Temex intersects significant gold on Croxall Property West Timmins Gold
District
TSX Venture Exchange:TME,
Highlights: - Visible gold in altered porphyry unit yielded 7.81 g/t gold over 1.10 metres and 5.28 g/t gold over 1.90 metres down-dip of historical intersection of 2.88 g/t gold over 0.60 metres - Altered gold-bearing porphyries may be related to other known porphyries further to the west at the West Timmins Mining Inc. ("West Timmins Mining") and Lake Shore Gold Corp. ("Lake Shore") properties - Widespread zones of intense iron carbonate-sericite alteration, shearing and pyrite-arsenopyrite mineralization within favourable stratigraphy north of the Porcupine-Destor Fault Zone are currently being drill-tested at depth
The Croxall Property covers approximately 2.5 kilometres of highly favourable stratigraphy north of the Porcupine-Destor Fault, where the majority of the gold production has occurred in the 65 million ounce Timmins Gold Camp, and is due east and along strike of the Thorne Property currently being explored by West Timmins Mining. There has been a significant amount of renewed interest in exploration within this area recently with the discovery of substantial gold mineralization on the Lake Shore and West Timmins Mining properties.
The first five of seven planned drill holes have been completed as part of a 2000 metre Phase I diamond drilling campaign. This program of widely spaced holes is being drilled across the property in order to evaluate broad zones of strong sericite-carbonate alteration, shearing, sulphide mineralization, and porphyry intrusions associated with anomalous gold values up to and including 2.88 g/t gold over 0.60 metres, 2.03 g/t gold over 0.91 metres and 1.59 g/t over 1.5 metres. The program is also designed to undercut some of the historical gold intercepts at depth.
Hole TC09-01 was drilled to undercut historical drill hole P0-88-2 which had yielded 2.88 g/t gold over 0.60 metres within a porphyry intrusion. TC09-01 intersected a similar 4.4 metre wide interval of altered porphyry, approximately 100 metres further down dip and yielded 5.28 g/t gold over 1.90 metres including 7.81 g/t over 1.10 metres. The altered porphyry interval contained minor quartz, pyrite, molybdenite, sphalerite and fine visible gold. Hole TC09-02 tested a favourable sediment-basalt contact zone and encountered substantial amounts of sulphides and alteration but no significant gold values.
Commented
Henry Hutteri P.Geo., is the designated qualified person responsible for the preparation of this news release. Temex is a Canadian exploration company advancing its precious metal projects in Ontario.
On behalf of the Board of Directors, "Ian Campbell" Ian Campbell President and CEO
Note: Temex has implemented a quality control (QA/QC) program which includes the use of standards and blanks. Samples of split NQ core were transported by Company personnel to Swastika Laboratories in Swastika, Ontario in sealed bags. The remaining half of the core was kept as a permanent record and stored at a secure facility in Timmins. The core was analyzed using a 30 gram standard fire assay method. Pulp metallic gold assaying was performed as required. Intervals reported are core lengths. True widths are unknown at this time.
* The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release *
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For further information: contact Ian Campbell, President and CEO or Bruce Durham, Executive Chairman at (416) 862-2246 or visit www.temexcorp.com
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