TORONTO, June 27, 2011 /CNW/ – Temex Resources Corp. (TSX-V: TME) (FWB: TQ1) (“Temex” or “the Company”) announces that diamond drilling is set to begin on its Latchford Gold Project located in northeastern Ontario. An initial 2,000 metre diamond drill program will test two priority areas with drill targets selected on combined results of several field programs which outlined trends of anomalous gold in bedrock with coincident soil geochemical and induced polarization and magnetic geophysical anomalies.
Drilling set to begin within two target areas
Proterozoic gold system defined by widespread calcite, hematite and copper enriched fractures and veins in a region previously known only for silver mining
Assays from select bedrock grab samples include 112.29 g/t, 49.75 g/t, 11.64 g/t, 9.14 g/t, 4.53 g/t gold
Coincident soil and Titan 24 DCIP anomalies within bedrock gold trends to be drill tested
The Latchford Gold Project was initiated following the prospecting discovery of vein-style bonanza gold mineralization (>6,000 g/t gold or 175 ounces per ton gold) in a block of rock known as the Brett Boulder. High-grade gold occurs in calcite veins with associated cobalt-nickel-silver minerals similar to host veins at the Cobalt and Gowganda silver camps, which produced in excess of 550 million ounces of silver from Proterozoic aged bonanza silver veins. The Brett Boulder is located 20 kilometres south of the Cobalt silver camp sharing a similar geological setting near the unconformity of flat-lying early Proterozoic rocks of the Cobalt Embayment and underlying Archean volcanic rocks.
A comprehensive field program on the Brett Property (claims hosting the Brett Boulder) in 2004 identified several drill targets, some of which were tested in a 16 hole drill program. The initial program did not intersect the bedrock source of the high-grade boulder, however it is still believed to be from a local bedrock source. Following the 2004 program, the Rib Lake Property, contiguous to the south and within 75 metres of the Brett Boulder discovery, was acquired as a key exploration property (news release December 18, 2007). Priority targets have been identified for drill testing during the current program to locate potential high-grade gold veins.
A second target area located 5 kilometres north of the Brett Boulder, was first identified in 2009 when prospecting after forestry operations discovered multiple new gold in bedrock occurrences with selective grab samples returning gold assays ranging from 0.51 g/t gold up to and including 4.08 g/t, 4.78 g/t, 5.52 g/t and 11.97 g/t gold (news release April 07, 2009) from mineralized fractures up to several centimetres wide. Follow-up work recently expanded the highly anomalous gold in bedrock trend to the south and east with several significant individual gold values from grab samples including 112.29 g/t, 49.75 g/t, 11.64 g/t, 9.14 g/t, 6.24 g/t and 4.53 g/t gold (news release November 24, 2009).
The surface extent of this highly anomalous gold trend has now been expanded to at least 1.5 kilometres by 500 metres and is associated with anomalous copper, silver and iron oxide mineralization. The host fractures crosscut flat-lying Proterozoic sediments interpreted to be near the unconformity with underlying Archean rocks. Detailed soil geochemical sampling and Titan 24 DCIP geophysical surveys completed in 2009 and 2010 have identified several coincident high priority anomalies which are set to be drill tested.
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.
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 exploring its Timmins Whitney Property, in partnership with Goldcorp, and expanding its NI 43-101 gold resource at the Juby Gold Project (Note 1, news release June 15, 2010) with an updated resource estimate planned for fall 2011. Temex also has a NI 43-101 compliant resource for tailings piles on its Gowganda Silver Project of 1,940,000 tonnes grading 47.5 g/t silver for ~2,960,000 contained ounces of silver in an Indicated category using a cut-off grade of 10.0 g/t silver (Note 2, news release June 8, 2011).
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