TORONTO, Jun 26, 2008 -
Temex Resources Corp. (TSX Venture:TME, Frankfurt:TQ1) ("Temex" or the "Company") and partner Goldeye Explorations Limited ("Goldeye"), announce results from a diamond drill program recently completed on the Juby North JV Property located 20 km west of Gowganda, Ontario. The 10 hole, 1,980 metre program was completed as part of an expanded $400,000 exploration program on the Property (news release Feb 26, 2008) bringing the total program to 17 holes for 3,185 metres.
Highlights- Western Juby Main Zone ("JMZ") extended at depth with 1.26 g/t gold
over 61.60 metres including 2.47 g/t gold over 22.30 metres and
5.43 g/t gold over 3.65 metres.
- Gold zones extended along strike and to depth with intervals up to
1.66 g/t gold over 4.03 metres including 5.14 g/t gold over
0.85 metres.
- Phase 3 field program recommended to begin late summer
Drilling continued to expand at depth the western extension of the JMZ, defined by previous intersections including hole JU-07-93 which yield 6.76 metres grading 3.31 g/t gold including 2.52 metres grading 7.46 g/t gold (news release Nov 7, 2007). Two holes in the current program (JU-08-94 and JU-08-95) tested the structure below the previous intersections, with both holes intersecting broad zones of gold mineralization enclosing higher grade cores. JU-08-94 yielded an interval of 1.26 g/t gold over 61.60 metres including 2.47 g/t gold over 22.30 metres and a higher grade interval of 5.43 g/t gold over 3.65 metres. JU-08-95 drilled 50 metres along strike intersected a narrower interval of JMZ mineralization of 1.21 g/t gold over 4.23 metres, but also intersected a new gold zone below the JMZ which yielded 1.86 g/t gold over 5.95 metres including 2.23 g/t gold over 4.50 metres, and including 5.07 g/t gold over 1.20 metres. The gold zone has now been tested over a strike length of 100 metres and to a vertical depth of 180 metres where it remains open to expansion.
Four drill holes extended the strike and depth extension to gold mineralization discovered during the 2007 drill campaign including hole JU-07-89 which intersected multiple gold zones including 5.33 metres grading 2.33 g/t gold, 1.50 metres grading 4.53 g/t gold, 3.41 g/t gold over 2.94 metres, 1.22 g/t gold over 10.06 metres and 15.0 g/t gold over 2.15 metres. These intersections are within shear zones containing altered siltsones and feldspar porphyry intrusive units accompanied by intense silicification and quartz veining. Hole JU-08-99, drilled 50 metres along strike to the west of hole JU-07-89 intersected 0.91 g/t over 5.39 metres and a second interval of 0.57 g/t gold over 12.37 metres, while hole JU-08-100 drilled below JU-07-89 intersected several auriferous zones including 0.94 g/t gold over 6.48 metres, 0.82 g/t gold over 3.90 metres, 0.58 g/t gold over 8.98 metres, and 1.66 g/t gold over 4.03 metres, including 5.14 g/t gold over 0.85 metres.
A new zone of gold mineralization was encountered in hole JU-08-98 grading 2.39 g/t gold over 1.73 metres on the most western section drilled on the Property. Four other drill holes tested both discrete and broad IP chargeability anomalies to the north in areas of the Property not previously tested. The cause of the anomalies was determined to be iron sulfide concentrations in mafic to ultramafic volcanic rocks and no significant gold values were encountered.
The Company is encouraged by the results as the program extended the auriferous zones and demonstrated the potential for not only significant strike lengths with the potential for higher grade shoots, but also the potential for additional gold discoveries. Additionally, the discovery of a new gold zone in an area in which there has been no previous work indicates that there are other areas of the property in which to expand the potential. A program of geological mapping incorporating the results of the current drilling has been recommended to continue to advance the program.
The Juby North Property covers 5,520 acres and is subject to the terms of a 60:40 Joint Venture Agreement between Temex and Goldeye; Temex is the operator. The areas to be drilled are located within 2 km to the northwest of the Juby Main Zone, located on the 100% Temex owned Juby Lease Property, which contains a significant NI43-101 compliant gold resource (news release Feb 16, 2005; www.sedar.com). The Juby Lease includes an indicated resource of 479,000 ounces of gold grading 1.73 g/t gold at a cut-off grade of 1.0 g/t gold, including a core of 315,000 ounces of gold at 2.20 g/t gold at a cut-off grade of 1.5 g/t gold, and an inferred resource of 120,000 ounces of gold grading 2.03 g/t gold at a cut-off grade of 1.5 g/t gold. This resource is contained from surface to a vertical depth of 400 metres and the area is unexplored at depth.
Ian Campbell, P. Geo., is the designated qualified person responsible for the preparation of this news release. Temex is a well-funded Canadian exploration company advancing its precious metal, nickel, diamond, and uranium projects in Ontario. For further information, contact Ian Campbell or Bruce Durham at 416-862-2246 or visit www.temexcorp.com. Investors are invited to visit the Temex IR Hub at
http://www.agoracom.com/ir/Temex where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to
TME@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
On behalf of the Board of Directors,
"Ian Campbell"
Ian Campbell
President and CEO
*The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release*
The drill core was sampled using a diamond saw to cut the core in half with one half returned to the core tray and the other half put into the sample bag. The samples were transported by Temex personnel to Swastika Laboratories in Swastika, Ontario. Gold analyses were performed using standard fire assay techniques. Quality control/quality assurance standard and blank samples were inserted into the sample stream. No appreciable discrepancies were observed in the results from these samples.
For further informationTEMEX RESOURCES CORP, 1660-141 Adelaide Street West,
Toronto, Ontario, CANADA, M5H 3L5, tel: (416) 862-2246, fax: (416) 862-2244,
website:
http://www.temexcorp.com, email:
info@temexcorp.com