ROUYN-NORANDA, QUEBEC–(Marketwired – May 10, 2017) – Explor Resources Inc. (“Explor” or “the Corporation”) (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the results of the Diamond Drilling Program completed on the Kidd Township Property this winter. The Corporation’s Kidd Township Group of Properties are located to the North, South, West and East of the Kidd Creek Mine Site, located approximately 20 km north of Timmins, Ontario. Explor’s Kidd Township’s Group of Properties have a land position that cover an area of approximately 2,805.20 hectares as shown on the attached Property Map. The most obvious topographical feature in the area is the Open Pit located in the central portion of Explor’s Kidd Township group of Properties. Explor has completed a geophysical program consisting of mag and max/min to better define the targets in December 2016 and completed a 2,420 meter diamond drill program.
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.
Between January and March, 2017, a three (3) Hole diamond drill program was initiated in the Timmins area on Explor’s “Kidd Township Group of Properties”. Holes KC-17-07, KC-17-08 & KC-17-09 totalling 2420 meters of NQ core were drilled in Carnegie Township. KC-17-07 was drilled on claim 4210980 and Holes KC-17-08 & KC-17-09 were drilled on Patent 4419. The winter 2017 diamond drill program was initiated as a follow-up to diamond drill program completed in 2016 by Explor and to continue to drill test an east-west trending magnetic and electromagnetic conductor in the claim block. Finally, the drill program was also initiated to try to duplicate with Hole KC-17-07 down-dip Zinc values as high as 1.50% (15,000 ppm Zn.) intersected in Hole KC-16-03 during the 2016 summer-fall drill program. The 2017 winter drill program completed on the Carnegie Township claim 4210980 and Patent 4419 with holes KC-1-07, Kc-17-08, & KC-17-09 intersected altered mafic volcanic flows, pillow flows, flow breccia, greywacke/argillite, ultramafic rocks, mafic and felsic ash to lapilli tuffs & fragmental rocks with moderate to strong sericite and silica alteration.
The best zinc value of 964 ppm was intersected in Hole KC-17-07 within a graphitic fault/shear from 292.5 to 294 meters with 10-15% stringers pyrite and pyrrhotite. Hole KC-17-09 intersected 551 ppm Zn from 454.8 to 456 meters within a 10cm fault with <.5% pyrite in a fragmental argillite. As well, Hole KC-17-09 returned 408 ppm Zn from a minor fault with rubble from 595.5 to 597 meters. Although no economic Zinc values were encountered, many of the lithological units and accompanying alteration intersected in all three 2017 holes were very similar to ore making rock units within the Kidd Creek mine directly to the south. No significant gold, copper or lead values were encountered.
The 2017 diamond drill program in Carnegie Township as initiated by Explor from January to March, 2017 was successful in drill testing several magnetic and electromagnetic conducting targets as well as structures within claims 4210980 and patent 4419 with holes KC-17-07, KC-17-08 & KC-17-09. Although no economic zinc, copper, lead or gold values were encountered, this phase of diamond drilling has shown the presence of silica and sericite altered coarse felsic pyroclastics, sulphides, graphitic exhalative horizons and anomalous Zinc values commonly found associated with world class type of VMS deposit similar to the Kidd Creek deposit located immediately to the south.
To date, the East-West extent of the EM conductors in Carnegie Township has not been fully drill tested. As well, the intersection of sericite & silica altered coarse pyroclastics, exhalative horizons, mafic fragmentals, graphitic material and sulphides within KC-17-07, KC-17-08 & KC-17-09 suggests close proximity to vent system similar to that found in the Kidd Creek mine. Therefore, the next phase of diamond drilling should concentrate on the East-West extent of the electromagnetic feature in claim 4210980 east and west of the 1.5% (15000 ppm Zn) in Hole KC-16-03.
The intersection of moderately to strongly silica and sericite altered pyroclastic, graphitic argillite and exhalative horizons in Hole KC-17-09 within patent 4419 strongly suggests proximity to a vent system similar to that found in the mine to the south east. Therefore, a modest drill program focused around Hole KC-17-09 and along the NW-SE structure may uncover a zinc, lead & copper deposit.
Explor believes 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 Group of Properties with anomalous zinc and copper supports the opinion that additional VMS Deposits exist within the Kidd Township Group of Properties as shown on the attached map located in the Timmins/Porcupine Mining Camp.
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 OTCQB (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. 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.
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