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Explor Intersects Multiple Copper Zones Grades Up to 2.36% Cu Over 11.5 Meters on the Chester Copper Property $EXS.ca

Posted by AGORACOM-JC at 1:46 PM on Thursday, March 16th, 2017

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  • Multiple Copper Zones Grades Up to 2.36% Cu Over 11.5 Meters
  • Chief Executive Officer of Explor Resources Inc. commented: “We are extremely pleased and encouraged by these preliminary drill results. The presence of multiple copper mineralized zones in each of the holes drilled is very significant in terms of exploration. The increase in strike length of the known mineralization from 500 to 750 meters confirms the potential to significantly increase the resources on the property. The property continues to be open on strike to the west and Northwest.”

ROUYN-NORANDA, CANADA – (March 16, 2017) - Explor Resources Inc. (“Explor” or the “Corporation“) (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce further results from the 12 Diamond Drill Holes completed on the Chester Copper Property. The Chester Copper property is located in the Northumberland County, 70 km southwest of Bathurst, New Brunswick and 50 km west-northwest of Miramichi, New Brunswick, within the Bathurst Mining Camp. This area has an extensive history in base metal production from VMS deposits.

There has been very little exploration work in this area of the Bathurst Mining Camp (BMC) since the initial exploration more than 60 years ago. Of significance also is the fact that three (3) age date studies of the rock in the area since 2005 have indicated an age of 469+/- 0.3 ma. All of the main largest VMS deposits in the BMC (including BMS #12 and #6, the Caribou Deposit (currently being developed by Travalli) and the past producing Heath Steele Mines, are associated with this age date for the footwall felsic rocks. That new data in 2007 places Explor’s Chester deposit is in the same time frame as the Brunswick Mining No. 12 and No. 6 deposits located in the BMC.

New Brunswick is the home of the No 12 massive sulphide deposit (The Brunswick Deposit) which was in continuous production from 1964 to its closure in March of 2013 (to Feb 2013, 135,903,168 tonnes milled at 3.44 % Pb, 8.74 % Zn, 0.37 % Cu and 102 g/t Ag). The Brunswick deposits (No 6 and No 12) are situated in the Nepisiguit Falls Group of rocks in the Lower Tetagouche group of the BMC. There are 46 known VMS deposits in the BMC.

The property is located in the southern-most part of the Bathurst Mining Camp and consist of 174 Mineral Claim Units within a total of five (5) Mineral Claims (1571, 2428, 6003, 6005 and 7045) comprising approximately 3,828 hectares as shown on the attached map.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: “We are extremely pleased and encouraged by these preliminary drill results. The presence of multiple copper mineralized zones in each of the holes drilled is very significant in terms of exploration. The increase in strike length of the known mineralization from 500 to 750 meters confirms the potential to significantly increase the resources on the property. The property continues to be open on strike to the west and Northwest.”

A total of 4 diamond drill holes were drilled on claim 1571. The first three diamond drill holes that were drilled were fan holes from the same location. This successfully tested the extension of the copper stringer zone for a distance of 250 meters west of previous drilling. The fourth drill hole was located approximately 100 meters west (and 38 meters south) of the first three drill holes, confirming the continuity of the mineralization to the west and Northwest and adding 250 meters of strike length to the known deposit. It intersected the target horizon and favorable geology from 49 meters to 172 meters.

Further to the west the copper deposit goes down dip and onto claim 6003. At about 1,100 meters west of the first drill hole, drill hole 6003-16-012 was drilled at a vertical dip. It eventually went to a depth of 600 meters and intersected previously unknown mineralization near surface (18 meters) and also extending the deep main Chester Stringer zone an additional 650 meters westward than any previous reliable drilling (i.e. casing in place and core in government storage). It also confirms the existence of the alteration zone and the host stratigraphic horizon to a depth not previously known or expected. The chloritized favorable horizon extends from a depth of 472.5 meters to 561 meters with low grade copper mineralization documented from 519 meters to 543 meters.

In the north part of claim 6003, an untested soil geochemical anomaly was tested. Copper mineralization was discovered as pyrrhotite and chalcopyrite veinlets in felsic volcanic associated with the soil anomaly. Copper mineralization was also discovered in this area in 2014 and a soil survey on claim 7045 to the west have unexplained copper and lead anomalies which may be associated with previously mentioned soil anomaly and this horizon.

To the south on Claim 6005, two drill holes were put down to test a soil anomaly apparently associated with a historical drill hole, dating to about the 1956 to 1958 era, with a reported value of more than 2% copper. No indication of any mineralization was discovered in the two drill holes.

