Temex Discovers Widespread Surface Gold Mineralization up to 8.26 g/t Gold on Juby JV Property Northeastern Ontario
TSX-V:TME; FWB:TQ1
TORONTO, Nov. 24, 2011 /CNW/ - Temex Resources Corp.
, (FWB: TQ1) ('Temex' or 'the Company') reports that prospecting has discovered several new surface gold zones on its Juby Joint Venture ('JV') Property located near Gowganda in northeastern Ontario. These new zones occur approximately 1.5 kilometres southwest of the Juby Main Zone and appear to represent an important parallel structural trend to the main Tyrrell Structural Zone upon which the majority of the major gold occurrences in the area are centered.A program of B horizon soil sampling conducted in August delineated a strong gold-in-soil anomalous zone with individual samples returning values ranging from 28 ppb gold to 1,747 ppb gold (1.7 g/t gold). The anomalous samples define a trend with a minimum strike length of 1.5 kilometres and width of 0.5 kilometres in an area that has received virtually no exploration to date. These are by far the strongest gold in soil anomalies detected to date on both the Juby and Juby JV properties.
'We are very pleased with the success of this grass roots exploration program with the addition of several new high priority targets for drill testing. The discovery of gold mineralization in this area to the south of the Juby Main Zone opens up new potential for our extensive land package,' commented Ian Campbell, President and CEO of Temex.
Follow-up prospecting across the gold-in-soil anomalous trend has discovered several gold-in-bedrock occurrences over an area approximately 250 metres long by 50 metres wide with individual grab samples assaying 0.59 g/t gold up to 8.26 g/t gold. Significantly, the gold mineralization is hosted in highly altered feldspar porphyry and sedimentary rocks that exhibit iron carbonate alteration and minor amounts of pyrite similar to the Juby Main Zone. Although near the limits of a Spectral Induced Polarization survey conducted earlier in 2011, the anomalous gold in soil and bedrock zone occurs along the margin of a moderate chargeability and resistivity anomaly with an area of low chargeability and resistivity.
As field conditions permit, additional prospecting will be done to follow-up on the new gold zones prior to diamond drill testing.
Ian Campbell, P. Geo., President and CEO of the Company, is the designated 'qualified person' (within the meaning of National Instrument 43-101) 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 is expanding its NI 43-101 gold resource at the Juby Gold Project (Note 1) with an updated resource estimate planned for fall 2011. The Juby Main Zone has a resource of 14.1 million tonnes at a grade of 1.36 g/t gold for 614,000 ounces of gold in the Indicated category and 18.3 million tonnes at a grade of 1.14 g/t gold for 602,000 ounces of gold in the Inferred category, both at a cut-off grade of 0.50 g/t gold. Temex also has a NI 43-101 compliant resource for tailings material on its Gowganda Silver Project (Note 2). The tailings piles contain a 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 June 15, 2010 and
the technical report filed on SEDAR July 30, 2010. 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, Ph.D., P. Geol., and Joe Campbell,
B.Sc., P.Geo., '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,
Ph.D., P. Geol., Alan Sexton, M.Sc., P.Geo. and Joe Campbell,
B.Sc., 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.
SOURCE Temex Resources Corp.
PDF with caption: 'Widespread Surface Gold on Juby JV Property Northeastern Ontario'. PDF available at: http://stream1.newswire.ca/media/2011/11/24/20111124_C8742_DOC_EN_7117.pdf
Temex Resources Corp.
CONTACT: please visit www.temexcorp.com or email: info@temexcorp.com or
phone: 416-862-2246 toll free: 866-373-6287
