TEMEX INTERSECTS 47.0 METRES GRADING 1.36 G/T GOLD; JUBY GOLD DEPOSIT CONTINUES TO EXPAND
February 03 2011 - 9:00AM
PR Newswire (Canada)
TORONTO, Feb. 3 /CNW/ -- TSX-V:TME; FWB:TQ1 TORONTO, Feb. 3 /CNW/ -
Temex Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or "the
Company") announces additional drill results from ongoing drilling
at its 100% owned Juby gold deposit located in the Shining Tree
gold district of northeastern Ontario. Widely spaced drilling
continues to demonstrate excellent continuity, consistent grades of
gold mineralization and high potential for definition of economic
bulk tonnage resources. Highlights: -- Hole JU10-109: 47.00 metres
of 1.36 g/t gold, including 8.90 metres of 2.23 g/t gold -- Hole
JU10-108: 40.80 metres of 1.12 g/t gold, including 9.00 metres of
2.06 g/t gold -- Deposit significantly extended to west with wide
step-out drilling -- Gold deposit remains open at depth and 1.5 km
along strike to the west Drill intersections for the two holes
reported today are located approximately 125 metres apart with both
holes cutting significant gold mineralization including anomalous
gold over core lengths of close to 100 metres. Hole JU10-109 cut
the gold zone 100 metres west of previous drilling (JU-19) and
significantly extends the Juby deposit westward at depth.
JU10-09 intersected 47.00 metres grading 1.36 g/t gold including
two higher grade sections, 8.90 metres grading 2.23 g/t gold and
16.90 metres of 1.71 g/t gold. JU10-08 cut 40.80 metres grading
1.12 g/t gold with a higher-grade 9.00 metre interval grading 2.06
g/t gold. Significant intersections are reported in the
attached table. The Juby deposit currently contains a National
Instrument (NI) 43-101 compliant Indicated resource of 614,000
ounces of gold grading 1.36 g/t gold and Inferred resource of
602,000 ounces of gold grading 1.14 g/t gold, both at a cut-off
grade of 0.50 g/t gold. The current drilling is focused on
expanding the current resources in the east half of the property
which covers less than one-half of the strike length of the Juby
gold structure. The western 1.5 km strike extent of the structure
remains favourable for resource expansion and will be drilled
commencing in the second quarter of 2011. The disseminated style of
gold mineralization at Juby continues to provide excellent
continuity allowing for wide-spaced drilling to achieve upgraded NI
43-101 gold resources. Gold mineralization occurs within
sericite-silica-albite-pyrite altered Timiskaming sedimentary rocks
and feldspar porphyries. In addition to the ongoing drilling
to expand the Juby Main Zone gold resources, Temex recently
commenced testing several new exploration targets developed from
the 2010 surface exploration program on the Juby Property and the
Juby JV Property in partnership with Goldeye Explorations Ltd.
(news release January 10, 2011). To view a longitudinal section of
the Juby deposit, please visit:
http://files.newswire.ca/322/TemexJubyLong.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 release.
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.
Significant Drill Intersections for Drill Holes JU10-108 and
JU10-109 __________________________________________________ |Hole
|From (m)|To (m)|Core Length (m)|Au (g/t)|
|_________|________|______|_______________|________| | | | | | |
|_________|________|______|_______________|________| |JU10-108 |
478.90 |519.70| 40.80 | 1.12 |
|_________|________|______|_______________|________| |including|
498.00 |507.00| 9.00 | 2.06 |
|_________|________|______|_______________|________| | | | | | |
|_________|________|______|_______________|________| |JU10-109 |
416.80 |423.00| 6.20 | 1.53 |
|_________|________|______|_______________|________| | | 525.00
|572.00| 47.00 | 1.36 |
|_________|________|______|_______________|________| |including|
536.60 |545.50| 8.90 | 2.23 |
|_________|________|______|_______________|________| |and | 549.50
|566.40| 16.90 | 1.71 |
|_________|________|______|_______________|________| Note: Temex
has implemented a quality control (QA/QC) program which includes
the use of standards and blanks. Samples of split NQ core are
transported by Company personnel to Swastika Laboratories in
Swastika, Ontario in sealed bags. The remaining half of the
core is kept as a permanent record and stored at a secure facility
in Gowganda. The core samples are analyzed using a 30 gram
standard fire assay method. Pulp metallic gold assaying is
performed as required on samples where visible gold is observed.
Intervals reported are core lengths. True widths are unknown at
this time. 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 RELEASE. To view this news release
in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/February2011/03/c7474.html
pplease visit a href="http://www.temexcorp.com"www.temexcorp.com/a
orbr/ email: a href="mailto:info@temexcorp.com"info@temexcorp.com/a
orbr/ phone: 416-862-2246 toll free: 866-373-6287/p
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