Results are shown below for Hole # 1571-16-004:

Summary of Results From Drill Hole 1571-16-004
Zones From
(m)
To
(m)
Length
(m)
Au
(ppb)
Ag
(ppm)
Cu
(%)
Zn
(ppm)
Pb
(ppm)
1 89.20 90.00 0.80 10 1 0.013 1189 370
Contains bedded pyrite (very narrow zone) (Anomalous in zinc and lead)
Main mineralized zone below 90 m, very chloritic
2 120.90 123.00 2.10 46 2.8 0.832 346 73
3 131.90 143.40 11.50 138 4.8 2.357 1205 107
includes 131.90 137.45 5.45 134 4.8 2.267 1428 101
and 137.35 143.40 6.05 142 4.8 2.439 100 113
or 135.80 143.40 7.60 173 6.1 3.058 1408 158
includes 139.70 143.40 3.70 211 7.1 3.885 1492 134
4 161.90 164.20 2.30 21 1.0 0.436 160 36
5 178.70 181.40 2.70 51 1.6 0.781 235 60
includes 178.70 179.30 0.60 114 4.4 3.160 457 167
6 201.50 202.40 0.90 28 2 1.150 168 20
7 232.90 234.60 1.70 146 1.4 0.64 109 29
8 267.00 268.00 1.00 2.5 1.4 0.028 12500 1572
9 270.00 271.00 1.00 2.5 0.1 0.035 2501 216

A total of 9 zones of Copper mineralization were intersected in the above referenced Hole # 1571-16-004Zinc mineralization of 1.25% was intersected over 1.0 meters.

Results are shown below for Hole # 1571-16-012:

Summary of Results From Drill Hole 1571-16-012
Zones From
(m)
To
(m)
Length
(m)
Au
(ppb)
Ag
(ppm)
Cu
(%)
Zn
(ppm)
Pb
(ppm)
1 12.80 13.10 0.30 58 1.4 0.120 64 44
2 16.10 18.30 2.20 11.4 1.35 0.098 32 22
3 18.30 32.20 13.90 3.1 0.62 0.028 118 20
4 519.00 528.90 9.90 7.8 0.9 0.375 77.5 24.6
includes 521.10 521.60 0.53 40 5.6 3.380 186 31
and 525.00 526.40 1.35 14 1.5 0.898 121 29
5 531.00 536.50 5.50 26.6 0.6 0.235 54.0 24.3
includes 534.70 535.10 0.40 186 5.4 2.950 235 57
N.B. “From” and “to” are vertical depth from surface

A total of 5 zones of copper mineralization were intersected in the above referenced Hole # 1571-16-012.

The Chester Property is known to contain both a copper deposit and a VMS deposit. The copper deposit has an Open Pit resource with Measured & Indicated resource of 1,400,000 tonnes grading 1.38% Cu, 0.06% Zn & 3.5 g/t Ag and an inferred resource of 2,089,000 tonnes grading 1.26% Cu (assayed for Cu only).

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 OTCQB (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

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. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows: 
Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au) 
Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au) 
Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows: 
Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au) 
Inferred: 393,000 oz (5,185,000 tonnes at 2.36 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.

A map is available at the following address: http://media3.marketwire.com/docs/1089056A_Fig1.pdf.  

Christian Dupont
President
888-997-4630 or 819-797-4630
819-797-1870
www.explorresources.com
info@explorresources.com

Explor Announces Kidd Township Diamond Drilling Program $EXS.ca

Posted by AGORACOM-JC at 11:22 AM on Wednesday, March 15th, 2017

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  • Commenced of a Diamond Drilling Program on the Kidd Township Property
  • Completed a geophysical program consisting of mag and max/min to better define the targets in December 2016 and has started a 3,000 meter diamond drill program

ROUYN-NORANDA, QUEBEC–(March 15, 2017) - Explor Resources Inc. (“Explor” or “the Corporation”) (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the commencement of a Diamond Drilling Program on the Kidd Township Property. The Corporation’s Kidd Township Group of Properties are located to the North, South, West and East of the Open Pit in Kidd Township, located approximately 20 km north of Timmins, Ontario. Explor’s Kidd Township’s Group of Properties have a land position that cover an area of approximately 2,805.20 hectares as shown on the attached Property Map. The most obvious topographical feature in the area is the Open Pit located in the central portion of Explor’s Kidd Township group of Properties. Explor has completed a geophysical program consisting of mag and max/min to better define the targets in December 2016 and has started a 3,000 meter diamond drill program. The diamond drill program is underway and results are pending.

