Temex Intersects 4.95 g/t Gold over 20.0 Metres Near Surface at Whitney Gold Project, Timmins
February 09 2012 - 9:00AM
PR Newswire (Canada)
TORONTO, Feb. 9, 2012 /CNW/ - Temex Resources Corp. ("Temex" or
"the Company") is pleased to announce the latest exploration
results from the Whitney Gold Project. 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. Temex is conducting an aggressive
diamond drill program to discover near-surface economic gold zones
on the Whitney property. The Whitney property contains
numerous near-surface gold targets including the Upper Broulan Reef
Zone, C Zone, and Q Zone. Drill Highlights: -- 4.95 g/t g/t gold
over 20.00 metres including12.92 g/t gold over 7.00 metres in
C-Zone -- 1.21 g/t gold over 34.10 metres including17.26 g/t over
1.00 metre at Upper Broulan Reef -- 1.35 g/t gold over 15.80 metres
at Upper Broulan Reef "These results further substantiate our
expectation that significant amounts of near surface gold
mineralization remain on the Whitney property and are consistent
with the fact that this property is the site of some of the
highest-grade historic underground gold mines in the Timmins area",
said Ian Campbell, President and CEO. "Given the robust gold price,
Timmins is experiencing a renewed focus on open pit gold mining
especially in areas containing historic underground gold mining
sites." Upper Broulan Reef Zone These recent drill results provide
more evidence that substantial gold mineralization occurs near the
former producing Upper Broulan Reef Mine, in the hanging wall and
footwall areas. Holes TW11-134 and TW11-137 encountered gold
mineralization with TW11-134 intersecting 3.71 g/t gold over 1.00
metre and 3.60 g/t gold over 0.80 metres and TW11-137 intersecting
1.21 g/t gold over 34.10 metres including 17.26 g/t gold over 1.00
metre and including 6.16 g/t gold over 0.50 metres. The results
reported today are from holes additional to those previously
announced (news release September 28, 2011) in the Upper Broulan
Reef Mine area which included 37.90 g/t gold over 8.80 metres and
3.97 g/t gold over 6.80 metres. These types of zones have
historically had nugget-type gold mineralization, some of which
were successfully bulk mined from underground with significantly
higher grades being obtained from mining than those grades
indicated by drilling. Two holes tested the Reef Zone which is
believed to be the western extension of the Broulan Reef Mine, at
shallow depths intersecting 1.30 g/t gold over 6.10 metres in
TW11-126, and 1.35 g/t gold over 15.80 metres including 4.41 g/t
gold over 3.70 metres including 21.22 g/t gold over 0.70 metres in
hole TW11-127. C Zone The C Zone is near-surface gold
mineralization located east-northeast of the former Broulan Reef
Mine and northwest of the Hallnor Mine and appears to represent
classic hook vein geometry similar to the high grade veins mined in
the volcanic rocks at depth in the Hallnor Mine. Drill holes
TW11-174 and TW11-175 tested the down-plunge potential and geometry
of the hook vein. Both holes encountered multiple vein zones
with hole TW11-174 intersecting 4.95 g/t gold over 20.00 metres
including 12.92 g/t gold over 7.00 metres. Hole TW11-175
successfully intersected several quartz vein structures but with
low gold values. Previous significant drill results from the C Zone
include 3.73 g/t gold over 30.30 metres including 4.47 g/t gold
over 22.20 metres, 1.51 g.t gold over 31.00 metres and 3.64 g/t
gold over 15.0 metres. All holes reported are within 100 metres
from surface. Q Zone Two holes tested for the western strike
extension of Q Zone in the Hugh Pam area 1.5 kilometres along
strike from where Temex previously interested very high grade gold
mineralization in the Upper Hallnor Mine. Both holes successfully
intersected the target host quartzite unit with hole TW11-154
yielding 122.85 g/t gold over 0.50 metres and 5.42 g/t gold over
0.50 metres within typical, narrow quartz veins. Importantly, these
holes demonstrate the continuity of the quartzite host and the
existence of very high grade veins and the Q Zone remains a top
priority exploration target. Current Drilling The current program,
which began in October 2011, is focused on testing the Upper
Hallnor Mine area for potential open-pittable gold resources and to
provide sufficient data to establish an initial National Instrument
compliant 43-101 resource estimate. A total of 43 holes for
12,900 metres have been drilled to date in this campaign.
