NR - Drilling On Juby!Tue Feb 26, 2008
Temex Announces Diamond Drill Program on Juby North Gold Property
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NEWS RELEASE NR04-2008
TSX Venture Exchange:TME, Frankfurt Exchange:TQ1
TORONTO, ONTARIO: Temex Resources Corp. (TSX Venture Exchange:TME, Frankfurt:TQ1) ("Temex" or "the Company") announces that a 2,000 metre diamond drill program has commenced on its Juby North Gold Property located 20 km west of Gowganda, Ontario. The drill program is a second phase of drilling, part of a $250,000 approved exploration program recently expanded to $400,000 based on positive results of the previous drill programs.
Highlights:
• Exploration program expanded
• January 2008 Induced Polarization ("IP") geophysics detects several new drill targets
• 2,000 metre drill program in progress to test several target areas
The current drill campaign, which commenced Feb 20, is testing the strike and depth extensions of several new gold zones discovered in the previous two drill programs, as well as several new, untested IP and soil geochemical anomalies. The drill campaign completed in Oct 2007 yielded the highest grade gold intersection discovered to date on the Property. Drill hole JU 07-89 (News Release Nov 07, 2007), which intersected 15.0 g/t gold over 2.15 metres including 33.74 g/t gold over 0.94 metres, was the first hole to test a 650 metre long IP anomaly. Three other gold mineralized zones were also intersected above and below the high grade zone. Gold mineralization occurs with up to 10% pyrite and minor chalcopyrite indicating a direct correlation to the IP anomaly. The gold zones, wide open at depth and along strike will be tested by the current drill campaign. Several new IP anomalies detailed in January 2008, some of which have coincident gold in soil geochemical anomalies, will also be tested during the current drill campaign.
The drill program will also test for the depth extension of gold mineralization intersected by the partners in several holes on a gold zone located on the main gold bearing structure in the area known as the Tyrrell Structural Zone ("TSZ"). To date, this zone has been tested over a 50 metre strike length and to a vertical depth of 120 metres where it remains open at depth. Previous results include: hole JU 07-92 intersected 3.23 g/t gold over 9.37 metres; hole JU 07-93 intersected 3.31 g/t gold over 6.76 metres including 7.46 g/t gold over 2.52 metres; hole JU 04-57 intersected 4.77 g/t gold over 4.91 metres within a broader gold bearing zone that averaged 1.19 g/t gold over a core length of 29.53 metres.
Commented Ian Campbell, President and CEO, "We are excited about this drill program as we have several quality targets to test in an area in which we discovered new near-surface gold zones each time we drilled, with the overall objective being to increase our gold resources in the immediate area of the Juby Main Zone."
The Juby North Property covers 5,520 acres and is subject to the terms of a 60:40 Joint Venture agreement between Temex and Goldeye Explorations Limited ("Goldeye"); Temex is the operator of the Joint Venture. The areas to be drilled are located within 2 km to the northwest of the Juby Main Zone, located on the 100% Temex-owned Juby Lease Property, which contains a significant NI43-101 compliant gold resource (news release Feb 16, 2005; www.sedar.com). The gold resource on the Juby Lease includes an indicated resource of 479,000 ounces of gold grading 1.73 g/t gold at a cut-off grade of 1.0 g/t gold, including a core of 315,000 ounces of gold at 2.20 g/t gold at a cut-off grade of 1.5 g/t, and an inferred resource of 120,000 ounces of gold grading 2.03 g/t gold at a cut-off grade of 1.5 g/t gold. This resource is contained from surface to a vertical depth of 400 metres and the area is unexplored at depth.
Ian Campbell, P.Geo., is the designated Qualified Person responsible for the preparation of this news release. For further information, please contact Ian Campbell or Bruce Durham at 416-862-2246 or visit the Company's website at www.temexcorp.com where a copy of the Company's latest presentation has been posted. Please visit Temex at Booth 2412 in the Investors Exchange, March 2-3 at PDAC 2008, Metro Toronto Convention Centre -- South Building. Temex is a well-funded Canadian exploration company advancing its precious metal, diamond, nickel, and uranium projects in Ontario.
On behalf of the Board of Directors,
"Ian Campbell"
Ian Campbell
President and CEO