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Last C$0.08 CAD
Change Today +0.005 / 6.67%
Volume 29.4K
As of 3:54 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

explor resources inc (EXS) Snapshot

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explor resources inc (EXS) Details

Explor Resources Inc. explores for and develops mineral properties in Canada. The company primarily explores for gold and base metal properties in Ontario, Quebec, New Brunswick, and Saskatchewan. It is focused on exploration in the Abitibi Greenstone Belt of Ontario and Quebec, and Base metal in New Brunswick. The company was formerly known as Odaat Inc. and changed its name to Explor Resources Inc. in January 2004. Explor Resources Inc. was incorporated in 1986 and is headquartered in Rouyn-Noranda, Canada.

Founded in 1986

explor resources inc (EXS) Top Compensated Officers

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Chief Financial Officer
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Compensation as of Fiscal Year 2014.

explor resources inc (EXS) Key Developments

Explor Resources Inc. Acquires Mineral Claim in the Porcupine Mining Division, District of Cochrane, Kidd Township, Ontario

Explor Resources Inc. announced the acquisition of 1 mineral claim (4 units) totaling 65 hectares situated in the Porcupine Mining division, District of Cochrane, Kidd Township, Ontario. This additional claim is south of the Glencore Kidd Creek Mine and contiguous to the existing Explor claims. Explor Resources Inc. will pay $5,000 and issue 200,000 common shares at signature for an Option to acquire a 100% interest in the additional Kidd Township claim. The Optionor has retained a 2.0% NSR in the property. This acquisition is subject to the approval of the TSX Venture Exchange. The Corporation’s Kidd Township Group of Properties are located to the west, south and south east of the Glencore Kidd Creek Mine as shown on the attachment, approximately 20 km north of Timmins, Ontario. These additional 4 units are contiguous to the Kidd Township property, and south of the Glencore Kidd Creek Mine. This acquisition increases Explor’s land position in the area to 2,595 hectares. The most obvious topographical feature in the area is the Glencore Kidd Creek open pit mine, approximately 2.0 km to the north of the property. The property is located in a Greenstone Belt composed mainly of sequences of Meta-Volcanic rocks cut by faults and deformation zones that lie in a NW-SE direction. There are many suites of Mafic Volcanic rocks as well. Excellent access to the property is provided by Hwy 655.

Explor Resources Inc. Appoints Gerhard Merkel to the Board of Directors

Explor Resources Inc. announced the appointment of Mr. Gerhard Merkel to the Board of Directors effective February 18, 2015. Mr. Merkel has extensive experience as a CEO and CFO. From 2005 to present, he has been CFO and COO of CGM Import-Export Ltd. (Portugal) Import/Export. Mr. Merkel will act as an independent director and represent Explor to its European shareholders and as well act as an advisor to the President and CEO.

Explor Resources Inc. Announces Completion of Phase II of Exploration Program on Launay Nickel Project

Explor Resources Inc. announced the completion of Phase II of its exploration program on the Launay Nickel Project. The Launay Nickel Project is comprised of 2,249.4 hectares and is located 20 kilometers west of Amos, Quebec and 45 kilometers northwest of Val-d'Or, Quebec. Phase I consisted of geophysics that revealed a large magnetic structure on the property. This structure was interpreted as being a continuation of the magnetic structure found on the Royal Nickel property. Phase II consisted of 1,020 meters of diamond drilling on the structure and completed by mid-August 2014. The Launay Nickel Project is contiguous with and to the northwest of the 4,080 hectare Royal Nickel Property. The Royal Nickel Property covers the entire Dumont Nickel deposit which is cited to contain a measured resource of 372 million tonnes at 0.28% nickel and an indicated resource of 1.29 billion tonnes at 0.26% nickel as stated on the Royal Nickel website. Once in operation, the mine will produce nickel for over 30 years. Construction and operation of the mine and processing facilities will be made easier by the existence of excellent infrastructure, including roads, rail and access to low-cost power. The same ultramafic geological unit that the mineralization is found on the Royal Nickel Property continues onto the Explor's property. Very little overburden (2 to 4 Meters) on the recently drilled section #78+00E was encountered during the first phase of diamond drilling. Hole #3 was drilled and intersected 60.1 meters of ultramafic rocks. Hole #3 intersected anomalous nickel values that ranged from 0.08% to 0.19% (800 ppm to 1,900 ppm) In the ultramafics, nickel is accompanied by local geochemically anomalous platinum to 33 ppb and palladium to 59 ppb. Hole # 4, was drilled and intersected 80.8 meters of ultramafics rocks with anomalous nickel values from 0.05% to 0.12% (500 ppm to 1,200 ppm). The nickel enrichment is accompanied locally by weak geochemically anomalous platinum to 44 ppb and palladium to 31 ppb, with enrichment occurring in the upper portion and particularly near the upper contact. Hole # 5, is a step back hole drilled behind Hole #3, intersected 132 meters of ultramafic rock. Hole #5 intersected anomalous nickel values from 0.04% to 0.11% (400 ppm to 1,100 ppm). Of note in this drill hole is the gold zone that was intersected from 94.5 to 99.0 meters of 1.199 g/tonne over 4.5 meters.


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