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Exploring for gold and base metals in the Abitibi Greenstone Belt
Abitibi has produced more than 180 M ounces of gold and more than 450 Mt of Cu-Zn ore to date
Message: Explor Starts Drilling PG 101 Gold Property
| February 17, 2009 |
| Explor Starts Drilling PG 101 Gold Property |
| ROUYN-NORANDA, CANADA--(Marketwire - Feb. 17, 2009) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce that it has completed its assessment of the historic data and will start drilling the property today. The Drilling program will consist of systematically testing the eleven (11) IP anomalies that were determined in a historic IP survey in 1988. The property consists of a 101 mineral claims package totalling 1626 hectares, situated in Holloway and Marriott Townships in the Larder Lake Mining Division, District of Cochrane, Province of Ontario, known as the PG 101 Gold Property. The PG 101 Property is adjacent to the eastern boundary of St. Andrew Goldfield's former producing Holt Mine Property and only a few kilometers east of their Holloway Mine property. Historic production (1988-2004) from the Holt (McDermott) Mine totals 8.18 millions tons at a grade of 0.162 opt Au(1) (7.42 million tonnes @ 5.6 gpt Au). Measured and indicated resources reported in 2006 for the Holt Mine are 2.99 million tonnes at a grade of 7.3 gpt Au(2). Production at the Holloway Mine to 2004 is reported as 4.73 million tons at a grade of 0.166 opt Au(1) (4.29 million tonnes @ 5.7gpt Au). Measured and indicated resources reported in 2006 for the Holloway Mine are 1.04 million tonnes at a grade of 7.8 gpt Au(2). Several other smaller deposits in the Harker-Holloway gold camp and in the vicinity of the PG 101 Property include the Buffonta, Mattawasaga and East zone deposits. The PG 101 Property is underlain by the same succession of mafic volcanic flows, breccias, and tuffs that host the known gold deposits of the area. These volcanic rocks are cut by ENE trending faults that splay from the Destor-Porcupine fault zone ("DPFZ"). The DPFZ is a major deformation zone that crosses along the north boundary of the PG 101 claims in Marriott Township. Proximity to the DPFZ, the Kirkland-Larder Lake Break and other similar regional faults are characteristic of significant gold deposits of the Eastern Abitibi greenstone belt. Chris Dupont P.Eng is the qualified person responsible for the information contained in this release. Explor invites its investors to visit our booth #2122 at the Investor Exchange of the PDAC 2009 located in the south building of the Metro Toronto Convention Center from March 01 to March 04, 2009. 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 is headquartered in Quebec and was incorporated in Alberta in 1986. |
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