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TORONTO, July 8, 2014 /CNW/ - Temex Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or "the Company") announces results from the definition drill campaign on the Whitney Gold Project (the "Property") located in Timmins, Ontario. The Property is held under a joint venture in which Temex owns 60% and is the operator, and Goldcorp Canada Ltd. owns 40%.
Highlights (see Table 1 for downhole depths of significant intersections and Table 2 for details on drill hole locations):
Commented Ian Campbell, President and CEO, Temex Resources Corp., "These drill holes, along with our other recent results all of which are excellent near-surface high grade gold mineralization over significant widths, solidify our confidence on the 110 Zone, selected as the initial start-up for our advanced exploration program, and further demonstrates the tremendous opportunity for low capital expenditure/early start-up operations in the heart of the Timmins gold camp."
The program is focused on the 110 Zone, located on the eastern part of the Property, and was selected as optimal for advanced exploration bulk sampling through an open pit due to anticipated low capital and operating costs based on ease of access, surface exposure and shallow dip. The 110 Zone is ideally suited to open pit extraction due to its unique shallow 40 degree north dipping structure and shallow exposure at the bedrock surface. This latest pass of drilling further defines the geometry to a vertical depth of 50 metres and provides geotechnical information to facilitate detailed engineering and geotechnical work.
The 110 Zone is comprised of sheeted extension vein stockworks containing high grade gold mineralization that are an extension of the vein systems historically mined at the Hallnor Mine 150 metres to the north. The vein systems are accompanied by quartz, sericite and disseminated pyrite alteration haloes with preliminary metallurgical studies indicating excellent recoveries (news release February 27, 2013).
Eleven holes were recently drilled within the 110 Zone, seven of which (TW14-361, 363, 371-375), successfully intercepted the vein structure. Four holes intersected visible gold (Table 1). To date 31 of the 44 holes drilled in this program intersected the 110 Zone quartz vein structure, which continues to demonstrate excellent continuity of the Zone over the 230 metres of strike length now tested. Drill hole TW14-371 extended the Zone beyond the 50 metre vertical depth where it remains open on the westernmost section intercepting 8.91 g/t gold (uncapped) over 16.40 metres including 20.06 g/t gold over 3.60 metres and 35.65 g/t gold (uncapped) over 1.60 g/t including 83.50 g/t gold over 0.50 metres (55.00 g/t gold capped grade).
Eight geotechnical holes, TW14-361 to TW14-368, were drilled to evaluate geotechnical and rock mechanics conditions required for detailed engineering and permitting in advance of an open pit bulk sample on the 110 Zone as well as future underground exploration programs on the 155 and Main Zones. Most of these holes were collared outside of anticipated mineralization and as such did not intercept significant gold mineralization, with the exception of drill hole TW14-367 which intersected 6.79 g/t gold over 2.60 metres in the Hallnor Main Zone. This phase of drilling is now complete. Geotechnical analyses are underway on the drill core while interpretation of data derived from the drilling program is ongoing.
The 2014 program, unanimously approved at a meeting of the management committee of the joint venture in late January, was described in the Company's news release of April 8, 2014.
Kim Tyler, P.Geo. Project Manager and Karen Rees, P.Geo., Vice President, Exploration of Temex Resources Corp., are the designated qualified persons responsible for the preparation of this news release.
Table 1. Significant results from drill holes reported in this release
Hole | From (m) | To (m) | Core Length (m) |
Au (g/t) (Uncapped) |
Au (g/t) Capped at 55 g/t Au |
TW14-361 | 31.20 | 39.60 | 8.40 | 2.37 | |
including | 36.00 | 38.20 | 2.20 | 7.56 | |
TW14-363 | 32.10 | 35.80 | 3.70 | 1.91 | |
including | 32.10 | 32.70 | 0.60 | 4.59 | |
TW14-367* | 73.90 | 76.50 | 2.60 | 6.79 | |
including | 75.20 | 75.80 | 0.60 | 17.40 | |
TW14-371* | 34.00 | 50.40 | 16.40 | 8.91 | 8.04 |
including | 36.80 | 40.40 | 3.60 | 20.06 | |
including | 38.70 | 40.40 | 1.70 | 33.62 | |
and | 48.80 | 50.40 | 1.60 | 35.65 | 26.74 |
Including | 49.90 | 50.40 | 0.50 | 83.50 | 55.00 |
TW14-372 | 14.20 | 18.00 | 3.80 | 2.32 | |
TW14-373 | 27.00 | 36.00 | 9.00 | 1.47 | |
including | 32.50 | 34.50 | 2.00 | 6.24 | |
TW14-374* | 39.00 | 48.30 | 9.30 | 3.32 | |
including | 42.10 | 44.60 | 2.50 | 6.49 | |
and | 46.80 | 48.30 | 1.50 | 5.63 | |
TW14-375* | 40.60 | 48.00 | 7.40 | 4.57 | |
including | 41.40 | 44.00 | 2.60 | 10.78 | |
including | 43.50 | 44.00 | 0.50 | 40.10 |
Notes:
*Denotes visible gold in core.
