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News
08.07.2009
TEMEX INTERSECTS MORE HIGH GRADE GOLD EARN-IN COMPLETE ON WHITNEY TOWNSHIP PROPERTY, TIMMINS
TEMEX INTERSECTS MORE HIGH GRADE GOLD EARN-IN COMPLETE ON WHITNEY TOWNSHIP PROPERTY, TIMMINS
TORONTO, ONTARIO: Temex Resources Corp. (TSX Venture:TME, Frankfurt:TQ1) ("Temex" or “the Company”) announces that it has earned a 60% interest in the Whitney Township Property (the “Property”) from Porcupine Gold Mines (“PGM”, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd., “Goldcorp”) by completing $4 million in exploration expenditures and delivering all data to PGM. During the earn-in period, Temex has been successful in finding additional shallow-level mineralization within the Broulan Reef Mine area, the deep west-plunging extensions of gold-bearing Lower Hallnor Mine vein systems as well as making the recent discovery of the Q Target (news releases March 23 and May 14, 2009), the down-dip extension of the Upper Hallnor vein systems. Assays results are reported today from the most recent holes drilled.
Highlights:
 Temex earns 60% interest in Whitney Township Property
 Multiple gold-bearing quartz veined zones with several occurrences of visible gold in second hole on Q Target
 Significant new results from Q Target include: 16.94 g/t gold over 0.50 metres, 5.45 g/t gold over 1.50 metres,
15.39 g/t gold over 0.50 metres, 9.24 g/t gold over 0.50 metres, 6.86 g/t gold over 0.50 metres, 3.51 g/t gold over 0.50 metres and 17.86 g/t gold over 0.50 metres
 Q Target open in all directions
The second hole TW09-79 collared on the Q Target 50 metres to the east-northeast of the first hole TW09-78 intersected several sets of quartz veined zones containing minor sulphides and visible gold in 14 of the sampled intervals. TW09-79 returned several significant results including 16.94 g/t gold over 0.50 metres, 5.45 g/t gold over 1.50 metres, 15.39 g/t gold over 0.50 metres, 9.24 g/t gold over 0.50 metres, 6.86 g/t gold over 0.50 metres, 3.51 g/t gold over 0.50 metres and 17.86 g/t gold over 0.50 metres.
The gold bearing quartz veining is hosted within a laterally extensive brittle quartzite horizon situated approximately 150 metres south of the Hallnor Mine horizon, and represents the same structures which host the Upper Hallnor vein systems. This demonstrates the previously unrecognized potential of the Upper Hallnor structures which have reopened within this quartzite horizon and most importantly, the gold mineralization intersected is open in all directions and is a top priority exploration target elsewhere on the Property. Considerable drilling is necessary to expand and define the extent of these gold mineralized zones.
Of the last two holes (TW09-77W8 and 77W9) drilled off of the main pilot hole within in the Lower Hallnor west boundary area, TW09-77W8 intersected narrow quartz veined and stringer zones with sulphides within the uppermost portion of the 19 Vein carbonate alteration zone yielding 1.64 g/t gold over 3.10 metres. Other gold values encountered include 2.89 g/t gold over 1.0 metres and 3.70 g/t gold over 0.90 metres. Hole TW09-77W9 tested the 11 Vein west of the initial pilot hole intersection and intersected two separate intervals of 1.92 g/t gold over 1.70 metres and 2.62 g/t gold over 0.80 metres.
Commented Ian Campbell, President and CEO: “We are very pleased to have earned our 60% interest in the Whitney Property and we are looking forward to advancing the property efforts in joint venture with Goldcorp.”
The Property occurs within a 4 kilometre long, 10+ million ounce mine trend and includes the Broulan Reef and Hallnor Mines, the latter with historic production totalling more than 1.65 million ounces of gold at an average grade of 0.40 opt (13.71 g/t) making it one of the highest grade gold mines in the 65 million ounce Timmins Gold Camp.
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 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.
