TORONTO, Jan. 10 /CNW/ - Temex Resources Corp. (TSX-V: TME, FWB: TQ1)
("Temex" or "the Company") announces that diamond drilling is set to
commence immediately on its Juby Joint Venture Property held with
Goldeye Explorations Ltd. in which Temex holds a 60% interest and is
the operator. A 2,500 metre 15-hole Phase I diamond drill program will
test six target areas discovered during the recently completed surface
Six new priority gold targets to be tested in the emerging Shining Tree
2 km long gold-in-bedrock trend identified south of Juby Main Zone with
coincident IP (induced polarization) anomalies.
Test high-grade surface gold showings (0.01 to 30.6 g/t Au) with
coincident IP chargeability and gold in soil anomalies.
Test strike extension of the 100% owned Juby Main Zone Gold Deposit (>1M
"We are very pleased with the results of our recently completed field
exploration program and the number of quality drill targets that have
been generated on the Joint Venture ground and we are excited about the
upcoming drill program. Our intent is to make new discoveries and
define gold resources that will add to our current resource on our
adjacent 100% owned Juby Main Zone deposit," commented Ian Campbell,
President and CEO of Temex Resources Corp."
The six priority targets include a 2 km long gold trend (grab samples up
to 5.6 g/t Au) with coincident IP anomalies 500 metres south of and
parallel to the Juby Main Zone gold deposit. Historic work dating back
to the 1930's on one portion of this gold trend reported drill
intersections and trench sampling that include up to 2.23 g/t gold over
18.2 metres and 3.20 g/t gold over 12.0 metres.
Drilling will also test the western extension of the Juby Main Zone
where it crosses the Joint Venture ground. Previous drilling by Temex
and Goldeye intersected 1.26 g/t gold over 61.60 metres and 3.63 g/t
gold over 6.76 metres. This zone remains wide open for expansion at
Several targets occur to the west and north of the Juby Main Zone and
are defined by new coincident gold in bedrock and soil anomalies with
coincident IP chargeability anomalies. Rock samples collected include
gold assays from grab samples of 0.01 to 30.6 g/t gold and gold in soil
anomalies of 15 to 420 ppb gold. The northernmost new target is within
800 metres due east of Creso's Minto gold deposit.
The targets surround the Juby Main Zone located on the Company's 100%
owned Juby Lease, host to NI 43-101 compliant Indicated resource of
614,000 ounces of gold grading 1.36 g/t gold at a cut-off grade of 0.50
g/t gold and Inferred resource of 602,000 ounces of gold grading 1.14
g/t gold at a cut-off grade of 0.50 g/t gold.
To view a map of the Juby JV Property please visit: www.temexcorp.com or http://files.newswire.ca/322/Jan2011JubyJV.pdf
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
The Company also announces the grant of an aggregate of 1,950,000
options under the stock option plan to the Company's directors,
management and staff. Each such option may be exercised by the holder
to purchase one common share of the Company at a price of $0.40 per
share for a period of 5 years from the date of grant.
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 focussed on exploring the Timmins Gold
Project, and specifically the property known as Whitney, in partnership
with Goldcorp and at the same time advancing its Juby Gold Project, one
component of which is the 100% owned Juby Lease Property which contains
a National Instrument 43-101 Indicated resource of 614,000 ounces of
gold and an Inferred resource of 602,000 ounces of gold.
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
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 More Information please visit www.temexcorp.com or
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