Temex Announces Substantial Increase in the Gold Resource Estimate for Juby Main Zone
Temex Resources Corp. (TME.V) has hit a day high 24.5 cents as it announced the updated National Instrument 43-101 resource estimate on the Juby Main Zone located in the Shining Tree area of Eastern Ontario.
The updated mineral estimate, which now includes diamond drill results from the Company's 2010 and 2011 exploration campaigns, is 50% larger than the Company's previous resource estimate published in June 2010.
Indicated resource is 934,645 ounces gold grading 1.30 g/t at 0.40 g/t cut-off
Inferred resource is 905,621 ounces gold grading 1.00 g/t at 0.40 g/t cut-off
Known strike length of 2.8 kilometres; deposit remains open for expansion at depth and along strike
"This important increase in resources demonstrates the significant potential to increase the size of the deposit," said Ian Campbell, President and CEO. "Significant upside exists to add to our resource base on the gold zones identified to date plus several nearby high priority gold exploration targets. It is our intention to continue expanding the deposit by diamond drilling and immediately embark on preliminary metallurgical work and environmental baseline studies, the results of which will be incorporated into a preliminary economic assessment. The Juby Project is one of our core assets - it is easily accessible by road and is situated in the center of a world class mining area."
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