Temex Resources Corp. Intersects 47.0 Metres Grading 1.36 g/t Gold; Juby Gold Deposit Continues To Expand
03.02.2011 | CNW
TORONTO, Feb. 3 /CNW/ - Temex Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or "the Company") announces additional drill results from ongoing drilling at its 100% owned Juby gold deposit located in the Shining Tree gold district of northeastern Ontario. Widely spaced drilling continues to demonstrate excellent continuity, consistent grades of gold mineralization and high potential for definition of economic bulk tonnage resources.Highlights:
- Hole JU10-109: 47.00 metres of 1.36 g/t gold, including 8.90 metres of 2.23 g/t gold
- Hole JU10-108: 40.80 metres of 1.12 g/t gold, including 9.00 metres of 2.06 g/t gold
- Deposit significantly extended to west with wide step-out drilling
- Gold deposit remains open at depth and 1.5 km along strike to the west
Drill intersections for the two holes reported today are located approximately 125 metres apart with both holes cutting significant gold mineralization including anomalous gold over core lengths of close to 100 metres.
Hole JU10-109 cut the gold zone 100 metres west of previous drilling (JU-19) and significantly extends the Juby deposit westward at depth. JU10-09 intersected 47.00 metres grading 1.36 g/t gold including two higher grade sections, 8.90 metres grading 2.23 g/t gold and 16.90 metres of 1.71 g/t gold. JU10-08 cut 40.80 metres grading 1.12 g/t gold with a higher-grade 9.00 metre interval grading 2.06 g/t gold. Significant intersections are reported in the attached table.
The Juby deposit currently contains a National Instrument (NI) 43-101 compliant Indicated resource of 614,000 ounces of gold grading 1.36 g/t gold and Inferred resource of 602,000 ounces of gold grading 1.14 g/t gold, both at a cut-off grade of 0.50 g/t gold.
The current drilling is focused on expanding the current resources in the east half of the property which covers less than one-half of the strike length of the Juby gold structure. The western 1.5 km strike extent of the structure remains favourable for resource expansion and will be drilled commencing in the second quarter of 2011.
The disseminated style of gold mineralization at Juby continues to provide excellent continuity allowing for wide-spaced drilling to achieve upgraded NI 43-101 gold resources. Gold mineralization occurs within sericite-silica-albite-pyrite altered Timiskaming sedimentary rocks and feldspar porphyries.
In addition to the ongoing drilling to expand the Juby Main Zone gold resources, Temex recently commenced testing several new exploration targets developed from the 2010 surface exploration program on the Juby Property and the Juby JV Property in partnership with Goldeye Explorations Ltd. (news release January 10, 2011).
To view a longitudinal section of the Juby deposit, please visit:
http://files.newswire.ca/322/TemexJubyLong.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.
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.
Significant Drill Intersections for Drill Holes JU10-108 and JU10-109
Hole From (m) To (m) Core Length (m) Au (g/t)
JU10-108 478.90 519.70 40.80 1.12
including 498.00 507.00 9.00 2.06
JU10-109 416.80 423.00 6.20 1.53
525.00 572.00 47.00 1.36
including 536.60 545.50 8.90 2.23
and 549.50 566.40 16.90 1.71
Note: 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 Swastika Laboratories in Swastika, Ontario in sealed bags. The remaining half of the core is kept as a permanent record and stored at a secure facility in Gowganda. 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.
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.
For further information:
please visit www.temexcorp.com or
email: info@temexcorp.com or
phone: 416-862-2246 toll free: 866-373-6287