- Announced the commencement of a Diamond Drilling Program on the Ogden Gold Property
- Consist of 8 mining claims (70 mineral claim units) covering 1,120 hectares situated in the Porcupine mining division, district of Cochrane, in the Ogden Township, Ontario
- Claims are contiguous and to the east of the Timmins Porcupine West Property
ROUYN-NORANDA, QC–(March 22, 2016) – Explor Resources Inc. (“Explor” or “the Corporation”) (TSX VENTURE: EXS) (OTCQX: EXSFF) (FRANKFURT: E1H1) (BERLIN: E1H1) is pleased to announce the commencement of a Diamond Drilling Program on the Ogden Gold Property. The property is located 12 kilometers southwest of the city of Timmins, Ontario. The property consist of 8 mining claims (70 mineral claim units) covering 1,120 hectares situated in the Porcupine mining division, district of Cochrane, in the Ogden Township, Ontario. These claims are contiguous and to the east of the Timmins Porcupine West Property as shown on the attached map. Access to the property is via an all-weather road from Highway 101 to the west of the property.
The exploration program will consist of 3,000 meters of diamond drilling. This diamond drill program will concentrate on geophysical targets as identified by Explor’s recent ground geophysical survey and IP work conducted by Inmet and Knick Exploration. Analysis of existing geophysical data along with Explor’s recently completed work has revealed a major geological structure similar to the one located on Explor’s Timmins Porcupine West Gold Property. It would appear to be a continuation of the Bristol Porphyry on the other side of the Mattagami River fault. Previous reconnaissance exploration work by Inmet Mines defined several induced polarization anomalies (1997) and these are incorporated with recent I.P. survey data as the surveys were completed by the same service company and all original data has been acquired by Explor Resources.
The 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.
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.
The Ogden Property is contiguous on the east side of the Timmins Porcupine West 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 information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQX (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (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.
Image Available: http://www.marketwire.com/library/MwGo/2016/3/22/11G088665/Images/zz-68a5c2d7e88582b4afeeada2bec0cf63.jpg
For further information please contact:
Christian Dupont
President
Tel: 888-997-4630 or 819-797-4630
Fax: 819-797-6050
Website: www.explorresources.com
Email: [email protected]
