|By Marketwired .||
|February 17, 2014 05:00 PM EST||
ROUYN-NORANDA, CANADA -- (Marketwired) -- 02/17/14 -- Explor Resources Inc. ("Explor or the "Corporation") (TSX VENTURE:EXS)(OTCQX:EXSFD)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the results of the East Bay Property exploration program. The analysis of previous exploration by Cambior and others has revealed several interesting targets. The exploration program consisted of a preliminary 1500 meter drill program.
This program is in line with the Corporation's strategy of conducting exploration along the Porcupine Destor Fault Zone (PDFZ), where several notable gold deposits have been found in the past, including the Timmins mining camp which produced more than 65 million oz of gold. The Corporation now owns 3,203.71 ha of land along this section of the PDFZ, as shown on the attached plan. Explor's East Bay property is contiguous and wraps around the western portion of the Clifton Star's Duparquet property as shown on the attached plan. The East Bay property is approximately 0.5 km west of the former Consolidated Beattie and Donchester Gold Mines, which has produced over 1.0 million oz of gold between 1933 and 1956. Clifton Star has recently announced (Press Release dated June 28, 2013) significant open pit and underground resource on their property.
The East Bay Gold Property is located to the west of the Consolidated Beattie and Donchester Gold Property and contiguous to the ground on which Clifton Star Resources Inc. continues to intersect wide width of gold mineralization (Press Releases dated June 19 and June 6, 2013).
Drilling was aimed at two targets along the prolific fault zone, respectively in Duparquet and Hebecourt Townships, consisted of 5 drill holes aggregating 1,224.0 metres.
Beattie West Target Area (Duparquet Twp) consisted of a 1988 drill hole which had cored sheared-altered rocks hosting a 0.93 metre-long quartz-rich interval grading 6.4 g/t Au.
The four holes drilled in 2013 on this target (EXS-13-01 to EXS-13-04) were laid out according to the follow-up drill program proposed in 1988, through a tighter spacing. With an aggregate total of 879 metres, all four drill holes encountered a sequence of highly sheared and altered felsic tuffs and quartz porphyries, with subordinate felsic and mafic volcanics and ultramafics.
Quartz flooding occurs through each drill hole; with fine pyrite reaching 1% locally in the first three holes and 1-3% locally in the fourth hole, the deepest of the drill program.
Weak gold mineralization was cored in drill hole EXS-13-01, which returned 356 ppb over 1.5 m and in EXS-13-02 which returned 575 ppb over 1.5 m, in a 4.5 metre-long interval grading 301 ppb. Because of folding, core angle measurements on the tectonic fabric are quite variable throughout the drill sections, but dips are commonly at 20-30 degrees, indicating southwestward dip.
Stronger gold mineralization was cored in drill hole EXS-13-04, which returned 1.68 g/t Au over a 2.0 interval. The host rock is rhyolite-looking, weakly pyritized (1-3% pyrite) and wedged between strongly sheared to mylonitic quartz-floored felsic tuffs and ultramafics.
The Wettring target Area (Hebecourt Twp) consisted of a cluster of 5 drill holes completed in 1945, in which numerous metre-long quartz-bearing intersections returned 1.0 to 4.0 g/t Au. Quartz veining was reported to be associated with a WNW- trending shear, a possible low-angle splay fault off the east-west Destor Porcupine fault zone to the south. The program proposed in 2013 consisted of locating and testing the proposed WNW-trending gold-bearing splay fault.
The 345.0 meter-long drill hole (EXS-13-05) completed on this target returned very encouraging results at depth and near the end of the hole, including two narrow gold-bearing intersections similar to those reported in 1945 and a very long intersection of anomalous gold mineralization.
The two narrow intersections consist of 2.61 g/t Au over 1.2 m in strong silicified, quartz-dolomite (ankerite) tourmaline flooded, strongly sheared felsic tuffs; and 2.0 g/t Au over 2.0 m intermittently quartz-dolomite (ankerite) flooded strongly sheared quartz porphyry marked by strong sericite alteration and 1-10% fine disseminated pyrite.
