News Feed Item

Explor Kidd Township Strategic Property Acquisition

ROUYN-NORANDA, CANADA -- (Marketwired) -- 07/14/14 -- Explor Resources Inc. ("Explor" or "the Corporation") (TSX VENTURE: EXS)(OTCQX: EXSFD)(FRANKFURT: E1H1)(BERLIN: E1H1) is pleased to announce the acquisition of 4 significant mineral claim units totalling 64 hectares situated in the Porcupine Mining division, District of Cochrane, Kidd Township, Ontario. These additional claims are west of the Xstrata Kidd Creek Mine and contiguous to the existing Explor claims to the north of the Glencore Xstrata Chance deposit.

Explor Resources Inc. will issue 200,000 common shares at signature for an Option to acquire a 100% interest in the additional Kidd Township claims. The Optionors have retained a 2.0% NSR in the property. This acquisition is subject to the approval of the TSX Venture Exchange.

The Company's Kidd Township Group of Properties are located to the west, south and south east of the Xstrata Kidd Creek Mine as shown on the attachment, approximately 20 km north of Timmins, Ontario. These additional 4 units are contiguous to the Kidd Township property, and northwest of the Xstrata Kidd Creek Mine. This acquisition increases Explor's land position in the area to 2,530 hectares. The most obvious topographical feature in the area is the Xstrata Kidd Creek open pit mine, approximately 1.6 km to the east of the property.

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 Xstrata 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 southeast of the Xstrata 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.

The newly acquired property is approximately 0.5 km to the North of the Glencore Xstrata Chance Deposit (Zn-Pb-Ag) and to the Northwest of the Xstrata Kidd Creek Deposit as detailed on the attachment. Clearly, the newly acquired claims appear to be on the same Synvolcanic Collapsed Structure as the Xstrata Kidd Creek Mine and the Xstrata Chance Deposit. Some of the EM (Electromagnetic) targets occur along magnetic boundaries suggestive of Rhyolite/Basalt contacts. The Xstrata Kidd Creek Mine located to the east of the 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 Xstrata 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 (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.

A map is available at the following link: http://media3.marketwire.com/docs/956878a_Fig.pdf.

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 MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, will discuss how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team a...
OnProcess Technology has announced it will be a featured speaker at @ThingsExpo, taking place November 1 - 3, 2016, in Santa Clara, California. Dan Gettens, OnProcess’ Chief Analytics Officer, will discuss how Internet of Things (IoT) data can be leveraged to predict product failures, improve uptime and slash costly inventory stock. @ThingsExpo is an annual gathering of IoT and cloud developers, practitioners and thought-leaders who exchange ideas and insights on topics ranging from Big Data in...
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Digitization is driving a fundamental change in society that is transforming the way businesses work with their customers, their supply chains and their people. Digital transformation leverages DevOps best practices, such as Agile Parallel Development, Continuous Delivery and Agile Operations to capitalize on opportunities and create competitive differentiation in the application economy. However, information security has been notably absent from the DevOps movement. Speed doesn’t have to negat...
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...