This program is being conducted under the joint venture between
Temex (60%) 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)|
|________|________|______|_______________|________| |Upper Broulan
Reef | |_________________________________________________|
|TW11-126|33.40 |39.50 |6.10 |1.30 |
|________|________|______|_______________|________| |includes|33.40
|34.40 |1.00 |4.15 |
|________|________|______|_______________|________| | |46.50 |48.00
|1.50 |1.38 | |________|________|______|_______________|________|
|TW11-127|46.60 |62.40 |15.80 |1.35 |
|________|________|______|_______________|________| |includes|54.20
|57.90 |3.70 |4.41 |
|________|________|______|_______________|________| |includes|56.00
|56.70 |0.70 |21.22 |
|________|________|______|_______________|________|
|TW11-134|149.70 |153.10|3.40 |1.48 |
|________|________|______|_______________|________|
|includes|149.70 |150.70|1.00 |3.71 |
|________|________|______|_______________|________| | |183.10
|183.90|0.80 |3.60 |
|________|________|______|_______________|________|
|TW11-137|252.90 |287.00|34.10 |1.21 |
|________|________|______|_______________|________|
|includes|252.90 |253.40|0.50 |6.71 |
|________|________|______|_______________|________| |and |256.10
|259.90|3.80 |1.65 |
|________|________|______|_______________|________|
|includes|271.00 |272.00|1.00 |17.26 |
|________|________|______|_______________|________| |and |275.10
|275.70|0.50 |6.16 |
|________|________|______|_______________|________| |and |286.00
|287.00|1.00 |3.91 |
|________|________|______|_______________|________| |C Zone |
|_________________________________________________| |TW11-174|86.00
|106.00|20.00 |4.95 |
|________|________|______|_______________|________| |includes|86.00
|93.00 |7.00 |1.22 |
|________|________|______|_______________|________| |and |99.00
|106.00|7.00 |12.92 |
|________|________|______|_______________|________| |includes|99.00
|103.00|4.00 |19.88 |
|________|________|______|_______________|________| |includes|99.00
|100.00|1.00 |47.90 |
|________|________|______|_______________|________| |and |101.00
|102.00|1.00 |5.92 |
|________|________|______|_______________|________| |and |102.00
|103.00|1.00 |24.20 |
|________|________|______|_______________|________| |and |104.00
|105.00|1.00 |7.90 |
|________|________|______|_______________|________| |Q Zone |
|_________________________________________________|
|TW11-154|609.30 |609.80|0.50 |122.85 |
|________|________|______|_______________|________| | |623.80
|624.50|0.50 |5.42 |
|________|________|______|_______________|________| |TW11-157|96.00
|97.00 |1.00 |1.62 |
|________|________|______|_______________|________| | |216.70
|217.30|1.00 |1.35 |
|________|________|______|_______________|________| 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. For holes drilled between March and June 2011,
analyses were performed by Swastika laboratories located in
Swastika, Ontario, however samples taken on those same holes in
fall 2011 to fill sample gaps were analyzed by ALS Chemex.
Intervals reported are core lengths. True widths are unknown
at this time. Estimates if reported are historical in nature
and are not in compliance with NI 43-101 "Standards of Disclosure
for Mineral Deposits" and therefore should not be relied upon.
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. Notes: 1. Information regarding the mineral resource
estimate on the Juby Main Zone is in the Company's news release
dated January 16, 2012; the technical report will be filed on SEDAR
within 45 days of this date. 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.
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,
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. 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. 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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