Why American Creek Resources?
ROUYN-NORANDA, QUEBEC–(Aug. 18, 2017) – Explor Resources Inc. (“Explor” or the “Corporation”) (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the results of 8 drill holes being the next series of holes on the diamond drilling program. This program consisted of the extension of 5 previously drilled holes and the completion of 3 new Diamond Drill Holes. Holes #TPW-17-101EX, #TPW-17-102EX, #17-103EX, #TPW-17-104EX and #TPW-17-109 were extended to test the theory that Shear Zone #5 extended across the property. New Holes #TPW-17-124, #TPW-17-125 and #TPW-17-127 were drilled and are reported in this press release.
The attached DDH and Open Pit Plan view show the location of the three potential Open Pit areas that are located over an 1800 meter strike length and 250 meters of depth. The recently completed Diamond Drilling Program was concentrated in the eastern end in proximity to and in Area “B” in order to increase the near surface resource and connect the eastern portion of the potential open pit areas.
Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: “We continue to be extremely pleased and encouraged by these excellent drill results. The fact that Explor continued to intersect near surface gold mineralization in area “B” continue to confirm existence of a near surface open pit gold resource that extends over a strike length of 1800 meters.”
It is important to note that the strike length of the gold mineralization is greater than 2000 meters at depth. The continuity of mineralization continues to be confirmed, and the structure remains open on strike and at depth. Explor has intersected gold mineralization in 121 out of 126 holes drilled to date and 64 out of 65 wedges. The Diamond drill Program recently completed was designed to test the continuity of the near surface gold mineralization as it relates to a potential open pit and to test the interpretation that Shear Zone #5 extends from the west deep high grade zone to the lower grade near surface gold bearing zone.
A total of 3163.4 meters were drilled to expand and update the open pit potential of the TPW property of Explor Resources by intersecting North-east-South-west trending Shear Zone #5 that was originally discovered in Hole #TPW-13-101 completed in the 2013 drill program.
The drill program was successful in intersecting Shear Zone #5 in four (4) holes with 14 gold values as well as intersecting an additional 14 gold values from 3 holes drilled in previously untested areas of the mineralized strike length. The addition of 28 gold values ranging from 1.06 to 7.3 g/t Au over 1.5 meters within the proposed open pit area clearly shows the extent and potential of this zone.
In summary, holes #TPW-17-101EX, #TPW-17-102-EX, #TPW-17-103EX and #TPW-17-104EX intercepted Shear Zone #5 with 14 gold values ranging from 1.06 to 7.3 g/t gold over 1.5 meters. As well, new fill in holes #TPW-17-124, #TPW-17-125 and #TPW-17-127 in Area “B” intersected 14 gold values from 1.1 to 5.1 g/t Au over 1.5 meters, mostly from east-west trending Shear Zones #1 to #4.
More importantly, Holes TPW-17-101EX, TPW-17-102EX and TPW-17-104EX intercepted gold values from a previously undetected east-west trending shear which has now been interpreted as Shear Zone # 6.
