VAL-D'OR, QC, June 18 /CNW Telbec/ - X-Ore Resources Inc. (XOR - TSX.V)
is pleased to announce that First Gold Exploration Inc. (EFG - TSX.V) has now
obtained all permits and has started its drill program on the Croinor project
recently optioned from X-Ore Resources. For details of the joint-venture
agreement see press release dated May 1st, 2007.
The Croinor project located 75 km by road from Val-d'Or, in the Abitibi
region of Quebec hosts the Croinor deposit which contains an estimated
1,429,075 metric tons of 6.31 G/TM or 289,890 ounces of gold for combined,
measured and indicated resources at a cut-off grade of 2.00 G/TM in the first
200 meters from surface (NI 43-101 compliant). The Croinor deposit is hosted
in diorite, known as the Croinor Sill. Gold mineralization is contained within
lenses made up of quartz-carbonate-tourmaline-pyrite within an altered host
rock. Mineralized lenses have dips ranging from nearly vertical to flat lying.
They show good lateral continuity, having been following over a distance of up
to 600 meters. To date, over 40 gold-bearing lenses have been outlined within
the Croinor Sill.
The planned program on the Croinor Sill consists of 10 holes (see figure
http://www.x-ore.com/i/pdf/2007-06-15_CPDC.pdf) that will be drilled to an
average depth of 450-500 meters for a total of 5,000 meters enclosed in an
area of roughly 500 meters square.
This program will be immediately followed by a further 1,500 meter
diamond drill program consisting of shallow holes in an area named Lac Bug
located a few hundred meters from the Croinor Sill where gold mineralization
was identified by trenching and drilling in previous campaigns. This drill
program will evaluate the potential of the area where the Croinor Sill and the
Lac Bug mineralization are interpreted to coalesce - these contacts are
typically very favorable environments for gold mineralization.
Mr. Pierre O'Dowd, a Qualified Person under NI 43-101 has revised and
approved the technical content of this release. Mr. O'Dowd will supervise the
field work that will be executed on the project.
About X-Ore Resources Inc.
X-Ore Resources formerly South-Malartic Exploration Inc. is a mineral
exploration company with 17 properties located in known gold regions of Mexico
and Canada, including the prolific Sierra Madre Gold Belt in proximity to
Minefinder's Dolores (15 km east), Alamos' Mulatos (40 km south) and Gammon
Lake's Ocampo (80 km south) deposits, as well as the Val-d'Or region of
The TSX Venture Exchange does not accept responsibility for the accuracy
of this press release. This press release contains "forward-looking
statements" not based on historical facts. Forward-looking statements express,
as of the date of this press release, our estimates, forecast, projections,
expectations and opinions as to future events or results. Forward-looking
statements herein expressed are reasonable, but involve a number of risks and
uncertainties, and there can be no assurance that such statements will prove
to be accurate. Therefore, actual results and future events could differ
materially from those anticipated in such statements. Factors that could cause
results or events to differ materially from current expectations expressed or
implied by the forward-looking statements include, but are not limited to,
fluctuations in the market price of precious metals, mining industry risks,
uncertainty as to calculation of mineral resources and requirements of
additional financing and the capacity of the Company to obtain financing.
For further information:
For further information: Mr. Léon Méthot, President and CEO, (819)
824-5422; Mr. Richard Dufresne, Executive vice-president, (819) 824-5422; Mrs.
Donna Yoshimatsu, Investor Relations, (647) 293-7047, email@example.com;