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OVERVIEW
Location:
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Gowganda, northeastern Ontario, Canada.
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Ownership: |
100% Temex with no underlying royalties. |
Size: |
14 claims for 553 acres. |
High Notes: |
Property hosts the Miller Lake O’Brien silver mine operated by United Siscoe Mines which produced 40.7 million ounces of silver at a reported average grade of 22 opt silver from 1910 to 1972. |
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High grade 600 metre long silver vein system discovered from 1987 to 1989 during underground exploration and development with drill intercepts ranging from 3.99 opt silver over one foot up to 348.5 opt silver over 3.5 feet, including 1,039.10 opt silver over one foot. |
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A resource estimate for the tailings piles at a silver cut-off grade of 10.0 g/t silver is ~1,940,000 tonnes grading 47.5 g/t silver for ~2,960,000 contained ounces of silver in the Indicated category (NI 43-101 resource June 8, 2011). |
Mineralization Setting: |
High grade silver veins located near major unconformity - the identical geological setting as the Cobalt mining camp which produced 550 million ounces of silver and 30 million pounds of cobalt. |
Exploration Plan: |
Digital compilation of all historical data to produce GIS database and three dimensional modelling, implementation of field program including, geological mapping and environmental baseline studies, metallurgical testwork on tailings, geological mapping, diamond drilling, permitting, environmental baseline study, surface water testing, and waste characterization. |
CURRENT ACTIVITY
| August 03, 2011 |
Temex Intersects Multiple Zones Of High Grade Silver |
| July 25, 2011 |
Temex Files Technical Report For Gowganda Silver Resource In Tailings |
| June 08, 2011 |
Temex Announces NI 43-101 Resource Estimate Gowganda Silver Project, Gowganda Ontario |
| April 28, 2011 |
Temex Launches Silver Exploration Program - New Drill Targets Defined |
| July 13, 2010 |
Temex Provides Update on Precious Metals Portfolio |
| February 21, 2007 |
Temex:Silver Tailings Project Update Gowganda Silver Project |
| February 01, 2007 |
Temex: Drilling Intersects High Grade Silver Gowganda Silver Project |
BACKGROUND
Background information on this Project
BACKGROUND
In April 2006, Temex completed the acquisition of the Miller Lake O'Brien Silver Property and related assets and facilities from Sandy K. Mines Limited ("SKM"), a private Ontario corporation. The Property, located three kilometres northeast of Gowganda, Ontario contains the Miller Lake O'Brien Silver Mine, the largest past producing Cobalt-style silver mine outside of Cobalt, Ontario. It was operated by Miller Lake O'Brien Mines (1910 to 1944) and later by Siscoe Metals (1945 to 1972), with combined historical production of 40.7 million ounces of silver at a reported average grade of 22 opt silver (Derry Michener Booth and Wahl, 1990). The Property comprises a block of 14 claims covering 553 acres with excellent infrastructure and access to power.
The immediate area of the Property is underlain by Huronian Coleman Member sediments of the Gowganda Formation, Nipissing Diabase and Archean mafic volcanic rocks. Silver-bearing veins, generally ranging from one to fifteen centimetres wide, are associated with thick cone sheets of Nipissing Diabase, which were remobilized resulting in the formation of fractures and zones of fissures thereby providing openings for deposition of metals from mineralizing fluids. Silver occurs as native metal in the form of leaf and rosettes in a carbonate gangue.
SKM carried out an extensive underground exploration program from 1987 to 1989 which included 525 metres of lateral development and 8,511 metres of drilling. Eight new silver bearing veins were identified within a target zone of over 600 metres, with drill intercepts ranging from 3.99 opt silver over one foot up to 348.5 opt silver over 3.5 feet, including 1,039.10 opt silver over one foot (see highlights in the following table). Consulting firm Watts Griffis and McOuat ("WGM") established a preliminary mineral inventory of one million ounces silver at an average grade of 29.98 opt silver on some of the new veins intersected in drilling by SKM (WGM, 1994).
The Property has significant tailings deposits. Independent studies by several industry experts (including WGM and Kilborn Engineering) on the silver content of the tailings established a resource of 1.827 million short tons grading 1.43 opt silver (1.66 million tonnes grading 49 g/t silver). This was estimated on the basis of 545 auger holes and an additional 152 sonic drill holes between 1980 and 1987. Gravity and metallurgical testwork was carried out on the tailings by Lakefield Research Limited (1999) and by Process Research Associates Ltd. (2000).
Estimates reported are historical and are not in compliance with National Instrument 43-101 "Standards of Disclosure for Mineral Deposits". In addition, the Company has not done the work necessary to verify the classification of the resource and is not treating the estimates as National Instrument 43-101 defined resources verified by a Qualified Person. The historical estimates should not be relied upon.
Table of Selected Drill Hole Results from the SKM Program 1987 to 1989:
Drill Hole |
From |
To |
Width |
Silver |
Silver |
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(ft) |
(ft) |
(ft) |
(opt) |
(g/t) |
SDK-88-02 |
377.0 |
378.0 |
1.0 |
3.99 |
124 |
SDK-88-05 |
78.0 |
79.1 |
1.1 |
3.52 |
109 |
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331.0 |
332.5 |
1.5 |
12.53 |
390 |
Including |
331.0 |
331.5 |
0.5 |
35.40 |
1,101 |
SDK-88-06 |
327.0 |
328.5 |
1.5 |
11.08 |
345 |
Including |
328.0 |
328.5 |
0.5 |
25.25 |
785 |
SDK-88-09 |
155.7 |
157.7 |
2.0 |
5.16 |
160 |
Including |
156.7 |
157.7 |
1.0 |
8.93 |
278 |
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236.1 |
237.1 |
1.0 |
20.40 |
634 |
SDK-88-10 |
326.0 |
329.5 |
3.5 |
348.50 |
10,838 |
Including |
327.5 |
328.5 |
1.0 |
1039.10 |
32,316 |
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344.5 |
345.5 |
1.0 |
5.62 |
175 |
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408.0 |
410.0 |
2.0 |
154.80 |
4,814 |
Including |
408.0 |
409.0 |
1.0 |
305.80 |
9,510 |
SDK-88-13 |
238.5 |
239.5 |
1.0 |
29.28 |
911 |
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270.0 |
271.0 |
1.0 |
6.50 |
202 |
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375.8 |
376.8 |
1.0 |
291.40 |
9,063 |
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Note: Conversion factor of 31.10 was used to convert opt to g/t |
Gowganda Silver Project
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