Explor Resources Inc New EXSFF

Notes from the March 28 MD&A

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Just a few casual observations from the MD&A released after Fridays close:

KIDD CREEK   "Explor plans on conducting a two phase exploration program.  Phase 1 is designed to better determine the location of the structural targets via magnetic and geophysics.  Phase 11, planned for the spring of 2008, will consist of diamond drilling the identified targets."

This surely tells us drilling on Kidd is soon to be announced as I have been assured the mag and geophysics are complete.  We may not hit the entire property but from the rumors I have heard about the location of the 'boomers', and looking at the topography via google, I believe we will be hitting most of the encourageing structural targets.

EASTFORD LAKE  "A 1149 meters drilling program completed in April 2006 confirmed the presence of gold bearing rock and structures typical of world class gold camps.  The drilling confirmed mafic and ultramafic volcanics as well as multip[le intrusions of quartz-feldspar-porphyry.  Two pyretic share zones were intersected with anomolous gold values.  Gepphysical surveys have identified six targets along a major fault-like structure running east-northeast through the central part of the property.  The major fault that was intersected is coincident with the northern or "up-ice" cut-off of a large gold and mercury in soil geochemical anomolies." 

What I find interesting is the 'major fault' lies in the cental part of the property.  This hold well for  us as historically economic gold discoveries in the area are almost always found in very close proximity to these major faults.  The east-northeast direction of the major fault may also be telling as the 6 hole diamond drill program that was completed in June tested the northwest end of the gold/quartz boulder zone which is located at the southwestern part of the property (exactly opposite direction to the major fault's direction 'northeast')  From the six holes drilled on this end of the property it was discovered that the anomolous gold values essentially doubled (0.4 g/t 0.8g/t 1.3g/t) for every 200m which coincides with the drill spacings as the holes were drilled towards the northeast.  Well if you look at the size of the property and the direction of the major fault from the central part of the property one has to wonder what the gold values will be once they drill towards the North East of the fault?  In addition to this, the drilling uncovered a porphyry structure in some cases more that 200m in thickness which (you guesses it) is open to the northeast.  Adjacent property to the northwest has banded ultramafics on an anticlinal fold axis (with known gold intersections) vector towards (you guessed it)   the northeast part of our property.  All of this information now leads us to phase !V of the drill program which included the SGH 5/6 gold signature from Actlabs which is at least 90% accurate.  The targets have been drilled and we await assays.  IMO it is not a question of 'is there gold but rather how much' .  What also seems interesting is the rumor of drilling additional holes right away.  CD has not once deviated from the plans so if he is even considering it at this point prior to receiving assays it is a fair bet that he liked what he saw in the core shack!

Just a few late night ramlings over a nice Merlot.

Fence sitters who don't have shares are playing a gambling game thinking that the SP might dip a few cents more.  IMO we are more likely to see it ramp up soon...how high...only the assays know for sure!

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