ROUYN-NORANDA, CANADA--(Marketwired - July 10, 2013) - Explor Resources Inc. ("Explor or the "Corporation") (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H)(BERLIN:E1H) is pleased to announce the start of the East Bay Property exploration program. The analysis of previous exploration by Cambior has revealed several interesting targets. The exploration program will initially consist of a preliminary 1500 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 65 million oz of gold. The Corporation now owns 3,203.71 ha of land along this section of the PDFZ, as shown on the attached plan. 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, which has produced over 1.0 million oz of gold between 1933 and 1956. Clifton Star has recently announced (Press Release dated June 28, 2013) significant open pit and underground resource 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).
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 wrap around 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 the Explor Property."
Geological Context & Mineralization
The mineralization on the East Bay gold property is similar to the Beattie Island within Duparquet Lake and is hosted within the Destor Theolitic Unit of the Blake River Group. Mineralization is associated with interflow volcanic sediments between andesite flows and dioritic sills. The alteration consists of silicification, carbonization and considerable sulphide enrichment.
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 (E1H).
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. The TPW mineral resource (Press Release dated April 16, 2013) includes the following:
|Open Pit Mineral Resources:|
|Indicated:||74,000 oz (1,248,000 tonnes at 1.85 g/t Au)|
|Inferred:||186,000 oz (2,502,000 tonnes at 2.31 g/t Au)|
|Underground Mineral Resources:|
|Indicated:||224,000 oz (1,758,000 tonnes at 3.96 g/t Au)|
|Inferred:||594,000 oz (6,145,000 tonnes at 3.01 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.
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