Explor Completes Kidd Township Drill Program Analysis
ROUYN-NORANDA, CANADA--(May 1, 2012) -
Explor Resources Inc. (TSX VENTURE:EXS)(PINKSHEETS:EXSFF)(FRANKFURT:E1H)(BERLIN:E1H) is pleased to
announce the completion of the analysis of the 2011 diamond drill program on the Kidd Township Property.
Nine, (9) diamond drill holes were completed for a total of 4,814 meters of diamond drilling on its 100%
owned Kidd Township Property. Explor focused on a 500 hectare portion of ground located approximately
2.0 kilometers west of the Kidd Creek open pit. The property is located in the Kidd Township in the
Porcupine Mining division, district of Cochrane, Province of Ontario.
The Kidd Township Property is
located in the south central part of Kidd Township to the west, south, south-west and north of the Kidd
Creek mine site. The property is approximately 20 km north of the city of Timmins, Ontario. Excellent
access is provided by Hwy 655. The claims have been acquired over a 3 year period. (Feb 19, 2008, May 5,
2008 and September 10, 2009, March 24, 2010), Explor's land position in the area is 2,466 hectares. The
most obvious topographical feature in the area is the Kidd Creek open pit approximately 1.6 km to the
east of the property as well as a series of sand eskers and swamps. The property is located in a
greenstone belt composed mainly of sequences of meta-volcanic rocks cut by faults and deformation zones
that lie in a NW-SE direction. Also there are many suites of mafic volcanic rocks.
The analysis of
the current drill results, the MEGATEM survey, the VTEM survey and previous historical drill results has
confirmed that a major fault structure crosses the Northeastern corner of claim block 4211459. This
fault structure and Explor's claims are shown on the attached plan. The claims are outlined in white and
black. Both the Kidd Creek and the Chance deposits are located within this fault structure that crossed
the Northern part of the claim block. The drill holes completed by Explor did not detect alteration
patterns indicating proximity to hydrothermal venting, however Explor did core sulfide rich flow
breccias and coarse pyroclastics, which are indicative of a volcanic mound and nearby venting,
favourable area for the deposition of massive sulfides.
Geological modelling for the deposition of
marine volcanogenic massive sulphides proposes that hydrothermal venting usually occurs along a deeply
rooted fault "growth fault". Hydrothermal venting and sulphide deposition can occur in multiple
locations over many kilometres along such faults, resulting in a "string" of massive sulphide deposits
(i.e. Noranda and Mattagami mining camps). Assuming that the Kidd Creek and Chance deposits lie along
such a growth fault, the projection of this fault crosses the northern portion of claim 4211459 in the
area of VTEM anomalies C1 and C2, as well as the isolated MEGATEM anomaly which lies nestled in
Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "We
are extremely excited about the confirmation of the major fault structure and our proposed program on
our 100% owned Kidd Township Property. VMS deposits tend to cluster in districts (or camps) and locally
within districts. The average massive sulphide camp in Canada has about 9 deposits, but ranges from 4
(Manitowage) to 21 (Noranda), however an individual deposit may consist of a number of closely
associated lenses ranging from several thousand to several million tons. The largest deposits in this
group may be in excess of 100 million tons (example: Kidd Creek, Bathurst No.12)"
A proposed 4,000
meter diamond drill program would test an area 800 meters in length and 300 meters in width that has not
yet been drill tested. The area to be tested is approximately 1.0 km to the west of the Chance
(Zn-Pb-Ag) deposit as shown on the attached claim map. The area to be drilled appears to be located on
the same synvolcanic collapsed structure as the Kidd Mine and the Chance Deposit. The EM targets occur
along magnetic boundaries suggestive of a rhyolite/basalt contact.
The Kidd Creek Mine located to
the east of the property is known for its Cu-Zn-Pb-Ag production. The Kidd Creek Mine has produced over
130,000,000 tonnes of base metal ore since it started production in 1966. This acquisition is being made
because of Explor's belief in the cluster effect of VMS deposits. The presence of mafic and felsic rocks
with anomalous zinc and copper make this an exploration property of merit.
Chris Dupont P.Eng is the
qualified person responsible for the information contained in this release.
About Explor Resources
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 was continued under the laws of
Alberta in 1986 and has had its main office in Quebec since 2006.
Explor Resources Inc. is a publicly
listed company trading on the TSX Venture (EXS), on the USA Pink Sheet (EXSFF) and on the Frankfurt and
Berlin Stock Exchanges (E1H).
A map is available on the Marketwire Website at the following address:
This press release was prepared by
Explor Resources Inc.
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.
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.
information please contact:
Christian Dupont, President
Tel: 888-997-4630 or 819-797-4630
Investor Relations: Gary Lindsey
Marketing Group LLC