Explor Intersects North Limb of Syncline on Timmins Porcupine West
ROUYN-NORANDA, CANADA -- (Marketwire) -- 09/26/12 -- Explor Resources Inc. (TSX VENTURE: EXS)(OTCQX: EXSFF)(FRANKFURT: E1H) is pleased to announce the completion of the Stratigraphic Diamond Drill Hole (Press Release April 17, 2012) as shown on the attached sectional plan and the analysis of the drill results on the North Limb of the Timmins Porcupine West Property, ("TPW Property"). The results of 3 drill holes, Holes #12-67, 12-67A, and 12-67B are reported in this press release.
Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "We are extremely pleased and encouraged by the geology and structure encountered in the drill holes. The lower grades encountered on the North Limb near surface mimics the lower grades encountered on the South Limb near surface by Explor and the previous operators of the property. The intersection of the North Limb fault as well as the other faults encountered provides the necessary conduits for transport of gold mineralization."
Hole #TPW-12-67 was collared at an azimuth of 210 degrees and a dip of -85 degrees in order to achieve a down hole azimuth of 180 degrees because of the schistosity of the rock. The hole was designed as a stratigraphic hole to prove the concept of a synclinal structure similar to that of the Hollinger-McIntyre model. A major fault structure was intersected at approximately 174 m down hole. All efforts to pass through failed and the hole was abandoned. Hole #TPW-12-67A was collared at the same location with an azimuth of 240 degrees and a dip of -85 degrees. A major fault structure was intersected at 456 m down hole. All efforts to pass through failed and the hole was abandoned. Hole #TPW-12-67B was collared 26 meters north of TPW-12-67 at an Azimuth of 250 degrees and a dip of -80 degrees. Several faults were encountered during drilling, some with rubble, some with sand and water. Drilling of this hole was very difficult and special muds and cement were used to past through these zones. This hole was drilled successfully to 2403 meters and then abandoned.
Government geological maps and previous diamond drilling on the property suggest that the central part of the TPW Property is underlain predominantly by sericite and silica altered Quartz-Feldspar Porphyry ("QFP") which in turn is intruded by altered syenite. As well, previous drilling has shown that the QFP is bounded to the north and south by Porcupine Group of metasediments. Structurally, it has been proposed that the property is underlain by a synclinal feature similar to that of the Hollinger-McIntyre Mine.
Structurally, diamond drilling has shown that the central part of the property is crossed by an almost E-W trending (splay) fault off the Porcupine-Destor Fault Zone, ("PDFZ"). As well, several drill holes directly north of the QFP contact with the metasediments show that the area is crossed by several parallel to en-echelon splay faults. Deep holes and wedges in the western part of the property within the metasediment package show that several parallel to sub-parallel faults occur to the south of the QFP as well.
Geological and structural interpretation by A.S. Horvath Engineering determined that the property is underlain by an east plunging syncline with the central core being composed by a QFP. The interpretation also determined that the north and south limbs of the syncline are underlain by metasediments and mafic volcanics of the Tisdale Group of Rocks. The contact between the altered central QFP and the bounding metasediments and mafic volcanics were determined to be proximal to E-W trending and 070 degree splay faults from the PDFZ.
Hole TPW-12-67B was drilled at a 250 degree azimuth to compensate for the intense schistosity and was designed to drill at 180 degrees after exiting the deformation zone approximately 400 meters to the south. The 2403 meter hole was designed to intersect all components of the synclinal model. In fact, Hole TPW-12-67B was successful in intercepting all lithologies and structure as interpreted in the Gemcom geo-statistical model by Horvath.
From north to south, the lithologies encountered in TPW-12-67B were as follows: interbedded metasediments with lesser mafic volcanics were intercepted from 37.7m (bedrock) to 218m. This area represents the northern bounded metasediment package directly south of the mafic volcanics. Farther down hole to the south from 218m to 592 meters a package of interbedded metasediments and QFP was intersected. This zone is most likely a transition zone between the northern boundary metasediments and the altered QFP core. From 592 meters to 1869m, the core QFP was intersected with local abundant sericite, silica and syenite alteration. Finally, from 1869m to 2403 meters the southern bounded metasedimentary package of greywacke and argillite were intercepted after exiting the core QFP to the south.
In conclusion, from north to south, the interception of the metasediment package, the core altered QFP and then again the south bounded metasediments clearly shows that TPW-12-67B was successful in identifying the components of the proposed synclinal structure as determined through previous drilling. It should be noted that the grades encountered near surface on the North Limb of the Syncline mimic the grades encountered on the South Limb near surface.
As well, the identification of several intense shears, faults and slips proximal to the contact of the 3 lithological zones shores up the model developed for the TPW Property suggesting the presence of a north limb, central fault and south limb of the proposed synclinal structure.
The mineralization on the south limb strikes east northeast 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 at both the Lakeshore and West Timmins Properties. 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. The NI 43-101 technical report has been completed by MRB Associates of Val-d'Or, Quebec and P & E Mining Consultants of Brampton, Ontario (Press Releases dated December 05, 2011 and June 06, 2012). This fall, Explor expects to release a new NI-43-101 technical report that will significantly increase the known resource.
Hole # From To Interval Gold
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(m) (m) (m) (ft) (g/tonne) (oz/ton)
Hole #67 No Significant Values Hole Abandoned
Hole #67A 122.0 123.0 1.00 3.28 1.465 0.043
311.5 313.5 2.00 6.56 1.288 0.038
328.5 333.5 5.00 16.4 2.632 0.077
427.5 429.0 1.50 4.92 2.346 0.068
Hole #67B 69.0 70.5 1.50 4.92 5.830 0.170
The NI 43-101 technical report is available on SEDAR and on the Company Website. 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 idealised 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.
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 (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H).
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 Company 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 includes: indicated: 212,800 ounces of gold (1,371,000 tonnes at 4.83 g/t Au) and inferred: 814,800 ounces of gold (7,122,000 tonnes at 3.56 g/t Au (Press Release dated June 06, 2012).
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 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.
An map is available at the following address: http://media3.marketwire.com/docs/explor0926.pdf
Contacts:
Christian Dupont, President
888-997-4630 or 819-797-4630
819-797-6050 (FAX)
www.explorresources.com
Investor Relations: Gary Lindsey
Stratastar Marketing Group LLC
720-273-6224