Rouyn-Noranda, Canada, December 2, 2013 - Explor Resources Inc. ("Explor" or the "Company") (TSX-V: EXS, OTCQX: EXSFD, FSE & BE: E1H1) is pleased to announce the completion of Phase- 1 2013 Exploration Program on the Chester Copper Property. An extensive soil exploration program was carried out on the Chester Property, focusing primarily on the side west of the Clearwater Stream, an area that has not been explored since the late 1950s. The aim was to investigate the possibility of discovering additional near-surface mineralized zones similar to the known copper and VMS zones at Chester, as it has already been confirmed (First Narrows in 2004 and historical drilling 1967-68) that the copper undercounter deposit is in the Main Zone extends an additional 500 to 700 meters + west of the Calculated Resource, as shown on the attached copper soil geochemical survey map.
The 2013 work program included initial exploration work, which is briefly described below:
1) hitting aisles and creating a grid. In total, aisles were hit and connected on 74,7 kilometers;
2) Geological field surveys. The entire grid was drained and mapped in July and August to find outcrops, boulders and mineralization. As needed, river sediment samples were also taken. This should be the search for to serve the ascending sections of the favorable mineral-bearing (or ore-containing) horizons in the west of the known mineralization. The aim of the program was to correlate the underlying rock types with the current knowledge and published maps of the Bathurst mining camp. During the field surveys, a new silicified zone was discovered that coincides with a pronounced lead anode anomaly. Along the strike of this anomaly, clearly visible Clearwater Stream rocks were found on several lines south of the soil anomalies and without Alteration discovered and thus delimited a significant strike length. The identification of this type of rock is of great importance in determining the exploration potential of this property as it hosts the well-known VMS and copper deposit deposits at Chester;
3) Magnetometric and electromagnetic VLF ground surveys were performed along the grid in the subsequent interpretation of geological and geochemical results should be used as mapping tools;
4) Samples of horizons "A" and "B" were taken along the newly created grid. No previous soil sampling records were found in the older records of the concession site except QPX soil surveys from before 8 to 10 years.
Soil surveys were ultimately carried out in two phases, with soil samples taken in 1993 in the first phase. The samples were crushed to mesh size of -80 Mesh (a standard mesh size in Bathurst Mining Camp) and analyzed by Activation Laboratories Limited of Ancaster, Ontario, using the ICP method. Copper, lead and zinc anomalies were distinguished. In October, additional 1364 samples were taken along the grid and compass lines to complement sampling from the 1 phase and further detail the anomalies identified in the first phase. During the field surveys, a total of 19 river sediment samples and 10 rock samples were also taken and subsequently analyzed.
A quick check of the geochemical data indicates that there is a relatively small geochemical soil anomaly in the area where approximately three 1958 or 1959 holes were drilled. Three (3) additional copper anomalies were demarcated, as shown in the attached copper geochemical soil survey map. In the northwestern part of the grid, there is a copper anomaly in the soil and in local seasonal drainage rivers. This anomaly is located near the grid center on a hill. From this hill, it extends west along a slope sloping down to the west and then runs to the southeast, also down the slope, and to the east of the drainage rivers. In the east, it coincides with a lead and a zinc anomaly. The lead anomaly, with lead being the least mobile of the three metals, is following a southeast trend west to southeast on a strike length of more than 700 meters, crossing 5 gridlines. This is a possible strike length of up to 900 meters from northwest to southeast, but it is also on the lee side of the former glacier, which could extend the strike length further. At the western end of the anomaly, the drainage flows for a grid line are downhill to the west-sloping slope, but in the middle are the drainage rivers and the lee side of the glacier to the southeast. The soil anomaly is also related to an anomaly that was demarcated during ground surveys with the magnetometer and VLF ground surveys. The favorable volcanic rocks on the south side and the basement mountains in the north indicate an interpreted substantial thrusting. At the center of the southeastern zone of the grid is another coincidental copper and lead anomaly. It is about the same height above sea level as the main anomaly mentioned above; however, there is a valley between these two anomalies and the second anomaly is slightly on the windward side of the former glacier. In the area of this anomaly, favorable alterations of the existing rock were recorded in the context of field surveys. Here, several historic shallow drill holes have also been drilled between 1956 and 1959 for which arbitrary copper grades have been reported. More soil samples have been taken in this area but their results are not yet available. Even without the other soil data, however, there is a significant untested soil anomaly, a lack of outcrops, and a potentially favorable geological environment that justifies the sinking of a few test wells.
