Explor Resources Inc. is pleased to announce the acquisition of 3 patented mining claims located in the Ogden Township in Ontario. The claims added to the Timmins Porcupine West Project are located in the famous Timmins-Porcupine mining camp within proximity to past and existing producers.
The Timmins Porcupine West Project will increase in size to consist of 185 unpatented mining units and 3 patented mining claims located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 3,200 hectares. The highway 101 bisects the property and provides access from the city of Timmins located 13 km to the east.
Explor Resources inc. will pay upon regulatory approval a total of $20,000 CDN and issue 200,000 common shares over a 1 year period to acquire a 100% interest in the additional 3 patented mining claims. The Optionors have retained a 2% NSR in the property.
The acquired property has been previously trenched and a quartz vein has been identified with alteration features and favourable mineralization. Several airborne geophysical anomalies are located on the property and have yet to be evaluated.
The most significant deposits in Timmins are spatially associated with porphyry units that are in proximity to the Porcupine Destor Fault. The deposits appear to be also associated with splay faults that trend off and to the North of the Porcupine Destor fault inside an interpreted splay fault corridor.
The Timmins Porcupine West Project has as a Target Model “The Hollinger-McIntyre-Coniaurum System.” The Hollinger-McIntyre-Coniaurum (HMC) System has produced a total of over 30 million oz of gold is spatially associated with the Pearl Lake Porphyry. The high-grade gold bearing quartz veins which hosted the bulk of the gold at the HMC occurred in the adjacent mafic volcanics, located outboard from the porphyry itself.
Chris Dupont P.Eng is the qualified person responsible for the information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS).
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.