Temex Resources Corporation a Junior Mining Company Bucks the Slow Down in Gold Mining Exploration

The current down trend in mining activities has slowed down and even stopped exploration activities for most junior mining companies except one dazzling exception --- Temex Resources Corporation (Temex) which continues to its work of verifying and confirming the staggering quantities of gold that exists in several old mining sites in Timmins - consolidated as the Whitney Project; and a new never mined area between Matachewan and Gogama known as the Juby Project.

Yesterday Ian Campbell, the President and CEO of Temex along with Kim Tyler, the project manager for the Whitney Project told their remarkable story to those attending the Timmins Chamber of Commerce luncheon at the Dante Club.

“The best place to find more gold is in the shadow of the mine head frame of an old mine,” Ian Campbell said.

Temex’s strategy is to acquire  low risk gold projects in the world class Timmins mining camp  in northeastern Ontario, Canada. Their mission is to rapidly advance these gold projects by executing the necessary work to efficiently develop these projects towards advanced exploration and pre-development stages. Two key gold projects, Whitney in the center of Timmins, Canada's largest gold camp; and Juby located 100 kilometres to the south, both with completed NI 43-101 reports,  have considerable upsides, with a solid base for future gold mining development.

The basic facts about Temex’s exploration work at the Whitney Project site and the Juby site are as follows. The Whitney site which includes the historic mining sites of Hallnor, Bonetal, Hugh-Pam, Banner and Broulan, has the highest grade of gold ever detected in the Timmins mining camp according to Temex’s drill test results. Temex has reported a million oz. of probable and inferred gold resources despite the fact that the hire has been mined for over 100 years. The Whitney Project is 60 percent owned by Temex and 40 percent by Goldcorp. Indications are that there may be way more gold that the million oz. that has been so far confirmed.

The Juby Project is 100 percent owned by Temex which has held talks with senior mining company IAMGOLD whose Coté Lake gold project is nearby. Results from drilling at the Juby site indicate a potential 3.2 million oz. of gold and possibly up to 5 to 10 million oz. The land being explored at the Juby site quite remarkably given the 100 year gold rush in the Timmins camp has never been mined before. The closest mine historical mine is the old Gowganda Silver mine which Temex has purchased. Juby is located between the AuRico Gold Mine (the former Young-Davidson mine) and IAMGOLD’s Coté Lake.

The Whitney Project which is dominated by the historic Hallnor site which operated between 1936 and 1973 and produced 1.7 million ounces of gold over the 37 years of mining according to Campbell. Hallnor has one of the deepest mining shafts in the world because the owners kept digging deeper and deeper for gold.

Campbell explained why there is still so much gold left in the ground despite the 100 years of mining.  “With the several smaller mines operating companies could only drill vertically within the limits of their property,” explained Campbell. “In those days they could not explore horizontally for fear of intruding into their neighbours property.”

By consolidating the several historic sites into the Whitney Project, Temex was in a position to conduct research and drilling in areas that the previous companies could not access.