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Tempus Resources' recently appointed managing director buys shares on-market

Tempus is focused on two gold projects, one in Ecuador and one being acquired in Canada.

Tempus Resources Ltd - Tempus Resources recently appointed managing director buys shares on-market
Due diligence recently completed for the Canada project

Tempus Resources Ltd's (ASX:TMR) recently appointed managing director Brendan Borg has purchased 100,000 company shares through on-market trades.

The $18,000 purchase increases his overall holding in the company to two million shares.

Before being appointed managing director, Borg was a technical director and played a key role in both the selection and exploration of the Blackdome-Elizabeth Gold Project in Canada and the Zamora Gold Projects in Ecuador.

He has over 20 years’ experience working in management, operational and project development roles in the resource industry with companies including Rio Tinto Iron Ore, Magnis Resources Limited, IronClad Mining Limited, Lithex Resources Limited and Sibelco Australia Limited.

Due diligence complete for Blackdome-Elizabeth acquisition

Yesterday, Tempus completed the due diligence for its acquisition of the high-grade, past-producing Blackdome-Elizabeth Gold Project in British Columbia, Canada.

Formal settlement of the transaction is expected later this week upon completion of closing deliverables and documentation requirements.

Tempus will immediately initiate an update of the Mineral Resource estimate to incorporate a significant amount of new drilling that was completed in 2010 and 2011, but not yet included in the prior resource estimates.

Following the updated JORC resource, Tempus will then commence a new pre-feasibility study for the project.

Concurrently, planning is continuing for a significant new phase of resource infill, expansion and exploration drilling, expected to commence in the second quarter of 2020.

Quick facts: Tempus Resources Ltd

Price: 0.37 AUD

Market: ASX
Market Cap: $23.3 m

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on 29/2/20

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