Explor Increases East Bay Property
April 20 2018 - 3:50PM
Explor Resources Inc. (“Explor” or “the
Corporation”)
(TSX-V:EXS)(OTCQB:EXSFF)(FSE:E1H1)(BE:E1H1)
is
pleased to announce the acquisition of 4 mineral claims located in
the Hébécourt Township, in the Lac Duparquet and Rapide-Danseur
Municipalities, in the Rouyn-Noranda Mining Division, Province of
Quebec for a total of 149.86 hectares. These claims are contiguous
to the East Bay Property. Explor will pay $2,000 cash and issue
100,000 shares to acquire a 100% interest in the additional East
Bay claims. The Optionor has retained a 2% NSR in these claims.
This program is in line with the Corporation’s
strategy of conducting exploration 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 80 million oz of gold. The Corporation now owns 11,548.06 ha
of land along this section of the PDFZ. Explor’s East Bay property
is contiguous and wraps around the western portion of the former
Clifton Star’s Duparquet property. The East Bay property is
approximately 0.5 km west of the former Consolidated Beattie and
Donchester Gold Mines.The former Consolidated Beattie and
Donchester Gold Mines, produced over 1.0 million oz of gold between
1933 and 1956. The former Clifton Star in a previous press release
announced (Press Release dated April 09, 2014) significant proven
and probable reserves of 1,895,530 oz at 1.50 g/t Au and a measured
and indicated resource of 1,127,972 oz at 1.48 g/t Au on their
property. The East Bay Gold Property is located to the west of
the Consolidated Beattie and Donchester Gold Property and
contiguous to the ground on which the former Clifton Star Resources
Inc. intersected wide width of gold mineralization (Press Releases
dated June 19 and June 6, 2013).
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.
For further information please contact:
Christian Dupont, PresidentTel: 888-997-4630 or
819-797-4630Fax: 819-797-1870Website:
www.explorresources.comEmail:
info@explorresources.com
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