Explor to Begin 30,000 Meter Diamond Drill Program on Timmins Porcupine West Property
ROUYN-NORANDA, CANADA -- (Marketwire) -- 03/27/12 -- Explor Resources Inc. (TSX VENTURE: EXS)(PINKSHEETS: EXSFF)(FRANKFURT: E1H)(BERLIN: E1H) is pleased to announce the beginning of a 30,000 meter drilling program on the Timmins Porcupine West Property. The recently completed diamond drilling programs have successfully confirmed the model and the gold bearing mineralized structure for more than 2000 meters of strike length at a vertical depth from 600 to 900 meters. It is currently open on strike and at depth. The first four phases of drilling (95,000 meters) were concentrated on the "A" Zone gold mineralization located on the south limb of the geo-syncline. The "A" Zone mineralization is one of five (5) mineralized zones identified on the property.
This 5th phase of diamond drilling will be designed to continue to expand the known mineralization along the high grade intersections that were announced in the press releases dated (February 17, 2011, April 19, 2011, May 11, 2011, June 23, 2011 and January 31, 2012, February 23, 2012). The results from this new phase of drilling will be integrated into the model and drill hole locations will be determined to maximize the geological information that will be imputed into the 3-D Gemcom model. The "A" Zone identified through modelling strikes east northeast and dips to the north at 70 to 80 degrees. The drilling has confirmed the association of gold mineralization with Quartz feldspar (QFP) and syenite porphyry, found at the Lakeshore West Timmins Properties. The 3-D geological model may be viewed on our website: www.explorresources.com.
Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "With this 5th phase of diamond drilling, we expect to continue to report excellent drill results. We expect the continuity of the mineralization from hole to hole as well as the grade encountered to date to continue as we expand the known resource. We expect, as we go to depth, the grades encountered to be significant in terms of establishing a potentially large mineable gold resource."
Explor is focused on developing a mineable resource based on the drill results that have been obtained to date. The NI 43-101 technical report has been completed by MRB Associates of Val-d'Or, Quebec and P & E Mining Consultants of Brampton, Ontario (Press Release dated December 05, 2011).
The Timmins Porcupine West Gold Property consists of 185 unpatented mining units and 3 patented claims located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 3,200 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 is approximately 350 meters long and 45 meters wide and is open below 350 meters of vertical depth.
The Diamond Drilling to date shows the emergence of two types of structural and lithological features typical of known world class gold camps. Its porphyry-hosted gold mineralization resembles that of the Porcupine Camp's Hollinger and McIntyre Gold Mines. We also see the emergence of economically important sediment-hosted gold which is most like the Ashanti Gold Belt in Ghana, West Africa. Because of its unique overall characteristics the West Timmins gold camp can be considered a distinct gold camp with two primary gold target types:
1. Hollinger/McIntyre type porphyry related gold deposits. The best examples are found on Explor's Timmins Porcupine West Property.
2. Sediment-hosted pyrite/gold deposits. Examples are Lakeshore Gold's Timmins Mine (former Holmer Mine) and Lakeshore's Thorne Property.
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 technical information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the USA Pink Sheet (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H).
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 was continued under the laws of Alberta in 1986 and has had its main office in Quebec since 2006.
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 place 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.
Contacts:
Christian Dupont, President
800-388-8668 or 819-797-4630
819-797-6050 (FAX)
www.explorresources.com
Investor Relations:
Gary Lindsey
Stratastar Marketing Group LLC
720-273-6224