The long interval of anomalous gold mineralization was cored over 19.5 m (64ft), returning assays ranging 122 to 809 ppb (0.12 to 0.81 g/t). This interval included 12.0 m (39.3 ft) grading 540 ppb (0.54 g/t) Au, which in turn included a 7.5 m (24.6 ft) interval in which gold assays range 515 to 809 ppb (0.51 to 0.81 g/t), averaging 692 ppb (0.69 g/t).
This thick anomalous zone is hosted by strongly sheared and sericitic quartz porphyry, marked by 10-40% quartz-dolomite (ankerite) flooding with fuchsite and locally, tourmaline and epidote; fine disseminated pyrite occurring in traces to 1-2% locally. Core angle measurements on the tectonic fabric indicate a vertical to very steep southern dip.
All casings were left in place and capped. Based on the presence of geochemically anomalous gold down to the end of drill hole EXS-13-05, deeping on this hole will be required in the future.
Altogether, 672 cores samples were collected and submitted for analysis for gold during this program.
Assays were conducted on NQ sized half core sections. The diamond drill core was 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. Pulps and rejects are returned and stored in secure containers. Intersections are reported using drilled widths unless specified otherwise, with assay values.
Geological Context & Mineralization
The mineralization on the East Bay gold property is similar to the Beattie Island within Duparquet Lake and is hosted within the Destor Theolitic Unit of the Blake River Group. Mineralization is associated with interflow volcanic sediments between andesite flows and dioritic sills. The alteration consists of silicification, carbonization and considerable sulphide enrichment.
Explor Rights Offering
Explor also announces that the rights issued pursuant to the rights offering by prospectus dated December 17, 2014, have expired on February 7, 2014 at 5:00 p.m. A total of 177,310 rights were subscribed for an amount of $17,731 and the Corporation issued 177,310 common shares on exercise of these rights.
Explor Resources invites investors to visit our booth at the following conference:
Booth #2122 at the Investor Exchange of the PDAC 2014 located in the south building of the Metro Toronto Convention Center from March 2 to March 5, 2014.
The management team at Explor Resources Inc. looks forward to having you join us.
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 (EXSFD) 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, 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) -- 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 map East Bay Property, please visit the following link: http://media3.marketwire.com/docs/927974_ENG.pdf
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 10, 2016 08:15 AM EST Reads: 1,246
"We analyze the video streaming experience. We are gathering the user behavior in real time from the user devices and we analyze how users experience the video streaming," explained Eric Kim, Founder and CEO at Streamlyzer, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 10, 2016 07:30 AM EST Reads: 765
"This is specifically designed to accommodate some of the needs for high availability and failover in a network managed system for the major Korean corporations," stated Thomas Masters, Managing Director at InfranicsUSA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 10, 2016 06:45 AM EST Reads: 541
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Dec. 10, 2016 06:00 AM EST Reads: 711
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 10, 2016 04:45 AM EST Reads: 1,099
"We are a leader in the market space called network visibility solutions - it enables monitoring tools and Big Data analysis to access the data and be able to see the performance," explained Shay Morag, VP of Sales and Marketing at Niagara Networks, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 10, 2016 04:30 AM EST Reads: 552
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Dec. 10, 2016 04:15 AM EST Reads: 1,391
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Dec. 10, 2016 04:15 AM EST Reads: 577
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Dec. 10, 2016 04:00 AM EST Reads: 5,527
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Dec. 10, 2016 04:00 AM EST Reads: 5,320
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Dec. 10, 2016 03:15 AM EST Reads: 504
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
Dec. 10, 2016 02:45 AM EST Reads: 2,270
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Dec. 10, 2016 02:15 AM EST Reads: 806
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
Dec. 10, 2016 02:00 AM EST Reads: 1,995
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Dec. 10, 2016 02:00 AM EST Reads: 657