Explor Adds to Nelligan Property in Val-d'Or
News Desk
Tuesday March 13, 5:10 pm ET
ROUYN-NORANDA, QUEBEC--(MARKET WIRE)--Mar 13, 2007 -- Explor Resources
Inc. (CDNX:EXS.V - News) today announced the acquisition of sixteen
(16) Mineral Claims situated in Nelligan Township in the Val-d'Or
mining district, province of Quebec, contiguous with the Company's
existing lands.
Explor Resources inc., will pay $10,000 CDN and issue 300,000 common
shares for an option to acquire 100% interest in the Nelligan
Extension Property. The Optionee has retained a 2.0% NSR in the
property. The acquisition is subject to regulatory approval.
Covering an area of approximately 863 hectares, the Nelligan Extension
Property is located in the eastern-central part of Nelligan Township
approximately 20 km west of the town of Desmaraisville, Quebec.
Excellent access is provided by a logging road that connects the
Senneterre-Chibougamau highway to the property approximately 2.0 km
off the highway. The property is contiguous and lies to the east of
Explor's existing six claims on which the Company is evaluating a
nickel showing.
The Nelligan Extension Property was acquired because it is contiguous
and to the west of the Murgor Nelligan Discovery where recent channel
samples across a shear zone have yielded 124 g/t Au over 2.53 meters
including a 53 cm section grading 582 g/t Au (Murgor press release
dated December 14, 2006). Exploration is ongoing on the Murgor
Nelligan Property.
The property is located in a greenstone belt composed mainly of
sequences of meta-volcanic and meta sedimentary rocks cut by faults
and deformation zones that lie in a NE-SW direction. The Bachelor Lake
Mining Camp is located nearby and is known for its precious metal and
polymetallic potential. This property is located directly to the west
of the Bachelor Lake Mine and Mill and the former Conigas Mine. A
review of existing data revealed a strong linear Magnetic geophysical
feature with an east-northeast trend.
Explor plans on conducting a two phase exploration program. Phase I is
designed to better determine the location of the structural targets
via magnetic and VLF geophysics. Phase II will consist of diamond
drilling the identified target or targets.
About Explor Resources Inc.
Explor Resources Inc. is a Canadian-based natural resources company
with mineral holdings in Ontario, Quebec and Saskatchewan. 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 over the last 100 years. The
Company is headquartered in Quebec and was incorporated in Alberta in
1986.
Chris Dupont P.Eng is the qualified person for Explor Resources Inc.
Explor Resources Inc. is a public listed company trading on the TSX
Venture (EXS).
This press release was prepared by Explor Resources inc.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
Contact:
Contacts:
Explor Resources Inc.
Christian Dupont
President
800-388-8668 or 819-797-4630
CHF Investor Relations
Jan Moir
Account Manager
416-868-1079 x 237
j...@chfir.com
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Source: Explor Resources Inc.