Wednesday, 13 June 2012

Temex Resources bolsters board with Trelawney CEO and Ron Goldsack

Temex Resources Corp. (CVE:TME) announced Wednesday the appointments of Greg Gibson and Ron Goldsack to the company’s board of directors, effective immediately.
"I am delighted to welcome both Greg and Ron to the Board of Directors of Temex," said the company’s president and CEO, Ian Campbell.
"Greg brings to Temex a wealth of experience in all aspects of junior mining company operations and his contributions will be invaluable as we take our Company to the next level.
"Ron's vast experience in corporate finance greatly strengthens our team and he will play an important role in accelerating our growth."
Gibson has 30 years of experience in the mining industry having worked as a mine manager in gold and copper mines in Australia, a nickel mine in Timmins, Ontario, and a gold mine located in British Columbia.
He is currently the president, CEO and a director of Trelawney Mining and Exploration (CVE:TRR), and has worked for various companies such as JS Redpath in Canada and the USA, Dynatec Mining in Canada and the USA, Yilgarn Star Gold Mine in Australia, and Copper Mines of Tasmania in Australia.
Goldsack has been working in the investment business for decades, with experience in corporate finance. He was a VP of Wood Gundy and Co. in Toronto and New York, where he helped build the research department and was also active in the company’s institutional sales, trading and corporate finance departments.
Goldsack was a co-founder, vice chairman and director of Gordon Capital for roughly 28 years, and then was a partner at Griffiths McBurney and Partners for 3 years.
He served as a director of Goldcorp (TSE:G), and currently acts as a consultant to public and private companies regarding corporate finance and M&A.
Along with these appointments, Nelson Baker and Angus Footman have retired from the company’s board of directors.
Temex is a Canadian exploration company focused on its portfolio of precious metals properties in northeastern Ontario.
The company recently unveiled additional high grade gold intersections from drilling at the Upper Hallnor Mine area of its joint venture Whitney property in Timmins, Ontario.
Whitney is an advanced gold project that includes four kilometres of the prolific Timmins gold trend that remains the largest gold producing district of Canada. Whitney is owned 60 percent by Temex and 40 percent by Goldcorp (TSE:G).
The holes reported last week are the last of a program of 32 holes totaling 5,295 metres drilled along a 600 metre strike length in the Upper Hallnor Mine area, targeting the Hallnor South Vein, 1-55 Vein west extension and Hallnor Footwall zones, the company said.
Highlights of the results included results from the Hallnor south vein area, where hole TW12-205 returned 3.45 grams per tonne (g/t) gold over 13.50 metres including 15.15 g/t gold over 0.50 metres.
Since October 2011, the company said a total of 50 holes for 17,750 metres have been drilled in this campaign, which is designed to define gold resources that may be mined near surface.
Aside from Whitney, the company also holds the Juby gold project, which contains the Juby Main Zone resource of 934,645 ounces of gold in the indicated category and 905,621 ounces of gold in the inferred category, both at a cut-off grade of 0.40 g/t gold.
The company also has an NI 43-101 compliant resource for tailings material on its Gowganda silver project in Ontario.
The tailings piles contain a NI 43-101 compliant resource of 1.94 million tonnes grading 47.5 g/t silver for a contained resource of 2.96 million ounces of silver in the indicated category.
Shares of Temex increased 19.23 per cent to 15.5 cents Wednesday morning.

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