Temex intersects 8.70m of 5.61 g/t gold at Whitney JV property with Goldcorp in Timmins

Temex Resources (TSX-V: TME, FWB: TQ1) on Wednesday reported results from the first five holes drilled at the Whitney Property joint venture located in the heart of the Timmins Gold Camp, intersecting 8.70 Metres Of 5.61 g/t gold.

The Whitney property has historic gold production from the Broulan Reef, Bonetal and Hallnor mines, the latter of which is the highest grade mine in the 70 million ounce Porcupine Gold Camp.

In June this year, Temex acquired from Goldcorp (TSX, NYSE: G) a 60% interest in the mining rights of the upper portion (from surface to a depth of 1000 ft) of the Hallnor mine. This acquisition, together with Temex's existing 60% ownership of the lower portion of the property (below 1000 ft), consolidates the company's position in the area. It is currently the operator of the project.

The five holes form part of Temex's ongoing 40-hole 10,000 metre diamond drill program on the property. Four holes, TW10-81 to TW10-84, were drilled to test the main vein system and hanging wall structures where limited drilling had been done within the former Bonetal mine.

According to Temex, all holes intersected significant gold mineralization highlighted by holes TW10-81, which yielded two gold bearing intervals 5.61 g/t gold over 8.70 metres, including 9.25 g/t over 2.40 metres, and 5.37 g/t gold over 1.90 metres and hole TW10-82, which yielded 4.54 g/t gold over 5.20 metres, 7.07 g/t gold over 0.70 metres, 8.71 g/t gold over 2.00 metres and 17.2 g/t over 0.60 metres.

Hole TW10-80, which targeted extensions of the main vein structure west of the former workings where a previous hole had returned 16.32 g/t over 2.50 metres, yielded 6.05 g/t gold over 2.00 metres and remains open for expansion to the west, Temex said.

Based on the positive results, additional drilling is being planned for the Bonetal Mine area to further extend the mineralized zones intersected to date, with the intent to establish a resource in the underexplored area, according to Temex CEO Ian Campbell.

Ongoing drilling will also continue to test specific priority targets where previous drilling encountered significant gold values, including the Bonetal footwall area, the 1-55 North and South veins, the Hallnor 6 vein area, Hallnor South veins and the recently discovered Q Zone.

Historic gold production from the Hallnor Mine amounted to more than 1.7 million ounces of gold at an average grade of 13.71 g/t gold, while the Broulan Reef produced 490,000 ounces of gold at an average grade of 7.88 g/t gold. The property is located central to a 10 million ounce gold mine trend and is surrounded by Goldcorp to the east, Lake Shore Gold to the north, and a joint venture between San Gold, Lexam Explorations, and VG Gold to the west.

Temex's properties are located in the Abitibi greenstone belt in proximity to the Porcupine - Destor and Cadillac - Larder Lake fault zones, from which over 150 million ounces of gold has been mined to date.