Explor Increases East Bay Property
April 23 2014 - 4:30PM
Marketwired
Explor Increases East Bay Property
ROUYN-NORANDA, CANADA--(Marketwired - Apr 23, 2014) - Explor
Resources Inc. ("Explor" or "the Corporation")
(TSX-VENTURE:EXS)(OTCQX:EXSFD)(FRANKFURT:E1H1)(BERLIN:E1H1) is
pleased to announce the acquisition of a mineral claim located in
the Duparquet Township, in the Rouyn-Noranda Mining Division,
Province of Quebec for a total of 42.51 hectares. The claim is
contiguous to the East Bay Property. Explor will issue 50,000
shares to acquire a 100% interest in the additional East Bay claim.
The vendor has retained a 1% NSR in the property.
This acquisition is in line with the Corporation's strategy of
increasing its property 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 3,884.08 ha of land
along this section of the PDFZ. The East Bay Gold Property is
located to the west and north 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).
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.
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, 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. 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, President888-997-4630 or
819-797-4630819-797-6050www.explorresources.comInvestor
Relations:Gary Lindsey, United States:1-720-273-6224Michael Adams,
Europeinfo@star-ir.com