Temex Resources Corp. to provide further drill results from an ongoing 15,000 metre diamond drill program on the Whitney Township Property located in the Timmins Gold Camp. Drilling continues to intersect high grade gold within the 19 Vein system, the main target of the current drilling, with significant assay results obtained from the first two wedge holes including 20.73 g/t over 0.50 metres and 33.40 g/t over 0.50 metres (TW08-77W2) and 3.15 g/t gold over 3.10 metres (TW08-77W1). These holes, and subsequent holes are being wedged off the pilot hole which intersected 21.10 g/t gold over 6.55 metres including 270.62 g/t gold over 0.50 metres (TW08-77) (news release Nov 18, 2008).
The first two wedge holes primarily targeted quartz vein systems within the south limb of the persistent broad 19 Vein alteration envelope. Drilling has intersected a varying amount of narrow to broad quartz vein systems containing sporadic visible gold and a mix of high and low grade gold values which reflect the historical strong nugget effect within the Lower Hallnor Mine veined zones.
Drilling by the Company to date has focused on the south limb of the folded western extension of the 19 Vein which produced 650,000 tons at 0.42 ounces of gold per ton. The current drilling is targeting the down plunge extension of the 19 Vein that, along with several other vein systems, remained open immediately to the west of the former Hallnor Mine property boundary. Mining was terminated at the former boundary in the early 1970’s due to non-ownership of the adjacent claims and as a result the area currently being drill tested by the Company was not previously explored.
As drilling progresses, wedge holes, which will be cut at progressively higher elevations from the pilot hole, will begin to test the historically higher grade fold nose area of the 19 Vein structure. This will be followed by drill testing the western extension of the 11 Vein system which produced 450,000 tons at 0.30 ounces per ton gold and is also open down dip and down plunge. Additionally, other identified vein systems such as the 9, 13, and 20 vein systems will be tested during the course of the program.
The Property is owned by Porcupine Gold Mines (”PGM”, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.). Temex has the option to earn a 60% interest in the entire Broulan Reef portion of the Property and below the 1000 foot level on the contiguous Hallnor Mine Property by making expenditures of $4 million over 4 years. The Property occurs within a 4 kilometre, 10+ million ounce mine trend and includes the former Broulan Reef and Hallnor Mines, the latter of which was one of the highest grade gold mines in the Timmins camp with historic production totalling more than 1.65 million ounces of gold at an average grade of 0.40 opt (13.71 g/t).
Henry Hutteri, P. Geo., is the designated qualified person responsible for the preparation of this news release. Temex is a Canadian exploration company advancing its precious metal, nickel, diamond, and uranium projects in Ontario. For further information, contact Ian Campbell, President and CEO or Bruce Durham, Executive Chairman at 416-862-2246 or visit www.temexcorp.com. Interested parties may visit the Temex IR Hub at http://www.agoracom.com/ir/Temex where they can post questions and receive answers or review questions and answers already posted by other parties. Questions, correspondence and requests for names to be added to the e-mail list to receive all future press releases and updates in real time can be emailed to mailto: TME(at)agoracom.com.
Temex has implemented a quality control (QA/QC) program which includes the use of standards and blanks for the Whitney Township Property. Samples of split NQ core were transported by Company personnel to Swastika Laboratories in Swastika, Ontario in sealed bags. The remaining half of the core was kept as a permanent record and stored at a secure facility in Timmins. The core was analyzed by a 30 gram standard fire assay. Pulp metallic assaying was performed on the larger veins.