🕐16.03.11 - 15:27 Uhr
Temex Reports Additional High Grade Gold at Whitney Property, Timmins; 12,000 Me
tre Drill Program Underway
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Re: News Releases - Wednesday, March 16, 2011
Temex Reports Additional High Grade Gold at Whitney Property,
Timmins; 12,000 Metre Drill Program Underway
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News Release NR09-2011
TSX Venture Exchange: TME, Frankfurt Exchange:TQ1
March 16, 2011 (TORONTO, ONTARIO): Temex Resources Corp.
(TSX-V: TME,
FWB: TQ1) ("Temex" or "the Company") reports the results from the
remaining holes in the Hallnor footwall west area as part of the 2010
program on the Whitney JV Property ("Whitney" or "the Property")
located in the heart of the Timmins Gold Camp (see previous news
releases Oct 6, 2010 and Jan 4, Jan 19, Feb 9 and Mar 2, 2011).
The
Company also announces the commencement of a new 12,000 metre drill
program being conducted under the terms of a joint venture agreement
between Temex (60%) and Goldcorp Canada Ltd.
(40%, "Goldcorp").
The
Property hosts three past producing mines including the high grade
Hallnor Mine which produced 1.7 million ounces of gold at an average
grade of 0.40 oz/ton (13.7 g/t) gold.
"We are extremely encouraged by the results of our 14,205 metre drill
program conducted in 2010 which tested several prospective zones in the
Upper Hallnor Mine area and we will now aggressively test for
extensions of these gold zones along with testing some exciting
exploration targets in both the Upper Hallnor and Broulan Reef areas of
the property," commented Ian Campbell, President and CEO.
Results reported are from holes which tested extensions of gold zones
in the western part of the footwall to the Hallnor deposit.
All four
holes cut quartz vein systems with occasional fine-grained visible
gold.
Gold zones intersected range from 9.30 metres grading 1.30 g/t
gold in hole TW10-103 starting at a down hole depth of 38.00 metres to
high grade intersections assaying 20.48 g/t gold over 1.70 metres
including 54.00 g/t gold over 0.60 metres in hole TW10-106 at 163.10
metres down hole, and 12.80 g/t gold over 0.50 metres at 274.20 metres
down hole in hole TW10-125.
Significant intersections are reported in
the attached table.
2011 Exploration Program
At a recent joint venture meeting, Temex and Goldcorp approved a 12,000
metre diamond drilling program to be completed by September 2011.
Drilling is underway with one rig and a second is planned to be added
as soon as it becomes available.
The program is designed to establish
NI 43-101 gold resources in some areas and to test a number of
exploration targets.
At Upper Hallnor, drilling is focused on expanding near-surface gold
zones initially tested by the Company in 2010.
Key targets include the
6 Vein area where all nine holes of the 2010 drill program cut broad
intervals of north and south dipping quartz veining with occasional
fine-grained visible gold with gold intersections including 9.97 g/t
gold over 6.70 metres, 4.12 g/t gold over 19.30 metres, and 5.81 g/t
gold over 11.40 metres.
Other key targets include the Hallnor South
(21.20 g/t gold over 4.10 metres), Hallnor Main Vein (33.60 g/t gold
over 2.40 metres), and the depth extension of the 1-55 Zone (50.10 g/t
gold over 0.70 metres, 3.32 g/t gold over 7.00 metres and 2.79 g/t gold
over 7.20 metres).
Drilling will also test the Q Zone which was discovered in 2009 where
drill intersections include 29.21 g/t gold over 1.4 metres, 9.01 g/t
gold over 3.70 metres, 17.71 g/t gold over 2.90 metres, and 90.35 g/t
gold over 0.50 metres and which remains wide open for expansion.
In the Broulan Reef area in the western part of the Property, the
program will evaluate near-surface targets for potential open pit style
mineralization including the Reef West Pit where previous drilling by
Temex yielded up to 33.50 g/t gold over 5.40 metres.
The program will
also test for the western extension of the Q Zone stratigraphy in the
Hugh Pam area where previous drilling by Temex intersected significant
near surface gold mineralization with values up to 8.41 g/t gold over
27.5 metres.
Jari Paakki, P.
Geo., Vice-President, Exploration of the Company, is
the designated "qualified person" (within the meaning of National
Instrument 43-101) responsible for the preparation of this news
release.
Table 1.
Significant results from drill holes reported in this release
Notes: Temex has implemented a quality control (QA/QC) program which
includes the use of standards and blanks.
Samples of split NQ core are
transported by Company personnel to Activation Laboratories in Timmins,
Ontario in sealed bags.
The remaining half of the core is kept as a
permanent record and stored at a secure facility in Timmins.
The core
samples are analyzed using a 30 gram standard fire assay method.
Pulp
metallic gold assaying is performed as required on samples where
visible gold is observed.
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 focussed on exploring its Whitney Property,
in partnership with Goldcorp, while at the same time expanding its NI
43-101 gold resource at the Juby Gold Project which currently stands at
614,000 ounces of gold in the indicated resource category and 602,000
ounces of gold in inferred resources.
Temex also has a non NI 43-101
silver resource on its Gowganda Silver Project of 2.61 million ounces
of silver at a grade of 1.5 oz/t.
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.
-30-
For More Information please visit www.temexcorp.com or email:
or
phone: 416-862-2246 toll free: 866-373-6287
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Copyright (c) 2011 TEMEX RESOURCES CORP (TME) All rights reserved.
For more information visit our website at http://www.temexcorp.com/ or
send mailto:
Message sent on Wed Mar 16, 2011 at 7:05:41 AM Pacific Time
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