The property is located in a Greenstone Belt composed mainly of sequences of Meta-Volcanic rocks cut by faults and deformation zones that lie in a NW-SE direction. There are many suites of Mafic Volcanic rocks as well. Excellent access to the property is provided by Hwy 655.

Exploration drilling completed by Explor to date has revealed a Major Fault Structure running to the west of the Open Pit in a NW-SE direction. A thorough review of all existing geophysical data appears to support these findings. Drilling by Falconbridge in 1998 to the southeast of the Open Pit (Hole # K26-01) returned 4.7m in which 4 of the 5 samples returned Zinc values from 4200 – 8900 ppm and Copper values that ranged from 700 – 2280 ppm. The Magnetic Anomaly associated with these results appears to continue onto Explor’s property holdings. A series of untested AEM (Airborne Electromagnetic) conductors detected on the Kidd Township Group of Properties to the North, South, East and West of the existing Open Pit clearly warrant further investigation.

Some of the EM (Electromagnetic) targets occur along magnetic boundaries suggestive of Rhyolite/Basalt contacts. The Mine in the Center of the Kidd Township Group of properties has produced more than 153,000,000 tonnes of Base Metal Ore (Cu-Zn-Pb-Ag) since it began production in 1966.

Explor believes in the “Cluster Effect of VMS (Volcanogenic Massive Sulfide) Deposits”. Well known examples of the cluster effect of VMS Deposits are the Bathurst Mining Camp where 47 deposits have been found to date, including the Brunswick No.12 and the Brunswick No.6 Mines where more than 130,000,000 tonnes of Base Metal Ore has been produced to date; and the Noranda Mining Camp where 18 deposits have been found to date, with 68,100,000 tons of Base Metal Production from the Horne Mine and Quemont Deposits alone. The presence of Mafic and Felsic rocks on the Kidd Township Group of Properties with anomalous zinc and copper supports the opinion that additional VMS Deposits exist within the Kidd Township Group of Properties as shown on the attached map located in the Timmins/Porcupine Mining Camp.

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 OTCQB (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

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. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:
Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au)
Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au)
Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:
Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au)
Inferred: 393,000 oz (5,185,000 tonnes at 2.36 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.

A map associated with this press release is available at the following address: http://media3.marketwire.com/docs/Explor_map.pdf

Explor Resources Inc.
Christian Dupont
President
819-797-1870
888-997-4630 or 819-797-4630
info@explorresources.com
www.explorresources.com

INTERVIEW – Explor Resources Discusses TPW Property with 609,000 oz Indicated 470,000 oz Inferred Gold Amongst Others $EXS.ca

Posted by AGORACOM-JC at 6:42 PM on Monday, March 13th, 2017

Explor Increases Ogden Property $EXS.ca

Posted by AGORACOM-JC at 8:52 AM on Tuesday, February 28th, 2017

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  • Acquisition of 6 mining claims (16 mineral claim units) situated in the Porcupine mining division, district of Cochrane, in the Ogden Township, Ontario
  • Claims are located in Ogden Township to the North and East of the Ogden Property. Highway 101 West is north of the property and provided excellent access to the city of Timmins
  • Claims were acquired because of encouraging results obtained in Explor’s past exploration on this property.

ROUYN-NORANDA, QUEBEC — (Feb. 28, 2017) - Explor Resources Inc. (“Explor” or “the Corporation”) (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the acquisition of 6 mining claims (16 mineral claim units) situated in the Porcupine mining division, district of Cochrane, in the Ogden Township, Ontario. These claims are located in Ogden Township to the North and East of the Ogden Property. Highway 101 West is north of the property and provided excellent access to the city of Timmins. The claims were acquired because of encouraging results obtained in Explor’s past exploration on this property.

Explor Resources Inc. will pay CDN $10,000 and issue 500,000 common shares to acquire a 100% interest in the additional Ogden claims. The optionors have retained a 2% NSR in the property. This acquisition is subject to the approval of the TSX Venture Exchange.

