TEMEX SET TO DRILL LATCHFORD HIGH GRADE GOLD PROJECT
June 27 2011 - 9:29AM
PR Newswire (Canada)
TORONTO, June 27, 2011 /CNW/ -- TSX-V:TME; FWB:TQ1 TORONTO, June
27, 2011 /CNW/ - Temex Resources Corp. (TSX-V: TME) (FWB: TQ1)
("Temex" or "the Company") announces that diamond drilling is set
to begin on its Latchford Gold Project located in northeastern
Ontario. An initial 2,000 metre diamond drill program will test two
priority areas with drill targets selected on combined results of
several field programs which outlined trends of anomalous gold in
bedrock with coincident soil geochemical and induced polarization
and magnetic geophysical anomalies. Highlights: -- Drilling set to
begin within two target areas -- Proterozoic gold system defined by
widespread calcite, hematite and copper enriched fractures and
veins in a region previously known only for silver mining -- Assays
from select bedrock grab samples include 112.29 g/t, 49.75 g/t,
11.64 g/t, 9.14 g/t, 4.53 g/t gold -- Coincident soil and Titan 24
DCIP anomalies within bedrock gold trends to be drill tested The
Latchford Gold Project was initiated following the prospecting
discovery of vein-style bonanza gold mineralization (6,000 g/t gold
or 175 ounces per ton gold) in a block of rock known as the Brett
Boulder. High-grade gold occurs in calcite veins with associated
cobalt-nickel-silver minerals similar to host veins at the Cobalt
and Gowganda silver camps, which produced in excess of 550 million
ounces of silver from Proterozoic aged bonanza silver veins. The
Brett Boulder is located 20 kilometres south of the Cobalt silver
camp sharing a similar geological setting near the unconformity of
flat-lying early Proterozoic rocks of the Cobalt Embayment and
underlying Archean volcanic rocks. A comprehensive field program on
the Brett Property (claims hosting the Brett Boulder) in 2004
identified several drill targets, some of which were tested in a 16
hole drill program. The initial program did not intersect the
bedrock source of the high-grade boulder, however it is still
believed to be from a local bedrock source. Following the 2004
program, the Rib Lake Property, contiguous to the south and within
75 metres of the Brett Boulder discovery, was acquired as a key
exploration property (news release December 18, 2007). Priority
targets have been identified for drill testing during the current
program to locate potential high-grade gold veins. A second target
area located 5 kilometres north of the Brett Boulder, was first
identified in 2009 when prospecting after forestry operations
discovered multiple new gold in bedrock occurrences with selective
grab samples returning gold assays ranging from 0.51 g/t gold up to
and including 4.08 g/t, 4.78 g/t, 5.52 g/t and 11.97 g/t gold (news
release April 07, 2009) from mineralized fractures up to several
centimetres wide. Follow-up work recently expanded the highly
anomalous gold in bedrock trend to the south and east with several
significant individual gold values from grab samples including
112.29 g/t, 49.75 g/t, 11.64 g/t, 9.14 g/t, 6.24 g/t and 4.53 g/t
gold (news release November 24, 2009). The surface extent of this
highly anomalous gold trend has now been expanded to at least 1.5
kilometres by 500 metres and is associated with anomalous copper,
silver and iron oxide mineralization. The host fractures crosscut
flat-lying Proterozoic sediments interpreted to be near the
unconformity with underlying Archean rocks. Detailed soil
geochemical sampling and Titan 24 DCIP geophysical surveys
completed in 2009 and 2010 have identified several coincident high
priority anomalies which are set to be drill tested. 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 exploring its Timmins Whitney Property, in
partnership with Goldcorp, and expanding its NI 43-101 gold
resource at the Juby Gold Project (Note 1, news release June 15,
2010) with an updated resource estimate planned for fall
2011. Temex also has a NI 43-101 compliant resource for
tailings piles on its Gowganda Silver Project of 1,940,000 tonnes
grading 47.5 g/t silver for ~2,960,000 contained ounces of silver
in an Indicated category using a cut-off grade of 10.0 g/t silver
(Note 2, news release June 8, 2011). Note 1: Information regarding
the mineral resource estimate on the Juby Main Zone can be found on
the Company's news release dated June 15, 2010, and the technical
report filed on SEDAR, dated July 30, 2010. The Mineral Resource
Statement for Juby was constructed 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, Ph.D., P. Geol. and Joe
Campbell, P.Geo., both "independent qualified persons" as defined
by NI 43-101. Note 2: Information regarding the mineral resource
estimate in the tailings piles located on the Gowganda Silver
Project can be found on the Company's news release dated June 8,
2011. The NI 43-101 will be filed on SEDAR within 45 days of the
date of the release. The Mineral Resource Estimate 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, Ph.D., P.
Geol., Alan Sexton, P.Geo. and Joe Campbell, P.Geo., all
"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. 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/June2011/27/c9306.html p
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href="mailto:info@temexcorp.com"info@temexcorp.com/a or phone:
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