #33 278.0 280.0 2.00 6.56 2.120 0.062
339.8
341.1
1.30
4.27
1.447
0.042
418.6
420.2
1.60
5.25
1.319
0.038
495.0
496.0
1.00
3.28
6.258
0.183
Hole #34
549.0
550.0
1.00
3.28
1.326
0.039
567.3
574.5
7.20
23.62
0.935
0.027
Hole #35
471.0
474.6
3.60
11.81
1.376
0.040
600.0
603.5
3.50
11.48
10.064
0.294
321.3
321.8
0.50
1.64
1.193
0.035
735.0
738.0
3.00
9.84
0.968
0.028
746.5 747.0 0.50 1.64 1.108 0.032
751.0
754.0
3.00
9.64
1.533
0.045
Hole #36
No Significant Values
(i)Notes:
1. The 11.0 meter intersection of
9.215 g/tonne in Hole #10-30 includes a
high grade interval
between 730.0 and 734.1 grading 23.69 g/tonne over
4.1 meters.
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.
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 future.
Explor
invites investors to visit our booth #2122 at the Investor Exchange of the
PDAC 2011 located in the south building of the Metro Toronto Convention Center
from March 06 to March 09, 2011.
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.
To
view the plan of the Hollinger-McIntyre Model, please visit the following
link: http://media3.marketwire.com/docs/hollinger.pdf
Contact:
Christian Dupont
Explor Resources Inc.
President
888-997-4630 or 819-797-4630
819-797-6050 (FAX)
www.explorresources.com
Stratastar Marketing Group LLC
Investor Relations
Gary Lindsey
720-273-6224
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