Continuity (including 130.0g/t!!!)One of the few concerns I've had is continuity of the veins, thus preventing increases in the resource. This latest release is showing continuity in the key 110 zone. From the June 17 release:
Twenty-six of the thirty-three drill holes reported on this program to date intersected the 110 Zone quartz vein structure continuing to demonstrate excellent continuity of the Zone over the 230 metres of strike length now tested. Holes TW14-342 to TW14-360 progressively defined the Zone another 120 metres further west of the previously reported drilling. Below is the rest of the statement:
June 17, 2014 (TORONTO, ONTARIO): Temex Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or "the Company") announces initial results from the definition drill campaign on the Whitney Gold Project (the "Property") located in Timmins, Ontario. The Property is held under a joint venture in which Temex owns 60% and is the operator, and Goldcorp Canada Ltd. ("Goldcorp", as manager and on behalf of the Porcupine Joint Venture, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.) owns 40%. Highlights (see Table 1 for downhole depths of significant intersections and Table 2 for details on drillhole locations) - TW14-356: 14.26 g/t gold over 9.30 metres including 130.00 g/t gold over 0.90 metres (6.98 g/t gold over 9.30 metres using a capped grade of 55.00 g/t gold) commencing at the overburden/bedrock interface (27.00 to 33.30 metres downhole)
- TW14-352: 11.25 g/t gold over 6.50 metres including 33.58 g/t gold over 1.90 metres (12.50 to 15.90 metres downhole)
- TW14-357: 8.22 g/t gold over 10.30 metres including 27.28 g/t gold over 2.20 metres (31.00 to 41.30 metres downhole)
- TW14-344: 3.93 g/t gold over 5.10 metres including 16.90 g/t gold over 0.40 metres (27.50 to 35.90 metres downhole)
- TW14-359: 2.71 g/t gold over 17.20 metres including 5.35 g/t gold over 6.20 metres (29.50 to 38.80 metres downhole)
- TW14-345: 2.06 g/t gold over 22.50 metres including 5.35 g/t gold over 1.90 metres (31.70 to 54.20 metres downhole)
Commented Ian Campbell, President and CEO, Temex Resources Corp., "These results continue to solidify our confidence on the 110 Zone, selected as the initial start-up for our advanced exploration program. These drill results are from the western portion of the Zone and build on our most recent results, again with excellent near surface high grade gold mineralization over significant widths, further demonstrating the opportunity for low capital expenditure/early start-up in the heart of the Timmins gold camp." The current program is focussed on the 110 Zone, located on the eastern part of the Property, which was selected as optimal for advanced exploration bulk sampling through a small open pit and due to anticipated low capital and operating costs based on ease of access, surface exposure and shallow dip. The purpose of the drilling is to further define the geometry of the structure to a vertical depth of 50 metres in order to facilitate detailed engineering and geotechnical work. Twenty-six of the thirty-three drill holes reported on this program to date intersected the 110 Zone quartz vein structure continuing to demonstrate excellent continuity of the Zone over the 230 metres of strike length now tested. Holes TW14-342 to TW14-360 progressively defined the Zone another 120 metres further west of the previously reported drilling. Four holes intersected visible gold within the Zone (Table 1) while four other holes intercepted an unmineralized fault window through the middle of the zone. The 110 Zone, typical of mineralogy historically mined at the Hallnor Mine, is comprised of sheeted extension vein stockworks accompanied by quartz, sericite and disseminated pyrite alteration haloes. It is ideally suited to open pit extraction due to its unique shallow 40 degree north dipping structure and shallow exposure at the bedrock