Gowganda Silver Project
| Target | Silver: resource in tailings; high grade veins in bedrock |
| 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. |
| Location | Gowganda, Ontario |
| Ownership and Size | Gowganda Silver Property: 100% Temex 533 acres |
GOWGANDA SILVER PROPERTY
In April 2006 Temex purchased a 100% interest with no retained royalty in the Gowganda Silver Property. The property is located three kilometres northeast of the historic silver mining town of Gowganda with excellent access and infrastructure. The property contains the past producing Miller Lake O'Brien Mine (1910-1972) with historical production of 40.7 million ounces of silver at a reported average grade of 22 opt silver.
Tailings
The historic mining activity on the Miller Lake O'Brien Mine generated tailings piles which are located on the property. On June 08, 2011 Temex announced a NI 43-101 compliant resource estimate on silver contained in the tailings piles. The resource estimate, summarized below, is based on 764 auger, drive pipe and sonic drill holes (3,012 metres) and 2,039 assay values from drilling conducted by the previous operator in 1981, 1987 and 2000. Temex is conducting a rotasonic drilling program on the tailings to obtain large samples for analyses in order to provide greater confidence of the grade and recoverability of silver from the tailings.
Indicated Resource
| Cut-off Grade (g/t) |
Tonnage (Mt) |
Silver Grade (g/t) |
Total Ounces of Silver |
|---|---|---|---|
| 10 | 1,937,520 | 47.5 | 2,959,487 |
| 20 | 1,903,081 | 48.1 | 2,941,810 |
| 30 | 1,743,690 | 50.1 | 2,806,483 |
Note: Information regarding the mineral resource estimate in the tailings piles located on the Gowganda Silver Project can be found in the Company's news release dated June 8, 2011 and the technical report filed on SEDAR July 21, 2011. The Mineral Resource Statement was prepared for Temex by GeoVector Management Inc., Ottawa, Ontario according to the "CIM Standards on Mineral Resources and Reserves: Definition and Guidelines" (December, 2005), by Allan Armitage, Ph.D., P. Geol., Alan Sexton, M.Sc., P.Geo. and Joe Campbell, B.Sc., P.Geo., "independent qualified persons" as defined by NI 43-101.
Exploration
Temex conducted two diamond drill campaigns in 2006 and 2011 which confirmed the presence of high grade silver veins in bedrock near surface. High grade intersections include: 4,560 g/t silver over 0.75 metres including 8,314 g/t silver over 0.40 metres; 6,066 g/t silver over 0.70 metres including 12,541 g/t silver over 0.30 metres; 5,510 g/t silver over 0.73 metres including 10,267 g/t silver over 0.30 metres; 4,658 g/t silver over 0.40 metres.