Temex intersects high grade gold 648 g/t, Whitney Property, Timmins
September 28 2011 - 8:00AM
PR Newswire (Canada)
TSXV:TME; FWB:TQ1 TORONTO, Sept. 28, 2011 /CNW/ - Temex Resources
Corp. (FWB: TQ1) ("Temex" or "the Company") reports that surface
exploration drilling on the Broulan Reef Mine area of the Whitney
Property (the "Property") has returned additional high grade assay
results over significant core widths. Drilling followed up on
previous shallow drilling by Temex that had intersected 33.46 g/t
gold over 5.40 metres and 3.58 g/t gold over 6.60 metres and the
holes reported today have successfully extended the area of high
grade gold mineralization a further 210 metres along strike to the
east. Highlights: -- TW11-139: 3.00 metres of 4.51 g/t gold
including 1.00 metres grading 13.37 g/t gold -- TW11-145: 6.80
metres of 3.97 g/t gold including 2.10 metres grading 10.53 g/t
gold -- TW11-145: 8.80 metres of 37.90 g/t gold including 0.50
metres grading 648.13 g/t gold -- TW11-145: 6.00 metres of 5.44 g/t
gold including 0.90 metres grading 13.65 g/t gold -- TW10-147: 2.30
metres of 8.79 g/t gold including 0.50 metres grading 38.01 g/t
gold -- TW11-148: 4.00 metres of 13.55 g/t gold including 0.50
metres grading 44.04 g/t gold Eleven holes were drilled to continue
shallow testing of the hanging wall and foot wall areas of the
former Broulan Reef Mine workings to explore for additional near
surface flat vein and quartz stockwork zones outside areas where
historical, non-compliant with National Instrument 43-101 ("NI
43-101") resource blocks defined by previous operators
remain. These types of zones have historically had very
erratic and nuggety gold mineralization but were successfully bulk
mined from underground with significantly higher grades being
obtained than those indicated by drilling. The majority of the
holes being reported today intersected quartz-carbonate veins and
stringer zones from within strongly carbonate altered volcanic
rocks ranging from 20 to 200 metres vertical from surface with
several reporting visible gold. Significant assays are
reported in the following table; results are reported in core
lengths as the true widths of the zones are unknown. Hole TW11-145
intersected several quartz and quartz-carbonate stockwork zones,
with some individual veinlets containing several occurrences of
visible gold. One of the intervals reported averaged 37.90 g/t gold
over 8.80 metres and is within a wide zone of quartz vein /
stockwork. Within that interval, one sample assayed 648.13 g/t gold
from an interval where the highest concentration of visible gold
was noted in the core. All samples from this stockwork zone
returned anomalous gold up to 3.56 g/t gold with several samples
containing visible gold, highlighting the nugget effect which was
typical of the gold mineralization in the Broulan Reef Mine where
some veins reported extremely high grade assays and similar veins
within the same mineralized zone did not. "These are the best drill
results from our drilling in the Broulan Reef area and additional
drilling will be initiated to fully define the geometry and extent
of the zones. We are exceptionally pleased with our drilling
program, which is also testing a number of priority targets in the
Upper Hallnor Mine area located 2 kilometres to the east, continues
to deliver significant gold intersections demonstrating the
excellent potential to define gold resources proximal to
infrastructure in many areas of this high quality Property,"
commented Ian Campbell, President and CEO. The results reported
today are from a 12,000 metre drill program initiated earlier this
year which is testing priority targets in the upper areas of the
Broulan Reef and Hallnor Mines as well as high priority exploration
targets on the Property, located in the heart of the Timmins Gold
Camp. Assays are pending on several other holes. The Property
hosts three past producing mines including the high grade Hallnor
Mine which produced 1.7 million ounces of gold at an average grade
of 0.40 ounce per ton (13.7 g/t) gold. Exploration is being
conducted by the Company under the terms of a joint venture
agreement between Temex (60%) and Goldcorp Canada Ltd. (40%). To
view graphic, please see link:
http://files.newswire.ca/322/WhitneyProp2011.pdf Ian Campbell, P.
Geo., President and CEO of the Company, is the designated
"qualified person" (within the meaning of National Instrument
43-101) responsible for the preparation of this news release. About
Temex Resources Corp. Temex is a Canadian based exploration company
focusing on its portfolio of precious metals properties in
northeastern Ontario, a world class mining district. Temex is
exploring its Timmins Whitney Property, in partnership with
Goldcorp, and expanding its NI 43-101 gold resource at the Juby
Gold Project (news release June 15, 2010; SEDAR July 30, 2010) with
an updated resource estimate planned for fall 2011. The Juby
Main Zone has a resource of 14.1 million tonnes at a grade of 1.36
g/t gold for 614,000 ounces of gold in the Indicated category and
18.3 million tonnes at a grade of 1.14 g/t gold for 602,000 ounces
of gold in the Inferred category, both at a cut-off grade of 0.50
g/t gold (news release June 15, 2010).(1) Temex also has a NI
43-101 compliant resource for tailings material on its Gowganda
Silver Project (news release June 8, 2011; SEDAR July 21,
2011). The tailings piles contain resource of 1.94 million
tonnes grading 47.5 g/t silver for a contained resource of 2.96
million ounces of silver in the Indicated category.(2) Notes: 1.
