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Tempus Resources discovers new gold anomaly, drilling planned

Last updated: 16:40 08 Jan 2020 AEDT, First published: 11:28 08 Jan 2020 AEDT

Tempus Resources Ltd - Tempus Resources discovers new gold anomaly, drilling planned
Soil samples recorded grades of up to 0.92 g/t gold, which is high for samples of this nature

Tempus Resources Ltd (ASX:TMR) has discovered a new prospect through an extensive soil sampling program at its Blackdome-Elizabeth Gold Project in Canada.

The objective was to geochemically survey prospective terrain in the vicinity of the Blackdome and Elizabeth mines to identify nearby targets.

The 1,740 soil samples collected identified statistically significant gold anomalies combined with strong correlations with known pathfinder elements.

A 400x150-metre gold-silver-bismuth-lead anomaly was identified 2.5 kilometres from the Elizabeth gold deposit, which will be further evaluated in the 2020 drilling and trenching program.

Shares have been up as much as 16% to an intra-day high of 29 cents, a new 12-month high.

Plan to grow resource base in 2020

Tempus’s managing director Brendan Borg said: “We are very encouraged by the number and tenor of new soil anomalies generated outside of the known mineralisation at Blackdome-Elizabeth.

“We have established promising targets to extend existing resources with upcoming drilling and potential for a completely new discovery near Elizabeth.”

Notably, during December 2019 Borg purchased 100,000 company shares through on-market trades.

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

Borg has history with company projects

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.

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