Widespread Surface Gold on Juby JV Property Northeastern Ontario
TORONTO, Nov. 24, 2011 /CNW/ - Temex Resources Corp. (TSXV: TME), (FWB:
TQ1) ("Temex" or "the Company") reports that prospecting has discovered
several new surface gold zones on its Juby Joint Venture ("JV")
Property located near Gowganda in northeastern Ontario. These new zones
occur approximately 1.5 kilometres southwest of the Juby Main Zone and
appear to represent an important parallel structural trend to the main
Tyrrell Structural Zone upon which the majority of the major gold
occurrences in the area are centered.
A program of B horizon soil sampling conducted in August delineated a
strong gold-in-soil anomalous zone with individual samples returning
values ranging from 28 ppb gold to 1,747 ppb gold (1.7 g/t gold). The
anomalous samples define a trend with a minimum strike length of 1.5
kilometres and width of 0.5 kilometres in an area that has received
virtually no exploration to date. These are by far the strongest gold
in soil anomalies detected to date on both the Juby and Juby JV
"We are very pleased with the success of this grass roots exploration
program with the addition of several new high priority targets for
drill testing. The discovery of gold mineralization in this area to the
south of the Juby Main Zone opens up new potential for our extensive
land package," commented Ian Campbell, President and CEO of Temex.
Follow-up prospecting across the gold-in-soil anomalous trend has
discovered several gold-in-bedrock occurrences over an area
approximately 250 metres long by 50 metres wide with individual grab
samples assaying 0.59 g/t gold up to 8.26 g/t gold. Significantly, the
gold mineralization is hosted in highly altered feldspar porphyry and
sedimentary rocks that exhibit iron carbonate alteration and minor
amounts of pyrite similar to the Juby Main Zone. Although near the
limits of a Spectral Induced Polarization survey conducted earlier in
2011, the anomalous gold in soil and bedrock zone occurs along the
margin of a moderate chargeability and resistivity anomaly with an area
of low chargeability and resistivity.
As field conditions permit, additional prospecting will be done to
follow-up on the new gold zones prior to diamond drill testing.
Ian Campbell, P. Geo., President and CEO of the Company, is the
designated "qualified person" (within the meaning of National
Instrument 43-101) responsible for the preparation of this news
About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio
of precious metals properties in northeastern Ontario, a world class
mining district. Temex is exploring its Timmins Whitney Property, in
partnership with Goldcorp, and is expanding its NI 43-101 gold resource
at the Juby Gold Project (Note 1) with an updated resource estimate
planned for fall 2011. The Juby Main Zone has a resource of 14.1
million tonnes at a grade of 1.36 g/t gold for 614,000 ounces of gold
in the Indicated category and 18.3 million tonnes at a grade of 1.14
g/t gold for 602,000 ounces of gold in the Inferred category, both at a
cut-off grade of 0.50 g/t gold. Temex also has a NI 43-101 compliant
resource for tailings material on its Gowganda Silver Project (Note
2). The tailings piles contain a 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.
Information regarding the mineral resource estimate on the Juby Main
Zone is in the Company's news release dated June 15, 2010 and the
technical report filed on SEDAR July 30, 2010. The Mineral Resource
Statement was prepared for Temex by GeoVector Management Inc., Ottawa,
Ontario according to the "CIM Standards on Mineral Resources and
Reserves: Definition and Guidelines" (December, 2005), by Allan
Armitage, Ph.D., P. Geol., and Joe Campbell, B.Sc., 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 according to the "CIM
Standards on Mineral Resources and Reserves: Definition and Guidelines"
(December, 2005), by Allan Armitage, Ph.D., P. Geol., Alan Sexton,
M.Sc., P.Geo. and Joe Campbell, B.Sc., P.Geo., "independent qualified
persons" as defined by NI 43-101.
Forward Looking Statements:
This news release includes certain "forward-looking statements". Such
forward-looking statements involve risks and uncertainties. The
results or events predicted in these forward-looking statements may
differ materially from actual results or events. The Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
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.
PDF with caption: "Widespread Surface Gold on Juby JV Property Northeastern Ontario". PDF available at: http://stream1.newswire.ca/media/2011/11/24/20111124_C8742_DOC_EN_7117.pdf
SOURCE Temex Resources Corp.
For further information:
please visit www.temexcorp.com or email: email@example.com or
phone: 416-862-2246 toll free: 866-373-6287