Information regarding the mineral resource estimate on the Juby
Main Zone can be found in the Company's news release dated June 15,
2010 and the technical report filed on SEDAR July 30, 2010. The
Mineral Resource Statement was prepared for Temex by GeoVector
Management Inc., Ottawa, Ontario according to the "CIM Standards on
Mineral Resources and Reserves: Definition and Guidelines"
(December, 2005), by Allan Armitage, Ph.D., P. Geol., and Joe
Campbell, B.Sc., P.Geo., "independent qualified persons" as defined
by NI 43-101. 2. Information regarding the mineral resource
estimate in the tailings piles located on the Gowganda Silver
Project can be found in the Company's news release dated June 8,
2011 and the technical report filed on SEDAR July 21, 2011. The
Mineral Resource Statement was prepared for Temex by GeoVector
Management Inc., Ottawa, Ontario according to the "CIM Standards on
Mineral Resources and Reserves: Definition and Guidelines"
(December, 2005), by Allan Armitage, Ph.D., P. Geol., Alan Sexton,
M.Sc., P.Geo. and Joe Campbell, B.Sc., P.Geo., "independent
qualified persons" as defined by NI 43-101. Table 1.
Significant results from drill holes reported in this release
_____________________________________________ |Hole_ID |From (m)|To
(m)|Core Length|Au (g/t)| | | | | (m) | |
|________|________|______|___________|________| |Broulan Reef -
FootwallZone | |_____________________________________________|
|TW11-139| 65.00 |68.00 | 3.00 | 4.51 |
|________|________|______|___________|________| |includes| 65.00
|66.00 | 1.00 | 13.37 |
|________|________|______|___________|________| |TW11-145| 230.00
|236.80| 6.80 | 3.97 |
|________|________|______|___________|________| |includes| 234.70
|236.80| 2.10 | 10.53 |
|________|________|______|___________|________| | | 247.50 |253.50|
6.00 | 5.44 | |________|________|______|___________|________|
|includes| 250.10 |250.60| 0.50 | 25.27 |
|________|________|______|___________|________| |includes| 250.60
|251.50| 0.90 | 13.65 |
|________|________|______|___________|________| | | 270.50 |279.30|
8.80 | 37.90 | |________|________|______|___________|________|
|includes| 277.50 |278.00| 0.50 | 648.13 |
|________|________|______|___________|________| |TW11-146| 35.10
|40.00 | 4.90 | 1.19 |
|________|________|______|___________|________| |TW11-147| 31.00
|33.30 | 2.30 | 8.79 |
|________|________|______|___________|________| |includes| 32.80
|33.30 | 0.50 | 38.01 |
|________|________|______|___________|________| | | 170.40 |173.60|
3.20 | 1.43 | |________|________|______|___________|________|
|TW11-148| 76.80 |80.80 | 4.00 | 13.55 |
|________|________|______|___________|________| |Includes| 76.80
|77.80 | 1.00 | 44.04 |
|________|________|______|___________|________| |TW11-149| 167.00
|172.60| 5.60 | 1.71 |
|________|________|______|___________|________| |Includes| 170.00
|170.50| 0.50 | 13.83 |
|________|________|______|___________|________| |TW11-152| 192.50
|194.00| 1.50 | 1.14 |
|________|________|______|___________|________| |TW11-153| 286.80
|288.00| 1.20 | 2.94 |
|________|________|______|___________|________| Notes: Temex has
implemented a quality control (QA/QC) program which includes the
use of standards and blanks. Samples of split NQ core are
transported by Company personnel to Swastika Laboratories located
in Swastika, Ontario in sealed bags. The remaining half of the
core is kept as a permanent record and stored at a secure facility
in Timmins. The core samples are analyzed using a 30 gram
standard fire assay method. Pulp metallic gold assaying is
performed as selected on samples where visible gold is
observed. Intervals reported are core lengths. True
widths are unknown at this time. Estimates if reported are
historical in nature and are not in compliance with NI 43-101
"Standards of Disclosure for Mineral Deposits" and therefore should
not be relied upon. Forward Looking Statements: This news release
includes certain "forward-looking statements". Such
forward-looking statements involve risks and
uncertainties. The results or events predicted in these
forward-looking statements may differ materially from actual
results or events. The Company disclaims any intent or
obligation to update any forward-looking statement, whether as a
result of new information, future events or results or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE. Temex Resources Corp. CONTACT:
Please visit www.temexcorp.com or email: info@temexcorp.com
orphone: 416-862-2246 toll free: 866-373-6287
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