Very nice to see gold trading a bit stronger to start the week. Optimistically, the upward trend will continue. The sad reality is the paper market will continue to dictate the price of the commodity, regardless of a diminishing supply, and growing demand in the physical gold market.
Explor Resources Inc.
Explor Resources Inc. (CVE:EXS) (OTCMKTS:EXSFF) (FRA:E1H1) is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec, Saskatchewan and New Brunswick. 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 and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Quebec since 2006.
With GOLD at recent lows, its nice to see EXS/EXSFF/E1H1 holding the prevailing .065-.07 level. That represents a Market Capitalization of just over $10million CDN. Let's look at the company's 'Cap' for a minute.
FINANCE VIDEO: Explor Resources Inc. (CVE:EXS) (OTCMKTS:EXSFF) (FRA:E1H1) President Chris Dupont on Recent Drilling at Timmins as well as the East Bay and PG-101 Projects in Canada.
Four new Step-Out holes were drilled as well, denoted #124; 125; 126 & 127. #127 is still in process, but the other three were drilled to depths of 600-650meters. Most of the new core has been logged, sawed, and shipped to the lab for analysis.
The drilling at the Timmins Porcupine West (TPW) is progressing nicely. Step-Out Holes #124 & #125 have been completed to a depth of 600meters (1,968ft). Existing Hole #109 has been deepened to 900 meters.
Explor Resources Inc. (CVE:EXS) (FRA:E1H1) (OTCMKTS:EXSFF) is pleased to announce the acquisition of 1 mining claim (8 units) totalling 128 hectares situated in the Porcupine Mining division, District of Cochrane, Wark Township, Ontario. This additional claim is east of the open pit Mine.
GOLD prices are moderately up and have hit a six-week high in early trading Tuesday, June 6. GOLD prices are now within striking distance of the key $1,300.00 mark. That can only bode favourably for Explor Resources Inc. (CVE:EXS) (FRA:E1H1) (OTCMKTS:EXSFF), given the Timmins Porcupine West GOLD Deposit 'Definition' drilling currently underway.
Chris Dupont & his team have completed preparations for the annual Canadian Mining Exposition being held May 31st to June 1st, in Timmins, Ontario, Canada. This gathering of Mining related companies has become a very important event, and from Explor Resources perspective, second only marginally, to the PDAC, held in Toronto.
Last week's video interview has been very well received. I've had a number of messages, and calls that expressed that attitude, especially the impromptu nature of it. Its just two guys talking about the Company, focused on the current drilling at the Timmins Porcupine GOLD Deposit.
Explor Resources Inc. (CVE:EXS) (OTCMKTS::EXSFF) (FRA:E1H1) is pleased to announce the acquisition of a 37 mineral claims units package (4 claims) totalling 592 hectares, situated in Holloway and Marriott Townships in the Larder Lake Mining Division, District of Cochrane, Province of Ontario, contiguous to the PG-101 Gold Property.