Temex Intersects High Grade Gold at Q Zone and Upper Hallnor, Whitney Gold Project, Ontario
April 18 2012 - 8:00AM
PR Newswire (Canada)
TORONTO, April 18, 2012 /CNW/ - Temex Resources Corp. (FWB: TQ1)
("Temex" or "the Company") announces that high grade gold
mineralization has been intersected in the Q Zone and broad zones
of gold mineralization with high grade intervals have been
intersected in the Upper Hallnor on the Whitney Project,
Timmins. Significant results are shown in Table 1. Temex is
conducting a program targeting the Upper Hallnor to define
near-surface gold resources typical of what has been mined at the
adjacent Pamour Mine and Hoyle Mine sites. The Hallnor Mine was the
highest grade past producing multi-million ounce gold mine in
Timmins, Canada's largest gold producing area. Since October
2011 a total of 65 holes for 16,800 metres have been drilled in
this campaign which is designed to define gold resources that may
be mined near surface. Drill Highlights for Q Zone: -- TW11-180:
6.38 g/t gold over 3.78 metres including 27.90 g/t gold over 0.73
metres -- TW12-208: 36.20 g/t gold over 1.00 metre Drill Highlights
for Upper Hallnor Mine Horizon: -- TW11-173: 1.05 g/t gold over
87.48 metres including 9.97 g/t gold over 0.70 metres and 10.36 g/t
gold over 2.00 metres -- TW11-179: 1.79 g/t gold over 4.50 metres
including 4.22 g/t gold over 0.90 metres -- TW11-187: 1.07 g/t gold
over 31.30 metres including 10.30 g/t gold over 0.50 metres "We are
very pleased by the continued encouraging drill results through the
Upper Hallnor mine horizon and that the Q Zone, discovered in 2009,
has now been intersected along a vertical distance of 600 metres
with several intercepts of high grade gold mineralization," said
Ian Campbell, President and CEO. Q Zone The Q Zone was discovered
by Temex in holes TW09-78 and TW09-79 (news releases May 14, 2009
and July 7, 2009) which recorded multiple high grade gold
intercepts over a 300 metre vertical extent including 68.70 g/t
gold over 0.50 metres, 16.65 g/t gold over 0.50 metres, 14.97 g/t
gold over 0.50 metres, 29.21 g/t gold over 1.40 metres, and 17.71
g/t gold over 2.90 metres including 90.35 g/t gold over 0.50
metres, with visible gold occurring in 15 of the sampled intervals.
Two holes of the current program which tested the Q Zone
intersected high grade gold and the zone remains wide open in all
directions. Hole TW11-180, which was drilled from north to south to
test the Upper Hallnor mine horizons for open pit mineralization,
was extended to the Q Zone and intersected 6.38 g/t gold over 3.78
metres including 27.90 g/t gold over 0.73 metres. This intercept is
significant as it represents the first hole to define the true
width of the mineralized horizon. Hole TW12-208 intersected 36.20
g/t gold over 1.00 metre at 100 metres vertical depth and extended
the known vertical extent by 300 metres in an up-dip direction. The
Q Zone is a series of high grade quartz veins hosted in Timiskaming
rocks typical of those that historically produced more than half of
the mineralization mined underground at Hallnor as well as from
open pit operations on strike to the east. The zone lies
structurally below previously mined portions of the Upper Hallnor
in an area that was not well tested for mineralization. Upper
Hallnor Mine Horizon Drilling intersected multiple zones of vein
and vein stockworks which occur primarily in Timiskaming
sedimentary rocks that hosted the Upper Hallnor mine horizons; the
zones of gold mineralization are open in all directions. Whitney is
an advanced gold project that includes 4 km of the prolific Timmins
gold trend that has been mined for 100 years and remains the
largest gold producing district of Canada. The Whitney property
contains numerous near-surface gold targets including the Upper
Hallnor; Upper Broulan Reef, C Zone, and Q Zone. The current
drill program is being conducted under the joint venture between
Temex (60%; operator) and Goldcorp Canada Ltd. (40%). Karen Rees,
P.Geo., Vice President, Exploration of Temex Resources Corp., is
