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: Increases Land Position-Carnegie Area
| March 20, 2009 |
| Explor Increases Land Position-Carnegie Area |
| ROUYN-NORANDA, CANADA--(Marketwire - March 20, 2009) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the acquisition of one patented claim (4 units) situated in the Prosser Township in the Porcupine mining division, district of Cochrane, province of Ontario. Explor Resources inc., will pay $6,000 CDN and issue 60,000 common shares for an Option to acquire 100% interest in the additional Prosser Township mineral claim. The Optionees have retained a 2.0% NSR in the property. This acquisition is subject to regulatory approval. The Prosser Property is located to the North East of the Kidd Creek mine site. The most obvious topographical feature in the area is the Kidd Creek open pit approximately 12 km to the south east of the property. The property is approximately 20 km north of the city of Timmins, Ontario with excellent access provided by Hwy 655. The additional 4 units are in proximity to previously announced property acquisition in Carnegie Township, strategically located and cover an area of approximately 64.8 hectares. This will increase Explor's land position in the Carnegie area to 1056.8 hectares. The property is located in a greenstone belt composed mainly of sequences of meta-volcanic rocks cut by faults and deformation zones. A series of untested megatem airborne anomalies have been observed on the property. The Kidd Creek Mine located to the south west of the property is known for Cu-Zn-Pb-Ag production. The Kidd Creek mine has produced 130,000,000 tonnes of base metal ore since it started production in 1966. Explor plans on conducting a two phase exploration program. Phase I is designed to better determine the location of the EM targets via magnetic and max-min geophysics. Phase II will consist of diamond drilling the identified target or targets. Chris Dupont P.Eng is the qualified person responsible for the information contained in 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 is headquartered in Quebec and was incorporated in Alberta in 1986. |
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