Explor Resources (EXS-V) March 22, '16 is pleased to announce the commencement of a Diamond Drilling Program on the Ogden Gold Property. The property is located 12 kilometers southwest of the city of Timmins, Ontario. The property consist of 8 mining claims (70 mineral claim units) covering 1,120 hectares situated in the Porcupine mining division, district of Cochrane, in the Ogden Township, Ontario. These claims are contiguous and to the east of the Timmins Porcupine West Property as shown on the attached map. Access to the property is via an all-weather road from Highway 101 to the west of the property.
The exploration program will consist of 3,000 meters of diamond drilling. This diamond drill program will concentrate on geophysical targets as identified by Explor's recent ground geophysical survey and IP work conducted by Inmet and Knick Exploration. Analysis of existing geophysical data along with Explor's recently completed work has revealed a major geological structure similar to the one located on Explor's Timmins Porcupine West Gold Property. It would appear to be a continuation of the Bristol Porphyry on the other side of the Mattagami River fault. Previous reconnaissance exploration work by Inmet Mines defined several induced polarization anomalies (1997) and these are incorporated with recent I.P. survey data as the surveys were completed by the same service company and all original data has been acquired by Explor Resources.
The property has been previously explored by Hollinger Mines, Tex-Sol Exploration, Inmet Mining Corporation, Amax Mineral Exploration, Noranda Exploration and Knick Exploration. The majority of the holes drilled by previous operators were less than 100 meters in length. Historically on the Ogden Property, the only hole that hit significant mineralization was a diamond drill hole by Tex-Sol Exploration in 1965 which returned 6.0 g/t Au over 9.1 m at a shallow depth. On the TPW Gold Property significant mineralization was intersected below 300 meters of vertical depth requiring drill holes of 500 to 600 m in length.
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 Ogden Property is contiguous on the east side of the Timmins Porcupine West Property. 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.
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For further information please contact:
Christian Dupont
President
Tel: 888-997-4630 or 819-797-4630
Fax: 819-797-6050
Website: www.explorresources.com
Email: info@explorresources.com |
