TSX Venture Exchange:TME, Frankfurt Exchange:TQ1
TORONTO, Sept. 17 /CNW/ - Temex Resources Corp. (TSX Venture:TME, Frankfurt:TQ1) ("Temex" or "the Company") announces that it has intersected significant gold mineralization including visible gold within an altered porphyry in the first hole drilled on the recently acquired Croxall Property (news release June 25, 2009), located in the emerging West Timmins Gold District. The mineralization is significant due to its occurrence in an altered porphyry unit and represents the highest gold grades to date yielded from the Croxall Property and is wide open in all directions.
- Visible gold in altered porphyry unit yielded 7.81 g/t gold over 1.10
metres and 5.28 g/t gold over 1.90 metres down-dip of historical
intersection of 2.88 g/t gold over 0.60 metres
- Altered gold-bearing porphyries may be related to other known
porphyries further to the west at the West Timmins Mining Inc. ("West
Timmins Mining") and Lake Shore Gold Corp. ("Lake Shore") properties
- Widespread zones of intense iron carbonate-sericite alteration,
shearing and pyrite-arsenopyrite mineralization within favourable
stratigraphy north of the Porcupine-Destor Fault Zone are currently
being drill-tested at depth
The Croxall Property covers approximately 2.5 kilometres 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, and is due east and along strike of the Thorne Property currently being explored by West Timmins Mining. There has been a significant amount of renewed interest in exploration within this area recently with the discovery of substantial gold mineralization on the Lake Shore and West Timmins Mining properties.
The first five of seven planned drill holes have been completed as part of a 2000 metre Phase I diamond drilling campaign. This program of widely spaced holes is being drilled across the property in order to evaluate broad zones of strong sericite-carbonate alteration, shearing, sulphide mineralization, and porphyry intrusions associated with anomalous gold values up to and including 2.88 g/t gold over 0.60 metres, 2.03 g/t gold over 0.91 metres and 1.59 g/t over 1.5 metres. The program is also designed to undercut some of the historical gold intercepts at depth.
Hole TC09-01 was drilled to undercut historical drill hole P0-88-2 which had yielded 2.88 g/t gold over 0.60 metres within a porphyry intrusion. TC09-01 intersected a similar 4.4 metre wide interval of altered porphyry, approximately 100 metres further down dip and yielded 5.28 g/t gold over 1.90 metres including 7.81 g/t over 1.10 metres. The altered porphyry interval contained minor quartz, pyrite, molybdenite, sphalerite and fine visible gold. Hole TC09-02 tested a favourable sediment-basalt contact zone and encountered substantial amounts of sulphides and alteration but no significant gold values.
Commented Ian Campbell, President and CEO "We view the results of the first hole as a very good start to the exploration of the Croxall Property as they demonstrate the potential for the grades in gold mineralization to increase at depth and more specifically that the gold mineralization, including visible gold is directly associated with an altered porphyry unit which is a similar geological environment to the new discoveries just to the west; this porphyry unit is wide open in all directions and additional drilling on this and other targets is required given the success of drilling at depth on the neighboring properties of Lake Shore and West Timmins Mining."
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 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 as required. Intervals reported are core lengths. True widths are unknown at this time.
* The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news 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