With this acquisition, the Ogden property now consists of 21 mining claims (115 mineral claim units) covering 1,844 hectares situated in the Porcupine mining division, district of Cochrane, in the Ogden Township, Ontario. The Ogden property has been previously explored by Hollinger Mines, Tex-Sol Exploration, Inmet Mining Corporation, Amax Mineral Exploration, Noranda Exploration and Knick Exploration. The majority of the holes drilled by previous operators were less than 100 meters in length. Historically on the Ogden Property, the only hole that hit significant mineralization was a diamond drill hole by Tex-Sol Exploration in 1965 which returned 6.0 g/t Au over 9.1 m at a shallow depth. On the TPW Gold Property significant mineralization was intersected below 300 meters of vertical depth requiring drill holes of 500 to 600 m in length. Explor has completed a drill program on the Ogden Property with the following encouraging results:

Hole #OG-16-02 intersected 2.06 g/t Au over 1.50m from 154.5 to 156.0 meters

Hole #OG-16-05 intersected 1.99 g/t Au over 1.80m from 438.0 to 439.8 meters.

The preliminary exploration program conducted by Explor consisted of six NQ holes for a total of 3,648 meters of diamond drilling. The holes averaged 600 meters in length. The property was found to contained favourable geology to host gold mineralization. The diamond drill program used geophysical targets identified by Explor’s ground geophysical surveys conducted by Explor and Knick Exploration. The program was successful in that all IP targets were intersected. The geological environment identified was similar to the Timmins Porcupine West Property. Rock type intersected included Quartz Feldspar Porphyry (QFP), Mafic Volcanics, and Sulfide zones containing fine grain pyrite mineralization.

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.

Chris Dupont P.Eng is the qualified person responsible for the information contained in this release.

Explor Resources invites investors to visit our booth at the following conference:

Booth #2122 at the Investor Exchange of the PDAC 2017 located in the south building of the Metro Toronto Convention Center from March 5 to March 8, 2017.

The management team at Explor Resources Inc. looks forward to having you join us.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQB (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

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. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:
Indicated:213,000 oz (4,283,000 tonnes at 1.55 g/t Au)
Inferred:77,000 oz (1,140,000 tonnes at 2.09 g/t Au)
Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:
Indicated:396,000 oz (4,420,000 tonnes at 2.79 g/t Au)
Inferred:393,000 oz (5,185,000 tonnes at 2.36 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.

Explor Resources Inc.
Christian Dupont, President
888-997-4630 or 819-797-4630
819-797-1870
info@explorresources.com
www.explorresources.com

CLIENT FEATURE: Explor Resources (EXS: TSX-V) 609K oz Indicated / 470K oz Inferred Gold $EXS.ca

Posted by AGORACOM-JC at 12:43 PM on Monday, February 27th, 2017

Why Explor Resources?

  • Flagship Property Offers The Following:
  • NI 43-101 Resource – 609,000 oz Indicated / 470,000 Inferred
  • Teck Resources To Spend $12 MILLION To Earn 70%
  • Property Is 13 KM From Downtown Timmins
  • 2nd Project 43-101 Open Pit Resource
  • 1.4 MILLION T Indicated @ 1.38% Copper
  • 2.09 MILLION T Inferred @ 1.26% Copper

ONTARIO AND NEW BRUNSWICK PROPERTIES CURRENTLY UNDER EXPLORATION

Timmins Porcupine West (TPW) (4300 ha)

  • NI 43-101 Resource: 609,000 oz Indicated
    470,000 oz Inferred Gold
  • 13 km from downtown Timmins
  • Property is 2.5 km, NE of LSG West Timmins Mine
  • Model: Hollinger McIntyre Gold System: 30,000,000 oz. Au
  • Discovery Hole 10-30 : 9.22g/tonne over 11.0 meters
  • Optioned to Teck Resources
  • Teck to spend $12,000,000 to earn 70% interest

Chester Copper & VMS Project (3500ha)

  • Recent intersection of 2.187% Copper Over 9.66 Meters
  • Mineral Target: Cu, Pb, Zn, Ag, & Au
  • 70 km SW of Bathurst NB
  • Structural Model Complete
  • 300 m wide x 2000m long mineralized Corridor identified
  • Ramp to ore zone (480 meter long (3m x 4m)
  • Optioned to Brunswick Resources (BRU)
  • Brunswick to spend $500,000 over 3 years
  • Explore to receive $40,000 and 5,000,000 shares of BRU
  • Open pit resource – NI 43-101 Resource: 1,400,000 Indicated t @ 1.38% Cu
    2,089,000 Inferred t @ 1.26 % Cu
  • Recently completed diamond drill Holes for a total of 2,027 meters


Kidd Creek Project (2466 ha)

  • Mineral Target: Cu-Zn Ore
  • Located 1.0 km west of Kidd Creek Mine
  • Kidd Mine yielded 130M tonnes of Cu-Zn Ore since 1960
  • Numerous Geophysical max/min and IP Targets
  • So encouraged by the initial results of the 3000 meter program, decided to more than double the diamond drilling program planned to 7275.7 meters

