TSX Venture Exchange: TME, Frankfurt Exchange: TQ1
TORONTO, Jan. 20 /CNW/ - Temex Resources Corp. (TSX Venture: TME,
Frankfurt: TQ1) ("Temex") provides further dril results from the ongoing
15,000 metre diamond drill program on the Whitney Township Property (the
"Property") located in the Timmins Gold Camp. The third wedge hole drilled off
the initial pilot hole intersected the 13 Vein consisting of a broad quartz
vein and stringer zone which yielded 86.18 g/t gold over 0.50 metres within a
larger zone of 5.90 g/t gold over 9.1 metres (see note below). The hole
targeted the 19 Vein approximately 50 metres west and down plunge of the pilot
hole 19 Vein intersection, which yielded 21.1 g/t gold over 6.55 metres
including 271 g/t gold over 0.50 metres. The 19 Vein structure was intersected
below the 13 Vein and yielded a 7.3 metre core length of strong quartz veining
with associated sulphides and returned low gold values. The significance of
the drill intersections reported today is:
- High grade 13 Vein intersection represents large step-out from a
historic hole which intersected 0.65 opt gold over 15 feet
- 19 Vein structure shows strong quartz veining and sulphides
- Drilling continues to intersect high grade gold in the various vein
structures including frequent visible gold
The 13 Vein intersection reported today occurs approximately 250 metres
west and down plunge of an historical drill hole which yielded two closely
spaced drill intersections of 22.29 g/t gold over 4.57 metres (0.65 opt gold
over 15 feet) and 207.77 g/t gold over 0.61 metres (6.06 opt gold over 2
feet). Significantly, there has been very little drilling west of the former
mine workings to test the 13 Vein system and the zone remains untested to the
west. 3-Dimensional modelling indicates that the intersection reported today
may represent the extension of the west plunging 13 Vein which was intersected
in several underground drill holes in the Lower Hallnor Mine, south of the 22
Level West drift, but not previously developed.
Commented Ian Campbell, President and CEO: "We continue to be very
pleased about the excellent early results from our deep drill program at
Hallnor with this latest intersection on the 13 Vein underscoring the
significant potential of this Property to host multiple undeveloped high grade
gold bearing veins and vein systems in close proximity to existing underground
Drilling by the Company to date has focused on the south limb of the
folded western extension of the 19 Vein where production totalled 650,000 tons
at 0.42 opt gold. The current drill program is targeting the down plunge
extension of the 19 Vein that, along with several other vein systems, remains
open immediately to the west of the former Hallnor Mine property boundary.
Mining was terminated at the former boundary in the early 1970's due to
non-ownership of the adjacent claims and as a result the area currently being
drill tested by the Company was not previously explored.
The Property occurs within a 4 kilometre, 10+ million gold ounce mine
trend and includes the former Broulan Reef and Hallnor Mines, the latter of
which was one of the highest grade gold mines in the Timmins camp with
historic production totalling more than 1.65 million ounces of gold at an
average grade of 13.71 g/t (0.40 opt).
Henry Hutteri, 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.
Note: Temex has implemented a quality control (QA/QC) program which
includes the use of standards and blanks for the Whitney Township Property.
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.
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: Ian Campbell, President and CEO or Bruce
Durham, Executive Chairman at (416) 862-2246 or visit www.temexcorp.com