NEWSTemex intersects more high grade gold from C Zone Whitney Property - Timmins Gold Mining Camp
"TME" TSX Venture Exchange
Shares Outstanding: 42.4 million
TORONTO, Jan. 4 /CNW/ - Temex Resources Corp. (TME, TSX Venture Exchange)
(the "Company" or "Temex") is pleased to report additional results on the C
Zone from the initial diamond drill campaign on its Whitney Township Property
(the "Property"). Holes TW05-05 to TW05-09 being reported are the remainder of
the nine holes totalling 1,557 metres drilled to test the near-surface gold
mineralization of the C Zone. The drill program, completed in December 2005,
also tested the Hugh-Pam Zone and these holes will be reported separately. The
Company has an option to earn a 60% interest in the Property from the
Porcupine Joint Venture (the "PJV", a joint venture between Placer Dome (CLA)
Limited and Kinross Gold Corporation) and is strategically located 3 km to the
west of the Pamour Open Pit which is currently in production by the PJV.
Highlights of the current results:
- TW05-05 intersected 2.68 g/t Au over 6.00 m including 11.01 g/t Au
over 1.40 m
- TW05-07 intersected two zones of gold mineralization: an upper zone
grading 5.14 g/t Au over 6.50 m including 8.24 g/t Au over 4.00 m and
a lower zone grading 3.73 g/t Au over 30.30 m including 5.79 g/t Au
over 11.00 m
- TW05-07 high grade intercepts include 21.26 g/t Au over 1.00 m in the
upper zone and 10.83 g/t Au over 1.00 m in the lower zone; a further
high grade sample, located above the upper zone, assayed 30.93 g/t Au
over 1.50 m
The drill campaign tested the C Zone along 425 metres of strike length
and to vertical depths of 70 to 130 metres; in general, drill holes are
oriented at 160 degrees. Temex views the C Zone and the Hugh-Pam Zone as
targets that have the potential for early delineation of a gold resource at a
shallow depth. Table 1 lists selected significant results from all holes
drilled by Temex on the C Zone.
Holes TW05-05 and TW05-06, drilled at the west end of the current
program, returned intervals of anomalous gold mineralization, with TW05-05
intersecting 11.01 g/t Au over 1.40 metres in a single sample.
Hole TW05-07, collared approximately 20 metres east of drill section
TW05-02 (1.72 g/t Au over 16.30 m including 3.58 g/t Au over 4.00 m, see News
Release dated December 7, 2005) and oriented at 340 degrees, was aimed at
testing for structural and grade information. Drill hole TW05-07 intersected
3.73 g/t Au over 30.30 m including 5.78 g/t Au over 11.00 m; a single sample
assayed 10.83 g/t over 1.00 m. True widths are estimated at 25% of reported
intervals for drill hole TW05-07.
TW05-08 and TW05-09 were drilled from the same setup, located at the east
end of the 425 metre strike length and near the former Bonetal Mine. These
drill holes intersected altered mafic volcanic rocks with quartz veining and
anomalous gold values and appear to have stepped across a fault.
Temex views the drill results of the C Zone as a positive step forward in
understanding the gold mineralization of the C Zone and in evaluating the
near-surface potential of this zone. A second round of drilling, to further
delineate the extent of gold mineralization and to provide sufficient
information for the development of a gold resource, is currently being planned
and to begin later in January 2006.
This press release has been reviewed and approved by Scott Jobin-Bevans,
Ph.D., P.Geo., an independent consultant and Qualified Person pursuant to
National Instrument 43-101, working with Caracle Creek International
Consulting Inc., based in Sudbury, Ontario.
Temex, a Canadian exploration company, is focused on advancing its gold
and diamond projects in northeastern Ontario. Please visit the Company website
at www.temexcorp.com or contact Ian Campbell at 416-862-2246.
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 -
<<
Table 1. Selected Assay Results from the C Zone: Drill holes TW05-01 to
TW05-09
Interval Gold Grade
Hole From (metres) To (metres) (metres) (grams per tonne)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
TW05-01 122.00 153.00 31.00 1.51
Including 125.50 126.50 1.00 5.93
Including 132.50 136.90 4.40 3.70
Including 132.50 134.00 1.50 6.28
-------------------------------------------------------------------------
TW05-02 137.70 154.00 16.30 1.72
Including 142.00 146.00 4.00 3.58
Including 144.00 146.00 2.00 5.08
-------------------------------------------------------------------------
TW05-03 103.60 117.40 13.80 1.89
Including 109.90 117.40 7.50 3.33
Including 109.90 110.40 0.50 12.11
Including 116.40 117.40 1.00 6.28
-------------------------------------------------------------------------
TW05-04 122.00 135.50 13.50 3.64
Including 122.00 126.50 4.50 10.13
Including 124.00 125.00 1.00 37.41
-------------------------------------------------------------------------
TW05-05 153.50 159.50 6.00 2.68
Including 158.10 159.50 1.40 11.01
-------------------------------------------------------------------------
TW05-06 131.00 134.00 3.00 0.46
-------------------------------------------------------------------------
TW05-07 48.50 50.00 1.50 30.93
And 87.50 94.00 6.50 5.14
Including 90.00 94.00 4.00 8.24
Including 90.00 91.00 1.00 8.81
Including 93.00 94.00 1.00 21.16
And 115.70 146.00 30.30 3.73
Including 119.00 141.20 22.20 4.47
Including 120.80 122.00 1.20 8.54
And 128.00 139.00 11.00 5.79
Including 128.00 134.20 6.20 7.12
Including 128.00 129.00 1.00 10.83
And 130.00 131.00 1.00 8.37
And 138.00 139.00 1.00 6.76
-------------------------------------------------------------------------
TW05-08 no significant gold values
-------------------------------------------------------------------------
TW05-09 no significant gold values
Note: where check values are present, the arithmetic average of the check
value and the first value has been used. The true widths of the reported
gold-mineralized intervals are interpreted to range from 85% to 98% of
the drilled widths for holes TW05-01 to TW05-06, and approximately 25% of
the drilled widths for hole TW05-07. QA/QC Procedures were documented in
the news release dated December 7, 2005.
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