TSX Venture Exchange:TME, Frankfurt Exchange:TQ1
TORONTO, April 22 /CNW/ - Temex Resources Corp. (TSX Venture:TME,
Frankfurt:TQ1) ("Temex") announces that drilling on the Whitney Township
Property (the "Property") continues to intersect high grade gold values at
depth on the Hallnor block. The Property occurs within a 4 kilometre long, 10+
million ounce mine trend and includes the Hallnor Mine with historic
production totalling more than 1.65 million ounces of gold at an average grade
of 0.40 opt (13.71 g/t) making it one of the highest grade gold mines in the
65 million ounce Timmins Gold Camp.
The primary target of the current program is to test for the down dip,
down plunge extensions of the lower Hallnor vein systems, specifically the 11
and 19 Vein systems. These two vein systems were mined up to a former property
boundary and produced 450,000 tons grading 0.30 opt (10.29 g/t) gold and
650,000 tons grading 0.42 opt (14.40 g/t) gold.
Assay results from wedge drill hole TW09-77W7 have been received with
significant drill intersections being obtained within the 19 Vein area
highlighted by intersections of 141.50 g/t gold over 0.50 metres and 2.78 g/t
gold over 1.00 metre. These intersections lie approximately 75 metres up dip
of the initial 19 Vein pilot hole intersection. Erratic grades are typical of
drill intersections from previously mined high grade stopes given the strong
nugget gold distribution within Lower Hallnor vein systems.
Gold mineralization intersected on the broad 11 Vein zone yielded 1.08
g/t gold over 2.60 metres and 5.38 g/t gold over 0.50 metres with three
occurrences of visible gold noted in the drill core. The 11 Vein zone is
defined in this hole by a series of veins and stringers over a 10 metre core
length with moderate iron carbonate alteration and minor sulphide
Several other encouraging assay results were obtained from the 13 Vein
area which include 4.37 g/t gold over 1.00 metre and several potentially new
zones were encountered between the 11 and 13 Veins including 4.79 g/t gold
over 1.00 metre, 3.26 g/t gold over 0.50 metres and 7.70 g/t gold 2.00 metres.
Additionally, drilling is underway on the Q1 target (news release March
23, 2009) which is testing a significant new target recently identified in the
Upper Hallnor area, approximately 150 metres southeast of the historic mine
gap area between the Upper and Lower Hallnor vein systems.
The Property is owned by Porcupine Gold Mines ("PGM", a joint venture
between Goldcorp Inc. and Goldcorp Canada Ltd.) and Temex has the option to
earn a 60% interest. Temex expects to complete the $4.0 million expenditure
commitment in May 2009. Henry Hutteri, P. Geo., is the designated qualified
person responsible for the preparation of this news release.
The Company also announces the grant of an aggregate of 300,000 options
under the stock option plan to certain of the Company's directors and to
certain other members of management. Each such option may be exercised by the
holder to purchase one common share of the Company at a price of $0.30 per
share for a period of 5 years.
Temex is a Canadian exploration company advancing its precious metal
projects in Ontario.
On behalf of the Board of Directors,
President and CEO
Note: Temex has implemented a quality control (QA/QC) program which
includes the use of standards and blanks. Samples of split NQ core were
transported by Company personnel to Swastika Laboratories in Swastika, Ontario
in sealed bags. The remaining half of the core was kept as a permanent record
and stored at a secure facility in Timmins. The core was analyzed using a 30
gram standard fire assay method. Pulp metallic gold assaying was performed on
the larger veins. Intervals reported are core lengths.
(*) 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: Ian Campbell, President and CEO or Bruce
Durham, Executive Chairman at (416) 862-2246 or visit www.temexcorp.com