Temex has implemented a quality control (QA/QC) program that includes
insertion of blanks, commercial standards and duplicate core samples in
order to ensure best practice in sampling and analysis. Drill core
samples are cut at Temex on-site facilities using a diamond saw with
the samples transported by Temex personnel in securely sealed bags
directly to Activation Laboratories (Actlabs) facilities in Timmins,
Ontario for preparation and analysis. Core samples are analyzed for
gold using fire assay on a 30 gram split with an ICP finish. Where
initial results exceed 3 g/t gold, a second assay is completed on
another 30 gram split using fire assay with a gravimetric finish. When
visible gold is noted in the drill core, samples are analyzed with
screen metallic and the procedure is up to 1000 g split is taken and
sieved at 100 mesh; the entire +100 mesh fraction is fired and the -100
mesh is fired in duplicate. As part of in-house QA/QC Actlabs inserts
certified gold standards, blanks and pulp duplicate samples. Random
additional repeats are also analyzed as required. Additionally Temex
routinely inserts its own internal certified gold standards and
blanks. Results from all internal QC samples and repeats are
reported. Intervals reported are core lengths. True widths are
unknown at this time.
Table 2. Location details for drill holes reported in this release
Hole |
UTM Easting NAD27 Z17 |
UTM Northing NAD27 Z17 |
Length (m) |
Azimuth | Dip |
TW14-361 | 489371.26 | 5373593.15 | 81.00 | 160 | -57.00 |
TW14-362 | 489470.50 | 5373557.74 | 51.00 | 155 | -60.00 |
TW14-363 | 489456.14 | 5373586.41 | 51.00 | 155 | -60.00 |
TW14-364 | 489389.96 | 5373532.94 | 51.00 | 235 | -60.00 |
TW14-365 | 489309.41 | 5373641.36 | 75.00 | 335 | -50.00 |
TW14-366 | 489094.40 | 5373535.96 | 72.00 | 335 | -50.00 |
TW14-367 | 489957.96 | 5373521.70 | 76.50 | 260 | -60.00 |
TW14-368 | 489868.08 | 5373457.60 | 75.00 | 335 | -45.00 |
TW14-369 | 489342.02 | 5373547.37 | 45.00 | 155 | -87.00 |
TW14-370 | 489330.67 | 5373571.97 | 51.00 | 155 | -70.00 |
TW14-371 | 489331.48 | 5373571.04 | 55.70 | 155 | -90.00 |
TW14-372 | 489351.53 | 5373549.59 | 36.00 | 209 | -90.00 |
TW14-373 | 489343.17 | 5373569.27 | 45.00 | 155 | -80.00 |
TW14-374 | 489438.95 | 5373575.96 | 57.00 | 335 | -80.00 |
TW14-375 | 489359.86 | 5373604.06 | 66.00 | 155 | -55.00 |
About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio
of precious metals properties in the world class mining district of
northeastern Ontario. Temex (60% interest) is advancing the Timmins
Whitney Gold Project, in partnership with Goldcorp Canada Ltd. (40%
joint venture interest; no back-in rights), and exploring the Juby Gold
Project (100% Temex).
The Whitney Property has a NI 43-101 compliant resources on the Upper Whitney of 0.97 million tonnes at a grade of 7.02 g/t gold for 218,100 ounces of gold in the Measured category plus 2.3 million tonnes at a grade of 6.77 g/t gold for 490,500 ounces of gold in the Indicated category and 1.0 million tonnes at a grade of 5.34 g/t gold for 170,700 ounces of gold in the Inferred category at a cut-off grade of 3.0 g/t gold (Note 1).
The Juby Gold Project has NI 43-101 compliant resources of 26.6 million tonnes at a grade of 1.28 g/t gold for 1,090,400 ounces of gold in the Indicated category and 96.2 million tonnes at a grade of 0.94 g/t gold for 2,908,800 ounces of gold in the Inferred category, both at a cut-off grade of 0.40 g/t gold (Note 2).
Temex also has a NI 43-101 compliant resource for tailings material on its Gowganda Silver Project. The tailings piles contain a NI 43-101 compliant 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 (Note 3).
Notes:
Forward-Looking Information:
This news release contains forward-looking information which is not
comprised of historical facts. Forward-looking information involves
risks, uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ materially
from those expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is not
limited to, mineral resource estimates, and the development of its
projects as well as the timing related thereto. Factors that could
cause actual results to differ materially from such forward-looking
information include, but are not limited to, general business and
economic uncertainties, future mineral prices, uncertainties in mineral
resource estimates and adverse market conditions, as well as those
risks set out in the Company's public documents filed on SEDAR.
Although the Company believes that the assumptions and factors used in
preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information,
which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed
time frames or at all. The Company disclaims any intention or
obligation to update or revise any forward-looking information, whether
as a result of new information, future events or otherwise, other than
as required by law.
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.
Copyright 2014 Canada NewsWire
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