Temex Reports Additional High-Grade, Near Surface Gold Mineralization at Whitney Gold Project Including 14.67 g/t over 3.80 met
March 01 2012 - 9:00AM
PR Newswire (Canada)
TORONTO, March 1, 2012 /CNW/ - Temex Resources Corp. ("Temex" or
"the Company") is pleased to announce the first batch of results
from a resource definition program started in October 2011
targeting the Upper Hallnor Mine Zone which is located on the
eastern portion of the Whitney Gold Project. Temex is conducting an
aggressive program to define near-surface gold resources typical of
what has been mined at the adjacent Pamour and Hoyle mine sites.
The Hallnor Mine was the highest grade past producing multi-million
ounce gold mine in Timmins which remains Canada's largest gold
producing area. Drill Highlights: -- TW11-164: 2.83 g/t gold over
11.50 m including 11.60 g/t gold over 1.00 m -- TW11-166: 6.10 g/t
gold over 4.00 m including 11.05 g/t gold over 1.17 m -- TW11-167:
2.06 g/t gold over 21.00 m including 9.28 g/t gold over 1.00 m --
TW11-169: 3.18 g/t gold over 4.00 m and 14.67 g/t gold over 3.80 m
The drill results reported today are from five holes drilled on the
eastern portion of the Upper Hallnor Mine area, part of a drill
program designed to define gold resources that may be mined near
surface. Significant results from the five holes are shown in
Table 1. "We are very pleased with these results which continue to
support our expectation that significant amounts of high-grade,
near surface gold mineralization remains to be found at the Upper
Hallnor Mine area," said Ian Campbell, President and CEO. Given the
robust gold price, Timmins is experiencing a renewed focus on open
pit gold mining, particularly in areas containing historic
underground gold mining sites and Hallnor is one of many promising
exploration targets located on the large Whitney property."
Drilling intersected multiple zones of vein and vein stockworks
which occur primarily in Timiskaming sedimentary rocks which hosted
the Upper Hallnor mine horizons. This is the same rock package from
which commercial mining has occurred directly on strike to the east
at both the Hoyle and Pamour mine sites. The holes reported today
plus holes reported previously (highlights below and full results
in Table 2) now define a strike length of 230 metres with multiple
zones of gold mineralization open in all directions. Highlights
from previous Temex drilling include: -- TW10-109: 2.82 g/t gold
over 10.60 m including 14.90 g/t gold over 0.90 m -- TW10-110: 6.47
g/t gold over 5.70 m including 11.60 g/t gold over 1.20 m --
TW10-112: 3.29 g/t gold over 30.20 m including 66.00 g/t gold over
0.80 m -- TW10-116: 2.24 g/t gold over 37.60 m including 3.72 g/t
gold over 14.40 m -- TW10-119: 4.12 g/t gold over 19.30 m and 18.15
g/t gold over 1.20 m Current Program The current drill program is
focused on providing sufficient data to establish an initial
National Instrument 43-101 compliant resource estimate. A
total of 47 holes for 14,200 metres have been drilled to date in
this campaign; additional drill results will be reported over the
next several months as the assays are received by the Company.
Whitney Property 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.
The Whitney property contains numerous near-surface gold targets
including the Upper Hallnor; Upper Broulan Reef, C Zone, and Q
Zone. Temex's current drill program is being conducted under the
joint venture between Temex (60%; operator) 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. Please visit
Temex at the PDAC 2012 Toronto Convention Centre - South Building
at the Investors Exchange Booth 2412 A Sunday March 4 and Monday
March 5, 2012. Table 1. Significant results from drill holes
reported in this release _________________________________________
| Hole_ID | From | To |Core Length| Au | | | (m) | (m) | (m)
|(g/t)| |_________|______|______|___________|_____| |TW11-164
|279.50|291.00| 11.50 |2.83 |
|_________|______|______|___________|_____|
|including|279.50|286.00| 6.50 |4.60 |
|_________|______|______|___________|_____|
|including|280.00|281.00| 1.00 |11.60|
|_________|______|______|___________|_____| | And |283.00|284.00|
1.00 |6.04 | |_________|______|______|___________|_____| | And
|284.00|285.00| 1.00 |5.36 |
|_________|______|______|___________|_____| | |301.13|312.12| 10.99
|1.46 | |_________|______|______|___________|_____|
|including|307.79|312.12| 4.33 |2.97 |
|_________|______|______|___________|_____|
|including|309.50|311.12| 1.62 |6.11 |
|_________|______|______|___________|_____| | |335.00|341.50| 6.50
|1.86 | |_________|______|______|___________|_____|
|including|335.00|336.00| 1.00 |5.50 |
|_________|______|______|___________|_____| | |376.00|380.00| 4.00
|2.75 | |_________|______|______|___________|_____| |TW11-165
|292.00|296.00| 4.00 |4.89 |
|_________|______|______|___________|_____|
|including|294.00|296.00| 2.00 |9.39 |
|_________|______|______|___________|_____|
|including|294.00|295.00| 1.00 |14.50|
|_________|______|______|___________|_____| | |311.00|320.57| 9.57
