TORONTO, Feb. 26 /CNW/ - Temex Resources Corp. (TSX Venture:TME,
Frankfurt:TQ1) ("Temex") and partner Nuinsco Resources Limited ("Nuinsco")
(collectively "the Companies") announce analytical results from a 12 hole,
1386 metre diamond drill program that was conducted on the Marijane Lake and
Huston Lake Uranium Properties (the "Properties" or the "Claims") in December
2008. The program, which was funded by Nuinsco, tested targets within three
distinct radiometric anomaly areas identified from a helicopter-borne
radiometric and magnetic geophysical survey flown in May 2008. Anomalous
uranium ("U") mineralization greater than 100 ppm U was reported in 7 out of
Ten holes were drilled on the Huston Lake Property, 9 of which tested a 5
kilometre long airborne radiometric anomaly from which follow-up prospecting
had returned up to 3240 ppm U from grab samples of felsic dykes and/or sills
interpreted to be apophyses of the uranium bearing Marijane Lake Batholith.
Six of the holes returned anomalous uranium mineralization with the most
significant results reported being from drill hole THL-08-01 which returned
1170 ppm U and 1510 ppm U within an interval of 663 ppm U over 3.90 metres and
drill hole THL-08-03 which returned 164 ppm U over 10.30 metres.
One hole tested a broad radiometric anomaly over the Marijane Lake
Batholith 10 kilometres to the south from which limited prospecting had
returned 1450 ppm U from a grab sample. No anomalous uranium mineralization
was intersected in the drill hole but this anomaly remains largely untested.
Two holes drilled on the Marijane Lake Property intersected predominantly
felsic intrusive rocks of the Marijane Lake Batholith where prospecting had
identified anomalous uranium mineralization exceeding 200 ppm U over areas of
up to 0.5 by 1.5 kilometres with individual grab samples reporting as high as
1040, 1360 and 1890 ppm U. Anomalous mineralization up to 122 ppm U within a
broad interval of 8.70 metres was intersected in one of the holes.
In all holes, the entire length of the core drilled was sampled, with 850
samples being sent for analysis to Loring Laboratories in Calgary, Alberta for
analysis (see Note 1 below).
Nuinsco has the option to earn a 50% interest in the Claims by spending a
total of $750,000 over a two year period and by making cash payments and share
issuances to Temex (news release May 15, 2008). Nuinsco has completed the
initial expenditure of $500,000 required by May 2009 with the next stage of
exploration program funding required by May 2010.
Temex announces that it has terminated its agreement with AGORACOM
Investor Relations for the provision of online investor relations services
(the "AGORACOM Agreement"), which is described in Temex's press release dated
October 18, 2007. Temex also has terminated its agreement with David Ellis,
Toronto, Ontario for the provision of investor relations services (the "Ellis
Agreement"), which is described in Temex's press release dated July 28, 2008.
The termination of the Agreements is effective as of February 16, 2009 and
February 25, 2009 respectively.
Ian Campbell, 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
On behalf of the Board of Directors,
President and CEO
(*) The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release (*)
Note 1. Loring Laboratories procedure for uranium analysis: Sample
preparation includes crushing, grinding and pulverizing of a
representative sample to -150 mesh. The geochemical analysis procedure
for preliminary detection of low levels of uranium employs a hydrochloric
acid digestion of a 0.5 gram sample, followed by dilution to 10 ml. The
solution is analyzed fluorometrically, with a 0.1 ppm detection limit for
uranium; results are reported as ppm for uranium. The fluorometric assay
procedure used for the analysis of ore grade material employs a total
digestion of the sample using a HNO(3)-HCl-HF-H(2)SO(4) multi-acid
digestion of a 1.0 gram sample, with a 0.001% U(3)O(8) detection limit;
results are reported as percent U(3)O(8).
For further information:
For further information: Ian Campbell, President and CEO or Bruce
Durham, Executive Chairman at (416) 862-2246 or visit www.temexcorp.com