surface. Results from additional holes will be reported as they become available. Corporate Update Temex Resources Corp. is pleased to announce the appointment of Mr. Carmelo Marrelli as Chief Financial Officer ("CFO") of the Corporation effective immediately. Mr. Marrelli is the Principal of Marrelli Support Services Inc., delivering accounting, regulatory compliance and investment based services to numerous issuers on the TSX and TSX-Venture exchanges for over twenty years. With his value based service approach well known within the Canadian junior mining industry, Carmelo offers a diverse skill set to the Corporation. In addition, Carmelo is the controlling shareholder of DSA Corporate Services Inc., a firm providing corporate secretarial and regulatory filing services. Carmelo is a Chartered Professional Accountant (CPA, CA), a Certified General Accountant, and a member of the Institute of Chartered Secretaries and Administrators, a professional body that certifies corporate secretaries. He has a Bachelor of Commerce degree from the University of Toronto. Mr. Marrelli also serves as Chief Financial Officer to a number of reporting issuers on the TSX and TSX-Venture exchanges including Probe Mines Limited, Manitou Gold Inc., and Northquest Ltd. Concurrent with the appointment of Mr. Marrelli, Mr. Derrick Weyrauch has resigned from the position of CFO of the Corporation. "On behalf of all of us at Temex, we wish Derrick the best in his recent appointment as Chief Financial Officer on the Jaguar Mining Inc. management team," stated Ian Campbell, President and CEO. In connection with the appointment, Mr. Marrelli will be granted options to purchase 100,000 common shares of Temex Resources Corp. Each such option will be exerciseable at a price of $0.13 per share for a period of 5 years. Whitney Joint Venture Goldcorp has informed the Company that they will not be contributing to the 2014 Work Program budgeted at $3.5 M. The program was unanimously approved at a meeting of the management committee of the joint venture in late January, and described in the Company's news release dated April 8, 2014. As a result, Temex has elected to make cover payments for Goldcorp's portion to date but may also now effect a modification to the current program. Goldcorp's interest in the joint venture may be reduced in accordance with the terms of the agreement. Kim Tyler, P.Geo. Project Manager and Karen Rees, P.Geo., Vice President, Exploration of Temex Resources Corp., are the designated qualified persons responsible for the preparation of this news release. Table 1. Significant results from drill holes reported in this release | Hole | From
(m) | To
(m) | Core Length
(m) | Au (g/t)
(Uncapped) | Au (g/t)
Capped at
55 g/t Au |
| TW14-342 | 18.00 | 19.50 | 1.50 | 4.54 | |
| including | 18.00 | 18.40 | 0.40 | 16.90 | |
| TW14-343 | 23.10 | 25.00 | 1.90 | 1.74 | |
| TW14-344 | 25.40 | 30.50 | 5.10 | 3.93 | |
| including | 28.40 | 30.00 | 1.60 | 11.30 | |
| TW14-345 | 31.70 | 54.20 | 22.50 | 2.06 | |
| including | 52.30 | 54.20 | 1.90 | 5.35 | |
| TW14-346 | 24.00 | 24.50 | 0.50 | 1.30 | |
| TW14-347 | 33.50 | 34.10 | 0.60 | 1.46 | |
| TW14-351 | 35.20 | 38.60 | 3.40 | 3.02 | |
| TW14-352 | 12.50 | 19.00 | 6.50 | 11.25 | |
| including | 14.00 | 15.90 | 1.90 | 33.58 | |
| TW14-353 | 30.30 | 33.00 | 2.70 | 4.33 | |
| TW14-354* | 29.50 | 35.90 | 6.40 | 3.77 | |
| including | 32.50 | 35.90 | 3.40 | 6.25 | |
| TW14-355 | 30.40 | 33.70 | 3.30 | 2.84 | |
| including | 31.40 | 33.25 | 1.85 | 4.65 | |
| TW14-356* | 27.00 | 36.30 | 9.30 | 14.24 | 6.98 |
| including | 32.00 | 34.30 | 2.30 | 55.82 | 26.47 |
| including | 32.40 | 33.30 | 0.90 | 130.00 | 55.00 |
| TW14-357* | 31.00 | 41.30 | 10.30 | 8.216 | |
| Including | 32.90 | 40.30 | 7.40 | 11.34 | |
| Including | 35.50 | 37.70 | 2.20 | 27.28 | |
| TW14-359* | 29.50 | 46.70 | 17.20 | 2.71 | |
| including | 32.60 | 38.80 | 6.20 | 5.35 |
|