Financial News
Tempus Sampling Results Show Increased Gold Mineralisation Footprint at Elizabeth
Perth, Australia--(Newsfile Corp. - September 21, 2023) - Tempus Resources Ltd. (ASX: TMR) (TSXV: TMRR) (OTC Pink: TMRFF) ("Tempus" or "the Company") is pleased to announce the assay results from the rock sampling program completed at Elizabeth in July. The Company also provides an update on the progress of work on its updated NI43-101/JORC resource estimate for the Elizabeth Project in British Columbia.
HIGHLIGHTS
- Assays received from the Elizabeth Gold Project rock sampling program completed in July, highlight the potential for two new areas that are prospective to host gold vein mineralisation:
Elizabeth East
- Located approximately 2.5km east of the current Elizabeth drilling area
- Rock chip samples with assay grades of up to 5.9g/t gold
Elizabeth Northwest
- Located approximately 1.0km north of the current Elizabeth drilling area
- Identified as northern extension of Listwanite Vein
- Two samples returned anomalous gold grades
- Elizabeth East and Elizabeth Northwest zones will be included in future drill programs targeting expansion of the overall gold mineralisation footprint at Elizabeth
Tempus Resources, President and CEO, Jason Bahnsen, commented "The results of the rock sampling program provide further evidence of the potential to significantly increase the mineralisation footprint at Elizabeth. Work continues on the updated resource estimate for Elizabeth with results expected to be received in October."
Elizabeth Rock Sampling Program
The Elizabeth Gold Project has an overall area of approximately 11,500 hectares. The recent drilling program at Elizabeth has focused on a small area of intrusive hosted quartz veins with an area of approximately 110 hectares.
The 2023 rock sampling and geological mapping program at Elizabeth focused on "ground truthing" the identified geophysical anomalies across three key target areas. Of the 90 rock ship samples collected, six showed anomalous gold assay grades (see Figure 1).
Figure 1 - Elizabeth Rock Sample Results
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The sampling and mapping features of each of the key target areas are outlined below.
Elizabeth Northwest Zone
Fourteen rock samples were taken from an area to the northwest of the Elizabeth Main zone. The samples were collected within a protruding erosion-resistant outcrop which is the upper projection of Listwanite vein. Observed within the outcrop are multiple and intense anastomosing quartz, calcite and barite veining, within reddish, silicified listwanitic ultramafic where fuchsite was noted. Vuggy quartz was also noted.
Two rock samples returned anomalous gold assay results (see Appendix Table 1 for full details).
Elizabeth Northwest Rock Sample | 0.662 grams per tonne gold | ||
Elizabeth Northwest Rock Sample | 0.667 grams per tonne gold |
Three historical drill holes (E04-01, E04-03 and E04-05) indicated presence of a gold-mineralized vein structure on this area, now being called as Listwanite Vein (See Figure 1). Hole E04-01 intersected 15.5 m wide zone @ 1.01 g/t over 15.5 m, including 2.09 g/t over 1.5 m. This mineralized intersect is hosted by diorite, within contact zone with a listwanitic ultramafic rock. (See Appendix 1, Table 1b and Table 2 for full details of historic drill holes E04-01, E04-03 and E04-05)
Elizabeth East Zone
The 2019 soil geochemistry survey identified a 400m x 150m east-west trending gold in soil anomaly in an area with no previously known mineral showings, located approximately 2.5 km east of the Elizabeth Main zone, including multiple samples > 0.1 g/t gold to a maximum of 0.66 g/t gold.
The strongly anomalous multi-element results are identified as residual soils, implying that the anomaly is true and locally derived.
The 2023 rock sampling and mapping program identified dioritic intrusive "windows" within the ultramafic-dominated Elizabeth East anomaly area. This provides further support to the overall size of the Blue Creek Porphyry intrusion that hosts the gold veins at Elizabeth being much larger in size.
Tempus took 55 rock samples across the Elizabeth East anomaly area. Three rock samples returned anomalous gold assay results. (see Appendix Table 1 for full details)
Elizabeth East Rock Sample | 5.900 grams per tonne gold | outcrop sample | |||
Elizabeth East Rock Sample | 0.988 grams per tonne gold | outcrop sample | |||
Elizabeth East Rock Sample | 1.790 grams per tonne gold | float sample |
Elizabeth South Zone
A total of four samples were collected from this area. No anomalous gold in the assay results.
Elizabeth Resource Estimate
SRK Consulting (Canada) Inc. ("SRK") continue to work on the updated resource for the Elizabeth Gold Project.
There are a number of workstreams to be completed for the updated resource estimate including:
Task | Completion |
Vein Structural Study | Completed |
Review Geological Database and Complete QA/QC assessment | Completed |
Integrate UG mapping data and stereonet for grade analysis | Completed |
Assess for Vein Continuity | Completed |
Complete Fault Model | Pending |
Update Vein Model | Pending |
SRK Peer Review | Pending |
Estimate Resources, Validation, Classification | Pending |
Reporting | Pending |
Tempus expects to have its updated Mineral Resource estimate complete in October.
Corporate
Tempus also announces that it has granted 8,500,000 options to acquire common shares to certain directors, officers, and consultants of the Company. The options are exercisable at a price of $0.06 per share and are valid for a period of five years. 4,000,000 of the proposed option issuance will be subject to shareholder approval at a forthcoming general meeting.
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Sonny Bernales, who is a Member of the Engineers and Geoscientists British Columbia (EGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Bernales has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person for the purposes of NI43-101. Mr. Bernales consents to the inclusion of the data in the form and context in which it appears.
This announcement has been authorised by the Board of Directors of Tempus Resources Limited.
