TORONTO, Feb. 24, 2015 /CNW/ - Temex Resources Corp.
(TSX-V: TME, FWB: TQ1) ("Temex" or "the Company") is pleased to
announce that it has received excellent metallurgical testwork
results from the Whitney Gold Project in Timmins, Ontario; the work was conducted by
SGS Canada Inc., Lakefield,
Ontario (SGS). The historic and prolific Hallnor mine,
the centerpiece of the Whitney Project, was the highest grade gold
producer in the Timmins camp,
having produced 1.7 M ounces of gold at 0.40 ounces (12.4 g) gold
per tonne. Current NI 43-101 measured and indicated resources
of the Whitney Property total 708,600 ounces contained in 3,219,000
tonnes grading 6.85 g/t gold and inferred resources of 170,700
ounces contained in 995,000 tonnes grading 5.34 g/t gold, at a
cut-off grade of 3.0 g/t gold.
The testwork was conducted on a single composite sample, with a
head grade of 6.59 g/t gold, comprised of 200 drill core samples
collected from thirty-seven diamond drill holes, selected as
representative of the overall high grade NI 43-101 resource.
Preliminary metallurgical testwork done on low grade composite
samples also achieved excellent gold recoveries ranging from 93% to
98% on head grades ranging between 0.94 to 2.32 g/t gold
respectively (news release February 27,
2013).
Highlights:
- Overall recoveries of 98% and 96% at head grade of 6.59 g/t
gold were achieved from grind sizes of a P80=73 μm at the finest
size and at P80=149 μm at the coarsest size respectively from
conventional gravity concentration followed by high intensity
cyanidation of gravity concentrate and cyanidation of gravity
tailings by carbon-in-pulp (CIP) recovery methods.
- Activated carbon leach tests demonstrated that no deleterious
elements in the feed were present to compete with gold
extraction.
- Very high gravity separation was achieved, with rates between
51% and 66% depending on the weight recovered.
- Intensive cyanidation of concentrate (both gravity and
flotation) resulted in high levels of extraction of 99% and 97%
respectively; the cyanide leach reagent consumption was low.
- Conventional froth flotation on gravity tailings was also
tested as a comparable alternative to CIP/CIL extraction. Combined
with gravity recovery, overall gold recoveries were as high as 96%
before cyanidation and 95% subsequent to cyanidation.
- Modified ABA (acid/base accounting) testing clearly identified
CND (cyanide destruction) tailings as non-acid generating (NAG)
with most of the neutralization potential related to fast-reacting
carbonate mineralization. NAG testing confirmed the results of the
ABA test, also clearly identifying the CND tailings as non-acid
forming.
- Testwork results suggest that gravity separation followed by
cyanidation/CIP of gravity tailings may be the optimum
flowsheet.
- Additional testing could improve efficiencies and reduce
milling costs.
"We are extremely pleased with the exceptional results of the
detailed metallurgical testwork at Whitney reported today," commented
Ian Campbell, President and CEO of
Temex Resources Corp. "These results together with the
preliminary work reported on in 2013 indicate that very high
recoveries are achievable at both high and low head grades.
Both series of tests achieved excellent gravity separation results
indicating the presence of substantial free-milling gold, high
cyanidation recoveries at fast reaction times and low reagent
consumption, suggesting opportunities to lower milling costs."
Metallurgical testwork flowsheet results are summarized in the
following table:
Flowsheet
|
% Gold
Recovery
|
Gravity, Flotation
(incl. cyanidation of gravity and flotation
concentrates)
|
94.7
|
Gravity, Cyanidation
(incl. cyanidation of gravity concentrate)
|
97.9
|
Outlook and Workplan
The metallurgical testwork
results will be a key factor in securing a custom toll milling
agreement, with several potential opportunities in the Timmins area. The Company plans to
undertake an advanced exploration open pit bulk sample project
focussed on the Upper Hallnor 110 Zone, as described in previous
news releases. Environmental testwork to support an addendum
to the existing closure plan, which is operated by Goldcorp, has
been completed. It is anticipated that internal review of the
work will be completed by the joint venture partners prior to
submission to the intergovernmental agencies for final permitting
approval.
