🕐25.07.11 - 16:27 Uhr
TEMEX FILES TECHNICAL REPORT FOR GOWGANDA SILVER RESOURCE IN TAILINGS
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Re: News Releases - Monday, July 25, 2011
Temex Files Technical Report For Gowganda Silver Resource In
Tailings
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News Release NR15-2011
TSX Venture Exchange: TME, Frankfurt Exchange:TQ1
July 25, 2011 (TORONTO, ONTARIO): Temex Resources Corp.
(TSX Venture
Exchange:TME, Frankfurt:TQ1) ("Temex" or "the Company" or "the
Corporation") announces that it has filed the report entitled:
"Technical Report on the Gowganda Silver Project including a Resource
Estimate of the Surface Tailings Deposit, Gowganda, Ontario" with
regulatory authorities, pursuant to Company news release dated June 8,
2011.
The project, located 3 kilometres northeast of Gowganda, Ontario, is
actively being explored by Temex.
Assays are pending from a recently
completed Phase 1 diamond drill program designed to test the extension
of several high grade silver veins reported by the previous operator
Sandy K Mines ("SKM"; 1988-1995) and various exploration targets (news
release April 28, 2011).
The report dated July 08, 2011, was authored by Allan Armitage, Ph.D.,
P.Geol., Alan Sexton, M.Sc., P.Geo., and Joe Campbell, B.Sc., P.Geo.,
all of GeoVector.
GeoVector is a consulting firm based in Ottawa,
Ontario specializing in resource estimation, project assessment and
project management.
The report outlines an Indicated Mineral resource estimate for the
tailings piles at a silver cut-off grade of 10.0 grams per tonne
("g/t") is ~1,940,000 tonnes grading 47.5 g/t silver for ~2,960,000
contained ounces of silver.
The estimate and technical report conform
to National Instrument 43-101 Standards of Disclosure for Mineral
Projects (NI 43-101).
The effective date of this mineral resource
estimate is June 08, 2011.
The tailings were generated from the Miller Lake OBrien Silver Mine,
Ontarios largest past-producing Cobalt-style silver mine outside of
Cobalt, Ontario with historical production of 40.7 million ounces of
silver at an average grade of 22 ounces per ton silver (DMBW, 1990)
between 1910 and 1972.
The 2011 mineral resource estimate is based on
764 auger, drive pipe and sonic drill holes (3,012 metres) and 2,039
assay values.
Drilling was completed in 1981, 1987 and 2000.
Alan Sexton, M.Sc., P.
Geo., is the Qualified Person, as defined by NI
43-101, for the Project, and has reviewed the technical information in
this release.
GeoVector has reviewed and approved the information in
this news release.
Corporate Update
Temex is pleased to announce that at the Annual and Special Meeting
("ASM") of Shareholders held July 19, 2011 Messrs.
Peter Akerley,
Nelson W.
Baker, Ian Campbell, Bruce Durham and Angus Footman were
re-elected as directors of the Corporation.
Shareholders also approved
the appointment of parker simone LLP, Chartered Accountants as auditors
of the Corporation for the ensuing year, and the Corporations rolling
stock option plan which, among other things, provides that the Board of
Directors of the Corporation may grant up to ten percent of the total
number of common shares issued at the date of stock option grant.
At a meeting of the Board of Directors of the Corporation held after
the ASM, management appointments were made as follows: Ian Campbell was
appointed to the offices of President and Chief Executive Officer;
Edward J.
Badida, CA was appointed to the offices of Chief Financial
Officer and Corporate Secretary; and Bruce Durham was appointed as
Chairman of the Board.
About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio
of precious metals properties in northeastern Ontario, a world class
mining district.
The Gowganda Silver Property is located 20 kilometres
east of the 100% owned Juby Lease Property where the Company is
currently working to expand the National Instrument 43-101 ("NI
43-101") compliant resource of 14.1 Mt at a grade of 1.36 g/t gold for
614,000 ounces of gold in the indicated category plus 16.5 Mt at a
grade of 1.14 g/t gold for 602,000 ounces of gold in inferred
resources, both at a cut-off grade of 0.50 g/t gold (Note 1, news
release June 15, 2010).
Note 1: Information regarding the mineral resource estimate on the Juby
Main Zone can be found on the Companys news release dated June 15,
2010, and the technical report filed on SEDAR, dated July 30, 2010.
The
Mineral Resource Statement for Juby was constructed for Temex by
GeoVector Management Inc., Ottawa, Ontario according to the "CIM
Standards on Mineral Resources and Reserves: Definition and Guidelines"
(December, 2005), by Allan Armitage, Ph.D., P.
Geol.
and Joe Campbell,
B.Sc., P.Geo., both "independent qualified persons" as defined by NI
43-101.
Forward Looking Statements:
This news release includes certain "forward-looking statements".
Such
forward-looking statements involve risks and uncertainties.
The
results or events predicted in these forward-looking statements may
differ materially from actual results or events.
The Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF
THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
-30-
For more information please visit www.temexcorp.com or email:
or
phone: 416-862-2246 toll free: 866-373-6287
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Copyright (c) 2011 TEMEX RESOURCES CORP (TME) All rights reserved.
For more information visit our website at http://www.temexcorp.com/ or
send mailto:
Message sent on Mon Jul 25, 2011 at 7:04:16 AM Pacific Time
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