QUEBEC PROPERTIES CURRENTLY UNDER EXPLORATION

East Bay (3203 ha):

  • Mineral Target: Gold
  • Lies on Porcupine Destor Fault Zone, on strike with Beattie & Donchester mine
  • Historical channel samples by Lacana Mining in 1982 including: 0.81 oz/ton over 5ft; 0.16 oz/ton over 6 ft; 0.10 oz/ton over 10 ft
  • Wrap around Clifton Star

Nelligan (1198 ha):

  • Mineral Target: Nickel
  • Located in Val d’Or mining district of Quebec
  • Historical grab samples of 10% Ni and 0.6% Cu obtained by INCO
  • Discovered anomalous Nickel, Copper Zones

Launay (2250 ha):

  • Mineral Target: Nickel
  • Mineralized zones contained in mafic volcanic rocks
  • Contiguous to Royal Nickel’s Dumont property (NW end)

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Explor Announces Annual and Special Meeting of Shareholders $EXS.ca

Posted by AGORACOM-JC at 2:58 PM on Tuesday, January 17th, 2017

Exs logo

  • Annual and Special Meeting of Shareholders held on January 17, 2017, the following directors were elected: Christian Dupont of New Brunswick, Geoffrey Carter of Ontario, Mario Colantonio of Ontario and Gerhard Merkel of Germany

ROUYN-NORANDA, CANADA–(Jan. 17, 2017) - Explor Resources Inc. (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1) (BERLIN:E1H1) (« Explor » or the « Corporation ») is pleased to announce that at the Annual and Special Meeting of Shareholders held on January 17, 2017, the following directors were elected: Christian Dupont of New Brunswick, Geoffrey Carter of Ontario, Mario Colantonio of Ontario and Gerhard Merkel of Germany.

The accounting firm Dallaire & Lapointe Inc. was re-appointed as independent auditors. The shareholders have also approved the continuation of the Corporation’s Stock Option Plan and the amendment to the Shareholder Rights Plan.

Subsequently to the Annual and Special Meeting, the Board of Directors of the Corporation held a meeting and appointed the following officers: Christian Dupont, as President and Chief Executive Officer, Rodrigue Tremblay, as Chief Financial Officer and Julie Godard, as Corporate Secretary. Finally, the following directors have been appointed to the Audit Committee: Christian Dupont, Mario Colantonio and Geoffrey Carter. Two members of this committee are considered independent directors.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQB Exchange (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

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 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. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:

  • Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au)
  • Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au)

Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:

  • Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au)
  • Inferred: 393,000 oz (5,185,000 tonnes at 2.36 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.

Christian Dupont, President
888-997-4630 or 819-797-4630
Fax: 819-797-1870
www.explorresources.com
info@explorresources.com

Explor Announces Multiple Copper Zones Grades Up to 3.65% Cu Over 5.35 Meters on the Chester Copper Property $EXS.ca

Posted by AGORACOM-JC at 5:02 PM on Tuesday, January 10th, 2017

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  • 12 Diamond Drill Holes completed on the Chester Copper Property
  • 3.65% Cu Over 5.35 Meters
  • increase in strike length of the known mineralization from 500 to 750 meters

ROUYN-NORANDA, QUEBEC–(Jan. 10, 2017) - Explor Resources Inc. (“Explor” or the “Corporation“) (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce further results from the 12 Diamond Drill Holes completed on the Chester Copper Property. The Chester Copper property is located in the Northumberland County, 70 km southwest of Bathurst, New Brunswick and 50 km west-northwest of Miramichi, New Brunswick, within the Bathurst Mining Camp. This area has an extensive history in base metal production from VMS deposits.

There has been very little exploration work in this area of the Bathurst Mining Camp (BMC) since the initial exploration more than 60 years ago. Of significance also is the fact that three (3) age date studies of the rock in the area since 2005 have indicated an age of 469+/- 0.3 ma. All of the main largest VMS deposits in the BMC (including BMS #12 and #6, the Caribou Deposit (currently being developed by Travalli) and the past producing Heath Steele Mines, are associated with this age date for the footwall felsic rocks. That new data in 2007 places Explor’s Chester deposit is in the same time frame as the Brunswick Mining No. 12 and No. 6 deposits located in the BMC.

