Temex Resources (TME.V) has released an updated NI43-101 compliant resource estimate on its Juby Gold Project in Ontario, Canada. The total resource now stands at 4 million ounces of gold, of which roughly 1/4th is part of the indicated category. Using a cutoff grade of 0.4g/t, the average grade in both categories is 1.01g/t, even though the 1.1 million ounces in the indicated category have an average grade of 1.28g/t gold.
There still is considerable exploration potential at the Juby property, as for instance not a single hole has been drilled yet along the 3 kilometer strike length between the Hydro Creek zone and the Juby Main Zone.
Disclosure: The author holds a long position in Temex Resources. Please see our disclaimer for current positions.