🕐10.01.11 - 15:27 Uhr
Temex to Drill Targets on New Gold Zones, Juby Joint Venture Property, Shining Tree Gold District
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Re: News Releases - Monday, January 10, 2011
Temex to Drill Targets on New Gold Zones, Juby Joint Venture
Property, Shining Tree Gold District
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News Release NR02-2011
TSX Venture Exchange: TME, Frankfurt Exchange:TQ1
January 10, 2011 (TORONTO, ONTARIO): Temex Resources Corp.
(TSX-V: TME,
FWB: TQ1) ("Temex" or "the Company") announces that diamond drilling is
set to commence immediately on its Juby Joint Venture Property held
with Goldeye Explorations Ltd.
in which Temex holds a 60% interest and
is the operator.
A 2,500 metre 15-hole Phase I diamond drill program
will test six target areas discovered during the recently completed
surface exploration program.
Highlights:
.
Six new priority gold targets to be tested in the emerging Shining
Tree gold district.
.
2 km long gold-in-bedrock trend identified south of Juby Main Zone
with coincident IP (induced polarization) anomalies.
.
Test high-grade surface gold showings (0.01 to 30.6 g/t Au) with
coincident IP chargeability and gold in soil anomalies.
.
Test strike extension of the 100% owned Juby Main Zone Gold Deposit
(>1M oz gold).
"We are very pleased with the results of our recently completed field
exploration program and the number of quality drill targets that have
been generated on the Joint Venture ground and we are excited about the
upcoming drill program.
Our intent is to make new discoveries and
define gold resources that will add to our current resource on our
adjacent 100% owned Juby Main Zone deposit," commented Ian Campbell,
President and CEO of Temex Resources Corp."
The six priority targets include a 2 km long gold trend (grab samples
up to 5.6 g/t Au) with coincident IP anomalies 500 metres south of and
parallel to the Juby Main Zone gold deposit.
Historic work dating back
to the 1930s on one portion of this gold trend reported drill
intersections and trench sampling that include up to 2.23 g/t gold over
18.2 metres and 3.20 g/t gold over 12.0 metres.
Drilling will also test the western extension of the Juby Main Zone
where it crosses the Joint Venture ground.
Previous drilling by Temex
and Goldeye intersected 1.26 g/t gold over 61.60 metres and 3.63 g/t
gold over 6.76 metres.
This zone remains wide open for expansion at
depth.
Several targets occur to the west and north of the Juby Main Zone and
are defined by new coincident gold in bedrock and soil anomalies with
coincident IP chargeability anomalies.
Rock samples collected include
gold assays from grab samples of 0.01 to 30.6 g/t gold and gold in soil
anomalies of 15 to 420 ppb gold.
The northernmost new target is within
800 metres due east of Cresos Minto gold deposit.
The targets surround the Juby Main Zone located on the Companys 100%
owned Juby Lease, host to NI 43-101 compliant Indicated resource of
614,000 ounces of gold grading 1.36 g/t gold at a cut-off grade of 0.50
g/t gold and Inferred resource of 602,000 ounces of gold grading 1.14
g/t gold at a cut-off grade of 0.50 g/t gold.
To view a map of the Juby JV Property please visit:
http://files.newswire.ca/322/Jan2011JubyJV.pdf
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.
Corporate News
The Company also announces the grant of an aggregate of 1,950,000
options under the stock option plan to the Companys directors,
management and staff.
Each such option may be exercised by the holder
to purchase one common share of the Company at a price of $0.40 per
share for a period of 5 years from the date of grant.
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 the Timmins Gold
Project, and specifically the property known as Whitney, in partnership
with Goldcorp and at the same time advancing its Juby Gold Project, one
component of which is the 100% owned Juby Lease Property which contains
a National Instrument 43-101 Indicated resource of 614,000 ounces of
gold and an Inferred resource of 602,000 ounces of gold.
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 Mon Jan 10, 2011 at 6:06:00 AM Pacific Time
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