Temex Completes Major Land Consolidation, Juby Gold Project, Ontario
Published : November 23, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Temex Completes Major Land Consolidation, Juby Gold Project, Ontario

TORONTO, Nov. 23, 2012 /CNW/ - Temex Resources Corp. (TSXV: TME), (FWB: TQ1) ("Temex" or "the Company") announces that, further to its press release dated November 15, 2012, it has acquired from Goldeye Explorations Limited ("Goldeye") significant landholdings in Tyrrell Township, northeastern Ontario (the "Acquisition"). The location of the properties subject to the Acquisition is outlined on a map attached to the November 15, 2012 press release and is also available on the Company's website at www.temexcorp.com.

As a result of the Acquisition, Temex has increased its 100% ownership in the area by over ten-fold from 1,343 acres to 14,423 acres. The acquired landholdings are contiguous and complementary to the existing Temex assets in Tyrrell Township and include a large block of claims in which Goldeye owned a 100% interest, as well as Goldeye's 40% interest in the claims comprising the Juby Joint Venture Property in which Temex held the remaining 60% interest.

The combined assets form the dominant landholdings in this emerging gold district located 45 kilometres southwest of AuRico's Young Davidson Project and 70 kilometres east of IAMGOLD's Cote Lake Project. Importantly, they consolidate the land in the immediate vicinity of Temex's Juby Main Zone gold resources and at the same time extend Temex's 100% ownership of the important Tyrrell Structural Zone ("TSZ"), host to all of the major gold occurrences in the region, a further 5 kilometres along trend, doubling Temex's control to approximately 10 kilometres. The TSZ is a major structural feature similar in many geological respects to the Cadillac-Larder Lake and Destor-Porcupine major faults zones host to the world class Kirkland Lake and Timmins gold camps in the region.

Major gold zones acquired from Goldeye along the TSZ include the Big Dome from which Goldeye has reported drill intersections including 217.50 g/t gold over 2.10 metres, 13.10 g/t gold over 3.00 metres and 80.70 g/t gold over 2.10 metres and the Hydro Creek zone which includes drill intersections of 5.89 g/t gold over 12.50 metres, 3.58 g/t gold over 20.20 metres and 4.28 g/t gold over 14.00 metres.

The Big Dome and Hydro Creek gold zones are located 4 and 5 kilometres directly on strike along the TSZ west of the Juby Main Zone NI 43-101 gold resources which are 935,000 ounces of gold grading 1.30 g/t in the Indicated category and 906,000 ounces of gold grading 1.00 g/t in the Inferred category (news release January 16, 2012) utilizing a 0.40 g/t cut-off grade.

The Acquisition also delivers significant "blue sky" exploration potential for the discovery of both high grade and bulk tonnage gold resources in numerous areas including an untested 3 kilometre stretch along the "TSZ" between Golden Lake and the Big Dome gold systems, as well as the large area south of the TSZ where numerous drill targets have been identified.

As consideration for Temex's acquisition of the acquired interests, Temex has paid Goldeye $500,000 and issued to Goldeye 5 million common shares of Temex (each, a "Common Share"). The Common Shares issued by Temex are subject to a hold period expiring on March 23, 2013. In addition, Goldeye has agreed to vote its Common Shares of Temex in support of management and its recommendations and to certain restrictions on the disposition or transfer of such shares, in either case for a period of two years from the closing date. Goldeye has also granted to Temex the right to acquire any landholdings currently held by Goldeye in Tyrrell Township which Goldeye hereafter may propose to sell or otherwise dispose of.  Certain of the claims are subject to underlying NSR Royalties ranging from 2 to 2.5%, all of which include buy-down provisions ranging from 1.0 to 1.5% NSR Royalty.

On behalf of the Board of Directors

"Ian Campbell"

President and CEO

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.  Temex is exploring the Timmins Whitney Property, in partnership with Goldcorp, and the Juby Gold Project.

The Whitney Property has NI 43-101 compliant resources on the Upper Hallnor of 3.0 million tonnes at a grade of 2.44 g/t gold for 234,300 ounces of gold in the Measured category, 8.8 million tonnes at a grade of 1.97 g/t gold for 555,900 ounces of gold in the Indicated category, and 4.1 million tonnes at a grade of 1.82 g/t gold for 241,000 ounces of gold in the Inferred category, all at a cut-off grade of 0.30 g/t gold (Note 1).