The spring 2017 drill program to increase the potential of the proposed open pit on the TPW property of Explor Resources was successful as it:
The results are as follows:
| Hole # | From | To | Interval | Gold | |||
| (m) | (m) | (m) | (ft) | (g/tonne) | (oz/ton) | ||
| Hole #101EX | 501.0 | 502.5 | 1.50 | 4.92 | 7.370 | 0.261 | |
| 601.5 | 606.0 | 4.50 | 14.76 | 1.143 | 0.041 | ||
| Hole #102EX | 470.0 | 471.0 | 1.00 | 3.28 | 1.451 | 0.051 | |
| 514.4 | 516.0 | 1.50 | 4.92 | 1.510 | 0.054 | ||
| 537.0 | 541.5 | 4.50 | 14.76 | 1.873 | 0.066 | ||
| 555.0 | 556.5 | 1.50 | 4.92 | 4.830 | 0.171 | ||
| Hole #103EX | 553.0 | 556.5 | 4.50 | 14.76 | 1.875 | 0.066 | |
| 559.5 | 561.0 | 1.50 | 4.92 | 2.500 | 0.089 | ||
| Hole #104EX | 568.5 | 570.0 | 1.50 | 4.92 | 1.820 | 0.065 | |
| 595.5 | 597.0 | 1.50 | 4.92 | 2.060 | 0.073 | ||
| Hole #109EX | Nothing of significant value | ||||||
| Hole #124 | 97.5 | 99.0 | 1.50 | 4.92 | 4.940 | 0.175 | |
| 154.5 | 156.0 | 1.50 | 4.92 | 1.294 | 0.046 | ||
| 220.5 | 222.0 | 1.50 | 4.92 | 1.096 | 0.039 | ||
| 406.5 | 408.0 | 1.50 | 4.92 | 2.670 | 0.095 | ||
| 436.5 | 438.0 | 1.50 | 4.92 | 5.040 | 0.179 | ||
| 459.9 | 460.9 | 1.50 | 4.92 | 3.260 | 0.116 | ||
| Hole #125 | 383.5 | 384.5 | 1.00 | 3.28 | 5.110 | 0.181 | |
| 409.5 | 411.0 | 1.50 | 4.92 | 1.300 | 0.046 | ||
| Hole #127 | 199.5 | 201.0 | 1.50 | 4.92 | 2.060 | 0.073 | |
| 205.5 | 210.0 | 4.50 | 14.76 | 2.393 | 0.085 | ||
| 217.0 | 218.0 | 1.50 | 4.92 | 1.076 | 0.030 | ||
| 231.0 | 232.5 | 1.50 | 4.92 | 1.200 | 0.035 | ||
| 241.5 | 244.5 | 3.00 | 9.84 | 1.885 | 0.067 | ||
| 246.0 | 247.5 | 1.50 | 4.92 | 1.100 | 0.039 | ||
Assays are conducted on NQ sized half core sections. The diamond drill core is logged and sampled following general industry practices whereby logged and sample marked core is sawn in half, with one-half bagged and tagged for shipment to the assay laboratory and the remaining half of the sawn core returned to the core box for storage and future reference. Blanks and assay standards are inserted at regular intervals in each sample batch. Assays are conducted using a standard fire assay technique on a 30 gram sample with a gravimetric finish by Laboratoire Expert Inc., of Rouyn-Noranda, Quebec. Routine duplicates are completed by Laboratoire Expert inc. and Pulps and rejects are returned and stored in secure containers. Intersections are reported using drilled widths unless specified otherwise, with assay values as simple averages of duplicates and gravimetric results.
The mineralization on the south limb strikes Northeast -Southwest and dips to the north at 70 to 80 degrees. The drilling confirms the association of gold mineralization with Quartz feldspar (QFP) and syenite porphyry, found on both the Lakeshore and West Timmins Properties currently owned by Tahoe. The larger zones of mineralization display a strong spatial relationship with proximity to syenite intrusive rocks and high Fe-tholeitic volcanic rocks. The 3D Geological Model may be viewed on our website: www.explorresources.com.
Explor is focused on developing a mineable resource based on the drill results that have been obtained to date. A NI 43-101 technical report has been completed by P & E Mining Consultants of Brampton, Ontario (Press Release dated August 27, 2013).
The results of Explor’s drilling have been incorporated into the Timmins Porcupine West Exploration Video which is available for viewing on the website. The Timmins Porcupine West Project has as a Target Model “The Hollinger-McIntyre-Coniaurum System.” To date, Explor’s drill program has confirmed the idealized Hollinger-McIntyre-Coniaurum (HMC) isometric model. The HMC system has produced a total of over 30 million oz of gold and is spatially associated with the Pearl Lake Porphyry.
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. 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 was approximately 350 meters long and 45 meters wide and is open below 350 meters of vertical depth. The drill program on the Timmins Porcupine West Property is on- going.
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 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. 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)Â | |
| 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 maps associated with this press release, please visit the following link: http://media3.marketwire.com/docs/170818_EXS_Maps_eng.pdf
Explor Resources Inc.
