Temex Resources has released an updated mineral estimate for its northeastern Ontario gold project that the company reports is 50 per cent larger than an earlier estimate.
In a Feb. 28 release, the junior miner said its Juby gold project in the Shining Tree area contains an indicated resource of 934,645 ounces, grading 1.30 grams per tonne (g/t) and an inferred resource of 905,621 ounces, grading 1.00 g/t.
The company said the deposit remains open at depth and along strike.
Temex president Ian Campbell is pleased with the increase in gold resources and adds there is potential to increase the size of the deposit with the acquisition of an adjacent property, Golden Lake, in January.
“We intend to conduct an aggressive drill program on both Golden Lake and Juby to expand our gold resources,” while conducting metallurgical and environmental work towards formulating a preliminary economic assessment.
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