the designated qualified person responsible for the preparation of
this news release. Table 1. Significant results from drill holes
reported in this release
_____________________________________________ | Hole_ID |From
(m)|To (m)| Core |Au (g/t)| | | | |Length (m)| |
|_________|________|______|__________|________| |TW11-173 | 400.52
|488.00| 87.48 | 1.05 |
|_________|________|______|__________|________| |including| 408.50
|415.00| 6.50 | 2.37 |
|_________|________|______|__________|________| | | 433.00 |449.80|
16.80 | 1.54 | |_________|________|______|__________|________|
|including| 441.30 |442.00| 0.70 | 9.97 |
|_________|________|______|__________|________| | | 466.80 |488.00|
21.20 | 2.03 | |_________|________|______|__________|________| | |
472.00 |474.00| 2.00 | 10.36 |
|_________|________|______|__________|________| |TW11-176 | 293.88
|296.00| 2.12 | 3.04 |
|_________|________|______|__________|________| |TW11-179 | 265.50
|270.00| 4.50 | 1.79 |
|_________|________|______|__________|________| |including| 266.50
|267.40| 0.90 | 4.22 |
|_________|________|______|__________|________| |TW11-180 | 252.00
|253.06| 1.06 | 12.40 |
|_________|________|______|__________|________| | | 508.00 |516.03|
8.03 | 0.98 | |_________|________|______|__________|________|
|including| 509.60 |510.18| 0.58 | 6.45 |
|_________|________|______|__________|________| | | 524.95 |528.73|
3.78 | 6.38 | |_________|________|______|__________|________|
|including| 524.95 |525.68| 0.73 | 27.90 |
|_________|________|______|__________|________| |TW11-187 | 323.35
|354.65| 31.30 | 1.07 |
|_________|________|______|__________|________| | | 348.60 |349.10|
0.50 | 10.30 | |_________|________|______|__________|________|
|TW11-190 | 337.10 |338.10| 1.00 | 2.63 |
|_________|________|______|__________|________| |TW12-208 | 81.00
|82.00 | 1.00 | 36.20 |
|_________|________|______|__________|________| Notes: Temex
implemented a quality control (QA/QC) program to ensure best
practice in sampling and analysis. Samples of split NQ-size
core are transported by Company personnel in securely sealed bags
for preparation and analysis at ALS Chemex facilities. The
remaining half of the core is kept as a permanent record and stored
at a secure facility in Timmins. ALS Chemex is an
ISO9001-2008 and ISO 17025-2005 registered laboratory. Core
samples are analyzed for gold using a 30 gram fire assay with an AA
finish and by gravimetric methods. Samples observed by
Company personnel to contain visible gold are assayed by metallic
screen gold assay. Intervals reported are core lengths.
True widths are unknown at this time. 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 its Juby Gold
Project. The Juby Main Zone has NI 43-101 compliant resources
of 22.3 million tonnes at a grade of 1.30 g/t gold for 934,645
ounces of gold in the Indicated category and 28.2 million tonnes at
a grade of 1.00 g/t gold for 905,621 ounces of gold in the Inferred
category, both at a cut-off grade of 0.40 g/t gold (Note 1).
Temex also has a NI 43-101 compliant resource for tailings material
on its Gowganda Silver Project (Note 2). The tailings piles
contain a NI 43-101 compliant 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. Notes: 1. Information
regarding the mineral resource estimate on the Juby Main Zone is in
the Company's news release dated January 16, 2012 and the technical
report filed on SEDAR February 28, 2012. 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 Joe Campbell, BSc, P.Geo., Alan Sexton, MSc, P.Geol., and
Allan Armitage, PhD, P.Geol., "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 is 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, PhD, P.Geol., Alan Sexton, MSc, P.Geo.
and Joe Campbell, BSc, P.Geo., "independent qualified persons" as
defined by NI 43-101. 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: For more information please visit
www.temexcorp.com oremail: info@temexcorp.com or phone:
416-862-2246 toll free:866-373-6287
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