The Juby Main Zone 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 (Note 2).

The Gowganda Silver Project has a NI 43-101 compliant resource in tailings piles 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 (Note 3).

Notes:

  1. Information regarding the mineral resource estimate on the Upper Hallnor is in the Company's news release dated September 5, 2012 and the technical report filed on SEDAR October 19, 2012.  The Mineral Resource Statement was prepared for Temex by P&E Mining Consultants Inc. of Brampton, Ontario in accordance wi th NI 43-101 by Richard Sutcliffe, PhD, P.Geo., Eugene Puritch, P.Eng., David Burga, P.Geo., Yungang Wu, P.Geo., Tracy Armstrong, P.Geo., and Antoine Yassa, P.Geo., "independent qualified persons" as defined by NI 43-101.

  2. Information regarding the mineral resource estimate on the Juby Main Zone is in the Company's news release dated January 16, 2012 and the technical report filed on SEDAR February 28, 2012.  The Mineral Resource Statement was prepared for Temex by GeoVector Management Inc., Ottawa, Ontario in accordance with NI 43-101 by Joe Campbell, BSc, P.Geo., Alan Sexton, MSc, P.Geol., and Allan Armitage, PhD, P.Geol., "independent qualified persons" as defined by NI 43-101.

  3. Information regarding the mineral resource estimate in the tailings piles located on the Gowganda Silver Project is in the Company's news release dated June 8, 2011 and the technical report filed on SEDAR July 21, 2011.  The Mineral Resource Statement was prepared for Temex by GeoVector Management Inc., Ottawa, Ontario in accordance with NI 43-101 by Allan Armitage, PhD, P.Geol., Alan Sexton, MSc, P.Geo., and Joe Campbell, BSc, P.Geo., "independent qualified persons" as defined by NI 43-101.

Forward Looking Statements:
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, mineral resource estimates, the Company's exploration plans for its properties and the potential for discovery of both high grade and bulk tonnage gold resources as a result of the Acquisition. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, general business and economic uncertainties, future mineral prices, uncertainties in mineral resource estimates and adverse market conditions, as well as those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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.

SOURCE: Temex Resources Corp.

For further information:

For more information please visit www.temexcorp.com or
email: info@temexcorp.com or phone: 416-862-2246   toll free: 866-373-6287

Temex Resources Corp

EXPLORATION STAGE
CODE : TME.V
ISIN : CA87971U1057
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Temex Resources is a gold and copper exploration company based in Canada.

Temex Resources holds various exploration projects in Canada.

Its main exploration properties are HALLNOR (PAMOUR), LATCHFORD, URANIUM, WILSON LAKE, HUSTON LAKE / MARIJANE LAKE, WEBEQUIE, GOWGANDA, TIMMINS - WHITNEY TOWNSHIP, MC FAULD'S LAKE and JUBY in Canada.

Temex Resources is listed in Canada and in Germany. Its market capitalisation is CA$ 22.4 millions as of today (US$ 16.9 millions, € 15.1 millions).

Its stock quote reached its highest recent level on December 31, 2003 at CA$ 1.10, and its lowest recent point on May 08, 2015 at CA$ 0.04.

