Agoracom Blog Home

Posts Tagged ‘Lake Shore Gold (TSX: LSG)’

Explor Increases Kidd Township Property $EXS.ca

Posted by AGORACOM-JC at 4:13 PM on Monday, June 6th, 2016

Exs_logo

  • Announced the acquisition of 1 patented claim totalling 64.7 hectares situated in the Porcupine Mining division, District of Cochrane, Carnegie Township, Ontario. This additional claim is northwest of the Glencore Kidd Creek Mine
  • Will pay a total of $6,000 and issue 200,000 common shares for an Option to acquire a 100% interest in the additional Kidd Township patented claim. The seller has retained a 2.0% NSR in the property.

ROUYN-NORANDA, QUÉBEC–(June 6, 2016) – Explor Resources Inc. (“Explor” or “the Corporation”) (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the acquisition of 1 patented claim totalling 64.7 hectares situated in the Porcupine Mining division, District of Cochrane, Carnegie Township, Ontario. This additional claim is northwest of the Glencore Kidd Creek Mine.

Explor Resources Inc. will pay a total of $6,000 and issue 200,000 common shares for an Option to acquire a 100% interest in the additional Kidd Township patented claim. The seller has retained a 2.0% NSR in the property. This acquisition is subject to the approval of the TSX Venture Exchange.

The Corporation’s Kidd Township Group of Properties are located to the North, South, West and East of the Glencore Kidd Creek Mine, located approximately 20 km north of Timmins, Ontario. This additional claim is north to the Kidd Township property, and approximately one kilometer Northwest of the Glencore Kidd Creek Mine site. This acquisition increases Explor’s land position in the area to 2,805.20 hectares. The most obvious topographical feature in the area is the Glencore Kidd Creek open pit mine, located in the central portion of Explor’s Kidd Township group of Properties.

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 Glencore Kidd Creek Mine 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 southwest of the Glencore Kidd Creek Mine (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 Property to the west, south and southeast of the existing Kidd Creek Mine clearly warrant further investigation. Explor Resources Inc. is currently conducting an exploration and drill program on the Kidd Township property. Results are pending.

The newly acquired claim is approximately 1 km to the Northwest of the Glencore Kidd Creek Mine Site. Clearly, the newly acquired claim appears to be on the same Syn-volcanic Collapsed Structure as the Glencore Kidd Creek Mine and the Glencore Chance Deposit. The Glencore Kidd Creek Mine located to the South-east of the newly acquired property has produced 152,600,000 tonnes of Base Metal Ore (Cu-Zn-Pb-Ag) since it began production in 1966.

This acquisition is being made in support of Explor’s belief 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 Properties with anomalous zinc and copper supports the opinion that additional VMS Deposits exist in the immediate vicinity of the Glencore Kidd Creek Mine.

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.

Christian Dupont, President
888-997-4630 or 819-797-4630
819-797-6050
[email protected]
www.explorresources.com

Durango Provides Disclosure Update

Posted by AGORACOM-JC at 2:55 PM on Thursday, February 11th, 2016

Logo

  • Company announces that further to the release on February 9, 2016, the property under review adjoins the Lake Shore Gold Corp. (TSX-LSG) and Goldcorp’s (TSX-G) Whitney project in Ontario.
  • Lake Shore Gold announced a $945M business combination with Tahoe Resources Inc. on February 8, 2016 whereby all the common shares will be acquired by Tahoe Resources Inc.

Vancouver, BC / February 11, 2016 – Durango Resources Inc. (the “Company” or “Durango”) announces that further to the release on February 9, 2016, the property under review adjoins the Lake Shore Gold Corp. (TSX-LSG) and Goldcorp’s (TSX-G) Whitney project in Ontario. Lake Shore Gold announced a $945M business combination with Tahoe Resources Inc. on February 8, 2016 whereby all the common shares will be acquired by Tahoe Resources Inc.

For disclosure purposes, Durango announces it wholly owns a property adjacent to the south of Metanor Resources (TSX.V-MTO) Moroy discovery in Quebec where Metanor announced today that a 60,000 metre drill program will commence at the end of February.

About Durango Resources Inc.

Durango is a natural resource company engaged in the acquisition and exploration of mineral properties. In addition to the Mayner’s Fortune and Smith Island limestone projects, the Company holds a 100% interest in the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the Buckshot graphite property near the Miller Graphite mine in Quebec.

DURANGO donne une information UPDATE

Vancouver, BC / TNW – Accesswire / Fevrier 11, 2016 – Ressources Durango Inc. (la Societe ou Durango) annonce que suite a la liberation le 9 Fevrier, 2016, la propriete a l’etude jouxte le Lake Shore Gold Corp.(TSX-LSG) et (TSX-G) Whitney projet de Goldcorp en Ontario. Lake Shore Gold a annonce un regroupement d’entreprises 945 M $ avec Tahoe Resources Inc. le 8 Fevrier, 2016 par lequel toutes les actions ordinaires seront acquises par Tahoe Resources Inc.

A des fins d’information, Durango annonce qu’il en propriete exclusive, une propriete adjacente au sud de la decouverte Ressources Metanor (TSX.V – MTO) Moroy au Quebec, ou Metanor a annonce aujourd’hui qu’un programme de forage de 60,000 metres debutera a la fin de Fevrier.
A propos de Ressources Durango Inc.

Durango est une societe de ressources naturelles engagee dans l’acquisition et l’exploration de proprietes minieres. En plus des projets de calcaire Fortune et de l’ile Smith de la Mayner, la Societe detient un interet de 100% dans la decouverte et de proprietes auriferes Trove dans la region de l’Abitibi au Quebec, et la propriete de graphite Buckshot pres de la mine Miller Graphite au Quebec.

For further information on Durango, please refer to SEDAR at www.sedar.com.

Marcy Kiesman, Chief Executive Officer

Telephone: 604.339.2243

Facsimile: 888.266.3983

Email: [email protected]

Website: www.durangoresourcesinc.com

Forward-Looking Statements

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs, execution of a definitive agreement, raising of funds, obtaining regulatory approvals and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.

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 release.