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Explor
Resources Inc. (TSX VENTURE:EXS - News) is pleased to announce
the acquisition of 3 patented mining claims located in the Ogden Township in
Ontario. The claims added to the Timmins Porcupine West Project are located
in the famous Timmins-Porcupine mining camp within proximity to past and
existing producers.
The Timmins Porcupine West Project will increase in size to consist of
185 unpatented mining units and 3 patented mining claims located in the
Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total
3,200 hectares. The highway 101 bisects the property and provides access from
the city of Timmins located 13 km to the east.
Explor
Resources inc. will pay upon regulatory approval a total of $20,000 CDN and
issue 200,000 common shares over a 1 year period to acquire a 100% interest
in the additional 3 patented mining claims. The Optionors
have retained a 2% NSR in the property.
The acquired property has been previously trenched and a quartz vein
has been identified with alteration features and favourable
mineralization. Several airborne geophysical anomalies are located on the
property and have yet to be evaluated.
The most significant deposits in Timmins are spatially associated with
porphyry units that are in proximity to the Porcupine Destor
Fault. The deposits appear to be also associated with splay faults that trend
off and to the North of the Porcupine Destor fault
inside an interpreted splay fault corridor.
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.
Contact:
Christian Dupont
Explor Resources Inc.
President
888-977-4630 or 819-797-4630
819-797-6050 (FAX)
www.explorresources.com
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