Oct 20 2015
Explor Resources Inc. ("Explor or the "Corporation") is pleased to announce the beginning of a diamond drilling program on the Timmins Porcupine West Property ("the Property"). The recently completed review of the technical data by Teck Resources Limited ("Teck") has prompted a diamond drilling program. Teck has the option to earn up to a 70% interest on the Property from Explor (press release dated December 29, 2014). The proposed 2015 drill program will be conducted under the supervision of Teck.
Explor's previous work successfully confirmed Explor's model and the gold bearing mineralized structure for more than 2000 meters of strike length at a vertical depth from 600 to 900 meters. It is currently open on strike and at depth. The first six phases of drilling (115,000 meters) were concentrated on the south limb of the geo-syncline.
Teck has reviewed Explor Resources' data and reclassified a gold-bearing mineralized system with high grade West Deep Zone, and a sparsely drilled gap zone in between and porphyry zones to the east over a 2000 meters strike length.
The proposed 2015 diamond drill program has been designed with 4 holes for initial drill testing of Teck's model. The program comprises one step-out hole in the high grade West Deep Zone, two holes in the sparsely drilled gap between the West Deep and Porphyry zones and one hole to test the up-dip extent of mineralization within and below the Porphyry zones, for a total of approximately 3,600 meters. Up to 1,400 meters of additional drilling may be completed (for a total of up to 5,000 meters), as either new holes, or as wedges off of 2015 proposed holes, depending on results obtained.
Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented, "The new campaign of diamond drilling is planned to build on the existing database and establish continuity and grade of the mineralization and test for additional high grade zones.
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 highway 101 bisects the property and provides access from the city of Timmins located 13 km to the east. The 3-D geological model may be viewed on our website: www.explorresources.com. 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 open below 350 meters of vertical depth.
The Timmins Porcupine West Project has as a Target Model "The Hollinger-McIntyre-Coniaurum System." The Hollinger-McIntyre-Coniaurum (HMC) System has produced a total of over 30 million oz of gold and is spatially associated with the Pearl Lake Porphyry.
Christian Dupont, P.Eng is the qualified person responsible for the technical information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQX (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).