TORONTO, June 27, 2011 /CNW/ - Temex Resources Corp. (TSX-V: TME) (FWB:
TQ1) ("Temex" or "the Company") announces that diamond drilling is set
to begin on its Latchford Gold Project located in northeastern Ontario.
An initial 2,000 metre diamond drill program will test two priority
areas with drill targets selected on combined results of several field
programs which outlined trends of anomalous gold in bedrock with
coincident soil geochemical and induced polarization and magnetic
Drilling set to begin within two target areas
Proterozoic gold system defined by widespread calcite, hematite and
copper enriched fractures and veins in a region previously known only
for silver mining
Assays from select bedrock grab samples include 112.29 g/t, 49.75 g/t, 11.64 g/t, 9.14 g/t, 4.53 g/t gold
Coincident soil and Titan 24 DCIP anomalies within bedrock gold trends
to be drill tested
The Latchford Gold Project was initiated following the prospecting
discovery of vein-style bonanza gold mineralization (>6,000 g/t gold or 175 ounces per ton gold) in a block of rock known as the Brett Boulder. High-grade gold occurs in calcite veins with
associated cobalt-nickel-silver minerals similar to host veins at the
Cobalt and Gowganda silver camps, which produced in excess of 550
million ounces of silver from Proterozoic aged bonanza silver veins.
The Brett Boulder is located 20 kilometres south of the Cobalt silver
camp sharing a similar geological setting near the unconformity of
flat-lying early Proterozoic rocks of the Cobalt Embayment and
underlying Archean volcanic rocks.
A comprehensive field program on the Brett Property (claims hosting the
Brett Boulder) in 2004 identified several drill targets, some of which
were tested in a 16 hole drill program. The initial program did not
intersect the bedrock source of the high-grade boulder, however it is
still believed to be from a local bedrock source. Following the 2004
program, the Rib Lake Property, contiguous to the south and within 75
metres of the Brett Boulder discovery, was acquired as a key
exploration property (news release December 18, 2007). Priority targets
have been identified for drill testing during the current program to
locate potential high-grade gold veins.
A second target area located 5 kilometres north of the Brett Boulder,
was first identified in 2009 when prospecting after forestry operations
discovered multiple new gold in bedrock occurrences with selective grab
samples returning gold assays ranging from 0.51 g/t gold up to and
including 4.08 g/t, 4.78 g/t, 5.52 g/t and 11.97 g/t gold (news release
April 07, 2009) from mineralized fractures up to several centimetres
wide. Follow-up work recently expanded the highly anomalous gold in
bedrock trend to the south and east with several significant individual
gold values from grab samples including 112.29 g/t, 49.75 g/t, 11.64
g/t, 9.14 g/t, 6.24 g/t and 4.53 g/t gold (news release November 24,
The surface extent of this highly anomalous gold trend has now been
expanded to at least 1.5 kilometres by 500 metres and is associated
with anomalous copper, silver and iron oxide mineralization. The host
fractures crosscut flat-lying Proterozoic sediments interpreted to be
near the unconformity with underlying Archean rocks. Detailed soil
geochemical sampling and Titan 24 DCIP geophysical surveys completed in
2009 and 2010 have identified several coincident high priority
anomalies which are set to be drill tested.
Jari Paakki, P. Geo., Vice-President, Exploration 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 expanding its NI 43-101 gold resource at
the Juby Gold Project (Note 1, news release June 15, 2010) with an
updated resource estimate planned for fall 2011. Temex also has a NI
43-101 compliant resource for tailings piles on its Gowganda Silver Project of 1,940,000 tonnes grading 47.5 g/t silver for ~2,960,000 contained ounces
of silver in an Indicated category using a cut-off grade of 10.0 g/t
silver (Note 2, news release June 8, 2011).
Note 1: Information regarding the mineral resource estimate on the Juby
Main Zone can be found on the Company's news release dated June 15,
2010, and the technical report filed on SEDAR, dated July 30, 2010. The
Mineral Resource Statement for Juby was constructed 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,
P.Geo., both "independent qualified persons" as defined by NI 43-101.
Note 2: Information regarding the mineral resource estimate in the
tailings piles located on the Gowganda Silver Project can be found on
the Company's news release dated June 8, 2011. The NI 43-101 will be
filed on SEDAR within 45 days of the date of the release. The Mineral
Resource Estimate 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, P.Geo. and Joe Campbell,
P.Geo., all "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 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
SOURCE Temex Resources Corp.
For further information:
For more information please visit www.temexcorp.com or email: email@example.com or phone: 416-862-2246 toll free: 866-373-6287