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Tempus Resources to fly survey next month over highly prospective Ecuador gold projects before drilling

During the September quarter, Tempus entered into an agreement to acquire Sona Resources Corp, which holds the Blackdome-Elizabeth Gold Project in British Columbia, Canada.

Tempus Resources Ltd - Tempus Resources appoints legal firm Gowling WLF to assist with Sona Resources Corp due diligence
The Blackdome-Elizabeth Gold Project includes a permitted mill

Tempus Resources Ltd's (ASX:TMR) will undertake a helicopter-borne geophysical survey over both the Rio Zarza and Valle del Tigre II projects in Ecuador during December ahead of drilling, which is scheduled for the first quarter of 2020.

During the September quarter, the company has primarily focused on advancing its recently acquired Zamora gold-copper exploration project in southern Ecuador.

The company has also been focused on completing the acquisition of the advanced stage high-grade Blackdome-Elizabeth Gold Project in British Columbia, Canada.

Zamora exploration

Exploration activity began on the Zamora project, adjacent to and within the same district as the world-class Fruta del Norte Gold Project, which is nearing construction completion by Lundin Gold Inc (TSX:LUG).

The exploration program consisted of a mobile metal ion (MMI) soil geochemistry sampling grid across the entire Rio Zarza concessions. 

A total of 1,168 soil samples were collected, with an addition of 84 check samples for quality assurance and quality control purposes.

The samples will be analysed using the MMI analysis technology developed by SGS in their Lakefield laboratory in Ontario, Canada. 

Tempus, in coordination with Lundin Mining, also sampled and mapped rock and saprolitic exposures along new mining roads.

Due to deep tropical weathering and land movements, minimal exposures were identified, however, 38 channel and grab samples were collected. 

Channel and grab samples have been shipped to the prep-lab in Quito, Ecuador, and, following preparation, will be sent to Lima Peru for final analysis.
MMI is capable of measuring metal ions at very low detection levels and this technique is particularly useful for detecting deep buried deposits.

Survey next month

Geotech Ltd has been retained to fly a helicopter-borne geophysical survey over both Rio Zarza and Valle del Tigre II.

This will be flown at 200-metre line spacing for a total of around 600 line kilometres and will include ZTEMTM (Z-Axis Tipper Electromagnetic) system, magnetics and radiometrics.

The ZTEMTM system provides superior exploration depth and high resolution, and excellent resistivity discrimination. 

This survey will provide a valuable data set to assist in mapping geological units and to gain a greater understanding of the structural framework of the area. 

Canadian site visit

Tempus' managing director and exploration manager recently completed a detailed site visit and series of meetings in Canada as part of due diligence assessment on the newly acquired Blackdome-Elizabeth Gold Project in British Columbia Canada. 

The Blackdome-Elizabeth project includes a 300 tonnes per day permitted mill and tailings facility, with a combined C$80 million replacement estimate.

Discussions included the project vendors and staff, government officials, technical and legal consultants, as well as with other mining companies operating the area.

Soil sampling program

Tempus, in conjunction with the vendor, has recently begun a soil sampling program across the Blackdome and Elizabeth project areas, targeting:

  • Extensions to known mineralised veins;
  • Structural targets prospective for the discovery of additional gold mineralised veins; and
  • Resampling of historical gold soil anomalies that were not drill tested.

Initial results from this program are anticipated in November 2019.

Approval for a multi-year program at Blackdome, including drilling of known mineralised veins, not yet in the existing historical Mineral Resource, is pending with the British Columbia Ministry of Energy, Mines and Petroleum Resources.

Elizabeth project

At Elizabeth, a drilling program is being designed to extend and infill the current historical mineral resources, to conduct additional drilling on known mineralised veins not yet part of the historical resource as well as to explore for new mineralised gold veins.

The tenure hosting the historical mineral resource at Elizabeth requires a bankable feasibility study to be completed before the end of 2020 to enable the transfer of the licences to the company.

Tempus has substantially advanced negotiations with the original holder of these licences to provide flexibility in the project development schedule, by seeking to have this requirement removed from the conditions of the option agreements.

During the September quarter, the company also completed a drilling program at the Montejinni Copper Project in Australia's Northern Territory, with results

Quick facts: Tempus Resources Ltd

Price: 0.375 AUD

Market: ASX
Market Cap: $23.62 m

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