TORONTO, June 7, 2012 /CNW/ - Temex Resources Corp. (TSXV: TME) (FWB: TQ1) ("Temex" or "the Company") is pleased to announce high grade gold results from the remaining holes drilled during winter to spring 2012 which tested the near-surface of the Upper Hallnor Mine area of the Whitney Property (the "Property") located in Timmins, Ontario.
The results reported today are from a program of 32 holes totaling 5,295 metres drilled along a 600 metre strike length in the Upper Hallnor Mine area targeting the Hallnor South Vein, 1-55 Vein West Extension and Hallnor Footwall zones.
Hallnor South Vein Area
- TW12-205: 3.45 g/t gold over 13.50 metres including 15.15 g/t gold over 0.50 metres
- TW12-207: 4.15 g/t gold over 3.09 metres
1-55 Vein West Extension Area
- TW12-218: 6.25 g/t gold over 3.00 metres
- TW12-222: 9.71 g/t gold over 5.00 metres including 62.30 g/t gold over 0.60 metres
- TW12-223: 2.20 g/t gold over 14.00 metres including 4.07 g/t gold over 6.20 metres
- TW12-224: 5.05 g/t gold over 19.00 metres including 14.86 g/t gold over 6.00 metres and 39.60 g/t gold over 1.00 metre
Hallnor Footwall Area
- TW12-227: 83.40 g/t gold over 1.00 metre
- TW12-230: 1.72 g/t gold over 23.00 metres and 4.22 g/t gold over 6.00 metres including 25.40 g/t gold over 0.90 metres
- TW12-232: 2.30 g/t gold over 16.00 metres including 16.85 g/t gold over 1.00 metre
"We are extremely pleased that our drilling has continued to deliver excellent gold values in multiple zones located in the Upper Hallnor Mine area. The results strongly support our belief in the potential for consistent and widespread zones of gold mineralized material in that area - which are but some of many known zones of gold mineralization remaining on the large Whitney property which hosts six former gold mines," commented Ian Campbell, President and CEO.
The purpose of the program was to delineate additional gold zones that may be amenable to mining. Significant results from each of the zones tested are shown as highlights and tabulated in the table located at the end of this press release.
Since October 2011 a total of 50 holes for 17,750 metres have been drilled in this campaign which is designed to define gold resources that may be mined near surface. Results from the drill program on the Hallnor Mine block will be incorporated into an upcoming National Instrument ("NI") NI 43-101 resource estimate for the Whitney Property. This block contains the rich past producing Hallnor Mine and forms the central part of a 10 million ounce mine trend which has seen large open pit and underground mining operations directly on strike to the east.
Whitney is an advanced gold project that includes 4 km of the prolific Timmins gold trend that has been mined for 100 years and remains the largest gold producing district of Canada. The Whitney property contains numerous near-surface gold targets including the Upper Hallnor; Upper Broulan Reef, C Zone, and Q Zone. The exploration program is being conducted under the joint venture between Temex (60%; operator) and Goldcorp Canada Ltd. (40%).
Karen Rees, P.Geo., Vice President, Exploration of Temex Resources Corp., is the designated qualified person responsible for the preparation of this news release.
Table 1. Significant results from drill holes reported in this release
|Hole_ID||From (m)||To (m)||Core Length (m)||Au (g/t)|
|Hallnor South Vein Area|
|1-55 Vein West Extension Area|
|Hallnor Footwall Area|
Notes: Temex implemented a quality control (QA/QC) program to ensure best practice in sampling and analysis. Samples of split NQ-size core are transported by Company personnel in securely sealed bags for preparation and analysis at ALS Chemex facilities. The remaining half of the core is kept as a permanent record and stored at a secure facility in Timmins. ALS Chemex is an ISO9001-2008 and ISO 17025-2005 registered laboratory. Core samples are analyzed for gold using a 30 gram fire assay with an AA finish and by gravimetric methods. Samples observed by Company personnel to contain visible gold are assayed by metallic screen gold assay. Intervals reported are core lengths. True widths are unknown at this time.
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 its Juby Gold Project. The Juby Main Zone has NI 43-101 compliant resources of 22.3 million tonnes at a grade of 1.30 g/t gold for 934,645 ounces of gold in the Indicated category and 28.2 million tonnes at a grade of 1.00 g/t gold for 905,621 ounces of gold in the Inferred category, both at a cut-off grade of 0.40 g/t gold (Note 1). Temex also has a NI 43-101 compliant resource for tailings material on its Gowganda Silver Project (Note 2). The tailings piles contain a NI 43-101 compliant resource of 1.94 million tonnes grading 47.5 g/t silver for a contained resource of 2.96 million ounces of silver in the Indicated category.
- Information regarding the mineral resource estimate on the Juby Main Zone is in the Company's news release dated January 16, 2012 and the technical report filed on SEDAR February 28, 2012. The Mineral Resource Statement 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 Joe Campbell, BSc, P.Geo., Alan Sexton, MSc, P.Geol., and Allan Armitage, PhD, P.Geol., "independent qualified persons" as defined by NI 43-101.
- Information regarding the mineral resource estimate in the tailings piles located on the Gowganda Silver Project is in the Company's news release dated June 8, 2011 and the technical report filed on SEDAR July 21, 2011. The Mineral Resource Statement 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, PhD, P.Geol., Alan Sexton, MSc, P.Geo. and Joe Campbell, BSc, P.Geo., "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.
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