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01.09.2009
Temex Resources Corp.: Exploration Underway at Latchford Gold Project
Temex Resources Corp.: Exploration Underway at Latchford Gold Project
NEWS RELEASE NR16-2009
TSX Venture Exchange: TME, Frankfurt Exchange:TQ1
TORONTO, ONTARIO: Temex Resources Corp. (TSX Venture:TME, Frankfurt:TQ1) ("Temex" or "the Company") announces that a field exploration program has commenced on the Latchford Gold Project ("LGP") located in northeastern Ontario in the area south and west of the town of Cobalt. The program will focus on determining the extent of the new gold in bedrock trend discovered late last year by prospecting (news release April 7, 2009), located approximately 6 km north of the original discovery in 2004 of a block of rock containing a carbonate vein with bonanza gold mineralization from which grab samples assayed in excess of 6,000 g/t gold.
Last fall the Company conducted a prospecting program from which several select grab samples returned gold values ranging from 0.10 g/t to 5.52 g/t gold and 11.97 g/t gold in an area that had anomalous mineralization with values up to 0.65% copper, 0.069% cobalt and 0.052% nickel. Significantly, the gold mineralization is from a series of rusty fractures cutting Proterozoic basal sediments interpreted to be very near the unconformity with unexposed Archean basement rock, a geological environment similar to the setting of the famous Cobalt and Gowganda silver mining camps. The program will consist of prospecting and sampling followed by detailed grid work comprised of linecutting, soil geochemistry and induced polarization geophysical surveys in order to prioritize drill targets.
The LGP was initiated following the discovery of vein-style bonanza gold mineralization when detailed geochemical analyses demonstrated that the abundant visible gold in the sample was associated with cobalt-nickel-arsenide minerals in calcite veins and was determined to have an origin similar to that of the ultra high grade silver veins from the world-famous Cobalt and Gowganda silver districts. Temex has targeted several areas of the Cobalt Embayment of northeastern Ontario for exploration of Proterozoic-aged, high grade precious metal deposits.
The current program will also follow-up on several other significant finds from the 2008 program, located within 6 km north and south of the original high grade gold discovery site, which are suggestive of Archean mineral deposit types including individual select grab samples grading: 31.03 g/t gold; 15.36 g/t gold; 1,060 g/t silver, 3.87% lead and 2.58% zinc; 1.88 g/t palladium, 0.58% nickel, 0.30% copper and 0.11% cobalt; 1.29 g/t gold and 1.68% copper; 7.19% molybdenum.
Corporate Update
The Company also announces the grant of an aggregate of 1,410,000 options under the stock option plan to the Company's directors, management, staff and consultants. Each such option may be exercised by the holder to purchase one common share of the Company at a price of $0.26 per share, representing the closing trading price of the Company's common shares on the TSX Venture Exchange on August 28, 2009, for a period of 5 years.
Ian Campbell, P.Geo., is the designated Qualified Person responsible for the preparation of this news release. Temex is a Canadian exploration company advancing its precious metals 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*
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.
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NEWS RELEASE NR16-2009
TSX Venture Exchange: TME, Frankfurt Exchange:TQ1
TORONTO, ONTARIO: Temex Resources Corp. (TSX Venture:TME, Frankfurt:TQ1) ("Temex" or "the Company") announces that a field exploration program has commenced on the Latchford Gold Project ("LGP") located in northeastern Ontario in the area south and west of the town of Cobalt. The program will focus on determining the extent of the new gold in bedrock trend discovered late last year by prospecting (news release April 7, 2009), located approximately 6 km north of the original discovery in 2004 of a block of rock containing a carbonate vein with bonanza gold mineralization from which grab samples assayed in excess of 6,000 g/t gold.
Last fall the Company conducted a prospecting program from which several select grab samples returned gold values ranging from 0.10 g/t to 5.52 g/t gold and 11.97 g/t gold in an area that had anomalous mineralization with values up to 0.65% copper, 0.069% cobalt and 0.052% nickel. Significantly, the gold mineralization is from a series of rusty fractures cutting Proterozoic basal sediments interpreted to be very near the unconformity with unexposed Archean basement rock, a geological environment similar to the setting of the famous Cobalt and Gowganda silver mining camps. The program will consist of prospecting and sampling followed by detailed grid work comprised of linecutting, soil geochemistry and induced polarization geophysical surveys in order to prioritize drill targets.
The LGP was initiated following the discovery of vein-style bonanza gold mineralization when detailed geochemical analyses demonstrated that the abundant visible gold in the sample was associated with cobalt-nickel-arsenide minerals in calcite veins and was determined to have an origin similar to that of the ultra high grade silver veins from the world-famous Cobalt and Gowganda silver districts. Temex has targeted several areas of the Cobalt Embayment of northeastern Ontario for exploration of Proterozoic-aged, high grade precious metal deposits.
The current program will also follow-up on several other significant finds from the 2008 program, located within 6 km north and south of the original high grade gold discovery site, which are suggestive of Archean mineral deposit types including individual select grab samples grading: 31.03 g/t gold; 15.36 g/t gold; 1,060 g/t silver, 3.87% lead and 2.58% zinc; 1.88 g/t palladium, 0.58% nickel, 0.30% copper and 0.11% cobalt; 1.29 g/t gold and 1.68% copper; 7.19% molybdenum.
Corporate Update
The Company also announces the grant of an aggregate of 1,410,000 options under the stock option plan to the Company's directors, management, staff and consultants. Each such option may be exercised by the holder to purchase one common share of the Company at a price of $0.26 per share, representing the closing trading price of the Company's common shares on the TSX Venture Exchange on August 28, 2009, for a period of 5 years.
Ian Campbell, P.Geo., is the designated Qualified Person responsible for the preparation of this news release. Temex is a Canadian exploration company advancing its precious metals 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*
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.