Temex Discovers Widespread Surface Gold Mineralization up to 8.26 g/t Gold on Juby JV Property Northeastern Ontario
November 24 2011 - 9:00AM
PR Newswire (Canada)
TSX-V:TME; FWB:TQ1 TORONTO, Nov. 24, 2011 /CNW/ - Temex Resources
Corp. , (FWB: TQ1) ("Temex" or "the Company") reports that
prospecting has discovered several new surface gold zones on its
Juby Joint Venture ("JV") Property located near Gowganda in
northeastern Ontario. These new zones occur approximately 1.5
kilometres southwest of the Juby Main Zone and appear to represent
an important parallel structural trend to the main Tyrrell
Structural Zone upon which the majority of the major gold
occurrences in the area are centered. A program of B horizon soil
sampling conducted in August delineated a strong gold-in-soil
anomalous zone with individual samples returning values ranging
from 28 ppb gold to 1,747 ppb gold (1.7 g/t gold). The
anomalous samples define a trend with a minimum strike length of
1.5 kilometres and width of 0.5 kilometres in an area that has
received virtually no exploration to date. These are by far the
strongest gold in soil anomalies detected to date on both the Juby
and Juby JV properties. "We are very pleased with the success of
this grass roots exploration program with the addition of several
new high priority targets for drill testing. The discovery of gold
mineralization in this area to the south of the Juby Main Zone
opens up new potential for our extensive land package," commented
Ian Campbell, President and CEO of Temex. Follow-up prospecting
across the gold-in-soil anomalous trend has discovered several
gold-in-bedrock occurrences over an area approximately 250 metres
long by 50 metres wide with individual grab samples assaying 0.59
g/t gold up to 8.26 g/t gold. Significantly, the gold
mineralization is hosted in highly altered feldspar porphyry and
sedimentary rocks that exhibit iron carbonate alteration and minor
amounts of pyrite similar to the Juby Main Zone. Although near the
limits of a Spectral Induced Polarization survey conducted earlier
in 2011, the anomalous gold in soil and bedrock zone occurs along
the margin of a moderate chargeability and resistivity anomaly with
an area of low chargeability and resistivity. As field conditions
permit, additional prospecting will be done to follow-up on the new
gold zones prior to diamond drill testing. Ian Campbell, P. Geo.,
President and CEO 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 is expanding its NI 43-101 gold resource at the Juby
Gold Project (Note 1) with an updated resource estimate planned for
fall 2011. The Juby Main Zone has a resource of 14.1 million
tonnes at a grade of 1.36 g/t gold for 614,000 ounces of gold in
the Indicated category and 18.3 million tonnes at a grade of 1.14
g/t gold for 602,000 ounces of gold in the Inferred category, both
at a cut-off grade of 0.50 g/t gold. Temex also has a NI
43-101 compliant resource for tailings material on its Gowganda
Silver Project (Note 2). The tailings piles contain a
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. Notes: 1. Information regarding the mineral
resource estimate on the Juby Main Zone is in the Company's news
release dated June 15, 2010 and the technical report filed on SEDAR
July 30, 2010. 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, Ph.D., P.
Geol., and Joe Campbell, B.Sc., P.Geo., "independent qualified
persons" as defined by NI 43-101. 2. 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, Ph.D., P. Geol., Alan Sexton,
M.Sc., P.Geo. and Joe Campbell, B.Sc., 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.
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. SOURCE Temex Resources Corp. PDF with
caption: "Widespread Surface Gold on Juby JV Property Northeastern
Ontario". PDF available at:
http://stream1.newswire.ca/media/2011/11/24/20111124_C8742_DOC_EN_7117.pdf
Temex Resources Corp. CONTACT: please visit www.temexcorp.com or
email: info@temexcorp.com orphone: 416-862-2246 toll free:
866-373-6287
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