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TSX Venture Exchange:TME, Frankfurt Exchange:TQ1 TORONTO, Oct. 24 /CNW/ - Temex Resources Corp. (TSX Venture Exchange:TME, Frankfurt:TQ1) ("Temex" or "the Company") is pleased to announce drill results from a recently completed 2,345 metre, 15 hole diamond drill program on the Whitney Township and Pam Properties. The program followed up on three areas drilled by Temex in 2005-2006 (Hugh Pam Conglomerate Zone, the Reef Offset Zone, and the Reef Pit Zone) as well as tested three new target areas (Pam Property, the West Banner Zone and the South Banner Zone). Temex has the option to earn a 60% interest in the Whitney Township Property from the Porcupine Joint Venture ("PJV", a joint venture between Goldcorp Inc. and Kinross Gold Corporation). ADVERTISEMENT Six holes tested the Hugh Pam Conglomerate Zone where previous drilling outlined two gold mineralized horizons, including results of 17.17 g/t gold over 12.00 metres. All six holes intersected gold mineralization with the best intersection being from hole TW-07-45, which included an assay interval of 2.47 g/t gold over a core length of 14.10 m, including 5.18 g/t gold over 4.70 metres. The main gold bearing zone called the Hugh Pam Conglomerate Zone occurs above the Timiskaming unconformity. The second mineralized horizon, the Mulholland Shear Zone, occurs in the footwall Tisdale group volcanic rocks below the unconformity; this horizon has loosely been termed the Mulholland Shear horizon. Three holes were designed to test for the down dip and western extension of gold mineralization previously intersected by the Company at the Reef Pit zone. One drill hole was drilled to intersect the down-dip extension and this hole intersected 4.09 g/t gold over 4.15 metres, including 10.29 g/t gold over 1.35 metres. Two holes drilled to intersect the western strike extension of the Reef Pit Zone returned no significant gold however the holes did intersect alteration typically associated with gold mineralization along the Broulan Reef Mine Trend. Two drill holes were completed to further test a gold zone, called the Reef Offset Zone, discovered by Temex in 2006 (TW06-30) and interpreted to be an extension of the Broulan Reef Shear Zone. Drill hole TW07-47 was drilled above TW06-30 to intersect the up-dip extension of the Reef Offset Zone. No significant assays were reported in either drill hole. Two drill holes completed on the newly acquired Pam Property targeted a gold zone in the north-central part of the property along strike from a previously reported zone of gold mineralization in quartz-carbonate stringers within carbonate altered volcanics intercepted in 1964 by Hollander Mines. No significant assays were returned from these holes. Field Program Underway A field program consisting of geological mapping, geochemical sampling, linecutting and surface geophysical induced polarization ("IP") and magnetometer surveys is underway. The linecutting and geophysical surveys will target the northwestern part of the property where very little previous exploration has occurred. Historic exploration indicates the presence of anomalous gold in till in the area as well as in bedrock from previous overburden drilling campaigns. Two of the reverse circulation drill holes had till concentrate samples which returned values of 11.27 g/t gold and 5.79 g/t gold, both of which are considered by Temex to have high potential to represent a proximal undiscovered bedrock source. The latter sample occurs approximately 100 metres along strike to the east of an historic drill hole which intersected 2.74 metres grading 9.69 g/t gold. Seven of the overburden holes also encountered auriferous bedrock gold mineralization with results up to 1.93 g/t gold. The Property is strategically located along strike 2.5 km to the west of the Pamour mine (total historic production from underground and open pit of 52.2 million tons at 0.09 ounces gold per ton for 4.7 million ounces of gold) where the PJV are currently conducting an open pit gold mining operation. The Whitney Property includes the former Broulan Reef and Hallnor gold mines, the latter of which produced 4.23 million tons at a grade of 0.40 ounces gold per ton (1.69 million ounces gold) and was one of the two highest grade producers in the Timmins camp. Temex has the right to explore the former Hallnor Mine below the 1000 feet elevation (news release March 31, 2005). The Timmins camp is one of the largest gold camps in the world with total historical production in excess of 60 million ounces of gold. Temex is a well-funded Canadian exploration company focused on advancing its precious metal, diamond, nickel and uranium projects in Manitoba and Ontario. On behalf of the Board of Directors, "Ian Campbell" Ian Campbell President and CEO (x)The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of |
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| aus der Diskussion: | FAKTENTHREAD: JAMES BAY LOWLANDS (firmenunabhängige Übersicht) |
| Autor (Datum des Eintrages): | Broker_Hans (24.10.07 14:19:13) |
| Beitrag: | 23 von 243 (ID:32133478) |
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