Temex Resources has 186 590 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Temex Resources Corp
2008 Annual Report
Financings of Temex Resources Corp
10/14/2011Raises $2.66 Million Pursuant to Non-Brokered Private Placem...
Nominations of Temex Resources Corp
1/24/2014Appoints Derrick Weyrauch as Chief Financial Officer
3/14/2013Appoints René Marion, P.Eng., to Board of Directors
Project news of Temex Resources Corp
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
4/29/2013(Juby)Red Cloud Mining Capital Congratulates Temex Resources Corp....
1/15/2013(Juby)Intersects 2.13 g/t gold over 47.69 metres and Discovers Add...
9/5/2012Red Cloud Mining Capital Congratulates Temex Resources Corp.
4/29/2011(Gowganda)LAUNCHES SILVER EXPLORATION PROGRAM - NEW DRILL TARGETS DEFI...
4/12/2011(Juby)DISCOVERS NEW GOLD ZONE, JUBY GOLD PROJECT
2/3/2011(Juby)INTERSECTS 47.0 METRES GRADING 1.36 G/T GOLD; JUBY GOLD DEPO...
2/27/2009(Hallnor (pamour))Reports High Grade Gold Results Hallnor Property, Timmins Go...
9/19/2007and MacDONALD MINES AGRESSIVELY ACQUIRE SIGNIFICANT LAND POS...
9/11/2007(Juby)Announces Commencement of Diamond Drilling on Juby North Gol...
5/8/2007(Timmins - Whitney Township)Initiates 2007 Program On Whitney Gold Property 5000 Metre D...
Corporate news of Temex Resources Corp
9/14/2015Temex Announces Results of Annual and Special Meeting and th...
9/2/2015Temex Resources Corp. Announces Leading Independent Advisory...
8/18/2015Temex Files Management Information Circular related to its A...
8/10/2015Temex Announces New Date for Annual and Special Shareholder ...
7/31/2015Temex Terminates Arrangement Agreement with Oban Mining Corp...
7/31/2015IIROC Trading Resumption - TME
7/31/2015IIROC Trading Halt - TME
7/16/2015Temex Board Receives Superior Proposal From Lake Shore Gold ...
7/16/2015IIROC Trading Resumption - TME
7/16/2015IIROC Trading Halt - TME
2/26/2015Temex Achieves up to 98% Gold Recovery in Metallurgical Test...
2/24/2015Temex Achieves up to 98% Gold Recovery in Metallurgical Test...
12/18/2014Temex Announces Resignation of Director
12/18/2014Temex Announces Resignation of Director
12/8/2014Temex Purchases Strategic Property, Juby Gold Project, Ontar...
12/8/2014Temex Purchases Strategic Property, Juby Gold Project, Ontar...
7/15/2014Temex Strengthens Management and Board of Directors
7/8/2014Temex Reports on Drill Results on Whitney Gold Project, Timm...
6/24/2014Temex Reports on Results of Annual and Special Meeting of Sh...
6/17/2014Temex Reports Exceptional Near Surface Drill Results on Whit...
5/29/2014Temex Announces Exceptional Near Surface Drill Results on Wh...
4/8/2014Temex Commences 2014 Drill Program, Whitney Gold Project, Ti...
3/10/2014Temex Closes $2.77 Million Private Placement
2/26/2014(Juby)Files NI 43-101 Technical Report on Juby Gold Project, Ontar...
3/26/2013(Juby)Extends Mineralization at the Juby Gold Project in Northeast...
2/12/2013Intersects 60.40 g/t Gold over 0.50 Metres Near Surface at W...
10/23/2012Files NI 43-101 Technical Report for the Upper Hallnor Depos...
6/27/2011(Latchford)SET TO DRILL LATCHFORD HIGH GRADE GOLD PROJECT
6/8/2011(Gowganda)ANNOUNCES NI 43-101 RESOURCE ESTIMATE GOWGANDA SILVER PR...
5/12/2010Provides update on precious metals portfolio
11/4/2008and Nuinsco Commence Exploration on Uranium Project
2/19/2008 Sets Terms for East West Earn In on Claims Near Noront Ni-C...
9/26/2007announces Uranium Star to spend $1 million on Merico Ethel a...
7/17/2007Acquires Uranium Exploration Properties in Northwestern Onta...
6/19/2007Acquires Additional Nickel Exploration Property Adjacent To ...
6/12/2007Acquires Nickel Exploration Property Adjacent To Gold Chalic...
5/24/2007Bruce Durham Joins Temex as Executive Chaiman
2/21/2007Silver Tailings Project Update Gowganda Silver Project
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (TME.V)BERLIN (TQ1.BE)
0.120+0.00%0.0000
TSX-V
CA$ 0.120
09/21 15:59 -
0%
Prev close Open
0.120 0.120
Low High
0.120 0.120
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.120 -%
Volume 1 month var.
59,222 -%
24hGold TrendPower© : 44
Produces
Develops
Explores for Copper - Diamonds - Gold - Nickel - Palladium - Platinum - Silver - Uranium
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/5/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.06+0.57%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 8.98-1.97%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59-3.26%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.05-0.49%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 12.71+1.19%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.34+4.69%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 1.80-0.55%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.35-0.27%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.