For further information:
TEMPUS RESOURCES LTD
Melanie Ross - Director/Company Secretary Phone: +61 8 6188 8181
About Tempus Resources Ltd
Tempus Resources Ltd ("Tempus") is a growth orientated gold exploration company listed on ASX ("TMR") and TSX.V ("TMRR") and OTC ("TMRFF") stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high-grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed under the heading "Risk and Uncertainties" in the Company's Management's Discussion & Analysis for the quarter and nine months ended March 31, 2023 dated May 12, 2023 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice.
Neither the ASX Exchange, the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Appendix 1
Table 1a: Significant Rock Sample Location and Assay Results
UTM | UTM | ||||
Exploration Zone | Sample ID | Sample Type | Easting (NAD83 | Northing (NAD83 | Assay Grade grams |
Z10) | Z10) | per tonne gold | |||
Elizabeth East | E00075552 | Outcrop / Chip | 534367.50 | 5654760.92 | 5.900 |
Elizabeth East | E00075553 | Outcrop / Chip | 534381.92 | 5654754.57 | 0.988 |
Elizabeth East | E00075601 | Float | 534350.40 | 5654677.18 | 1.790 |
Elizabeth Main | E00075666 | Outcrop / Chip | 531693.19 | 5653817.34 | 0.932 |
Elizabeth Northwest | E00075674 | Float | 530733.52 | 5654565.10 | 0.662 |
Elizabeth Northwest | E00075675 | Float | 530734.08 | 5654575.89 | 0.667 |
Significant Rock Sample is defined as sample with gold assay grades greater than 0.200 grams per tonne.
Table 1b: Location of Historic Drill Holes E04-01, E02-03, E04-05 (2004 Drilling by Sona Resources Corp)
UTM | UTM | ||||||
Hole ID | Target | Easting (NAD83 | Northing (NAD83 | Elevation (m) | Length (m) | Azimuth (o) | Dip (o) |
Z10) | Z10) | ||||||
E04-01 | Listwanite Vein | 530750.45 | 5654195 | 2337.78 | 109.15 | 100 | -50 |
E04-03 | Listwanite Vein | 530807.04 | 5654400 | 2297.25 | 182.3 | 100 | -45 |
E04-05 | Listwanite Vein | 530857.5 | 5654545 | 2260.49 | 106.1 | 90 | -45 |
Table 2: Significant Intersections of Historic Drill Holes E04-01, E04-03, E04-05 (2004 Drilling by Sona Resources Corp)
Hole ID | From (m) | To (m) | Interval (m) | True Thickness (m) | Gold Grade (g/t) | |||||
E04-01 | 78.75 | 94.25 | 15.5 | 13.17 | 1.01 | |||||
including | 80.5 | 82.85 | 2.35 | 2.00 | 1.42 | |||||
and | 102.15 | 105.55 | 2.05 | 1.74 | 1.54 | |||||
including | 104.05 | 105.55 | 1.5 | 1.28 | 2.09 | |||||
E04-03 | 45.15 | 48.15 | 3 | 2.55 | 0.83 | |||||
including | 45.15 | 46.65 | 1.5 | 1.28 | 1.48 | |||||
E04-05 | 19.85 | 36.5 | 16.65 | 14.15 | 0.15 | |||||
including | 25.9 | 32.15 | 6.25 | 5.31 | 0.21 |
True Width estimated to be 85% of interval thickness
Note: Table 1a and Table 2 contain all relevant information that the Company is aware of in respect of historic drill holes EZ04-01, EZ04-03 and EZ04-05 drilled by Sona Resources Corp in 2004.
Appendix 2: The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of Exploration Results for the Elizabeth - Blackdome Gold Project
Section 1: Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria | JORC Code explanation | Commentary | ||
Sampling techniques |
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Drilling techniques |
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Drill sample recovery |
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Criteria | JORC Code explanation | Commentary | ||
Logging |
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Sub- sampling techniques and sample preparation |
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Quality of assay data and laboratory tests |
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Verification of sampling and assaying |
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Criteria | JORC Code explanation | Commentary | |
Location of data points |
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Data spacing and distribution |
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Orientation of data in relation to geological structure |
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Sample s Security |
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Audits or Reviews |
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Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria | JORC Code explanation | Commentary | |
Mineral tenement and land tenure status |
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Exploration done by other parties |
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Criteria | JORC Code explanation | Commentary |
Mining operations lasted six months and ended in May of 1999. During this period, 6,547 oz of Au and 17,300 oz of Ag were produced from 21,268 tons of ore. Further exploration programs were continued by Claimstaker over the following years and a Japanese joint venture partner was brought onboard that prompted a name change to J-Pacific Gold Inc. This partnership was terminated by 2010, resulting in another name change to Sona Resources Corp.
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Geology |
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Criteria | JORC Code explanation | Commentary |
Geochemical studies (Vivian, 1988) have shown these rocks to be derived from a "calc-alkaline" magma in a volcanic arc type tectonic setting. Eocene age granitic intrusions at Poison Mountain some 22 kilometres southwest of Blackdome are host to a gold bearing porphyry copper/molybdenum deposit. It is speculated that this or related intrusions could reflect the source magmas of the volcanic rocks seen at Blackdome. There is some documented evidence of young granitic rocks several kilometres south of the mine near Lone Cabin Creek. The youngest rocks present are Oligocene to Miocene basalts of the Chilcotin Group. These are exposed on the uppermost slopes of Blackdome Mountain and Red Mountain to the south.
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Criteria | JORC Code explanation | Commentary |
Drill hole Information |
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Data aggregation methods |
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Relationship between mineralisation widths and intercept lengths |
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Diagrams |
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Criteria | JORC Code explanation | Commentary |
Balanced reporting |
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Other substantive exploration data |
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Further work |
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181370
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