On behalf of the Board of Directors,
"Ian Campbell"
Ian Campbell
President and CEO
*The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release*
Note: Temex has implemented a quality control (QA/QC) program which includes the use of standards and blanks. 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 using a 30 gram standard fire assay method. Pulp metallic gold assaying was performed as required. Intervals reported are core lengths. True widths are unknown at thi
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TORONTO, ONTARIO: Temex Resources Corp. (TSX Venture:TME, Frankfurt:TQ1) ("Temex" or “the Company”) announces that it has earned a 60% interest in the Whitney Township Property (the “Property”) from Porcupine Gold Mines (“PGM”, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd., “Goldcorp”) by completing $4 million in exploration expenditures and delivering all data to PGM. During the earn-in period, Temex has been successful in finding additional shallow-level mineralization within the Broulan Reef Mine area, the deep west-plunging extensions of gold-bearing Lower Hallnor Mine vein systems as well as making the recent discovery of the Q Target (news releases March 23 and May 14, 2009), the down-dip extension of the Upper Hallnor vein systems. Assays results are reported today from the most recent holes drilled.
Highlights:
 Temex earns 60% interest in Whitney Township Property
 Multiple gold-bearing quartz veined zones with several occurrences of visible gold in second hole on Q Target
 Significant new results from Q Target include: 16.94 g/t gold over 0.50 metres, 5.45 g/t gold over 1.50 metres,
15.39 g/t gold over 0.50 metres, 9.24 g/t gold over 0.50 metres, 6.86 g/t gold over 0.50 metres, 3.51 g/t gold over 0.50 metres and 17.86 g/t gold over 0.50 metres
 Q Target open in all directions
The second hole TW09-79 collared on the Q Target 50 metres to the east-northeast of the first hole TW09-78 intersected several sets of quartz veined zones containing minor sulphides and visible gold in 14 of the sampled intervals. TW09-79 returned several significant results including 16.94 g/t gold over 0.50 metres, 5.45 g/t gold over 1.50 metres, 15.39 g/t gold over 0.50 metres, 9.24 g/t gold over 0.50 metres, 6.86 g/t gold over 0.50 metres, 3.51 g/t gold over 0.50 metres and 17.86 g/t gold over 0.50 metres.
The gold bearing quartz veining is hosted within a laterally extensive brittle quartzite horizon situated approximately 150 metres south of the Hallnor Mine horizon, and represents the same structures which host the Upper Hallnor vein systems. This demonstrates the previously unrecognized potential of the Upper Hallnor structures which have reopened within this quartzite horizon and most importantly, the gold mineralization intersected is open in all directions and is a top priority exploration target elsewhere on the Property. Considerable drilling is necessary to expand and define the extent of these gold mineralized zones.
Of the last two holes (TW09-77W8 and 77W9) drilled off of the main pilot hole within in the Lower Hallnor west boundary area, TW09-77W8 intersected narrow quartz veined and stringer zones with sulphides within the uppermost portion of the 19 Vein carbonate alteration zone yielding 1.64 g/t gold over 3.10 metres. Other gold values encountered include 2.89 g/t gold over 1.0 metres and 3.70 g/t gold over 0.90 metres. Hole TW09-77W9 tested the 11 Vein west of the initial pilot hole intersection and intersected two separate intervals of 1.92 g/t gold over 1.70 metres and 2.62 g/t gold over 0.80 metres.
Commented Ian Campbell, President and CEO: “We are very pleased to have earned our 60% interest in the Whitney Property and we are looking forward to advancing the property efforts in joint venture with Goldcorp.”
The Property occurs within a 4 kilometre long, 10+ million ounce mine trend and includes the Broulan Reef and Hallnor Mines, the latter with historic production totalling more than 1.65 million ounces of gold at an average grade of 0.40 opt (13.71 g/t) making it one of the highest grade gold mines in the 65 million ounce Timmins Gold Camp.
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 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.
On behalf of the Board of Directors,
"Ian Campbell"
Ian Campbell
President and CEO
*The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release*
Note: Temex has implemented a quality control (QA/QC) program which includes the use of standards and blanks. 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 using a 30 gram standard fire assay method. Pulp metallic gold assaying was performed as required. Intervals reported are core lengths. True widths are unknown at thi
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA87971U1057
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.