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Temex Resources to Commence Diamond Drilling at Juby Joint Venture Property

Temex Resources Corp. (TSX-V: TME, FWB: TQ1) announces that diamond drilling is set to commence immediately on its Juby Joint Venture Property held with Goldeye Explorations Ltd. in which Temex holds a 60% interest and is the operator. A 2,500 metre 15-hole Phase I diamond drill program will test six target areas discovered during the recently completed surface exploration program.

Highlights:

  • Six new priority gold targets to be tested in the emerging Shining Tree gold district.
  • 2 km long gold-in-bedrock trend identified south of Juby Main Zone with coincident IP (induced polarization) anomalies.
  • Test high-grade surface gold showings (0.01 to 30.6 g/t Au) with coincident IP chargeability and gold in soil anomalies.
  • Test strike extension of the 100% owned Juby Main Zone Gold Deposit (>1M oz gold).

"We are very pleased with the results of our recently completed field exploration program and the number of quality drill targets that have been generated on the Joint Venture ground and we are excited about the upcoming drill program. Our intent is to make new discoveries and define gold resources that will add to our current resource on our adjacent 100% owned Juby Main Zone deposit," commented Ian Campbell, President and CEO of Temex Resources Corp."

The six priority targets include a 2 km long gold trend (grab samples up to 5.6 g/t Au) with coincident IP anomalies 500 metres south of and parallel to the Juby Main Zone gold deposit. Historic work dating back to the 1930's on one portion of this gold trend reported drill intersections and trench sampling that include up to 2.23 g/t gold over 18.2 metres and 3.20 g/t gold over 12.0 metres.

Drilling will also test the western extension of the Juby Main Zone where it crosses the Joint Venture ground. Previous drilling by Temex and Goldeye intersected 1.26 g/t gold over 61.60 metres and 3.63 g/t gold over 6.76 metres. This zone remains wide open for expansion at depth.

Several targets occur to the west and north of the Juby Main Zone and are defined by new coincident gold in bedrock and soil anomalies with coincident IP chargeability anomalies. Rock samples collected include gold assays from grab samples of 0.01 to 30.6 g/t gold and gold in soil anomalies of 15 to 420 ppb gold. The northernmost new target is within 800 metres due east of Creso's Minto gold deposit.

The targets surround the Juby Main Zone located on the Company's 100% owned Juby Lease, host to NI 43-101 compliant Indicated resource of 614,000 ounces of gold grading 1.36 g/t gold at a cut-off grade of 0.50 g/t gold and Inferred resource of 602,000 ounces of gold grading 1.14 g/t gold at a cut-off grade of 0.50 g/t gold.   

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.

Source:

TEMEX RESOURCES CORP.

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