Temex Reports Broad Zones of Gold Mineralization at Whitney Gold Project, Ontario
March 22 2012 - 9:00AM
PR Newswire (Canada)
TORONTO, March 22, 2012 /CNW/ - Temex Resources Corp. ("Temex" or
"the Company") is pleased to announce additional drill 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: -- TW11-171: 4.90 g/t gold over 7.35 m including
14.10 g/t gold over 0.75 m -- TW11-181: 1.03 g/t gold over 85.95 m
including 24.90 g/t gold over 0.50 m -- TW11-182: 1.21 g/t gold
over 18.20 m including 6.44 g/t gold over 0.85 m -- TW11-185: 1.27
g/t gold over 49.10 m including 4.02 g/t gold over 5.15 m --
TW12-198: 2.31 g/t gold over 20.00 m including 34.60 g/t gold over
1.00 m The drill results reported today are from nine holes drilled
on three sections on the eastern portion of the Upper Hallnor Mine
area. Drilling intersected multiple zones of vein and vein
stockworks which occur primarily in Timiskaming sedimentary rocks
that hosted the Upper Hallnor mine horizons; the zones of gold
mineralization are open in all directions. Significant
results are shown in Table 1. A total of 52 holes for 15,100 metres
have been drilled to date in this campaign which is designed to
define gold resources that may be mined near surface. Drill
results will be reported over the next several months as the assays
are received by the Company. 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. The 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. 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. Table 1.
Significant results from drill holes reported in this release
_____________________________________________ | Hole_ID |From
(m)|To (m)| Core |Au (g/t)| | | | |Length (m)| |
|_________|________|______|__________|________| |TW11-170 |
244.00|245.00| 1.00| 2.75|
|_________|________|______|__________|________| |TW11-171 |
243.90|251.25| 7.35| 4.90|
|_________|________|______|__________|________| |including|
245.30|246.00| 0.70| 5.99|
|_________|________|______|__________|________| |including|
249.75|250.50| 0.75| 6.68|
|_________|________|______|__________|________| |including|
250.50|251.25| 0.75| 14.10|
|_________|________|______|__________|________| |TW11-172 |
366.55|369.00| 2.45| 2.47|
|_________|________|______|__________|________| |including|
368.05|369.00| 0.95| 5.02|
|_________|________|______|__________|________| | | 375.00|378.45|
3.45| 2.55| |_________|________|______|__________|________|
|TW11-181 | 383.50|469.45| 85.95| 1.03|
|_________|________|______|__________|________| |including|
383.50|399.00| 15.50| 1.58|
|_________|________|______|__________|________| |including|
397.50|398.00| 0.50| 24.90|
|_________|________|______|__________|________| | | 415.00|443.00|
28.00| 1.63| |_________|________|______|__________|________|
|including| 415.00|425.05| 10.05| 2.26|
|_________|________|______|__________|________| |including|
416.45|417.10| 0.65| 12.85|
|_________|________|______|__________|________| | | 468.65|469.45|
0.80| 6.41| |_________|________|______|__________|________|
|TW11-182 | 323.50|341.70| 18.20| 1.21|
|_________|________|______|__________|________| |including|
324.00|324.85| 0.85| 6.44|
|_________|________|______|__________|________| | | 385.60|389.65|
4.05| 2.17| |_________|________|______|__________|________|
|TW11-184 | 290.90|303.45| 12.55| 0.84|
|_________|________|______|__________|________| |including|
298.60|303.45| 4.85| 1.31|
|_________|________|______|__________|________| |TW11-185 |
336.20|385.30| 49.10| 1.27|
|_________|________|______|__________|________| |including|
380.15|385.30| 5.15| 4.02|
|_________|________|______|__________|________| |TW12-196 |
413.00|415.00| 2.00| 4.36|
|_________|________|______|__________|________| |TW12-198 |
415.00|418.00| 3.00| 2.19|
|_________|________|______|__________|________| | | 444.10|456.70|
12.60| 1.09| |_________|________|______|__________|________| | |
546.80|566.80| 20.00| 2.31|
|_________|________|______|__________|________| |including|
565.80|566.80| 1.00| 34.60|
|_________|________|______|__________|________| 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. 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 orphone: 416-862-2246
toll free: 866-373-6287
Copyright