|1.55 | |_________|______|______|___________|_____|
|including|315.50|320.57| 5.07 |2.68 |
|_________|______|______|___________|_____|
|including|317.50|320.57| 3.07 |3.52 |
|_________|______|______|___________|_____| | |339.50|344.00| 4.50
|1.88 | |_________|______|______|___________|_____|
|including|340.23|342.50| 2.27 |3.54 |
|_________|______|______|___________|_____| | |355.50|356.00| 0.50
|9.96 | |_________|______|______|___________|_____| |TW11-166
|178.00|178.65| 0.65 |9.66 |
|_________|______|______|___________|_____| | |320.00|324.00| 4.00
|1.83 | |_________|______|______|___________|_____| |
|402.00|408.00| 6.00 |2.17 |
|_________|______|______|___________|_____| | |414.00|418.00| 4.00
|6.10 | |_________|______|______|___________|_____|
|including|414.00|415.17| 1.17 |11.05|
|_________|______|______|___________|_____| | And |415.17|416.00|
0.83 |5.44 | |_________|______|______|___________|_____| |TW11-167
|239.00|260.00| 21.00 |2.06 |
|_________|______|______|___________|_____|
|including|243.00|244.00| 1.00 |6.31 |
|_________|______|______|___________|_____| | and |247.31|248.00|
0.69 |4.45 | |_________|______|______|___________|_____| | and
|249.70|250.58| 0.88 |9.09 |
|_________|______|______|___________|_____| | and |252.00|253.00|
1.00 |3.97 | |_________|______|______|___________|_____| | and
|254.00|255.00| 1.00 |9.28 |
|_________|______|______|___________|_____| |TW11-169
|315.65|319.45| 3.80 |2.48 |
|_________|______|______|___________|_____|
|including|316.35|317.05| 0.70 |7.74 |
|_________|______|______|___________|_____| | |326.00|330.00| 4.00
|3.18 | |_________|______|______|___________|_____|
|including|327.00|328.00| 1.00 |9.60 |
|_________|______|______|___________|_____| | |374.00|376.00| 2.00
|4.69 | |_________|______|______|___________|_____| |
|389.20|393.00| 3.80 |14.67|
|_________|______|______|___________|_____|
|including|390.15|391.05| 0.90 |5.65 |
|_________|______|______|___________|_____|
|including|391.05|392.00| 0.95 |46.90|
|_________|______|______|___________|_____| 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. 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. Table 2. Significant results from drill
holes reported March 2, 2011
_________________________________________ | Hole_ID | From | To
|Core Length| Au | | | (m) | (m) | (m) |(g/t)|
|_________|______|______|___________|_____| |TW10-109
|240.40|251.00| 10.60 |2.82 |
|_________|______|______|___________|_____|
|including|240.40|243.30| 2.90 |7.05 |
|_________|______|______|___________|_____|
|including|241.40|242.30| 0.90 |14.90|
|_________|______|______|___________|_____| |TW10-110
|230.20|235.90| 5.70 |6.47 |
|_________|______|______|___________|_____|
|including|230.70|234.90| 4.20 |8.06 |
|_________|______|______|___________|_____| | and |230.70|231.90|
1.20 |11.60| |_________|______|______|___________|_____| |TW10-112
|244.40|274.60| 30.20 |3.29 |
|_________|______|______|___________|_____|
|including|244.40|246.50| 2.10 |11.11|
|_________|______|______|___________|_____|
|including|245.50|246.50| 1.00 |21.80|
|_________|______|______|___________|_____| | |251.30|258.00| 6.70
|9.97 | |_________|______|______|___________|_____|
|including|254.20|255.00| 0.80 |66.00|
|_________|______|______|___________|_____| | |273.20|274.60| 1.40
|4.29 | |_________|______|______|___________|_____| |
|302.10|304.00| 1.90 |3.30 |
|_________|______|______|___________|_____| |TW10-113
|294.70|295.50| 0.80 |18.80|
|_________|______|______|___________|_____| | |332.60|335.20| 2.60
|4.19 | |_________|______|______|___________|_____|
|including|332.60|333.20| 0.60 |11.80|
|_________|______|______|___________|_____| |TW10-116
|403.80|404.80| 1.00 |3.91 |
|_________|______|______|___________|_____| | |457.90|495.50| 37.60
|2.24 | |_________|______|______|___________|_____| |
|457.90|459.20| 1.30 |2.85 |
|_________|______|______|___________|_____| | |461.90|472.60| 10.70
|2.08 | |_________|______|______|___________|_____|
|including|461.90|463.40| 1.50 |6.33 |
|_________|______|______|___________|_____| | |481.10|495.50| 14.40
|3.72 | |_________|______|______|___________|_____|
|including|481.10|484.20| 3.10 |8.55 |
|_________|______|______|___________|_____|
|including|481.10|482.00| 0.90 |23.20|
|_________|______|______|___________|_____| | |486.20|495.50| 9.30
|2.83 | |_________|______|______|___________|_____| |
|504.10|504.90| 0.80 |10.60|
|_________|______|______|___________|_____| |TW10-119
|407.50|408.30| 0.80 |2.05 |
|_________|______|______|___________|_____| | |421.60|422.80| 1.20
|18.15| |_________|______|______|___________|_____| |
|477.50|496.80| 19.30 |4.12 |
|_________|______|______|___________|_____|
|including|477.50|488.90| 11.40 |5.81 |
|_________|______|______|___________|_____| 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 and the technical
report filed on SEDAR February 28, 2012. 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: For more information please
visit www.temexcorp.com oremail: info@temexcorp.com or phone:
416-862-2246, toll free:866-373-6287
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