The metallurgical testwork was supervised by Maziar E. Sauber, Ph.D., P.Eng., Project Manager
– Metallurgist, Metallurgical Operations, SGS Canada Inc.,
Lakefield, Ontario, Canada.
The technical information in this news release has been
approved by David Hall P.Eng.,
President, Applied Mineral Research Inc., independent qualified
person and consultant to Temex.
Kim Tyler, P.Geo., Operations
Manager for Temex Resources Corp. is the designated qualified
person 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 the world class mining district of northeastern
Ontario. Temex (60% interest) is advancing the Timmins
Whitney Gold Project, in partnership with Goldcorp Canada Ltd. (40%
joint venture interest; no back-in rights), and exploring the Juby
Gold Project (100% Temex).
The Whitney Property has a NI 43-101 compliant resources on the
Upper Whitney of 0.97 million tonnes at a grade of 7.02 g/t gold
for 218,100 ounces of gold in the Measured category plus 2.3
million tonnes at a grade of 6.77 g/t gold for 490,500 ounces of
gold in the Indicated category and 1.0 million tonnes at a grade of
5.34 g/t gold for 170,700 ounces of gold in the Inferred category
at a cut-off grade of 3.0 g/t gold (Note 1).
The Juby Gold Project has NI 43-101 compliant resources of 26.6
million tonnes at a grade of 1.28 g/t gold for 1,090,400 ounces of
gold in the Indicated category and 96.2 million tonnes at a grade
of 0.94 g/t gold for 2,908,800 ounces of gold in the Inferred
category, both at a cut-off grade of 0.40 g/t gold (Note
2).
Temex also has a NI 43-101 compliant resource for tailings
material on its Gowganda Silver Project. 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 (Note 3).
Notes:
- Information regarding the mineral resource estimate on the
Upper Whitney is in the Company's news release dated January 14, 2014 and the technical report filed
on SEDAR on February 27, 2014.
The Mineral Resource Statement was prepared for Temex by P&E
Mining Consultants Inc. of Brampton,
Ontario in accordance with NI 43-101 by Richard Sutcliffe, PhD, P.Geo., Eugene Puritch, P.Eng., David Burga, P.Geo., Yungang Wu, P.Geo.,
Tracy Armstrong, P.Geo., and
Antoine Yassa, P.Geo., "independent
qualified persons" as defined by NI 43-101.
- Information regarding the mineral resource estimate on the Juby
Gold Project is in the Company's news releases dated April 29, 2013 and January
15, 2014 and the technical report filed on SEDAR
February 26, 2014. The Mineral
Resource Statement was prepared for Temex by GeoVector Management
Inc., Ottawa, Ontario in
accordance with NI 43-101 by Joe Campbell,
BSc, P.Geo., Alan Sexton,
MSc, P.Geo., and Duncan Studd, MSc,
P.Geo., "independent qualified persons" as defined by NI
43-101.
- 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 in accordance with
NI 43-101 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 Information:
This news release
contains forward-looking information which is not comprised of
historical facts. Forward-looking information involves risks,
uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Forward-looking information in this news release
includes, but is not limited to, mineral resource estimates, and
the development of its projects as well as the timing related
thereto. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, general business and economic uncertainties, future
mineral prices, uncertainties in mineral resource estimates and
adverse market conditions, as well as those risks set out in the
Company's public documents filed on SEDAR. Although the Company
believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable,
undue reliance should not be placed on such information, which only
applies as of the date of this news release, and no assurance can
be given that such events will occur in the disclosed time frames
or at all. The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, other than
as required by law.
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.
SOURCE Temex Resources Corp.