FORUM: Explor Resources Inc. - Turning Point?
30.05.2017 | ABN Newswire
Rouyn-Norand - Timmins, Timmins, Timmins. Chris Dupont & his team have completed preparations for the annual Canadian Mining Exposition being held May 31st to June 1st, in Timmins, Ontario, Canada. This gathering of Mining related companies has become a very important event, and from Explor Resources perspective, second only marginally, to the PDAC, held in Toronto.To visit, please go to:
http://canadianminingexpo.com
I know Dupont is really looking forward to meeting with the growing number of Explor investors in that region. Its also been his custom to meet privately with major Explor investors, & prospects, while in the city. He will undoubtedly be visiting the company's gold resource at the Timmins Porcupine West property, to visually inspect the core from the completed extension of Hole #109 to a depth of 900meters (2,953ft). I'm hearing a new drilling 'step out' is now underway some 50-60 meters north of existing Hole #124, intended to fill a gap in the resource to qualify for an upgrade to the existing NI 43-101 Resource Report.
This Drilling Program is searching for the gold rich 'Shear Zones', in the immediate vicinity of previously drilled holes to 'tighten up' the known gold Deposit. I suspect the 3,000meter program will yield some promising additional gold gradings, likely to catch the attention of Goldcorp, Tahoe, Kirkland, and Osisko, all operating nearby. From my point of view, I see this as one of the most important developments in the past three years, and certainly may provide the impetus needed to move the stock forward. I'm hopeful some of the 'new' core will be on display at the Timmins show, and would emphasize the importance to all regional investors to make an effort to get there.
In a private message, I was asked if the gold in the new core is 'visible'. Having seen core samples from previous gold rich drill holes from the TPW, tiny flecks of gold are actually attached to tiny flecks of 'pyrite', better known as 'fool's gold. Visibly then, the intensity of the pyrite, dictates the quality of the gold value being observed. This occurs the most in the 'shear zones' frequently encountered during previous drilling, with gold gradings increasing at depth. Let's recall that the entire known deposit is still 'OPEN AT DEPTH'. In other words, the true depth of the deposit is still an unknown, yet to be established.
Further, the deposit sits on the largest gold rich porphyry EVER found in the PDFZ (Porcupine Destor Fault Zone). It's 7-10 times larger than the one the Hollinger Mine sits on, within the PDFZ. The main Hollinger Mine operated from 1910 until 1968. During that period 65,778,234 tons of gold ore was milled, producing 19,327,691 ounces of gold. My immediate thought is that we have barely scratched the surface on the south side of this massive porphyry, and done virtually no exploration on the north side. The true potential of the gold Deposit is staggering, and, in turn, a primary takeover, or joint venture target, by the likes of Goldcorp, who will need that kind of deposit to support their $2Billion, 50,000 tonne a day gold mill development.
The immediate future of the Timmins Porcupine gold Deposit looks very exciting. That, in turn, makes investment in EXS/EXSFF/E1H1 very exciting.
About Explor Resources Inc.:
Explor Resources Inc. (CVE:EXS) (OTCMKTS:EXSFF) (FRA:E1H1) 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 Corporation was continued under the laws of Alberta in 1986 and has had its main office in Quebec since 2006.
Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. Teck Resources Ltd. (NYSE:TECK) is currently conducting an exploration program as part of an earn-in on the TPW property.