Explor intends to conduct further ground-based geophysics work, including maximum and minimum maximum and minimum values for the major lead and copper anomalies, as well as a few test lines for other soil anomalies and possibly gravitational measurements at the best max / min Anomalies will exist. The Phase 1 exploration program has delineated numerous near-surface and deep exploration targets at Chester's prospects west of the Clearwater Stream. This is an area where no exploration work has been conducted using basic techniques since around 1959. Under this program, soil sampling and advanced geochemical soil analysis techniques have been proven to delineate target areas in favorable geological environments. These target areas can be further investigated and even narrowed down by the aforementioned geophysical program followed by diamond drilling.
Explor also announces that it has appointed Venture Liquidity Providers Inc., subject to regulatory approval, to provide market-making services to ensure proper trading of its common stock. The Marketmaking Services will be provided by VLP in accordance with the applicable policies of the TSX Venture Exchange and other applicable approved brokerage laws, WD Latimer Co. Ltd. For the provision of these services, Explor has agreed to pay VLP for a period of 12 months 5.000 C $ per month. After a period of three months, the agreement may be terminated at any time by the Company or VLP. Explor and VLP operate on a purely business basis and VLP currently has no direct or indirect interest in the company or its securities. The finances and stock required for the marketmaking services will be provided by WD Latimer. The fee paid by Explor to VLP applies solely to the services. VLP is a Toronto-based specialist consultancy providing services to issuers listed on the TSX Venture Exchange.
Chris Dupont (P.Eng) is the Qualified Person responsible for the information in this news release.
Explor Resources Inc. is a publicly traded company whose shares are traded on the TSX Venture (EXS), the OTCQX market (EXSFF) and the Frankfurt and Berlin Stock Exchanges (E1H1).
This news release has been prepared by Explor. The TSX Venture Exchange or its regulatory bodies (referred to in the Articles of Incorporation of TSX Venture Exchange as Regulation Services Providers) have not reviewed this report and are not responsible for its adequacy or accuracy.
About Explor Resources Inc.
Explor Resources Inc. is a Canadian mineral resource company with mineral properties in Ontario, Quebec, Saskatchewan and New Brunswick. Explor is currently concentrating its exploration activities on the greenstone belt Abitibi. The belt covers the two provinces of Ontario and Quebec, with approximately 33% of these in Ontario and 67% in Quebec. Over the past one hundred years, more than 180.000.000 ounces of gold and more than 450.000.000 tonnes of copper-zinc ore have been extracted from the belt.
This document may contain forward-looking statements about the holdings Explor operates or the environment in which it operates. Such statements are based on operations, estimates, projections and plans. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or predict and may not be within Explor's control. A number of important factors could cause actual results to differ materially from those expressed in forward-looking statements, including those described in other publications. In addition, such statements only relate to the time at which they are made. One should therefore not rely on such forward-looking statements. Explor has no intention or obligation to update or revise such forward-looking statements as a result of new information, future events or otherwise, except as required by applicable securities laws.
For more information, please contact: Investor Relations:
Christian Dupont, President Gary Lindsey, USA: Tel: + 1-720-273-6224
Phone: + 1 888-997-4630 or
+ 1 819-797-4630
Fax: +1 819-797-6050 Michael Adams, Europe: E-Mail: [email protected]
Website: www.explorresources.com
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