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Tempus Resources shares surge after reviewing high-grade historical drill intercepts from Mineral Creek

Given the outcomes of this review, Tempus plans to allocate further resources to advancing the Mineral Creek Property along with its larger, more advanced flagship Blackdome-Elizabeth Gold Project.

Tempus Resources Ltd - Tempus Resources shares surge after reviewing high-grade historical drill intercepts from Mineral Creek
The company’s shares closed 52% higher at 19 cents after hitting 22 cents

Tempus Resources Ltd (ASX:TMR) has confirmed high-grade gold from the review of historical drill hole data from its Mineral Creek Property in British Columbia, Canada.

Results from the most recent diamond drilling programs (2005-2010) include:

  • 7.20 metres at 159.03 g/t gold, from 63.80 metres (BTT-L54) including 4.50 metres at 253.6 g/t gold from 64.30 metres;
  • 1.65 metres at 215.55 g/t gold, from 26.00 metres (BTT-L58);
  • 4.40 metres at 75.25 g/t gold, from 75.05 metres (MC2009-E57);
  • 0.80 metres at 244.00 g/t gold, from 42.10 metres (BTT-1053);
  • 5.30 metres at 34.12 g/t gold, from 71.50 metres (BTT-1058); and
  • 1.10 metres at 152.66 g/t gold, from 21.30 metres.

Mineral Creek Property prospect map

Background

The Mineral Creek Gold Property is on Vancouver Island, British Columbia, about 10 kilometres east of the town of Port Alberni and was acquired by Tempus together with the Blackdome-Elizabeth Gold Project last year.

The property consists of 42 contiguous mineral claims totalling 9,877.29 hectares.

All 42 mineral claims are owned 100% by Tempus subsidiary Sona Resources, and have no underlying royalties.

The property is readily accessible by an extensive network of all-season logging roads.

Mineral Creek has a long history of gold mining, dating back to the late 1800s where placer gold was mined from Mineral Creek and China Creek, and from several adits along the Mineral Creek Fault Zone, where gold was mined from high-grade gold-quartz veins.

Drilling in the 2000s included a total of 216 diamond drill holes for 37,503.6 metres and identified 6 gold zones.

Next steps

The company’s primary focus in British Columbia is its larger, more advanced and also high-grade Blackdome-Elizabeth Gold Project.

However, given the outcomes of this review, Tempus plans to allocate further resources to advancing the Mineral Creek Property.

Compilation of a consolidated database is in progress, which will be used to generate mineralisation models to assist in planning new drilling programs.

Further field assessment and sampling programs at Mineral Creek are being planned as part of the upcoming field season, set to commence in the coming weeks at Blackdome-Elizabeth.

Quick facts: Tempus Resources Ltd

Price: 0.26 AUD

ASX:TMR
Market: ASX
Market Cap: $20.67 m
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Tempus Resources begins drilling at its Blackdome-Elizabeth Gold Project in...

Tempus Resources Ltd's (ASX:TMR) Brendan Borg speaks to Proactive's Andrew Scott after announcing they've started a diamond drilling program at the Blackdome-Elizabeth Gold Project in British Columbia, Canada. The program is underway firstly at Blackdome where it is planned to drill about 2,500...

on 24/7/20

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