Re: News Releases - Tuesday, November 04, 2008
Temex and Nuinsco Commence Exploration on Uranium Project
NEWS RELEASE NR25-2008
TSX Venture Exchange:TME, Frankfurt Exchange:TQ1
TORONTO, ONTARIO: Temex Resources Corp. (TSX Venture Exchange:TME,
Frankfurt:TQ1) ("Temex" or "the Company") and partner Nuinsco Resources
Limited ("Nuinsco") (collectively "the Companies") announce that field
work is well underway on the Marijane Lake and Huston Lake Uranium
Properties (the "Claims"). The Claims are located in northwestern
Ontario 80 km north of Kenora and in eastern Manitoba 75 km east of Lac
du Bonnet, and were acquired by staking in spring 2007 to cover a large
and locally intense airborne radiometric anomaly detected on government
surveys. Nuinsco has the option to earn a 50% interest in the Claims
by expending a total of $750,000 over a two year period and by making
cash payments and share issuances to Temex (news release May 15, 2008).
The current program budget of $500,000 is funded 100% by Nuinsco;
Temex is the operator.
-2,705 line-km helicopter-borne radiometric and magnetic geophysical
surveys completed in May 2008 detailed numerous high-quality anomalies
ranging from 0.2 to 0.5 km in length.
-Yellow staining on samples collected during initial prospecting on a
portion of the Claims in 2007 identified as the secondary uranium
minerals, uranophane and boltwoodite; assay values from these samples
ranged from 0.047% to 0.13% U3O8;
subsequent work identified the primary uranium-bearing minerals
uranothorite and coffinite in host granitic rocks.
-Ground follow-up of airborne anomalies well underway and several other
areas have been identified with similar yellow staining and/or high
-Diamond drilling of preliminary targets planned for December.
Prospecting and geological evaluation is well underway on the Claims.
The program is designed to follow up on numerous well-defined
radiometric anomalies identified by a 2,705 line-km helicopter-borne
radiometric and magnetic geophysical survey flown in May 2008 by Geo
Data Solutions Inc. ("GDS"). The gamma radiation spectrometer survey
collected total counts for all radioactive sources as well as separate
counts for uranium, potassium, and thorium. The survey was flown at
100 metre line spacing to provide detailed resolution over the Claims
which cover several prominent equivalent uranium radiometric anomalies
apparent on regional government surveys (1977) flown at 800 metre line
spacing or greater. The detailed survey provided greater definition to
focus the current prospecting program and identified new hotspots
ranging from 0.2 to 0.5 km long within regional anomalous trends up to
several km in length.
The majority of the airborne anomalies are located within and around
the western margins of the 30 km by 10 km east-west trending Marijane
Lake Batholith, a pink to white, 2-mica (alaskite) granite similar in
lithology to that which hosts the large tonnage, low grade R�ssing
Uranium Mine in Namibia. Individual target areas include Marijane
Anomaly 137 from which reconnaissance sampling in 2007 returned values
ranging from 0.047% to 0.130% U3O8 from random grab samples.
Mineralogical work, using a combination of X-ray diffractometry and
electron microprobe analysis, has confirmed the presence of the
secondary uranium minerals uranophane and boltwoodite, and has also
identified the primary uranium-bearing minerals uranothorite and
coffinite in the host granitic rocks. This anomaly is approximately 1
km in length and up to 150 metres in width. Several other areas with
similar yellow staining have already been identified in the field
during the current program.
Prospecting on the RL anomalous trend, which is 4 km in length and up
to 500 metres in width and with several hotspots up to 500 metres long
and 100 metres in width, has identified yellow staining similar to the
Marijane anomaly and locally exhibits scintillometer counts with
background over tens of metres exceeding 20 times background and local
hotspots of up to 100 times background. The geological environment
differs from the majority of the occurrences on the Claims in that
dykes or apophyses of the Marijane Lake Batholith occur interspersed
within country rock consisting of migmatite and iron formation.
Ian Campbell, 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, nickel, diamond, and uranium
projects in Ontario. For further information, contact Ian Campbell,
President and CEO or Bruce Durham, Executive Chairman at 416-862-2246
or visit www.temexcorp.com. Interested parties may visit the Temex IR
Hub at http://www.agoracom.com/ir/Temex where they can post questions
and receive answers or review questions and answers already posted by
other parties. Questions, correspondence and requests for names to be
added to the e-mail list to receive all future press releases and
updates in real time can be emailed to mailto:TME@agoracom.com.
On behalf of the Board of Directors,
President and CEO
*The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release*
Copyright (c) 2008 TEMEX RESOURCES CORP (TME) All rights reserved.
For more information visit our website at http://www.temexcorp.com/ or
Message sent on Tue Nov 4, 2008 at 7:08:18 AM Pacific Time