Temex intersects 2.13 g/t gold over 47.69 metres and discovers additional high grade gold at Juby Gold Project, Matachewan, Ontario
Wednesday, Jan 16, 2013TORONTO, Jan. 15, 2013 /CNW/ - Temex Resources Corp. (TSXV: TME), (FWB: TQ1) ("Temex" or "the Company") announces it has received the first set of assays from its drilling program at the Company's Juby Gold Project near Matachewan, Ontario. Results for drill holes GL12-09 to GL12-14 on the Golden Lake portion of the project continue to rapidly expand the Juby Main Zone gold zone to depth and demonstrate excellent continuity for 1 kilometre along strike to the west, intersect new zones of high grade gold mineralization, and confirm previous drilling results in this new area of the project.
All six holes reported today successfully intersected gold mineralization that is typical of the Juby Main Zone ("JMZ") over extensive and increasing widths. Importantly, there is an increasing incidence of narrow, but high grade, intervals including new discoveries in the hanging wall Timiskaming sediments and feldspar porphyry units containing visible gold, with assays of 31.39 g/t gold over 0.50 metres, 24.71 g/t gold over 0.53 metres, and 75.86 g/t gold over 0.50 metres; the latter is the highest individual gold assay recorded to date by Temex on the Juby Project. Diamond Drilling continues with two rigs.
"We are extremely pleased with the results reported today which continue to demonstrate the Juby Main Zone is a very large gold system that is wide open at depth and along strike. Our current drilling on the Golden Lake portion of the project is testing only a fraction of the Juby Main Zone trend, acquired in late 2012 through our recent consolidation of the Goldeye properties which expanded our landholdings ten-fold on this outstanding project," commented Ian Campbell, President and CEO.
The six holes reported today were drilled on three sections which, combined with the Company's first eight holes drilled on the Golden Lake Property (news release July 23, 2012), extend the known gold mineralized trend a further 750 metres to the west and demonstrate excellent continuity of gold mineralization from the current western extent of the Juby Main Zone NI 43-101 gold resources.
The current drill pattern consists of a minimum of two holes drilled per
section, with sections spaced 75 to 100 metres apart.
The Juby Main Zone (news releases January 16 and February 28, 2012) contains a National Instrument 43-101 ("NI 43-101") compliant resource 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. This resource was defined from surface along a strike length of 2,800 metres and is hosted in altered Timiskaming sediments and felsic intrusive rocks.
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 (60% interest) is exploring the Timmins Whitney Property, in partnership with Goldcorp (40% joint venture interest; no back-in rights), and the Juby Gold Project.
The Whitney Property has NI 43-101 compliant resources on the Upper Hallnor of 3.0 million tonnes at a grade of 2.44 g/t gold for 234,300 ounces of gold in the Measured category, 8.8 million tonnes at a grade of 1.97 g/t gold for 555,900 ounces of gold in the Indicated category, and 4.1 million tonnes at a grade of 1.82 g/t gold for 241,000 ounces of gold in the Inferred category, all at a cut-off grade of 0.30 g/t gold (Note 1).
Source: Temex Resources Corp.