Tempus Resource Ltd (ASX:TMR) (TSX-V:TMRR) has a strong pipeline of news expected in 2021 which include awaiting Blackdome-Elizabeth Gold Project drilling assays and completing a 6,000 metre drill program by the Canadian summer.
Having raised A$7.8 million during 2020, the company is well funded to carry out mining development tasks such as an initial preliminary economic assessment of the Blackdome-Elizabeth Project and updating resource estimates.
The Blackdome-Elizabeth Gold Project consists of two separate mineralisation styles – the Elizabeth Zone is 200 kilometres north of Vancouver and the Blackdome Zone is around 30 kilometres north of Elizabeth.
Blackdome has previously produced 225,000 ounces of gold at a grade of 20 g/t.
The key exploration goal for Tempus throughout 2021 is to increase the size and confidence level of the Blackdome/Elizabeth resource estimate, which will support an economic study for the development and restart of mine operations.
Immediate activities at Elizabeth include the following:
- Complete phase-I diamond drilling;
- Phase 2 diamond drilling – 7,500 metres;
- Conduct an Archaeology study encompassing prospective areas;
- Follow up on strong soil anomaly 2.5 km east of Elizabeth;
- Fly airborne magnetics survey over entire Elizabeth block (>100 square kilometres ); and
- Follow-up on regional stream sediment anomalies.
At Blackdome Tempus plans to conduct alteration mapping study using a portable infrared mineral analyser, target high-grade boiling zone by diamond drilling, conduct geological mapping and prospecting program west and south of Blackdome and follow up on previously and newly discovered targets.
Additionally, the company also plans to update the resource estimate following 2021 drilling and review the preliminary economics of the project.
Zamora Projects - Ecuador
As well as its Canadian asset, the company is also actively exploring in Ecuador at the Zamora Projects (comprising the Valle del Tigre and Rio Zarza projects), where TMR is awaiting results of an upcoming field sampling program at Valle del Tigre.
At Rio Zarza, drilling permits are in place for stream sampling to take place in early 2021.
This project is adjacent to the most valuable greenfields gold discovery of the last 15 years, Lundin Gold’s Fruta del Norte, and hosts strikingly similar geochemistry, alteration and geological features.
Valle del Tigre is a larger concession area to the north with similar subparallel NNE rift faults to those controlling Fruta del Norte, and strong gold showings in stream sediment analysis.
Ecuador has become one of the most sought after exploration jurisdictions for gold and base metals exploration: BHP, Fortescue, Newcrest, Solgold, Anglo and First Quantum have made advances in the country.