TSX Venture Exchange: TME, Frankfurt Exchange: TQ1 NR01-2010
TORONTO, Feb. 11 /CNW/ - Temex Resources Corp. (TSX Venture: TME, Frankfurt: TQ1) ("Temex" or "the Company") reports that it has completed the second part of a phase one diamond drilling program on the Croxall Property located in the West Timmins Gold District, contiguous to the eastern boundary of Lake Shore Gold, and in close proximity to past and current gold producers (location map www.temexcorp.com). Temex has completed 8 shallow holes for 2863.0 metres of diamond drilling on various targets across the 60 mining claim unit Property.
Drill hole TC09-08 was drilled to undercut hole TC09-01 which intersected a red altered, gold-bearing porphyry in the northern part of the Property (news release Sept 17, 2009) from which an interval containing visible gold assayed 5.28 g/t gold over 1.90 metres. Similar altered porphyry containing molybdenite mineralization was intersected approximately 100 metres vertically below and assayed 1.09 g/t gold over 1.40 metres at 354.00 metres downhole. This intersection represents the deepest hole drilled on the Croxall Property to date. A second, much larger altered porphyry intrusion intersected near the top of the hole assayed 4.15 g/t gold over 1.00 metres, while a 1.30 metre wide interval of ultramafic rock adjacent to this porphyry assayed 1.55 g/t gold over 1.30 metres.
Commented Ian Campbell, President and CEO: "Our drilling confirms the presence of widespread mineralization and a number of altered felsic porphyry units associated with the gold mineralization. This is significant as the recent discoveries by Lake Shore Gold to the west occur in porphyry units well below the 300 metre vertical level and the Croxall Property has had only one hole drilled to the 300 metre level. Additionally, the 30+ million ounce Hollinger-McIntyre-Coniarum gold mines 25 kilometres to the east are all directly associated with mineralized porphyries. Further drilling will be required to test for gold mineralization associated with these porphyry bodies which are wide open in all directions."
Drill holes TC09-02 to TC09-07 were drilled in the central and southern parts of the Property in previously untested areas and areas known to have significant alteration and anomalous gold mineralization. Each of the holes intersected broad areas of alteration, local shearing and quartz-ankerite veining and anomalous gold values. Hole TC09-04 discovered a broad gold-bearing zone within altered sediments wedged between two ultramafic intrusive units that assayed 0.51 g/t gold over a core length of 14.00 metres.
Temex has the option to earn a 100% interest in the Croxall Property, which covers 2,400 acres of highly favourable stratigraphy north of the Porcupine-Destor Fault, where the majority of the gold production has occurred in the 65 million ounce Timmins Gold Camp.
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 metals projects in northeastern Ontario.
On behalf of the Board of Directors,
President and CEO
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.
SOURCE Temex Resources Corp.
For further information: For further information: contact Ian Campbell, President and CEO or Bruce Durham, Executive Chairman at (416) 862-2246 or visit www.temexcorp.com