TSX Venture Exchange: TME, Frankfurt Exchange: TQ1
TORONTO, Oct. 15 /CNW/ - Temex Resources Corp. (TSX Venture Exchange:TME,
Frankfurt:TQ1) ("Temex" or "the Company"). Temex and its partners announce
considerable progress related to their recent activities in the area of, and
immediately adjacent to the Noront Double Eagle Ni-Cu-PGE Discovery in the
Webequie area of northern Ontario.
Claim acquisition activities have now been completed under the original
joint venture with MacDonald Mines Exploration Ltd. ("MacDonald") although
staking of additional target areas continues with other parties. A number of
large claim groups were acquired by Temex and its partners before and since
the release of the initial assay results from Noront's significant new
Ni-Cu-PGE discovery. A total of approximately 1500 claim units covering some
24,000 hectares were acquired under the initial joint venture arrangement. In
some instances the claim boundaries are adjacent to the boundary of the Noront
Double Eagle Property and in other instances the claims are well removed from
the main Noront Property covering features thought to be geological
environments similar to the geological environment that host the Noront
Ni-Cu-PGE discovery. It is believed that the claims acquired have never
subjected to any previous exploration for Ni-Cu-PGE mineralization and for the
most part the properties have not been covered by any kind of modern magnetic
and electromagnetic geophysical survey. Since the entire area is essentially
blanketed with overburden cover even near surface mineralization cannot be
directly detected. The exceptions to the lack of available basic geophysical
survey data are the claim groups immediately adjacent to the Noront, Fancamp
and Spider et al properties where some modern airborne geophysical survey data
exists. This limited available data indicates the presence of geophysical
targets that are similar in scope the geophysical features near the Double
Eagle Ni-Cu-PGE discovery that warrant diamond drill testing and which are
expected to be drill tested over the ensuing two months.
Comprehensive Exploration Program Underway
Based on the significant results recently reported by Noront, Temex and
MacDonald have dedicated significant resources to rapidly advancing the
timelines for an aggressive initial exploration program on these extensive new
properties over the period from now until the end of the year. Additional
exploration will be undertaken in early 2008.
The initial exploration program will consist of a combination of ground
and airborne geophysical surveying followed immediately by diamond drilling.
The partners report that airborne geophysical surveying will commence this
week and further report that geophysical crews and support staff have been
dispatched to the base of operations in the town of Webequie. The diamond
drill equipment required for the exploration program is already on site and it
is expected that drilling operations will commence in approximately two weeks.
Helicopter supported staking crews continue to acquire additional mining
claims at this time pursuant to new joint venture staking arrangements.
Bruce Durham, P.Geo., is the designated Qualified Person responsible for
the preparation of this News Release.
Temex is a well-funded Canadian exploration company focused on advancing
its precious metal, diamond, nickel and uranium projects in Manitoba and
On behalf of the Board of Directors,
President and CEO
(*)The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release(*)
For further information:
For further information: Ian Campbell or Bruce Durham, Executive
Chairman at (416) 862-2246 or visit the Company's website at