Temex Extends Juby Gold Deposit Mineralization Significantly; Discovers New High Grade Gold Zone
July 23 2012 - 9:00AM
PR Newswire (Canada)
TORONTO, July 23, 2012 /CNW/ - Temex Resources Corp. ("Temex" or
"the Company") announces that all results have been received for
the eight-hole 3,255 metre diamond drill program completed on the
recently acquired Golden Lake Property ("Golden Lake" or the
"Property") on which the Company has an option to earn a 100%
interest (news release January 18, 2012). Golden Lake is part of
the Juby Gold Project, located in northeastern Ontario and is
situated along the southwestern extension of the Larder Lake -
Cadillac Fault Zone system between the Young-Davidson deposit
operated by AuRico Gold and the Côté Lake deposit now operated by
IAMGOLD Corporation. This is the Company's first drill campaign on
the Property which is located adjacent to, and along strike of, the
100%-owned Juby deposit which contains a National Instrument 43-101
("NI 43-101") compliant gold resource of 934,645 ounces at a grade
of 1.30 g/t in the indicated category plus 905,621 ounces at a
grade of 1.0 g/t in the inferred category (both calculated using a
cut-off grade of 0.40 g/t). All eight holes intersected gold
mineralization that is typical of the Juby Main Zone ("JMZ"), over
extensive widths. These new holes have succeeded in extending
the known gold mineralized trend a further 750 metres and the
continuity of gold mineralization from the Juby resource is
excellent which now extends over 3.5 kilometres. Highlights of the
drill results are shown below and detailed in the following tables.
GL12-01B: 0.57 g/t gold over 238.00 metres including 0.74 g/t gold
over 129.00 metres, and 1.21 g/t gold over 31.00 metres, and 1.45
g/t gold over 15.00 metres, and 1.30 g/t gold over 12.00 metres
GL12-02: 1.08 g/t gold over 25.61 metres including 2.58 g/t gold
over 3.00 metres GL12-03: 0.76 g/t gold over 126.00 metres
including 1.21 g/t gold over 24.00 metres, and 2.41 g/t gold over
5.00 metres, and 1.34 g/t gold over 16.00 metres, and 1.54 g/t gold
over 14 metres, New Footwall Zone 34.31 g/t gold over 1.50 metres
GL12-04: 1.01 g/t gold over 19.50 metres and 1.86 g/t gold over
17.29 metres including 3.24 g/t gold over 8.29 metres GL12-06: 1.12
g/t gold over 42.45 metres including 4.94 g/t gold over 0.83
metres, 4.89 g/t gold over 1.00 metres GL12-07: 0.72 g/t gold over
131.29 metres including 2.02 g/t gold over 13.00 metres and 12.91
g/t gold over 1.00 metre "We are very pleased with these results
which have extended the Juby gold mineralization a substantial
distance beyond the extent of the current NI 43-101 resource,"
commented Ian Campbell, President and CEO. "These results
clearly demonstrate that we are discovering what is becoming a very
large gold system starting from surface, is wide open along strike
and at depth, has widened considerably and has an increased
frequency of visible gold. Additionally, we are very excited that
we have intersected high-grade gold mineralization proximal to the
main trend in the adjacent volcanic rocks which are virtually
untested in this area." The eight widely-spaced holes were drilled
on four sections over a 750 metre strike length of the projected
extension of the Juby deposit, testing depths ranging from surface
to -400 metres vertical. All holes intersected altered
Timiskaming-aged sedimentary rocks and feldspar porphyry units
typical of the Juby gold deposit. Broad zones of gold
mineralization occur in these units (see highlights and table),
some of which represent the longest continuously gold-mineralized
sections encountered to date in the JMZ deposit area. Several
occurrences of visible gold were noted occurring in crosscutting
quartz-carbonate veinlets. In addition, drill hole GL12-03 was
extended to test the footwall volcanic rocks due to the presence of
strong alteration, typically associated with high grade gold
deposits such as those in Kirkland Lake, and intersected a 1.50
metre core length interval which assayed 34.31 g/t gold. This
high grade gold zone represents a new target which will be drill
tested in subsequent programs. Drilling will be undertaken in
sufficient density to bring the current area into NI 43-101
resource categories. 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 |From
(m)|To (m)|Core Length (m)|Au (g/t)|
|_________|________|______|_______________|________| |GL12-01B |
47.95 |59.00 | 11.05 | 0.68 |
|_________|________|______|_______________|________| | | 112.00
|116.50| 4.50 | 0.87 |
|_________|________|______|_______________|________| | | 220.00
|458.00| 238.00 | 0.57 |
|_________|________|______|_______________|________| |including|
