Wednesday 23rd October 2019

Resource Clips

From Flin Flon to Timmins

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Located in northeastern Ontario’s Timmins-Kirkland Lake camp, the project saw a 140% jump for indicated ounces and an 11% increase for inferred. Using a 0.4 g/t cutoff, the deposit’s four zones total:

  • an indicated category of 25,300 tonnes averaging 1.28 g/t for 1.04 million gold ounces
  • an inferred category of 74,200 tonnes averaging 0.91 g/t for 2.17 million ounces.
Great Northern and Temex report gold news from Manitoba and Ontario

Temex Resources extended a deposit from its 100%-owned
Juby property, pictured here, onto the company’s adjacent
Golden Lake option.

Grades were capped at 30 g/t. The resource hasn’t been pit-constrained but it remains open at depth and along strike, Temex stated.

The deposit extends from the company’s 100%-held Juby property into the Golden Lake property, on which Temex may earn 100%. Golden Lake drilling added more than a kilometre of strike to the deposit. The Juby project includes both properties and totals 5,837 hectares.

The company also announced new assays from the resource’s western extension. Some highlights show:

  • 0.72 g/t gold over 58.2 metres, starting at a down-hole depth of 198.7 metres
  • (including 1.68 g/t over 5.55 metres)
  • 1.52 g/t over 45.15 metres, starting at 73.85 metres
  • (including 2.3 g/t over 22.25 metres)
  • 1.11 g/t over 16.71 metres, starting at 252.59 metres
  • (including 2.47 g/t over 2.12 metres)
  • 0.78 g/t over 20.64 metres, starting at 116 metres.

True widths were estimated between 65% and 75%. The assays show mineralization is “continuous and consistent with previously reported results and remains open to the northwest,” Temex stated.

The company’s other focal point is the Whitney project in Timmins, which features a September 2012 resource using a 0.3 g/t cutoff:

  • a measured category of 2.9 million tonnes averaging 2.44 g/t for 232,100 gold ounces
  • an indicated category of 8.66 million tonnes averaging 1.95 g/t for 544,000 ounces
  • an inferred category of 4.02 million tonnes averaging 1.79 g/t for 231,900 ounces.

Temex holds a 60% interest in the joint venture and acts as project operator, with Goldcorp TSX:G holding the remaining 40%.

Temex opened April 29 at its previous close of $0.17, then reached a high of $0.20 before sliding to $0.18. The 52-week high and low were $0.36 and $0.095. The company’s 160.41 million shares equalled a $28.87-million market cap.

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