Explor to Begin 3,000 Meter Diamond Drill Program on Properties in New Brunswick
ROUYN-NORANDA, CANADA -- (Marketwire) -- 10/13/11 -- Explor Resources Inc. (TSX VENTURE: EXS) (PINK SHEETS: EXSFF) (FRANKFURT: E1H) is pleased to announce the beginning of a 3,000 meter drilling program on the Moose Brook, Mount Villebon and Gold Brook properties located in north central western New Brunswick, about 80 to 95 kilometers west of the city of Bathurst. The properties are underlain by Early Devonian rhyolites, dacites, sediments and mafic volcanic rocks of the Wapske Formation in the Tobique Group. They are located about 12 kilometres east of the Williams Brook Gold discovery made in 2006 by David O'Neil, a local Bathurst prospector and optioned to Blue Note Mining Inc. in 2006. Blue Note has since staked claims up to the western boundary of the Moose Brook Property.
The 16 claims (256 hectares or 640 acres) of the Moose Brook property were acquired by Explor Resources in 2008. Since this acquisition, ground magnetic and EM surveys have been conducted on the property followed by geological mapping, soil sampling and an IP survey. Four (4) diamond drill holes for a total aggregate length of 1,025m are planned. Diamond drilling has never been done in the area of these claims in the past, although the discovery of the Moose Brook copper occurrence dates back to 1964. The drill program is designed to test an IP anomaly that is coincident with copper, lead, arsenic and zinc anomalies in the soil survey. A stream sediment survey in 2010 also reported significant gold in sediments from streams draining the claims area. Outcropping is scarce in the area which is covered by a layer of glacial debris up to 5 metres in thickness between two steep ridges.
The geologic model being pursued is a hydrothermal system similar to the Sewell Brook deposit west of the Village of Plaster Rock in which high grade zinc was discovered (PR Feb 10, 1997, by Novagold Resources: 'DDH 11 intersected 16.5 feet of massive sulphides grading 36.9 percent combined lead-zinc plus0.061 ounces of gold per ton (2.09 gpt). Sewell Brook is a proximal volcanogenic deposit.'
The Mount Villebon Claim block was acquired by staking 106 mineral claim units (Mapped staked claims) containing approximately 2,332 hectares, or 5,830 acres, on December 12th, 2008. It was acquired to protect the eastern boundary of the Moose Brook Claim block. In 2009, a stream sediment sampling survey was conducted and reconnaissance geological mapping was undertaken. The stream sediment sampling program yielded anomalous gold values in more than 70% of the samples taken, including 6 samples within the Moose Brook claim block. The highest sample value was 195 ppb Au (0.195 gpt). A second analysis on a coarser fraction of the same samples repeated the elevated values but in a way that indicated that the gold was probably in a metallic native form.
The Gold Brook property, containing 43 claim units comprising a total of 946 hectares (2,365 acres) was staked on the east side of the Mount Villebon Claim Block and was then acquired by Explor Resources Inc. In 2010 the Mount Villebon (5,509) and Gold Brook claims (5,683) were explored to discover the source of the gold found in the streams in 2009. A grid system was established and ground EM and Magnetic surveys were conducted. Very little ground geology had been done on this area up to the present. The mapping in 2010 indicated that the claim groups are underlain by a significant fold system with at least 3 phases and possibly a 4th. The folding appears to be gently folded stratigraphy with valleys and hills following synclines and anticlines. At least 2 mafic volcanic 'vents' are suspected to have been found in the valleys (troughs) and there appears to be a very large layer of mafic volcanic flow material mainly in the valleys (and synclinal troughs) unconformably overlying a multiple deformed underlying folded felsic volcanic system with a basal conglomerate at the interface. The gold in streams seems to occur in streams that have into the basal felsic units cut by erosion. An IP survey performed on selected lines has discovered a moderately strong anomaly that appears to be from a deep-seated blind source beneath the basalt flow layer.
A 1,775 m diamond drilling program intended to test the geological aspects of the Mount Villebon and Gold Brook properties, but primarily the deep blind anomalies, is planned.
Chris Dupont, P.Eng is the qualified persons responsible for the information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the USA Pink Sheet (EXSFF) and on the Frankfurt Stock Exchange (E1H).
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 primarily 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.
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.
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.
Contacts:
Christian Dupont, President
800-388-8668 or 819-797-4630
819-797-6050 (FAX)
Investor Relations: Gary Lindsey
Stratastar Marketing Group LLC
720-273-6224
www.explorresources.com
