TSX Venture Exchange:TME, Frankfurt Exchange:TQ1
TORONTO, Sept. 11 /CNW/ - Temex Resources Corp. (TSX Venture
Exchange:TME, Frankfurt:TQ1) ("Temex" or "the Company") is pleased to announce
that a 1000 metre diamond drill program has commenced on its Juby North gold
Property located 20 kilometres west of Gowganda, Ontario. The drill program
will test several gold zones which are localized within interpreted splay
fault structures north of a flexure in the main auriferous Tyrrell Structural
Zone ("TSZ"), deemed a favourable geological environment for high grade gold
deposits. The drill program is part of a $250,000 approved exploration program
that will consist of soil geochemical sampling, geophysics, geological
mapping, prospecting, and two phases of diamond drilling.
The geological setting is similar to many Archean gold deposits,
including those of the Porcupine and Larder Lake gold camps, with gold
deposits in the immediate area associated with the TSZ, a major deformation
zone similar to the Destor Porcupine Fault and Cadillac-Larder Lake breaks.
The TSZ hosts the Juby Main Zone, a significant NI 43-101 gold resource (Temex
NR February 16, 2005; www.sedar.com) on Temex's 100% owned Juby Lease
Property. The gold resource at the Juby Lease Property includes a total drill
indicated resource of 479,000 ounces of gold grading 1.71 g/t gold at a
cut-off grade of 1.0 g/t gold, including a core of 315,000 ounces of gold at
2.19 g/t gold, and a total inferred resource of 120,000 ounces of gold grading
2.03 g/t gold at a cut-off grade of 1.5 g/t gold. This resource is contained
from surface to a vertical depth of 400 metres and is unexplored at depth.
The current drill campaign will test for depth and strike extensions of
new discoveries made by the Partners in 2004, which yielded intersections of
up to 3.24 g/t gold over 2.24 metres including 5.85 g/t gold over 1.11 metres
and a separate interval which yielded 5.18 g/t over 1.71 metres including
6.96 g/t gold over 0.92 metres. Both of these intervals were contained in a
broader auriferous zone that averaged 0.89 g/t gold over a core length of
29.85 metres (JU 04-64). This zone is open in all directions and is associated
with a 650-metre long induced polarization ("IP") chargeability anomaly with a
coincident gold in soil geochemical anomaly.
Drilling will also test the depth extension of hole JU 04-57 which
intersected 4.77 g/t gold over 4.91 metres within a broader gold bearing zone
which yielded 1.19 g/t gold over a core length of 29.53 metres. This drill
hole tested the western extension of the TSZ two kilometres along strike to
the west of the gold mineralization hosted within the Juby Main Zone and
400 metres to the west of where Inmet Mining Corp. previously intersected
234 g/t gold over a core length of 1.5 metres. Further to the west along the
TSZ, Goldeye has reported gold intersections including 6.4 metres grading
16.15 g/t gold and 2.05 metres grading 217 g/t gold.
The fall exploration program will also include geochemical sampling,
geological mapping, and prospecting on three separate areas of the property
deemed to have potential to host significant gold mineralization, with the
intent of developing additional drill targets. The Property consists of 40
claims totaling 5,360 acres and is subject to the terms of a 60:40 Joint
Venture between Temex and Goldeye Explorations Limited ("Goldeye") with Temex
being the operator.
Ian Campbell, P.Geo., is the designated Qualified Person responsible for
the preparation of this News Release.
Temex is a well-funded Canadian exploration company focused on advancing
its precious metal, diamond, nickel and uranium projects in Manitoba and
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(*)
For further information:
For further information: please contact Ian Campbell or Bruce Durham at