Temex intersects high grade gold 648 g/t, Whitney Property, Timmins

TSXV:TME; FWB:TQ1

TORONTO, Sept. 28, 2011 /CNW/ - Temex Resources Corp. (TSXV: TME) (FWB: TQ1) ("Temex" or "the Company") reports that surface exploration drilling on the Broulan Reef Mine area of the Whitney Property (the "Property") has returned additional high grade assay results over significant core widths. Drilling followed up on previous shallow drilling by Temex that had intersected 33.46 g/t gold over 5.40 metres and 3.58 g/t gold over 6.60 metres and the holes reported today have successfully extended the area of high grade gold mineralization a further 210 metres along strike to the east.

Highlights:

  • TW11-139: 3.00 metres of 4.51 g/t gold including 1.00 metres grading 13.37 g/t gold
  • TW11-145: 6.80 metres of 3.97 g/t gold including 2.10 metres grading 10.53 g/t gold
  • TW11-145: 8.80 metres of 37.90 g/t gold including 0.50 metres grading 648.13 g/t gold
  • TW11-145: 6.00 metres of 5.44 g/t gold including 0.90 metres grading 13.65 g/t gold
  • TW10-147: 2.30 metres of 8.79 g/t gold including 0.50 metres grading 38.01 g/t gold
  • TW11-148: 4.00 metres of 13.55 g/t gold including 0.50 metres grading 44.04 g/t gold

Eleven holes were drilled to continue shallow testing of the hanging wall and foot wall areas of the former Broulan Reef Mine workings to explore for additional near surface flat vein and quartz stockwork zones outside areas where historical, non-compliant with National Instrument 43-101 ("NI 43-101") resource blocks defined by previous operators remain. These types of zones have historically had very erratic and nuggety gold mineralization but were successfully bulk mined from underground with significantly higher grades being obtained than those indicated by drilling.

The majority of the holes being reported today intersected quartz-carbonate veins and stringer zones from within strongly carbonate altered volcanic rocks ranging from 20 to 200 metres vertical from surface with several reporting visible gold. Significant assays are reported in the following table; results are reported in core lengths as the true widths of the zones are unknown.

Hole TW11-145 intersected several quartz and quartz-carbonate stockwork zones, with some individual veinlets containing several occurrences of visible gold. One of the intervals reported averaged 37.90 g/t gold over 8.80 metres and is within a wide zone of quartz vein / stockwork. Within that interval, one sample assayed 648.13 g/t gold from an interval where the highest concentration of visible gold was noted in the core. All samples from this stockwork zone returned anomalous gold up to 3.56 g/t gold with several samples containing visible gold, highlighting the nugget effect which was typical of the gold mineralization in the Broulan Reef Mine where some veins reported extremely high grade assays and similar veins within the same mineralized zone did not.

"These are the best drill results from our drilling in the Broulan Reef area and additional drilling will be initiated to fully define the geometry and extent of the zones.  We are exceptionally pleased with our drilling program, which is also testing a number of priority targets in the Upper Hallnor Mine area located 2 kilometres to the east, continues to deliver significant gold intersections demonstrating the excellent potential to define gold resources proximal to infrastructure in many areas of this high quality Property," commented Ian Campbell, President and CEO.

The results reported today are from a 12,000 metre drill program initiated earlier this year which is testing priority targets in the upper areas of the Broulan Reef and Hallnor Mines as well as high priority exploration targets on the Property, located in the heart of the Timmins Gold Camp.  Assays are pending on several other holes.

The Property hosts three past producing mines including the high grade Hallnor Mine which produced 1.7 million ounces of gold at an average grade of 0.40 ounce per ton (13.7 g/t) gold.  Exploration is being conducted by the Company under the terms of a joint venture agreement between Temex (60%) and Goldcorp Canada Ltd. (40%).

To view graphic, please see link: http://files.newswire.ca/322/WhitneyProp2011.pdf

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 release.

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 expanding its NI 43-101 gold resource at the Juby Gold Project (news release June 15, 2010; SEDAR July 30, 2010) 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 (news release June 15, 2010).1  Temex also has a NI 43-101 compliant resource for tailings material on its Gowganda Silver Project (news release June 8, 2011; SEDAR July 21, 2011).  The tailings piles contain 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.2

Notes:

  1. Information regarding the mineral resource estimate on the Juby Main Zone can be found 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.

  2. Information regarding the mineral resource estimate in the tailings piles located on the Gowganda Silver Project can be found 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.

Table 1.  Significant results from drill holes reported in this release

Hole_ID From (m) To (m) Core Length
(m)
Au (g/t)
Broulan Reef - Footwall Zone      
TW11-139 65.00 68.00 3.00 4.51
includes 65.00 66.00 1.00 13.37
TW11-145 230.00 236.80 6.80 3.97
includes 234.70 236.80 2.10 10.53
  247.50 253.50 6.00 5.44
includes 250.10 250.60 0.50 25.27
includes 250.60 251.50 0.90 13.65
  270.50 279.30 8.80 37.90
includes 277.50 278.00 0.50 648.13
TW11-146 35.10 40.00 4.90 1.19
TW11-147 31.00 33.30 2.30 8.79
includes 32.80 33.30 0.50 38.01
  170.40 173.60 3.20 1.43
TW11-148 76.80 80.80 4.00 13.55
Includes 76.80 77.80 1.00 44.04
TW11-149 167.00 172.60 5.60 1.71
Includes 170.00 170.50 0.50 13.83
TW11-152 192.50 194.00 1.50 1.14
TW11-153 286.80 288.00 1.20 2.94

Notes: Temex has implemented a quality control (QA/QC) program which includes the use of standards and blanks. Samples of split NQ core are transported by Company personnel to Swastika Laboratories located in Swastika, Ontario in sealed bags. The remaining half of the core is kept as a permanent record and stored at a secure facility in Timmins.  The core samples are analyzed using a 30 gram standard fire assay method. Pulp metallic gold assaying is performed as selected on samples where visible gold is observed. Intervals reported are core lengths. True widths are unknown at this time. Estimates if reported are historical in nature and are not in compliance with NI 43-101 "Standards of Disclosure for Mineral Deposits" and therefore should not be relied upon.

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 otherwise.

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:

Please visit www.temexcorp.com or email: info@temexcorp.com or
phone: 416-862-2246   toll free: 866-373-6287

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