NEWS Release...TIMMINS Camp!Temex Reports Additional High Grade Gold at Whitney Property, Timmins
12,000 Metre Drill Program Underway
TORONTO, March 16 /CNW/ - Temex Resources Corp. (TSXV: TME) (FWB: TQ1) ("Temex" or "the Company") reports the results from the remaining holes in the Hallnor footwall west area as part of the 2010 program on the Whitney JV Property ("Whitney" or "the Property") located in the heart of the Timmins Gold Camp (see previous news releases Oct 6, 2010 and Jan 4, Jan 19, Feb 9 and Mar 2, 2011). The Company also announces the commencement of a new 12,000 metre drill program being conducted under the terms of a joint venture agreement between Temex (60%) and Goldcorp Canada Ltd. (40%, "Goldcorp"). The Property hosts three past producing mines including the high grade Hallnor Mine which produced 1.7 million ounces of gold at an average grade of 0.40 oz/ton (13.7 g/t) gold.
"We are extremely encouraged by the results of our 14,205 metre drill program conducted in 2010 which tested several prospective zones in the Upper Hallnor Mine area and we will now aggressively test for extensions of these gold zones along with testing some exciting exploration targets in both the Upper Hallnor and Broulan Reef areas of the property," commented Ian Campbell, President and CEO.
Results reported are from holes which tested extensions of gold zones in the western part of the footwall to the Hallnor deposit. All four holes cut quartz vein systems with occasional fine-grained visible gold. Gold zones intersected range from 9.30 metres grading 1.30 g/t gold in hole TW10-103 starting at a down hole depth of 38.00 metres to high grade intersections assaying 20.48 g/t gold over 1.70 metres including 54.00 g/t gold over 0.60 metres in hole TW10-106 at 163.10 metres down hole, and 12.80 g/t gold over 0.50 metres at 274.20 metres down hole in hole TW10-125. Significant intersections are reported in the attached table.
2011 Exploration Program
At a recent joint venture meeting, Temex and Goldcorp approved a 12,000 metre diamond drilling program to be completed by September 2011. Drilling is underway with one rig and a second is planned to be added as soon as it becomes available. The program is designed to establish NI 43-101 gold resources in some areas and to test a number of exploration targets.
At Upper Hallnor, drilling is focused on expanding near-surface gold zones initially tested by the Company in 2010. Key targets include the 6 Vein area where all nine holes of the 2010 drill program cut broad intervals of north and south dipping quartz veining with occasional fine-grained visible gold with gold intersections including 9.97 g/t gold over 6.70 metres, 4.12 g/t gold over 19.30 metres, and 5.81 g/t gold over 11.40 metres. Other key targets include the Hallnor South (21.20 g/t gold over 4.10 metres), Hallnor Main Vein (33.60 g/t gold over 2.40 metres), and the depth extension of the 1-55 Zone (50.10 g/t gold over 0.70 metres, 3.32 g/t gold over 7.00 metres and 2.79 g/t gold over 7.20 metres).
Drilling will also test the Q Zone which was discovered in 2009 where drill intersections include 29.21 g/t gold over 1.4 metres, 9.01 g/t gold over 3.70 metres, 17.71 g/t gold over 2.90 metres, and 90.35 g/t gold over 0.50 metres and which remains wide open for expansion.
In the Broulan Reef area in the western part of the Property, the program will evaluate near-surface targets for potential open pit style mineralization including the Reef West Pit where previous drilling by Temex yielded up to 33.50 g/t gold over 5.40 metres. The program will also test for the western extension of the Q Zone stratigraphy in the Hugh Pam area where previous drilling by Temex intersected significant near surface gold mineralization with values up to 8.41 g/t gold over 27.5 metres.
Jari Paakki, P. Geo., Vice-President, Exploration of the Company, is the designated "qualified person" (within the meaning of National Instrument 43-101) responsible for the preparation of this news release.
Table 1. Significant results from drill holes reported in this release
| Hallnor Footwall West Veins | | | |
| Hole_ID | From (m) | To (m) | Core Length (m) | Gold (g/t) |
| TW10-103 | 38.00 | 40.00 | 2.00 | 2.10 |
| | 46.80 | 56.10 | 9.30 | 1.30 |
| includes | 50.50 | 52.00 | 1.50 | 2.53 |
| | 68.00 | 71.00 | 3.00 | 2.61 |
| | 86.00 | 88.50 | 2.50 | 1.83 |
| | 96.90 | 98.60 | 1.70 | 6.71 |
| TW10-105 | 134.30 | 135.10 | 0.80 | 2.76 |
| | 136.50 | 137.70 | 1.20 | 3.17 |
| TW10-106 | 119.20 | 119.70 | 0.50 | 3.57 |
| | 163.10 | 164.80 | 1.70 | 20.48 |
| includes | 163.70 | 164.30 | 0.60 | 54.00 |
| | 178.00 | 178.50 | 0.50 | 2.75 |
| TW10-125 | 46.30 | 48.90 | 2.60 | 1.84 |
| | 216.50 | 217.70 | 1.20 | 2.33 |
| | 241.70 | 242.30 | 0.60 | 2.80 |
| | 274.20 | 274.70 | 0.50 | 12.80 |
Notes: Temex has implemented a quality control (QA/QC) program which includes the use of standards and blanks. Samples of split NQ core are transported by Company personnel to Activation Laboratories in Timmins, Ontario in sealed bags. The remaining half of the core is kept as a permanent record and stored at a secure facility in Timmins. The core samples are analyzed using a 30 gram standard fire assay method. Pulp metallic gold assaying is performed as required on samples where visible gold is observed. Intervals reported are core lengths. True widths are unknown at this time. Estimates if reported are historical in nature and are not in compliance with NI 43-101 "Standards of Disclosure for Mineral Deposits" and therefore should not be relied upon.
About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio of precious metals properties in northeastern Ontario, a world class mining district. Temex is focussed on exploring its Whitney Property, in partnership with Goldcorp, while at the same time expanding its NI 43-101 gold resource at the Juby Gold Project which currently stands at 614,000 ounces of gold in the indicated resource category and 602,000 ounces of gold in inferred resources. Temex also has a non NI 43-101 silver resource on its Gowganda Silver Project of 2.61 million ounces of silver at a grade of 1.5 oz/t.