New Brunswick is the home of the No 12 massive sulphide deposit (The Brunswick Deposit) which was in continuous production from 1964 to its closure in March of 2013 (to Feb 2013, 135,903,168 tonnes milled at 3.44 % Pb, 8.74 % Zn, 0.37 % Cu and 102 g/t Ag). The Brunswick deposits (No 6 and No 12) are situated in the Nepisiguit Falls Group of rocks in the Lower Tetagouche group of the BMC. There are 46 known VMS deposits in the BMC.

The property is located in the southern-most part of the Bathurst Mining Camp and consist of 174 Mineral Claim Units within a total of five (5) Mineral Claims (1571, 2428, 6003, 6005 and 7045) comprising approximately 3,828 hectares as shown on the attached map.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: “We are extremely pleased and encouraged by these preliminary drill results. The presence of multiple copper mineralized zones in each of the holes drilled is very significant in terms of exploration. The increase in strike length of the known mineralization from 500 to 750 meters confirms the potential to significantly increase the resources on the property. The property continues to be open on strike to the west and Northwest.”

A total of 4 diamond drill holes were drilled on claim 1571. The first three diamond drill holes that were drilled were fan holes from the same location. This successfully tested the extension of the copper stringer zone for a distance of 250 meters west of previous drilling. The fourth drill hole was located approximately 100 meters west (and 38 meters south) of the first three drill holes, confirming the continuity of the mineralization to the west and Northwest and adding 250 meters of strike length to the known deposit. It intersected the target horizon and favorable geology from 49 meters to 172 meters.

Further to the west the copper deposit goes down dip and onto claim 6003. At about 1,100 meters west of the first drill hole, drill hole 6003-16-012 was drilled at a vertical dip. It eventually went to a depth of 600 meters and intersected previously unknown mineralization near surface (18 meters) and also extending the deep main Chester Stringer zone an additional 650 meters westward than any previous reliable drilling (i.e. casing in place and core in government storage). It also confirms the existence of the alteration zone and the host stratigraphic horizon to a depth not previously known or expected. The chloritized favorable horizon extends from a depth of 472.5 meters to 561 meters with low grade copper mineralization documented from 519 meters to 543 meters.

In the north part of claim 6003, an untested soil geochemical anomaly was tested. Copper mineralization was discovered as pyrrhotite and chalcopyrite veinlets in felsic volcanic associated with the soil anomaly. Copper mineralization was also discovered in this area in 2014 and a soil survey on claim 7045 to the west have unexplained copper and lead anomalies which may be associated with previously mentioned soil anomaly and this horizon.

To the south on Claim 6005, two drill holes were put down to test a soil anomaly apparently associated with a historical drill hole, dating to about the 1956 to 1958 era, with a reported value of more than 2% copper. No indication of any mineralization was discovered in the two drill holes.

Preliminary results are shown below for Hole # 1571-16-002:

Summary of Results From Drill Hole 1571-16-002
Zones From
(m)
To
(m)
Length
(m)
Au
(ppb)
Ag
(ppm)
Cu
(%)
Zn
(ppm)
Pb
(ppm)
1 49.40 49.73 0.33 41 2.70 1.820 269 67
2 51.45 52.30 0.85 49 2.40 1.240 284 80
3 77.85 84.30 6.45 65 3.35 1.53 438 57
includes 77.85 80.70 2.85 47 2.78 1.18 350 61
and 80.70 81.93 1.23 28 1.60 0.18 401 48
and 81.93 84.30 2.37 105 4.94 2.66 562 56
4 112.90 113.30 0.40 105 9.6 7.111 439 49
5 121.00 127.00 6.00 82 3.92 3.20 381 43
includes 121.00 125.10 4.10 114 4.99 4.26 469 43
or 124.10 125.10 1.00 289 10.10 10.23 1014 76
and 126.05 127.00 0.95 26 2.60 1.70 276 62
6 141.80 142.90 1.10 114 3.55 2.889 317 40
142.90 151.10 8.20 3,6 0.16 0.065 59 21
7 151.10 151.85 0.75 34 2.8 2.130 252 26
FW Zone 171.5 171.85 0.35 50 3.2 1.580 214 42

A total of 8 zones of copper mineralization were intersected in the above referenced Hole # 1571-16-002.

