Tempus Resources Limited (ASX:TMR) has completed the Blackdome-Elizabeth Gold Project in British Columbia, Canada, with the sale having settled.
An update of prior NI 43-101 mineral resource estimates to current JORC standard has begun with Tempus aiming to deliver this in January 2020.
Planning is also underway for major resource infill, expansion and exploration drilling programs to begin in April 2020 in support of the next phase of feasibility studies.
"Rapidly advancing project”
Managing director Brendan Borg said: “We are very pleased to confirm the settlement of the acquisition of this exciting advanced stage high-grade project.
“We now look forward to rapidly advancing the project through further feasibility studies and targeting significant extensions to the existing resource base.”
The project hosts indicated and inferred mineral resources of 52,600 ounces of gold in the indicated category at 11.3 g/t and 231,900 ounces of gold in the inferred category at 11.7 g/t under Canadian NI 43-101, which is a qualifying foreign resource standard.
These estimates were completed by SRK consulting and Micon International in 2009 and 2010.
The Blackdome-Elizabeth project is largely underexplored and remains highly prospective for extending defined mineralisation as well as for discovering new mineralised areas.
The Blackdome mine site includes a 300,000 tonnes per day mill and tailings facility as well as existing development plans, including construction of a 4-kilometre haul road and an upgrade of 35 kilometres of the existing road to link the Elizabeth deposit to the mine.