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Sector NewswireTM Sector: Mining - Metals and Minerals :
News Release - September 21, 2012 04:05 ET - retransmission
Explor Resources Assays Pending, Building on 7.65 g/tonne Au Over 33.2 Meters, Updated Resource Calculation Expected by Year End
NEW YORK, NY, September 21, 2012 /Sector Newswire/ - Explor Resources Inc. (TSX-V: EXS) (OTC: EXSFF) (Frankfurt: E1H) is the subject of a Mining MarketWatch Journal Review offering insight and opportunity afforded investors as EXS.V has proven its exploration model at its Timmins Porcupine West (TPW) gold deposit in the prolific Abitibi Greenstone belt of Ontario and is building ounces. The current resource at the TWP is 212,800 oz gold Indicated at 4.83 g/t + 814,800 oz gold Inferred at 3.56 g/t and that is expected to rise dramatically over the near-term; by the end of 2012 Mining MarketWatch Journal forecasts the resource to be advanced to ~1.5 million ounces gold, and by the end of 2013 advanced to ~3 million ounces gold -- that would represent only 10% of the deposits potential.
The full Mining Journal review may be found at http://www.miningmarketwatch.net/exs.htm online.
Explor Resources has a market cap
under $25 million, and is poised for considerable share price appreciation as
the reality of the accomplishment underway is appreciated by the market. The
exploration model EXS.V has developed for the deposit is named after the nearby
Hollinger and McIntyre gold mines that have a similar porphyry and produced 30
million ounces of gold. The porphyry is the heat engine that pushes the gold
into weak adjacent (sedimentary and mafic volcanic) rocks -- the bigger the
porphyry the bigger the potential deposit; Explor Resources' TPW porphyry is 5
times bigger than the Hollinger-McIntyre porphyry and all evidence to date has
shown the exploration model to be accurate. The gold mineralization is
concentrated in two mineralized limbs of syncline and so far EXS.V has
concentrated its efforts only on top portion of the south limb, the north limb
is believed to be as equally rich. There is a 2 kilometre long strike length
open on both ends and at depth. Area mines are worked for high-grade gold to
~2,000+ metres, double the depth currently established on the south limb; the
current resource established on the south limb was based on drilling to ~600 m,
and recent drilling not yet incorporated into the resource is proving up high
grades to ~1000 m (i.e. Jan. 31, 2012 release '14.8 g/t gold over 7.8 m', Feb.
23, 2012 release '7.36 g/t gold over 13.5 m', May 15, 2012 release '28.46 g/t
gold over 3.30 m'). In excess of 100,000 m of diamond
drilling has been completed by Explor Resources to date. Recent drill programs
(including, August 21, 2012 "Explor Intersects 7.65 g/tonne
Au Over 33.2 Meters on Timmins Porcupine West") has affirmed the continuity of
mineralization and quality grade from hole to hole with increasing width as EXS.V goes to depth and are very significant in terms of establishing a
potentially large mineable gold resource. The strike length of the gold
mineralization is greater than 2000 meters, with the structure still open on
strike and at depth. A new updated resource calculation is expected to be
prepared for the end of 2012.
The full Mining Journal review may
be found at http://www.miningmarketwatch.net/exs.htm online. This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URLs.
SOURCE: Sector Newswire editorial
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