Temex Resources Corp. (CVE:TME) unveiled Thursday the first batch of results from a resource definition drilling program targeting the Upper Hallnor Mine Zone, which is on the eastern portion of the company's Whitney gold project in northeastern Ontario.
Highlights included 2.83 grams per tonne (g/t) gold
over 11.5 metres, including 11.60 g/t gold over 1.00 metre in hole
TW11-164, and 6.10 g/t gold over 4.00 metres, including 11.05 g/t gold
over 1.17 metres in hole TW11-166.
In addition, hole TW11-167
intersected 2.06 g/t gold over 21.00 metres, including 9.28 g/t gold
over 1.00 metre, while hole TW11-169 hit 3.18 g/t gold over 4.00 metres
and 14.67 g/t gold over 3.80 metres.
Temex is in the midst of an
aggressive program designed to define near-surface gold resources
typical to what has been mined at the adjacent Pamour and Hoyle mine
The past-producing Hallnor Mine was previously the
highest grade, multi-million ounce gold mine in Timmins, which remains
Canada's largest gold producing area.
The company said the
results reported Thursday are from five holes drilled on the eastern
portion of the Upper Hallnor Mine area.
"We are very pleased
with these results which continue to support our expectation that
significant amounts of high-grade, near surface gold mineralization
remains to be found at the Upper Hallnor Mine area," said president and
CEO, Ian Campbell.
"Given the robust gold price, Timmins is experiencing a renewed focus
on open pit gold mining, particularly in areas containing historic
underground gold mining sites and Hallnor is one of many promising
exploration targets located on the large Whitney property."
company said drilling intersected multiple zones of vein and vein
stockworks which occur primarily in Timiskaming sedimentary rocks - the
same rock package from which commercial mining has occurred directly on
strike to the east at both the Hoyle and Pamour mine sites.
The holes reported today, together with prior results, now define a
strike length of 230 metres, with multiple zones of gold mineralization
open in all directions.
Notable results from previous drilling include 3.29 g/t gold over
30.20 metres, including 66.0 g/t gold over 0.8 metres in hole TW10-112.
current drill program is focused on providing sufficient data to
establish an initial NI 43-101 compliant resource estimate. A total of
47 holes for 14,200 metres have been drilled to date in the campaign,
with additional drill results expected over the next several months,
Whitney is an advanced gold project that includes
four kilometres of the prolific Timmins gold trend. It has several
near-surface gold targets including Upper Hallnor, Upper Broulan Reef, C
Zone, and Q Zone.
The drill campaign is being conducted under a joint venture between Temex, which holds 60 percent, and Goldcorp (TSE:G), which holds the remainder.
company's Juby gold project in Ontario has NI 43-101 compliant
resources of 22.3 million tonnes at a grade of 1.30 g/t gold for 934,645
ounces of gold in the indicated category and 28.2 million tonnes at a
grade of 1.00 g/t gold for 905,621 ounces of gold in the inferred
category, both at a cut-off grade of 0.40 g/t gold.