TSX Venture Exchange: TME, Frankfurt Exchange: TQ1
TORONTO, Nov. 24 /CNW/ - Temex Resources Corp. (TSX Venture:TME, Frankfurt:TQ1) ("Temex" or "the Company") announces the discovery of a number of new gold occurrences, including high grade results of 112.29 g/t and 49.75 g/t gold on the Latchford Gold Project ("LGP") located in northeastern Ontario. These new occurrences extend the gold in bedrock trend discovered late last year by prospecting (news release April 7, 2009) further to the south and east where it remains wide open.
- Individual assays from grab samples include 112.29 g/t, 49.75 g/t,
11.64 g/t, 9.14 g/t and 4.53 g/t gold
- Gold mineralization occurs within fractures cutting Proterozoic basal
sediments near unconformity with Archean basement rocks
- Soil survey completed with assays pending; geophysics set to begin
- Diamond drill targets being prioritized
The current program has expanded the area of gold in bedrock mineralization to the south and east with several significant individual gold values from grab samples ranging from 0.51 g/t up to 4.53 g/t, 6.24 g/t, 9.14 g/t, 11.64 g/t, 49.75 g/t and 112.29 g/t gold. These gold values build on the initial discovery of this new trend made late in 2008 from which grab samples included gold assays of 4.08 g/t, 4.78 g/t, 5.52 g/t and 11.97 g/t gold from similar rock types. Gold mineralization is directly associated with gossanous fractures, up to several cm wide, cutting Proterozoic sediments interpreted to be near the unconformity with Archean rocks, and have associated anomalous copper, silver and iron oxide mineralization. Updated graphics are available on the Company website at www.temexcorp.com.
Commented Ian Campbell, President and CEO: "We are very excited about the gold grades of these new discoveries and have intensified our exploration program within this target area. The results reported today are the highest gold grades yet from a bedrock source within this new trend and clearly indicate the presence of a gold-copper alteration system in a similar geological environment to the Cobalt Silver Camp just to the north."
Other components of the program completed this fall included linecutting and soil geochemical sampling with a total of 1055 B-horizon soil samples being collected for which analytical results are pending. Ongoing field work includes prospecting and geological mapping, with induced polarization geophysical surveying being planned within the target zone to prioritize drill targets.
The LGP was initiated following the discovery of vein-style bonanza gold mineralization ((greater than)6,000 g/t gold) 5 kilometres to the south when detailed geochemical analyses demonstrated that the abundant visible gold in the sample was associated with cobalt-nickel-arsenide minerals in calcite veins and was determined to have an origin similar to that of the ultra high grade silver veins from the world-famous Cobalt and Gowganda silver districts from which past production has exceeded 500 million ounces of silver.
Ian Campbell, P.Geo., is the designated Qualified Person responsible for the preparation of this news release. Temex is a Canadian exploration company advancing its precious metals projects in Ontario.
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 *
SOURCE Temex Resources Corp.
For further information: For further information: Ian Campbell, President and CEO or Bruce Durham, Executive Chairman at (416) 862-2246 or visit www.temexcorp.com