Welcome!

News Feed Item

Explor Completes Update on East Bay Exploration Program

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

Contacts:
Christian Dupont, President
888-997-4630 or 819-797-4630
819-797-6050 (FAX)
www.explorresources.com

Investor Relations:
Gary Lindsey, United States
1-720-273-6224

Michael Adams, Europe
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
You want to start your DevOps journey but where do you begin? Do you say DevOps loudly 5 times while looking in the mirror and it suddenly appears? Do you hire someone? Do you upskill your existing team? Here are some tips to help support your DevOps transformation. Conor Delanbanque has been involved with building & scaling teams in the DevOps space globally. He is the Head of DevOps Practice at MThree Consulting, a global technology consultancy. Conor founded the Future of DevOps Thought Leade...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
DXWorldEXPO LLC announced today that "IoT Now" was named media sponsor of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
The technologies behind big data and cloud computing are converging quickly, offering businesses new capabilities for fast, easy, wide-ranging access to data. However, to capitalize on the cost-efficiencies and time-to-value opportunities of analytics in the cloud, big data and cloud technologies must be integrated and managed properly. Pythian's Director of Big Data and Data Science, Danil Zburivsky will explore: The main technology components and best practices being deployed to take advantage...
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER gives detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPOalso offers sp...
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...