Christian Dupont
President
819-797-1870
888-997-4630 or 819-797-4630
[email protected]
www.explorresources.com
Gold for December delivery GCZ7, +0.60%  gained $8.60, or 0.7%, at $1,301.90 an ounce, marking the highest level for a most-active contract since Nov. 4, according to FactSet data. The yellow metal also is on pace for a weekly gain of about 0.5% based on last Friday’s closing level.
Meanwhile, September silver SIU7, +0.25% Â also rose, picking up 12 cents, or 0.7%, at $17.170 an ounce, on track for a weekly gain of about 0.6% and its highest closing level since around June.
A flight to assets perceived as safe has been underpinned by Thursday’s selloff in equities, highlighted by the worst downdraft for the Dow Jones Industrial Average DJIA, -0.28% and S&P 500 index SPX, -0.16%  since May 17.
Selling accelerated on Thursday, and threatened to continue to undercut sentiment on Friday, after a van plowed into crowds in one of Barcelona’s tourist venues, killing at least 13 people and injuring scores. Islamic State has claimed responsibility for the terror attack.
So-called risk assets, like stocks, had been riding higher drawing concerns that equities have become too richly priced making them vulnerable to a sharp slide after a run of repeated records and an erosion of confidence in Trump’s ability to enact policies that would help to boost the U.S. economy.
Markets were roiled Wednesday by unfounded rumors that presidential economic adviser Gary Cohn, a former Goldman Sachs executive, was set to resign his post as White House economic adviser in response to the president’s reaction to a white-supremacist rally that left one woman, Heather Heyer, dead. Trump’s response to the rally has caused a furor among business leaders.
That political turmoil has thrown into question Trump’s ability to follow through on campaign promises, including pledges on deregulation, tax cuts and a boost to infrastructure spending that had helped propel risk assets higher and gold lower.
However, mounting headwinds in the stock market have provided a path for gold and Treasury notes to climb higher.
The 10-year Treasury note TMUBMUSD10Y, -0.60% Â was recently yielding 2.19%, compared with about 2.24% at the start of the week. Bond prices move inversely to yields.
Lower bond yields can help to support buying of precious metals, which don’t offer a yield.
Weakness in the U.S. dollar, buffeted by the trove of risk factors, including concerns that the Federal Reserve will be hesitant to lift interest rates further this year, also has helped to lift gold’s price. The ICE U.S. Dollar Index DXY, -0.24% which measures the buck against six rival currencies, was off 0.1% and down on the day, although it has climbed 0.5% this week.
A softer dollar makes purchasing assets priced in the currency more attractive to buyers using weaker monetary units.
In exchange-traded funds, SPDR Gold Shares GLD, +0.45% Â was up 0.5%, the miner-focused VanEck Vectors Gold Miners ETF GDX, +1.24% gained 1% and iShares Silver Trust SLV, +0.25% Â was trading 0.7% higher.
Source: http://www.marketwatch.com/story/gold-retakes-1300-level-for-first-time-in-9-months-2017-08-18?siteid=
Montreal, Quebec / August 17, 2017 – St-Georges Platinum and Base Metals Ltd. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announce that it has received licensing documentation from the Icelandic government confirming that a definitive license to conduct mineral exploration on the Trollaskagi permit, identified as EL06, was granted to the company in July.
As per press release dated March 16, 2017, St-Georges gained control, directly or indirectly, of all the active mineral tenures in Iceland through the acquisition of Iceland Resources EHF. The newly granted exploration license covers 1017.7 square kilometers and is located in northern Iceland near the town of Akureyri. The area is fairly accessible; tracks and roads encompass the majority of the permitted zone. The Company can also rely on the infrastructure of nearby municipalities.
Figure 1. Location of the Trollaskagi license in Iceland
Click Image To View Full Size
Peaks in the region reach 1,538 meters above sea level. The area is characterized by calderas containing extensive rhyolite and low temperature zeolite alteration. A considerable reconnaissance effort was affected here by Melmi (Fleming, 2006) to identify any potential gold occurrences. Trollaskagi is located in an area with a mapped felsic central volcano that has not been explored in work conducted by previous explorers, Teck and Melmi. In 2006, Melmi conducted a program of stream sediment sampling in most of the major valleys using roads, tracks, and foot-traverses for access. Rock samples were also collected where alteration was encountered.
