Temex Resources mobilizes second drill rig to Whitney, designed to expand resources

Temex Resources Corp. (CVE:TME) said Wednesday that a second drill rig has now been mobilized to its joint venture Whitney property in Ontario, as the company's drill program is designed to provide enough data to establish initial NI 43-101 complaint resources on several near-surface areas of the project.

The Whitney property, located in the centre of the Timmins gold camp, hosts three past producing mines including the high grade Hallnor Mine, which produced 1.7 million ounces of gold at an average grade of 13.7 grams per tonne gold.

The drill campaign is focused on testing several targets, with the primary objective being to delineate NI 43-101 compliant gold resources at the Hallnor 6 Vein area and the 1-55 North and South Veins in the Upper Hallnor Mine, based on positive results received by Temex in a first phase program earlier this year.

During this first phase at the 6 Vein area, all nine holes cut broad intervals of north and south dipping quartz veins, highly anomalous gold, with occasional fine-grained visible gold, the company said. According to Temex, the gold mineralization in the 6 Vein area is open for expansion and is viewed as a potential bulk tonnage underground target. Highlights of the results included 9.97 grams per tonne (g/t) of gold over 6.7 metres, including 66.0 g/t gold over 0.8 metres, and 4.12 g/t gold over 19.3 metres, including 5.81 g/t gold over 11.4 metres.

So far, the Hallnor 6 Vein area has been identified over a strike length of roughly 230 metres at depths ranging from around 150 to 300 metres from surface.

Meanwhile, the 1-55 veins have been identified over a strike length of 350 metres and extend from surface to approximately 150 metres vertical depth. Notable results from this area included 18.74 g/t gold over 2.1 metres, including 50.10 g/t gold over 0.7 metres, and 2.28 g/t gold over 12.0 metres, including 5.46 g/t gold over 4.9 metres.

The drilling program will also test the C Zone, which the company sees as a target for delineation of a potentially open pittable gold resource located between the Hallnor and Broulan Reef Mines. The C Zone testing is a follow up on the high grade intercepts received to date from the Upper Broulan Reef veins. Drilling will look for additional near-surface flat vein and quartz stockwork zones.

The exploration program is being conducted under the terms of a joint venture agreement between Temex, which holds a 60% stake, and Goldcorp Canada (TSE:G), which holds the remaining interest.

During the option period prior to earn-in, Temex completed 88 drill holes for 20,574 metres. Upon forming the joint venture with Goldcorp and approving the initial budget of $1.5 million in June 2010, 46 drill holes for 14,205 metres were completed in 2010.

In 2011 thus far, Temex has completed an additional 38 drill holes for 8,097 metres of an approved 12,000 metre program. The remainder of this approved $1 million campaign is currently in progress, with another $1.5 million drill program planned to begin before the end of the year.