Explor Resources Inc. said March 21 that it will acquire a gold prospective property covering 1,036.4 hectares in Ontario's Hoyle Township.

The property comprises eight mining claims and is located north of Tahoe Resources Inc.'s Bell Creek mine and Goldcorp Inc.'s Owl Creek and Hoyle Pond properties.

Explor will pay C$1,000 and issue 3 million shares to purchase the asset.

The company's flagship asset is the Timmins Porcupine West gold project in Ontario.