Owner
Post by Franko10 ™ on Nov 7, 2006 17:47:41 GMT -5
Explor Resources Inc.: Acquisition of the Launay Property
16:05 EDT Monday, September 25, 2006
ROUYN-NORANDA, QUEBEC--(CCNMatthews - Sept. 25, 2006) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the acquisition five Mineral Claims situated in Launay Township in the Rouyn-Noranda mining district, province of Quebec.
THE AGREEMENT
Explor Resources inc. will pay $30,000 CDN and issue 250,000 common shares over a 3 year period for an Option to acquire 100% interest in the Launay property. The Optionees have retained a 2% NSR in the property. This acquisition is subject to regulatory approval.
THE PROPERTY
The Launay Property is located in the Northern part of Launay township approximately 6 km from the town of Launay, Quebec. Excellent access is provided by a logging road that connects the Launay-Guyenne road to the property approximately 4.5 km from the town of Launay. The property consists of 5 mining claims covering an area of approximately 212.8 hectares.
The most obvious topographical feature in the area is lake Doyon approximately 1.3 km to the west of the property as well as gently rolling hills consisting of outcrops and eskers. The property was first discovered by prospector Thomas Gauthier in 1938 with grab samples assaying from 1 to 13 grams per tonne. The mineralization was has hosted within a quartz-tourmaline-carbonate vein within a seritized shear zone and faults cutting quartz feldspar porphyries and intermediate to mafic volcanics. Between 1966 and today limited line cutting magnetic, Electromagnetic surveys as well as limited I.P. surface mapping and prospecting has been completed by several companies.
Mineralization
The showing consists of quartz-carbonate veins and veinlets cutting quartz-feldspar porphyry dykes in contact between diorite and volcanic rocks that are intensely altered to sericite-carbonate schist. The mineralization consists of cubic disseminated pyrite in selvage of quartz-carbonate-tourmaline veins.
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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Explor Resources Inc.
Christian Dupont
President
800-388-8668
16:05 EDT Monday, September 25, 2006
ROUYN-NORANDA, QUEBEC--(CCNMatthews - Sept. 25, 2006) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the acquisition five Mineral Claims situated in Launay Township in the Rouyn-Noranda mining district, province of Quebec.
THE AGREEMENT
Explor Resources inc. will pay $30,000 CDN and issue 250,000 common shares over a 3 year period for an Option to acquire 100% interest in the Launay property. The Optionees have retained a 2% NSR in the property. This acquisition is subject to regulatory approval.
THE PROPERTY
The Launay Property is located in the Northern part of Launay township approximately 6 km from the town of Launay, Quebec. Excellent access is provided by a logging road that connects the Launay-Guyenne road to the property approximately 4.5 km from the town of Launay. The property consists of 5 mining claims covering an area of approximately 212.8 hectares.
The most obvious topographical feature in the area is lake Doyon approximately 1.3 km to the west of the property as well as gently rolling hills consisting of outcrops and eskers. The property was first discovered by prospector Thomas Gauthier in 1938 with grab samples assaying from 1 to 13 grams per tonne. The mineralization was has hosted within a quartz-tourmaline-carbonate vein within a seritized shear zone and faults cutting quartz feldspar porphyries and intermediate to mafic volcanics. Between 1966 and today limited line cutting magnetic, Electromagnetic surveys as well as limited I.P. surface mapping and prospecting has been completed by several companies.
Mineralization
The showing consists of quartz-carbonate veins and veinlets cutting quartz-feldspar porphyry dykes in contact between diorite and volcanic rocks that are intensely altered to sericite-carbonate schist. The mineralization consists of cubic disseminated pyrite in selvage of quartz-carbonate-tourmaline veins.
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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Explor Resources Inc.
Christian Dupont
President
800-388-8668