Preliminary results are shown below for Hole # 1571-16-003:

Summary of Results From Drill Hole 1571-16-003
Zones From
(m)
To
(m)
Length
(m)
Au
(ppb)
Ag
(ppm)
Cu
(%)
Zn
(ppm)
Pb
(ppm)
1 58.10 58.57 0.47 28 4 1.760 586 52
2 64.00 70.80 6.80 42 4.3 1.45 565 106
includes 64.00 67.10 3.10 39 6.0 2.09 660 186
or 65,50 67.10 1.60 75 11.5 4.05 1279 360
and 69,90 70.80 0.90 139 7.0 3.05 1033 58
3 77.70 78.60 0.90 76 2.4 1.220 328 44
4 112.65 112.85 0.20 60 6.7 4.330 592 42
5 115.25 120,60 5.35 64 4.9 3.65 445 49
includes 115.25 117.40 2.10 47 4.6 3.25 372 39
and 117.40 120.,60 3.20 76 5.2 3.97 501 56
FW Zone 157.30 158.85 1.55 343.10 15.00 13.20 995.00 91.13

A total of 6 zones of copper mineralization were intersected in the above referenced Hole # 1571-16-003. Samples have been sent to the lab and assays are pending.

The Chester Property is known to contain both a copper deposit and a VMS deposit. The copper deposit has an Open Pit resource with Measured & Indicated resource of 1,400,000 tonnes grading 1.38% Cu, 0.06% Zn & 3.5 g/t Ag and an inferred resource of 2,089,000 tonnes grading 1.26% Cu (assayed for Cu only).

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 OTCQB (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

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. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:

Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au)
Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au)

Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:

Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au)
Inferred: 393,000 oz (5,185,000 tonnes at 2.36 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.

To view the image associated with this press release, please visit the following link: http://media3.marketwire.com/docs/1082322a.pdf

Christian Dupont, President
888-997-4630 or 819-797-4630
819-797-1870
www.explorresources.com
info@explorresources.com

Explor Announces Increase of Ogden Property With Acquisition of 2 Mining Claims $EXS.ca

Posted by AGORACOM-JC at 8:52 AM on Wednesday, January 4th, 2017

Exs logo

  • Announced the acquisition of 2 mining claims (3 mineral claim units) situated in the Porcupine mining division, district of Cochrane
  • Claims are located in Ogden Township contiguous and to the east of the Ogden Property

ROUYN-NORANDA, QUEBEC–(Jan. 4, 2017) - Explor Resources Inc. (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) (“Explor” or “the Corporation”) is pleased to announce the acquisition of 2 mining claims (3 mineral claim units) situated in the Porcupine mining division, district of Cochrane, in the Ogden Township, Ontario. These claims are located in Ogden Township contiguous and to the east of the Ogden Property. Highway 101 West is north of the property and provided excellent access to the city of Timmins. The claims were acquired because of encouraging results obtained in Explor’s past exploration on this property.

Explor Resources Inc. will pay CDN $1,000 and issue 100,000 common shares to acquire a 100% interest in the additional Ogden claim. The optionors have retained a 2% NSR in the property. This acquisition is subject to the approval of the TSX Venture Exchange.

With this acquisition, the Ogden property now consists of 15 mining claims (99 mineral claim units) covering 1,588 hectares situated in the Porcupine mining division, district of Cochrane, in the Ogden and Price Townships, Ontario. The Ogden property has been previously explored by Hollinger Mines, Tex-Sol Exploration, Inmet Mining Corporation, Amax Mineral Exploration, Noranda Exploration and Knick Exploration. The majority of the holes drilled by previous operators were less than 100 meters in length. Historically on the Ogden Property, the only hole that hit significant mineralization was a diamond drill hole by Tex-Sol Exploration in 1965 which returned 6.0 g/t Au over 9.1 m at a shallow depth. On the TPW Gold Property significant mineralization was intersected below 300 meters of vertical depth requiring drill holes of 500 to 600 m in length. Explor has completed a drill program on the Ogden Property with the following encouraging results:

Hole #OG-16-02 intersected 2.06 g/t Au over 1.50m from 154.5 to 156.0 meters

Hole #OG-16-05 intersected 1.99 g/t Au over 1.80m from 438.0 to 439.8 meters.

The preliminary exploration program conducted by Explor consisted of six NQ holes for a total of 3,648 meters of diamond drilling. The holes averaged 600 meters in length. The property was found to contained favourable geology to host gold mineralization. The diamond drill program used geophysical targets identified by Explor’s ground geophysical surveys conducted by Explor and Knick Exploration. The program was successful in that all IP targets were intersected. The geological environment identified was similar to the Timmins Porcupine West Property. Rock type intersected included Quartz Feldspar Porphyry (QFP), Mafic Volcanics, and Sulfide zones containing fine grain pyrite mineralization.

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.

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 OTCQB (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

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. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:
Indicated:          213,000 oz (4,283,000 tonnes at 1.55 g/t Au) 
Inferred:             77,000 oz (1,140,000 tonnes at 2.09 g/t Au)
Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:
Indicated:          396,000 oz (4,420,000 tonnes at 2.79 g/t Au)
Inferred:            393,000 oz (5,185,000 tonnes at 2.36 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.