Figure 2. Trollaskagi regional access
Click Image To View Full Size
The license allows the holder to explore for minerals at surface, to research the dispersion, quantity and the geological and physical characteristics of the metals within the license area.
The license also allows the holder to perform drilling surveys in areas within the specified boundaries as long as the drilling program is submitted to the government and local authorities for compliance review and acceptance. This license does not give the holder permission to exploit a mining operation as mine permitting requires additional licensing reviews.
“(…) We are pleased with the decision of the Icelandic government in the matter of the Trollaskagi license,” said St-Georges’ president, Frank Dumas. “We have designed an initial exploration program for the area, which we expect to execute before the end of the next quarter. Findings will orient further work that should take place in late spring and summer of 2018. This is the second exploration license out of 8 applications that is granted to us and we are looking forward to continue our work in Iceland and move along the balance of our permitting effort (…) Achieving this milestone is essential as it demonstrates the expertise and commitment of our team in Iceland, and the Icelandic Government’s support of the development of the natural resource potential.”
Further information on the work program for Trollaskagi will be detailed in future press releases.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas’
FRANK DUMAS, PRESIDENT & CEO
About St-Georges
St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry. If these new technologies are successful, they should improve the financial bottom line of current mining producers. The potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing the environmental and social acceptability issues.
The Company control directly or indirectly all of the active mineral tenures in Iceland. It also explores for Nickel on the Julie Nickel Project & for industrial minerals on the Quebec’s North Shore and for Lithium and rare metals in Northern Quebec and in the Abitibi area. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
The Corporation intercepts multiple gold-bearing zones in the western extension of Diorite A
MONTREAL, Aug. 16, 2017 - MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V: MQR) (FRANKFURT: MR7) is pleased to report the results for the 2,500-metre drilling program on its Simkar Gold property, located approximately 20 kilometres east of Val-d’Or, Quebec, and less than 3 kilometres from the Company’s Beacon Gold mill (see map).
The program was designed to test the western extension of the “Diorite A”-hosted gold-bearing zone containing some of the mineralization of the Louvicourt Goldfields mine located at the centre of the Simkar Gold property, which was in production from 1945 to 1949 and 1987 to 1993. The four drill holes of the program (Figure 1) confirmed the presence of multiple gold zones in the western extension of “Diorite A”, with results including: 11.30 g/t Au over 0.7 metres in Hole CR-17-03; 15.85 g/t Au over 1.0 metres in Hole CR-17-04; 14.85 g/t Au over 0.7 metres in Hole CR-17-05; and 23.20 g/t Au over 0.4 metres in Hole CR-07-06. The overall results for the program were as follows:
|
Hole |
From |
To |
Length |
Au |
|
SK-17-03 |
78.6 |
81.3 |
2.7 |
2.96 |
|
including |
79.6 |
80.3 |
0.7 |
11.30 |
|
SK-17-03 |
177 |
198.1 |
21.1 |
1.02 |
|
including |
183.75 |
192 |
8.25 |
1.97 |
|
SK-17-03 |
420 |
420.3 |
0.3 |
5.46 |
|
SK-17-03 |
428.7 |
429 |
0.3 |
1.20 |
|
SK-17-03 |
439.4 |
440.2 |
0.8 |
1.74 |
|
SK-17-03 |
482 |
497.1 |
15.1 |
1.35 |
|
including |
486.7 |
489.4 |
2.7 |
3.53 |
|
SK-17-03 |
493.8 |
496.6 |
2.8 |
3.21 |
|
SK-17-04 |
9.5 |
38.6 |
29.1 |
0.71 |
|
including |
14.9 |
16.7 |