250.00 |379.00| 129.00 | 0.74 |
|_________|________|______|_______________|________| |including|
250.00 |259.00| 9.00 | 1.43 |
|_________|________|______|_______________|________| | | 324.00
|355.00| 31.00 | 1.21 |
|_________|________|______|_______________|________| | and | 324.00
|339.00| 15.00 | 1.45 |
|_________|________|______|_______________|________| | and | 334.00
|338.00| 4.00 | 3.10 |
|_________|________|______|_______________|________| | and | 336.00
|337.00| 1.00 | 7.18 |
|_________|________|______|_______________|________| | and | 343.00
|355.00| 12.00 | 1.30 |
|_________|________|______|_______________|________| | and | 372.46
|379.00| 6.54 | 1.02 |
|_________|________|______|_______________|________| | and | 428.00
|434.00| 6.00 | 0.89 |
|_________|________|______|_______________|________| | and | 452.30
|458.00| 5.70 | 1.89 |
|_________|________|______|_______________|________| | | | | | |
|_________|________|______|_______________|________| | GL12-02 |
74.11 |99.72 | 25.61 | 1.08 |
|_________|________|______|_______________|________| |including|
76.00 |79.00 | 3.00 | 2.58 |
|_________|________|______|_______________|________| | and | 85.00
|91.00 | 6.00 | 1.67 |
|_________|________|______|_______________|________| | | 207.50
|210.50| 3.00 | 2.33 |
|_________|________|______|_______________|________| | | | | | |
|_________|________|______|_______________|________| | GL12-03 |
32.14 |37.00 | 4.86 | 0.37 |
|_________|________|______|_______________|________| | | 178.00
|214.00| 36.00 | 0.41 |
|_________|________|______|_______________|________| |including|
193.00 |199.00| 6.00 | 0.99 |
|_________|________|______|_______________|________| |including|
194.00 |197.00| 3.00 | 1.49 |
|_________|________|______|_______________|________| | | 255.00
|258.40| 3.40 | 3.63 |
|_________|________|______|_______________|________| |including|
256.00 |257.00| 1.00 | 10.23 |
|_________|________|______|_______________|________| | | 304.00
|430.00| 126.00 | 0.76 |
|_________|________|______|_______________|________| |including|
304.00 |328.00| 24.00 | 1.21 |
|_________|________|______|_______________|________| |including|
314.00 |328.00| 14.00 | 1.53 |
|_________|________|______|_______________|________| |including|
319.00 |324.00| 5.00 | 2.41 |
|_________|________|______|_______________|________| | | 347.00
|363.00| 16.00 | 1.34 |
|_________|________|______|_______________|________| |including|
347.00 |350.00| 3.00 | 4.75 |
|_________|________|______|_______________|________| |including|
348.00 |349.00| 1.00 | 12.37 |
|_________|________|______|_______________|________| | | 377.00
|388.00| 11.00 | 1.02 |
|_________|________|______|_______________|________| | | 416.00
|430.00| 14.00 | 1.54 |
|_________|________|______|_______________|________| | | 479.00
|480.50| 1.50 | 34.31 |
|_________|________|______|_______________|________| | | | | | |
|_________|________|______|_______________|________| | GL12-04 |
33.50 |53.00 | 19.50 | 1.01 |
|_________|________|______|_______________|________| |including|
33.50 |34.50 | 1.00 | 9.49 |
|_________|________|______|_______________|________| | | 68.00
|102.00| 34.00 | 0.90 |
|_________|________|______|_______________|________| |including|
68.00 |74.00 | 6.00 | 2.15 |
|_________|________|______|_______________|________| |including|
72.00 |73.00 | 1.00 | 7.94 |
|_________|________|______|_______________|________| |including|
101.00 |102.00| 1.00 | 6.35 |
|_________|________|______|_______________|________| | | 118.62
|119.50| 0.88 | 10.77 |
|_________|________|______|_______________|________| | | 164.00
|169.42| 5.42 | 0.70 |
|_________|________|______|_______________|________| | | 198.71
|216.00| 17.29 | 1.86 |
|_________|________|______|_______________|________| |including|
198.71 |207.00| 8.29 | 3.24 |
|_________|________|______|_______________|________| | | 241.21
|247.00| 5.79 | 1.27 |
|_________|________|______|_______________|________|
__________________________________________________ | Hole |From
(m)|To (m)|Core Length (m)|Au (g/t)|
|_________|________|______|_______________|________| | GL12-05 |
7.00 |27.00 | 20.00 | 0.30 |
|_________|________|______|_______________|________| | | 126.00
|131.00| 5.00 | 0.37 |
|_________|________|______|_______________|________| | | 161.58
|163.25| 1.67 | 1.33 |
|_________|________|______|_______________|________| | | 201.35
|228.90| 27.55 | 0.68 |
|_________|________|______|_______________|________| |including|
214.00 |221.00| 7.00 | 1.00 |
|_________|________|______|_______________|________| | | 301.15
|309.00| 7.85 | 0.47 |
|_________|________|______|_______________|________| | | 352.00
|405.00| 53.00 | 0.59 |
|_________|________|______|_______________|________| |including|
