TSX Venture Exchange: TME, Frankfurt Exchange: TQ1
TORONTO, Nov. 25 /CNW/ - Temex Resources Corp. (TSX Venture: TME,
Frankfurt: TQ1)("Temex") provides results on an eight-hole 1,280 metre diamond
drill program completed on its GP2 Property (the "Property") located in the
McFaulds Lake "Ring of Fire" area of northwestern Ontario and located
approximately 50 kilometres southwest of the Noront Resources Ltd. ("Noront")
Double Eagle copper-nickel-platinum group element ("Cu-Ni-PGE") discoveries
and the Spider-KWG Resources copper-zinc ("Cu-Zn") volcanogenic massive
sulphide ("VMS") discoveries. The GP2 Property is held under Joint Venture
between the Company and East West Resource Corporation ("East West") and on
which Mill City Gold Corp. ("Mill City") has the option to earn a 50%
interest. The program is funded 100% by Mill City with Temex acting as
operator.Highlights
- Extensive anomalous copper-nickel mineralization over 80 metres in
hole GP2-08-01.
- Anomalous copper-zinc mineralization in three holes.
- Drilling suggests geological environment favourable for copper,
nickel and zinc mineralization.
- Additional work including diamond drilling and down hole geophysics
recommended.
- Other geophysical targets recommended to be tested.Results have been received for all eight holes completed in September
2008 on the GP2 Property. The limited, initial drilling focused on testing the
top priority targets outlined by VTEM airborne geophysical survey clustered
within a 7 by 2 kilometre section of the Property represented by an area of
high magnetic background thought to represent a belt of unmapped mafic to
ultramafic intrusive and volcanic rocks with no record of previous exploration
or drilling of any kind.
Hole GP2-08-01 tested a single location on a 400 metre long VTEM
conductor with a strong magnetic correlation. The hole intersected strongly
anomalous copper mineralization with elevated nickel mineralization over an 80
metre core length averaging 0.15% copper including several narrower intercepts
of 1.11% copper over 1.29 metres and 1.25% copper over 0.41 metres. The copper
sulphide mineralization is hosted by frequently brecciated gabbroic to
ultramafic rocks and is associated with strongly elevated nickel values. Holes
GP2-08-04 and GP2-08-06 tested 400 metre and 1100 metre long airborne VTEM
conductors and intersected volcanogenic massive sulphide assemblages with
elevated amounts of lead-zinc +/- copper including 1.27% zinc and 0.86% lead
over 3.69 metres (Hole GP2-08-06). Further work has been recommended to fully
evaluate these targets, including ground geophysics and additional diamond
drilling of the geophysical targets along their strike length, in additional
to testing all identified targets.
Commented Bruce Durham, Executive Chairman of Temex "It is encouraging to
intersect copper, nickel and zinc mineralization in the very initial phase of
drilling on this large piece of property, which extends for about 30
kilometres. It is particularly interesting given that we drilled only a single
hole in each of the targets tested and did so without any ground geophysics.
Having already intersected values of up to more than 1% copper and 1% zinc in
addition to anomalous nickel, we feel we are onto something and more drilling
is warranted on these targets as well as all other untested targets."
Bruce Durham, P.Geo. is the designated Qualified Person responsible for
the preparation of this news release. Temex is a Canadian exploration company
advancing its precious metal, nickel, diamond, and uranium projects in
Ontario. For further information, contact Ian Campbell, President and CEO or
Bruce Durham, Executive Chairman at 416-862-2246 or visit www.temexcorp.com.
Interested parties may visit the Temex IR Hub at
http://www.agoracom.com/ir/Temex where they can post questions and receive
answers or review questions and answers already posted by other parties.
Questions, correspondence and requests for names to be added to the e-mail
list to receive all future press releases and updates in real time can be
emailed to mailto: TME@agoracom.com.
On behalf of the Board of Directors,
"Ian Campbell"
Ian Campbell
President and CEO(*) The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release(*)%SEDAR: 00005513E
For further information: Ian Campbell, President, and CEO; or Bruce
Durham, Executive Chairman, at (416) 862-2246, or visit www.temexcorp.com.
