ROUYN-NORANDA, QUEBEC–(Marketwired – Aug. 18, 2017) – Explor Resources Inc. (“Explor” or the “Corporation”) (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the results of 8 drill holes being the next series of holes on the diamond drilling program. This program consisted of the extension of 5 previously drilled holes and the completion of 3 new Diamond Drill Holes. Holes #TPW-17-101EX, #TPW-17-102EX, #17-103EX, #TPW-17-104EX and #TPW-17-109 were extended to test the theory that Shear Zone #5 extended across the property. New Holes #TPW-17-124, #TPW-17-125 and #TPW-17-127 were drilled and are reported in this press release.
The attached DDH and Open Pit Plan view show the location of the three potential Open Pit areas that are located over an 1800 meter strike length and 250 meters of depth. The recently completed Diamond Drilling Program was concentrated in the eastern end in proximity to and in Area “B” in order to increase the near surface resource and connect the eastern portion of the potential open pit areas.
Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: “We continue to be extremely pleased and encouraged by these excellent drill results. The fact that Explor continued to intersect near surface gold mineralization in area “B” continue to confirm existence of a near surface open pit gold resource that extends over a strike length of 1800 meters.”
It is important to note that the strike length of the gold mineralization is greater than 2000 meters at depth. The continuity of mineralization continues to be confirmed, and the structure remains open on strike and at depth. Explor has intersected gold mineralization in 121 out of 126 holes drilled to date and 64 out of 65 wedges. The Diamond drill Program recently completed was designed to test the continuity of the near surface gold mineralization as it relates to a potential open pit and to test the interpretation that Shear Zone #5 extends from the west deep high grade zone to the lower grade near surface gold bearing zone.
A total of 3163.4 meters were drilled to expand and update the open pit potential of the TPW property of Explor Resources by intersecting North-east-South-west trending Shear Zone #5 that was originally discovered in Hole #TPW-13-101 completed in the 2013 drill program.
The drill program was successful in intersecting Shear Zone #5 in four (4) holes with 14 gold values as well as intersecting an additional 14 gold values from 3 holes drilled in previously untested areas of the mineralized strike length. The addition of 28 gold values ranging from 1.06 to 7.3 g/t Au over 1.5 meters within the proposed open pit area clearly shows the extent and potential of this zone.
In summary, holes #TPW-17-101EX, #TPW-17-102-EX, #TPW-17-103EX and #TPW-17-104EX intercepted Shear Zone #5 with 14 gold values ranging from 1.06 to 7.3 g/t gold over 1.5 meters. As well, new fill in holes #TPW-17-124, #TPW-17-125 and #TPW-17-127 in Area “B” intersected 14 gold values from 1.1 to 5.1 g/t Au over 1.5 meters, mostly from east-west trending Shear Zones #1 to #4.
More importantly, Holes TPW-17-101EX, TPW-17-102EX and TPW-17-104EX intercepted gold values from a previously undetected east-west trending shear which has now been interpreted as Shear Zone # 6.
The spring 2017 drill program to increase the potential of the proposed open pit on the TPW property of Explor Resources was successful as it:
- Confirmed our interpretation of the location of Shear Zone #5 and more importantly the diamond drilling.
- Revealed a gold mineralized Shear Zone to the south of Shear Zone #5 that we now call Shear Zone # 6.