352.00 |369.38| 17.38 | 0.71 |
|_________|________|______|_______________|________| |including|
362.00 |368.00| 6.00 | 1.07 |
|_________|________|______|_______________|________| | and | 380.90
|389.50| 8.60 | 1.04 |
|_________|________|______|_______________|________| | | | | | |
|_________|________|______|_______________|________| | GL12-06 |
12.00 |18.00 | 6.00 | 0.86 |
|_________|________|______|_______________|________| | | 105.55
|148.00| 42.45 | 1.12 |
|_________|________|______|_______________|________| |including|
105.55 |136.00| 30.45 | 1.46 |
|_________|________|______|_______________|________| |including|
106.38 |107.21| 0.83 | 4.94 |
|_________|________|______|_______________|________| | and | 114.00
|115.00| 1.00 | 4.89 |
|_________|________|______|_______________|________| | and | 117.50
|118.00| 0.50 | 5.21 |
|_________|________|______|_______________|________| | | | | | |
|_________|________|______|_______________|________| | GL12-07 |
119.00 |123.00| 4.00 | 0.46 |
|_________|________|______|_______________|________| | | 223.00
|224.00| 1.00 | 11.01 |
|_________|________|______|_______________|________| | | 249.49
|254.00| 4.51 | 0.50 |
|_________|________|______|_______________|________| | | 372.71
|504.00| 131.29 | 0.72 |
|_________|________|______|_______________|________| |including|
372.71 |376.00| 3.29 | 1.64 |
|_________|________|______|_______________|________| |including|
372.71 |373.50| 0.79 | 4.82 |
|_________|________|______|_______________|________| | and | 385.00
|474.47| 89.47 | 0.86 |
|_________|________|______|_______________|________| |including|
393.00 |406.00| 13.00 | 2.02 |
|_________|________|______|_______________|________| |including|
393.00 |398.00| 5.00 | 4.01 |
|_________|________|______|_______________|________| |including|
396.00 |397.00| 1.00 | 12.91 |
|_________|________|______|_______________|________| | and | 413.00
|439.00| 26.00 | 1.03 |
|_________|________|______|_______________|________| | and | 460.00
|473.47| 13.47 | 0.77 |
|_________|________|______|_______________|________| | and | 479.12
|481.50| 2.38 | 1.46 |
|_________|________|______|_______________|________| | and | 496.50
|504.00| 7.50 | 0.90 |
|_________|________|______|_______________|________| | | | | | |
|_________|________|______|_______________|________| | GL12-08 |
7.00 |19.00 | 12.00 | 0.73 |
|_________|________|______|_______________|________| |including|
8.00 |14.00 | 6.00 | 1.36 |
|_________|________|______|_______________|________| |including|
11.00 |12.00 | 1.00 | 4.52 |
|_________|________|______|_______________|________| | | 82.10
|88.00 | 5.90 | 0.56 |
|_________|________|______|_______________|________| | | 95.00
|103.00| 8.00 | 0.45 |
|_________|________|______|_______________|________| | | 120.00
|207.90| 87.90 | 0.40 |
|_________|________|______|_______________|________| |including|
120.00 |129.00| 9.00 | 0.71 |
|_________|________|______|_______________|________| |including|
123.50 |128.00| 4.50 | 1.03 |
|_________|________|______|_______________|________| | And | 136.00
|143.50| 7.50 | 0.82 |
|_________|________|______|_______________|________| |including|
140.00 |141.00| 1.00 | 4.00 |
|_________|________|______|_______________|________| | and | 173.00
|180.20| 7.20 | 0.52 |
|_________|________|______|_______________|________| | and | 187.00
|193.00| 6.00 | 0.78 |
|_________|________|______|_______________|________| | and | 198.00
|207.90| 9.90 | 0.78 |
|_________|________|______|_______________|________| |including|
203.00 |207.90| 4.90 | 1.24 |
|_________|________|______|_______________|________| | | 219.00
|224.00| 5.00 | 0.59 |
|_________|________|______|_______________|________| Note: Temex
implemented a quality control (QA/QC) program to ensure best
practice in sampling and analysis. Drill core samples are cut
at Temex facilities using a diamond saw with the samples
transported by Temex personnel in securely sealed bags to a
freighting company and from there directly to facilities operated
by SGS Canada in Sudbury and Mississauga, Ontario for preparation
and analysis. Core samples are analyzed for gold using fire
assay on a 30 gram split with an ICP finish. Where initial
results exceed 1 g/t gold, a second assay is completed on another
30 gram split with a gravimetric finish. Intervals reported
are core lengths. True widths are unknown at this time but
are estimated to be 65 to 75% of the drilled width, depending on
the angle of the drill hole. 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: please visit
www.temexcorp.com or email: info@temexcorp.com orphone:416-862-2246
toll free: 866-373-6287
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