Golden opportunities in Timmins – by Benjamin Aubé (Timmins Daily Press – November 8, 2013)

The Daily Press is the city of Timmins broadsheet newspaper.

TIMMINS – A junior mining company based in Timmins is voicing excitement about the potential for two projects that could leave their mark on the city for a long time to come.

Ian Campbell, president and CEO of Temex Resources, said the two biggest things the company has on its side are a pair of properties located in the heart of a region that has seen over a century of continuous mining activity.

“In the junior mining space, everybody knows there’s some issues going on, and that’s hard, but in our view, Temex stands our for a variety of reasons,” Campbell said to a crowd at an Inside Business luncheon hosted by the Timmins Chamber of Commerce. “We stand out because we’re not a junior relying on just one project. We’ve got two projects.

“Our focus is on the Whitney Project, in the East End of Timmins. It’s got all those things you need going for a project these days. It’s got high-grade (gold), it’s got location, it’s got the infrastructure to put something into production. Of course, we’re a small management team, and I’m focused on the efficient allocation of cash.”

The Whitney Project spans over the sites of several former prominent mines, such as the Hallnor, Bonetal, and Broulan Reef. The Hallnor was once the highest-grade gold mine in Timmins.

Campbell said the company is looking to return to site to its former glory. The recent discovery of high-grade gold across an even wider area than expected has left the company excited for the future.

Temex will begin by mining the first three levels of the Upper Hallnor in the near future, prior to moving deeper and wider along the site as exploration continues.

“We’ve had to sort of peel away from the excitement of following up on our new discovery and focus on what it’s going to take to get this thing back in operation again,” explained project manager Kim Tyler. “Again, there are lots of zones to explore upon.”

Campbell said the Whitney site was located in a key area, located along the same veins as Hoyle Pond, Pamour, Bell Creek, Dome and Hollinger. He said the company was focusing on generating cash flow as soon as possible.

“We’ve got the workforce and everything we need to put it into production,” said Campbell. “Temex right now stands at the stage where we’ve got some resources outlined, we’ve got an open pit resource of one million ounces at about two grams. What we’ve done over the last year is look at this from a different kind of scenario, and see what kind of resources we would have at the underground scenario.”

For the rest of this article, click here: http://www.timminspress.com/2013/11/07/golden-opportunities-in-timmins

 

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