Explor Resources Inc.
Christian Dupont
President
819-797-1870
888-997-4630 or 819-797-4630
info@explorresources.com
www.explorresources.com

Explor Closes a First Tranche of a Maximum of $1 Million Private Placement in Flow-Through Shares

Posted by AGORACOM-JC at 4:16 PM on Friday, December 23rd, 2016

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  • Closing of a first tranche of a non-brokered private placement of a maximum of 11,764,705 flow-through common shares at a price of $0.085 each, for total gross proceeds of up to CDN $1,000,000 
  • First tranche of the Private Placement closed today consists in the sale of 7,058,824 flow-through shares for an aggregate subscription of $600,000.

ROUYN-NORANDA, QUEBEC–(Dec. 23, 2016) - Explor Resources Inc. (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) (“Explor” or the Corporation) announces the closing of a first tranche of a non-brokered private placement of a maximum of 11,764,705 flow-through common shares at a price of $0.085 each, for total gross proceeds of up to CDN $1,000,000 (the “Private Placement“). The first tranche of the Private Placement closed today consists in the sale of 7,058,824 flow-through shares for an aggregate subscription of $600,000.

The net proceeds from the Private Placement will be incurred by the Corporation in exploration expenditures on mining properties located in the province of Québec.

In connection with the Private Placement, the Corporation will pay to an arm’s length finder, finder’s fees representing a cash amount equal to 8% of the subscribed amount through the finder, and non-transferrable finder’s warrants entitling to purchase such number of common shares of the Corporation equal to 8% of the aggregate number of shares subscribed through the finder. These finder’s warrants will be exercisable at a price of $0.085 per common share, up to 24 months from the closing date.

The securities issued pursuant to the first closing of the Private Placement are subject to a hold period of four months and a day ending April 24, 2017. The Private Placement is subject to the final approval of the TSX Venture Exchange.

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 (E1H1).

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 46company 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. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows: 
 Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au)
 Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au)
Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:
 Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au)
 Inferred: 393,000 oz (5,185,000 tonnes at 2.36 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.

Explor Resources Inc.
Christian Dupont
President
819-797-1870
888-997-4630 or 819-797-4630
info@explorresources.com
www.explorresources.com

Explor Closes a Second Tranche of a Private Placement in Common and Flow-Through Shares

Posted by AGORACOM-JC at 4:40 AM on Monday, December 12th, 2016

Exs logo

  • Announced that it has closed a second tranche of a non-brokered private placement of a maximum of 11,764,705 common shares and/or flow-through shares at a price of $0.085 each
  • Total gross proceeds of up to CDN $1,000,000

ROUYN-NORANDA, QUEBEC–(Dec. 12, 2016) -Explor Resources Inc. (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) (“Explor” or the Corporationis pleased to announce that it has closed a second tranche of a non-brokered private placement of a maximum of 11,764,705 common shares and/or flow-through shares at a price of $0.085 each, for total gross proceeds of up to CDN $1,000,000. Each common share is accompanied of one-half of a share purchase warrant, one whole warrant and $0.15 being required for the acquisition of one common share of the Corporation at the latest 24 months from each closing (the “Private Placement“).

The second tranche of the Private Placement closed today consists in the sale of 1,435,294 common shares, of 1,682,353 flow-through shares and the issuance of 717,647 warrants. This represents an aggregate subscription of $265,000, out of which $25,500 will have to be incurred by the Corporation in exploration expenditures on mining properties located in the province of Québec and $117,500 will be incurred on mining properties located in the province of Ontario. There are no finder’s fees payable for the securities issued upon this second closing.

The securities issued pursuant to the second closing of the Private Placement are subject to a hold period of four months and a day ending April 13, 2017.

The Private Placement is subject to the final approval of the TSX Venture Exchange.

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 (E1H1).

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. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:

Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows: 
Indicated: 213,000 oz (4,283,000 tonnes at 1.55 g/t Au) 
Inferred: 77,000 oz (1,140,000 tonnes at 2.09 g/t Au) 
Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows: 
Indicated: 396,000 oz (4,420,000 tonnes at 2.79 g/t Au) 
Inferred: 393,000 oz (5,185,000 tonnes at 2.36 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.

Explor Resources Inc.
Christian Dupont
President
819-797-1870
888-997-4630 or 819-797-4630
info@explorresources.com
www.explorresources.com