Resource Estimates & PEA...
Rouyn-Noranda, Sep 12, 2017 AEST (ABN Newswire) - Mining exploration is a long, and incredibly complex process. Looking at Explor Resources Inc.'s (
CVE:EXS) (E1H1:FRA) (EXSFF:OTCMKTS) Timmins Porcupine West gold resource, recent drilling added a lot of credibility to an Open Pit start up scenario, preferred by the Big Boys. With the assistance of a Toronto based group, Dupont's immediate concern is further tightening up various sections of the known deposit, prior to contracting a 43-101 Resource Estimate upgrade. He's determined to do at least another 10,000 meter drilling program, before that happens. He fully understands the criteria of the Tahoes & Goldcorps, and one small step at a time, is making the TPW more compliant with that criteria.
Obviously, the cost of the 43-101 upgrade is significant, so Dupont wants to be certain that the new numbers will constitute a considerable improvement over the existing ones. Then, possibly, the company can consider spending at least $100,000 to have a PEA (Preliminary Economic Assessment) done.
Apparently, Dupont will be in Toronto next week for a number of meetings, presumably to sort through some financing opportunities. Given some of the mystery surrounding previous trips to Toronto, are one or more of the TPW suitors ready to present proposals?
Great progress has been made towards start up of the 3,000 meter drilling program at the East Bay gold prospect. Geologists have been matching geochemistry and geophysics, to determine the very best initial drill targets in the Company's vast land holdings in the region. The proximity to neighbouring producer IAMGOLD might be a consideration as well?
Speaking generally, negative interest rates in Europe, and Japan, are driving a major flight to physical gold, increasing demand. Further, according to the latest COT Report, gold futures contract numbers are accelerating rapidly, gaining 14,250 contracts on the upside potential of gold moving forward just this past week. The 10-11% deterioration in the USD since the beginning of this year has also helped gold test 2016 highs. The future looks bright for any pubco with a gold resource.
NOTE: This forum commentary was published from a third party source. It has not been verified by the company.
About 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.