The results are as follows:
| Hole # | From | To | Interval | Gold | |||
| (m) | (m) | (m) | (ft) | (g/tonne) | (oz/ton) | ||
| Hole #101EX | 501.0 | 502.5 | 1.50 | 4.92 | 7.370 | 0.261 | |
| 601.5 | 606.0 | 4.50 | 14.76 | 1.143 | 0.041 | ||
| Hole #102EX | 470.0 | 471.0 | 1.00 | 3.28 | 1.451 | 0.051 | |
| 514.4 | 516.0 | 1.50 | 4.92 | 1.510 | 0.054 | ||
| 537.0 | 541.5 | 4.50 | 14.76 | 1.873 | 0.066 | ||
| 555.0 | 556.5 | 1.50 | 4.92 | 4.830 | 0.171 | ||
| Hole #103EX | 553.0 | 556.5 | 4.50 | 14.76 | 1.875 | 0.066 | |
| 559.5 | 561.0 | 1.50 | 4.92 | 2.500 | 0.089 | ||
| Hole #104EX | 568.5 | 570.0 | 1.50 | 4.92 | 1.820 | 0.065 | |
| 595.5 | 597.0 | 1.50 | 4.92 | 2.060 | 0.073 | ||
| Hole #109EX | Nothing of significant value | ||||||
| Hole #124 | 97.5 | 99.0 | 1.50 | 4.92 | 4.940 | 0.175 | |
| 154.5 | 156.0 | 1.50 | 4.92 | 1.294 | 0.046 | ||
| 220.5 | 222.0 | 1.50 | 4.92 | 1.096 | 0.039 | ||
| 406.5 | 408.0 | 1.50 | 4.92 | 2.670 | 0.095 | ||
| 436.5 | 438.0 | 1.50 | 4.92 | 5.040 | 0.179 | ||
| 459.9 | 460.9 | 1.50 | 4.92 | 3.260 | 0.116 | ||
| Hole #125 | 383.5 | 384.5 | 1.00 | 3.28 | 5.110 | 0.181 | |
| 409.5 | 411.0 | 1.50 | 4.92 | 1.300 | 0.046 | ||
| Hole #127 | 199.5 | 201.0 | 1.50 | 4.92 | 2.060 | 0.073 | |
| 205.5 | 210.0 | 4.50 | 14.76 | 2.393 | 0.085 | ||
| 217.0 | 218.0 | 1.50 | 4.92 | 1.076 | 0.030 | ||
| 231.0 | 232.5 | 1.50 | 4.92 | 1.200 | 0.035 | ||
| 241.5 | 244.5 | 3.00 | 9.84 | 1.885 | 0.067 | ||
| 246.0 | 247.5 | 1.50 | 4.92 | 1.100 | 0.039 | ||
Assays are conducted on NQ sized half core sections. The diamond drill core is 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. and Pulps and rejects are returned and stored in secure containers. Intersections are reported using drilled widths unless specified otherwise, with assay values as simple averages of duplicates and gravimetric results.
The mineralization on the south limb strikes Northeast -Southwest and dips to the north at 70 to 80 degrees. The drilling confirms the association of gold mineralization with Quartz feldspar (QFP) and syenite porphyry, found on both the Lakeshore and West Timmins Properties currently owned by Tahoe. The larger zones of mineralization display a strong spatial relationship with proximity to syenite intrusive rocks and high Fe-tholeitic volcanic rocks. The 3D Geological Model may be viewed on our website: www.explorresources.com.
Explor is focused on developing a mineable resource based on the drill results that have been obtained to date. A NI 43-101 technical report has been completed by P & E Mining Consultants of Brampton, Ontario (Press Release dated August 27, 2013).
The results of Explor’s drilling have been incorporated into the Timmins Porcupine West Exploration Video which is available for viewing on the website. The Timmins Porcupine West Project has as a Target Model “The Hollinger-McIntyre-Coniaurum System.” To date, Explor’s drill program has confirmed the idealized Hollinger-McIntyre-Coniaurum (HMC) isometric model. The HMC system has produced a total of over 30 million oz of gold and is spatially associated with the Pearl Lake Porphyry.
The Timmins Porcupine West Gold Property consists of 185 unpatented mining units and 3 patented claims located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 3,200 hectares. The property is contiguous with Lakeshore Gold West Timmins Mine. Highway 101 bisects the property and provides access from the city of Timmins located 13 km to the east.
The property has been explored since 1927 by numerous ground geophysical surveys and diamond drilling of up to 111 holes. In 1984, Dome Exploration discovered and delineated a gold mineralized zone that was approximately 350 meters long and 45 meters wide and is open below 350 meters of vertical depth. The drill program on the Timmins Porcupine West Property is on- going.
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 Resources Inc. Neither the TSX Venture Exchange Inc 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 maps associated with this press release, please visit the following link: http://media3.marketwire.com/docs/170818_EXS_Maps_eng.pdf
Christian Dupont
President
888-997-4630 or 819-797-4630
819-797-1870 (FAX)
[email protected]
www.explorresources.com
