TEMEX DISCOVERS NEW GOLD ZONE, JUBY GOLD PROJECT
April 12 2011 - 9:01AM
PR Newswire (Canada)
TORONTO, April 12 /CNW/ -- TORONTO, April 12 /CNW/ - Temex
Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or "the Company")
announces a new gold discovery on the Juby Gold Project with drill
hole JJV11-08 intersecting 10.60 metres grading 2.04 g/t gold,
including 4.00 g/t gold over 4.25 metres and 10.42 g/t gold over
0.75 metres. The discovery occurs two kilometres west-northwest
along trend of the 1.2 million ounce Juby Main Zone gold deposit.
The Juby Project is located in the Shining Tree District of
northeastern Ontario which contains the western extension of the
Cadillac Larder Lake regional fault system along which occur the
Malartic and Kirkland Lake Gold camps. Trelawney's 4.2 million
ounce Cote Lake Deposit is 75 kilometres to the west and Northgate
Minerals' 3 million ounce Young-Davidson Mine occurs 40 kilometres
to the northeast at Matachewan. "We are very pleased with the
initial success drill testing exploration targets generated by our
field crews last fall, as our results not only demonstrate the
unexplored nature of the area but also because this discovery is on
a target horizon that may represent a parallel structure to that
which hosts the Juby Main Zone gold deposit. The discovery is wide
open in all directions and will be further drill tested along with
other priority targets. Our exploration strategy is to make
discoveries and define gold resources proximal to the Juby Main
Zone, where two rigs are currently working on expanding the defined
gold resources," commented Ian Campbell, President and CEO of Temex
Resources Corp. JJV11-08 was part of an ongoing winter drill
program testing new exploration targets on the Juby JV Property in
which Temex holds 60% interest. The hole tested a 500 metre long
trend of coincident gold in soil and bedrock, and IP geophysical
anomalies. Gold mineralization occurs with sulphides within albite
altered mafic volcanics in contact with ultramafic rocks, a
favourable contact for many gold deposits. On the Juby JV Property
nine holes have been completed to date on three exploration targets
with assays pending for three holes (see attached table). Holes
JJV11-01 to JJV11-06 tested a two kilometre long gold in bedrock
trend with coincident IP anomalies 500 metres south of, and
parallel to, the Juby Main Zone deposit and encountered variably
anomalous gold mineralization including up to 14.8 metres grading
0.54 g/t gold in JJV11-06 at the west end of this gold trend. Holes
JJV11-03 intersected over 100 metres of silicified Timiskaming
conglomerates similar to alteration at the Juby Main Zone 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 which will be followed-up along with the JJV11-08 area and
remaining targets north of the Juby deposit. The current National
Instrument (NI) 43-101 compliant resource at Juby stands at 614,000
ounces of gold grading 1.36 g/t gold in the indicated category plus
602,000 ounces of gold grading 1.14 g/t gold in inferred resources,
both at a cut-off grade of 0.50 g/t gold. Gold mineralization
occurs within sericite-silica-albite-pyrite altered Timiskaming
sedimentary rocks and feldspar porphyries. 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. Drill
Intersections for Juby JV Property
__________________________________________________________ |Hole_ID
|From (m)|To (m)|Core Length (m)| Au (g/t) |
|________|________|______|_______________|_________________| | | |
| | | |________|________|______|_______________|_________________|
|JJV11-01| 5.00 |12.50 | 7.50 | 0.21 |
|________|________|______|_______________|_________________|
|JJV11-06| 43.00 |57.75 | 14.75 | 0.54 |
|________|________|______|_______________|_________________|
|JJV11-08| 33.50 |44.05 | 10.55 | 2.04 |
|________|________|______|_______________|_________________|
|includes| 33.50 |37.75 | 4.25 | 3.98 |
|________|________|______|_______________|_________________|
|includes| 37.00 |37.75 | 0.75 | 10.42 |
|________|________|______|_______________|_________________| | |
133.00 |143.70| 10.70 | 0.71 |
|________|________|______|_______________|_________________|
|JJV11-02 to 04: weakly anomalous gold values; JJV11-05: no|
|significant values |
|__________________________________________________________|
|JJV11-07, 08, 09: some or all assays pending |
|__________________________________________________________| 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. 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 its Whitney
Property, in partnership with Goldcorp, and expanding its NI 43-101
gold resource at the Juby Gold Project. Temex also has a non NI
43-101 resource on its Gowganda Silver Project of 2.61 million
ounces of silver at a grade of 1.5 oz/t. 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/April2011/12/c3381.html
p please visit a
href="http://www.temexcorp.com"www.temexcorp.com/a or email: a
href="mailto:info@temexcorp.com"info@temexcorp.com/a or phone:
416-862-2246 toll free: 866-373-6287 /p
Copyright