|Target||Gold: Blue-sky exploration potential in Proterozoic aged rocks.|
|Setting||High grade gold vein deposits of Proterozoic age, similar to high grade silver veins in Cobalt mining camp.|
|Ownership and Size||Brett - Rib Lake Block: 100% Temex 11,480 acres
Merico Ethel Property: 100% Temex 3,920 acres
Yarrow Property: 100% Temex 1,080 acres
Mattawapika Property: 100% Temex 1,120 acres
The Latchford Gold Project represents a "blue sky" gold project initiated in early 2004 following the discovery by prospecting of bonanza-style gold mineralization which returned 6,222 g/t gold from random grab samples of a calcite vein hosted in a block of detached bedrock. The original discovery location is on the Brett Property, approximately 20 kilometres south of Cobalt, Ontario. It is in a similar geological setting to the Cobalt silver camp, which produced in excess of 500 million ounces of silver from similar carbonate-hosted bonanza silver veins. The target area for mineralization is at or near the unconformity of flat-lying early Proterozoic rocks of the Cobalt Embayment, and underlying Archean volcanic rocks. Analyses determined that the block of rock containing high grade gold was most likely from a local source and the calcite host to the bonanza gold was typical of the calcite veins that host the Cobalt silver veins.
Between 2004 and 2011, Temex completed exploration programs consisting of line cutting, ground and airborne geophysical surveying, soil geochemical surveying, prospecting, geological mapping and diamond drilling. The programs were successful in detecting areas for follow-up and further diamond drill testing, including the discovery of highly anomalous gold mineralization in random grab samples ranging from 0.51 g/t up to 3.83 g/t, 4.53 g/t, 6.24 g/t, 9.14 g/t, 11.64 g/t, 12.91 g/t, 16.08 g/t, 49.75 g/t and 112.29 g/t gold. This particular area of anomalous gold mineralization is directly associated with narrow gossanous fractures with iron oxide and chalcopyrite mineralization up to several centimetres wide that cut Proterozoic sediments interpreted to be near the unconformity with Archean rocks. The most significant assay from follow-up drilling near this area was 85.47 g/t gold over 0.30 metres where specks of visible gold were noted in a calcite vein hosted in conglomerate.