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Post by Franko10 ™ on Sept 11, 2004 14:08:40 GMT -5
Explor Resources Inc.: Information Update
09:14 EST Wednesday, March 17, 2004
LA RONGE, SASKATCHEWAN--Following its recent restructuring, Explor Resources Inc., previously named Odaat Inc., wishes to present an information update on its mining properties and its management team before the launching of the next diamond drill program scheduled for mid-March.
The company currently holds 10 mining properties in the province of Saskatchewan. The following is a brief description of its principal property, Wedge Lake. This property hosts numerous gold showings, of which 4 are more significant.
- Twin Zone, 675,000 tonnes grading 5.1 g/T Au (0.15 oz/t) (resources estimate calculated by R. Netolitzky of Taiga Consultants in 1986). According to the current standards set out by national instrument 43-101, the calculated grades and tonnages would be classified as "inferred mineral resources". The mineralized zones remain open on strike and to depth and span average widths of 2.4 m (7.9') and 4.6 m (15.1 ft) to a drill tested depth of 175 m (574').
- T-6, during the last drill program (1983), drill hole H-4 intersected a gold zone grading 14.1 g/T Au over 26.6 m (0.41 oz/t over 87').
- T-12, a zone grading 24.8 g/T Au (0.73 oz/t)(channel sampling) over a width of 1.8 m (5.9'), exposed on surface over a strike length of 46 m (150 ft).
- T-20, a surface occurrence, where a 1.5 m (4.9') wide quartz vein grading 7.5 g/T (0.22 oz/t)(channel sampling) in gold was exposed over a length of 36 m (118').
In addition, a gold in soils geochemical anomaly has been outlined in the area lying between Zones T-6 and Twin. Spanning a strike length of 1 km, this area has never been drill tested.
The company holds 9 additional properties. The following is a brief review of the best results on 6 of these:
- Nistoassini: Drill hole # 1, 2.79% Cu, 1.5 g/T Au and 6.8 g/T Ag over 7.4 m (24.2').
- Devil's Lakes: SW Zone, 15 .0 g/T Au over 2 metres (0.44 oz/t over 6.6') in drilling. Pit Zone, 15.6 g/T Au over 0.4 m (0.46 oz/t over 1.3') in drilling.
- Scriver Lake: drill hole HOR-1, 3.7 g/T Au/3m (0.11 oz/t/9.8') and 1.9 g/ Au/3.5 m (0.06 oz/t/11.5').
- Jepson Lakes: drill hole 95-03, 4.4 g/T Au/1.0 m (0.13 oz/t/3.3').
- Gem Zone: drill hole LN86-03, 27.1 g/T Au/0.6 m (0.8 oz/t/2.0').
- Westside: drill hole 95-4, 7.8 g/T Au/0.65 m (0.23 oz/t/2.1')
Explor Resource's initial management group, Randy and Duane Studer, respectively president and secretary-treasurer, has recently been joined by a group of individuals with extensive experience in the mining business. Luc Lamarche, with 20 years of experience as a geologist with involvement in many public mining companies has joined the group as vice-president exploration. Anne Slivitski president of Maude Lake Explorations and Robert Ayotte president of Normabec Resources have also joined the company.
On behalf of the Board,
Explor Resources INC.
Randy T. Studer, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Explor Resources Inc.
Randy T. Studer
President and CEO
(306) 425-3350
(306) 425-2535 (FAX)
explor@sasktel.net
The TSX Venture Exchange has neither approved or disapproved of the information contained herein.
09:14 EST Wednesday, March 17, 2004
LA RONGE, SASKATCHEWAN--Following its recent restructuring, Explor Resources Inc., previously named Odaat Inc., wishes to present an information update on its mining properties and its management team before the launching of the next diamond drill program scheduled for mid-March.
The company currently holds 10 mining properties in the province of Saskatchewan. The following is a brief description of its principal property, Wedge Lake. This property hosts numerous gold showings, of which 4 are more significant.
- Twin Zone, 675,000 tonnes grading 5.1 g/T Au (0.15 oz/t) (resources estimate calculated by R. Netolitzky of Taiga Consultants in 1986). According to the current standards set out by national instrument 43-101, the calculated grades and tonnages would be classified as "inferred mineral resources". The mineralized zones remain open on strike and to depth and span average widths of 2.4 m (7.9') and 4.6 m (15.1 ft) to a drill tested depth of 175 m (574').
- T-6, during the last drill program (1983), drill hole H-4 intersected a gold zone grading 14.1 g/T Au over 26.6 m (0.41 oz/t over 87').
- T-12, a zone grading 24.8 g/T Au (0.73 oz/t)(channel sampling) over a width of 1.8 m (5.9'), exposed on surface over a strike length of 46 m (150 ft).
- T-20, a surface occurrence, where a 1.5 m (4.9') wide quartz vein grading 7.5 g/T (0.22 oz/t)(channel sampling) in gold was exposed over a length of 36 m (118').
In addition, a gold in soils geochemical anomaly has been outlined in the area lying between Zones T-6 and Twin. Spanning a strike length of 1 km, this area has never been drill tested.
The company holds 9 additional properties. The following is a brief review of the best results on 6 of these:
- Nistoassini: Drill hole # 1, 2.79% Cu, 1.5 g/T Au and 6.8 g/T Ag over 7.4 m (24.2').
- Devil's Lakes: SW Zone, 15 .0 g/T Au over 2 metres (0.44 oz/t over 6.6') in drilling. Pit Zone, 15.6 g/T Au over 0.4 m (0.46 oz/t over 1.3') in drilling.
- Scriver Lake: drill hole HOR-1, 3.7 g/T Au/3m (0.11 oz/t/9.8') and 1.9 g/ Au/3.5 m (0.06 oz/t/11.5').
- Jepson Lakes: drill hole 95-03, 4.4 g/T Au/1.0 m (0.13 oz/t/3.3').
- Gem Zone: drill hole LN86-03, 27.1 g/T Au/0.6 m (0.8 oz/t/2.0').
- Westside: drill hole 95-4, 7.8 g/T Au/0.65 m (0.23 oz/t/2.1')
Explor Resource's initial management group, Randy and Duane Studer, respectively president and secretary-treasurer, has recently been joined by a group of individuals with extensive experience in the mining business. Luc Lamarche, with 20 years of experience as a geologist with involvement in many public mining companies has joined the group as vice-president exploration. Anne Slivitski president of Maude Lake Explorations and Robert Ayotte president of Normabec Resources have also joined the company.
On behalf of the Board,
Explor Resources INC.
Randy T. Studer, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Explor Resources Inc.
Randy T. Studer
President and CEO
(306) 425-3350
(306) 425-2535 (FAX)
explor@sasktel.net
The TSX Venture Exchange has neither approved or disapproved of the information contained herein.
