TSX Venture Exchange: TME, Frankfurt Exchange: TQ1
TORONTO, June 12 /CNW/ - Temex Resources Corp. (TSX Venture Exchange: TME, Frankfurt: TQ1) ("Temex" or "the Company") announces the acquisition of a nickel exploration property adjacent to the Golden Chalice nickel discovery property near Timmins, Ontario.
Based on the grade and width of the nickel mineralization announced by Golden Chalice Resources Inc. ("Chalice") in late May, Temex initiated a property acquisition program commencing on the day of the announcement. On May 6, 2007, Chalice reported that drill hole GCL07-06 intersected 1.14% nickel over 72.50 metres, including two separate mineralized intervals of 2.23% nickel over 17.50 metres of drill core, and 1.74% nickel over 13.10 metres of drill core with higher values of up to 5.7% nickel occurring with sulphide concentrations.
Since the announcement, Temex has staked 161 units covering 6,440 acres in two claim groups adjacent to, or in proximity to the Chalice nickel discovery. One of the claim groups of 29 units covering 1,160 acres is adjacent to the southwest of the Chalice discovery and the other is located further to the southwest and east-northeast of the historic Texmont nickel mine. Both property positions were designed to cover the known or interpreted location of under-explored ultramafic rocks similar to those that host the new Chalice discovery and also the nickel mineralization at Redstone Mine, the McWatters Deposit, the Langmuir mine and the Texmont Mine.
Personnel of the Company have a proven history of having completed exploration programs in the area dating back more than 30 years. The intimate knowledge of the area is being utilized to assemble a significant land package covering areas of under-explored favourable geology similar to the host lithologies at the various nickel deposits. The Company intends to initiate exploration on the claims once the property position is finalized.
For further information please contact Ian Campbell or Bruce Durham at 416-862-2246. Graphics highlighting the new acquisitions will be posted to the Company website at www.temexcorp.com. Temex is a well-funded Canadian exploration company focused on advancing its precious metal, diamond and nickel projects in Ontario.
On behalf of the Board of Directors,
"Ian Campbell"
Ian Campbell
President and CEO
*The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release*
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For further information: please contact Ian Campbell or Bruce Durham at (416) 862-2246
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