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.
|