Temex Resources Corp. (TSX-V: TME, FWB: TQ1) announces additional drill results from ongoing drilling at its 100% owned Juby gold deposit located in the Shining Tree gold district of northeastern Ontario.
Widely spaced drilling continues to demonstrate excellent continuity, consistent grades of gold mineralization and high potential for definition of economic bulk tonnage resources.
Highlights:
- Hole JU10-109: 47.00 metres of 1.36 g/t gold, including 8.90 metres of 2.23 g/t gold
- Hole JU10-108: 40.80 metres of 1.12 g/t gold, including 9.00 metres of 2.06 g/t gold
- Deposit significantly extended to west with wide step-out drilling
- Gold deposit remains open at depth and 1.5 km along strike to the west
Drill intersections for the two holes reported today are located approximately 125 metres apart with both holes cutting significant gold mineralization including anomalous gold over core lengths of close to 100 metres.
Hole JU10-109 cut the gold zone 100 metres west of previous drilling (JU-19) and significantly extends the Juby deposit westward at depth. JU10-09 intersected 47.00 metres grading 1.36 g/t gold including two higher grade sections, 8.90 metres grading 2.23 g/t gold and 16.90 metres of 1.71 g/t gold. JU10-08 cut 40.80 metres grading 1.12 g/t gold with a higher-grade 9.00 metre interval grading 2.06 g/t gold.
The Juby deposit currently contains a National Instrument (NI) 43-101 compliant Indicated resource of 614,000 ounces of gold grading 1.36 g/t gold and Inferred resource of 602,000 ounces of gold grading 1.14 g/t gold, both at a cut-off grade of 0.50 g/t gold.
The current drilling is focused on expanding the current resources in the east half of the property which covers less than one-half of the strike length of the Juby gold structure. The western 1.5 km strike extent of the structure remains favourable for resource expansion and will be drilled commencing in the second quarter of 2011.
The disseminated style of gold mineralization at Juby continues to provide excellent continuity allowing for wide-spaced drilling to achieve upgraded NI 43-101 gold resources. Gold mineralization occurs within sericite-silica-albite-pyrite altered Timiskaming sedimentary rocks and feldspar porphyries.
In addition to the ongoing drilling to expand the Juby Main Zone gold resources, Temex recently commenced testing several new exploration targets developed from the 2010 surface exploration program on the Juby Property and the Juby JV Property in partnership with Goldeye Explorations Ltd. (news release January 10, 2011).
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.