1.8 |
3.30 |
|
including |
23.9 |
25 |
1.1 |
3.05 |
|
including |
29 |
33.1 |
4.1 |
1.93 |
|
SK-17-04 |
59.6 |
60.3 |
0.7 |
2.77 |
|
SK-17-04 |
174.3 |
177.2 |
2.9 |
2.27 |
|
including |
174.3 |
175.3 |
1 |
6.43 |
|
SK-17-04 |
199.2 |
200.2 |
1 |
3.22 |
|
SK-17-04 |
420 |
421 |
1 |
2.77 |
|
SK-17-04 |
471.5 |
472.1 |
0.6 |
1.62 |
|
SK-17-04 |
521 |
522 |
1 |
15.85 |
|
SK-17-05 |
90 |
94.2 |
4.2 |
3.34 |
|
including |
92.4 |
93.1 |
0.7 |
14.85 |
|
SK-17-05 |
100.3 |
101 |
0.7 |
3.51 |
|
SK-17-05 |
448.7 |
449.5 |
0.8 |
1.08 |
|
SK-17-05 |
561.5 |
562 |
0.5 |
1.25 |
|
SK-17-06 |
304.1 |
304.7 |
0.6 |
2.22 |
|
SK-17-06 |
354.4 |
354.8 |
0.4 |
23.20 |
|
SK-17-06 |
474 |
474.5 |
0.5 |
3.47 |
|
SK-17-06 |
556.5 |
556.8 |
0.3 |
4.59 |
|
SK-17-06 |
587.7 |
588 |
0.3 |
1.96 |
The widths shown are core lengths; true width cannot be estimated.
“We are pleased with the results at Simkar Gold, particularly given that our four holes intercepted multiple mineralized zones down to a depth of around 600 metres, including a few sections with high gold grades,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “Clearly, the Simkar Gold property has good gold potential that we will continue to test during our next phase of work. Our objective is to increase the resources on our gold properties around the Beacon mill with a view to eventually producing at full capacity.”
The technical and scientific content of this press release has been reviewed and approved by Vincent Jourdain, Eng., Ph.D. Mr. Jourdain is employed by MRB & Associates and is a qualified person under National Instrument 43‑101.
Sampling normally consisted of sawing the core into two equal halves along its main axis and shipping one of the halves to the ALS Minerals laboratory in Val-d’Or for assaying. The samples are crushed, pulverized and assayed by fire assay with atomic absorption finish. Results exceeding 3.0 g/t are re-assayed using the gravity method, and samples containing gold grains are assayed using the metallic sieve method. Monarques uses a comprehensive QA/QC protocol, including the insertion of standards, blanks and duplicates.
ABOUT MONARQUES GOLD CORPORATION
Monarques Gold is a growing junior gold company focused on becoming the leading explorer and developer of gold properties in the Val-d’Or/Abitibi gold camp in Quebec, Canada. The Corporation currently has approximately 200 km² of gold exploration properties (see map) along the Cadillac Break, as well as its main asset, the Croinor Gold mine, which has great potential to become a producing mine. Monarques Gold is well financed and has close to $9 million in credits from Quebec’s Ministry of Energy and Natural Resources.
(Watch our latest Corporate Video)
Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques’ actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX Venture Exchange nor its Regulation Services. Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Monarques Gold Corporation
View original content with multimedia: http://www.newswire.ca/en/releases/archive/August2017/16/c2805.html
Jean-Marc Lacoste, President and CEO, 1-888-994-4465 x 201, [email protected], www.monarquesgold.com; Elisabeth Tremblay, Senior Geologist – Communications Specialist, 1-888-994-4465 x201, [email protected], www.monarquesgold.comCopyright CNW Group 2017
WHY GRIZZLY DISCOVERIES?
Greenwood Gold District
Grizzly owns 100% interest in over 220,000 acres (along with an 80% interest in an additional 8,500 acres) in the historically productive Republic-Greenwood gold district along the BC/USA borderThe Republic/Greenwood district has collectively produced more than 7 million ounces of gold with an additional 2+ million ounces of resources* in the area. There has also been over 650 million pounds of copper production adjacent to and in the area of the Greenwood property.
