Tempus Resources Ltd. (“Tempus” or the “Company”) (ASX: TMR, TSX.V: TMRR) is pleased to announce that it has completed the Phase I exploration program at its Valle de Tigre II Project located in southeastern Ecuador.
Field crews at Valle del Tigre II (VdT) have successfully completed the Phase I sampling program consisting of 167 soil samples, 20 stream sediment samples and 9 rock samples (Figure 2). All samples have been sent to SGS del Ecuador, in Guayaquil, where they will be prepared before being sent to SGS del Peru for analysis.
During the sampling program, Tempus geologists identified coarse gold in streams using traditional panning methods (see figure 1) with up to 11 gold grains in one pan along with several artisanal gold workings in the sampling area (figure 2). Rock samples proximal to these gold workings contained sulphide veins with visible pyrite-chalcopyrite-bornite within altered sandstone and granitic rocks. The gold mining activities at VdT appear to be along mineralized structures which are coincident with strong conductive anomalies identified in the airborne ZTEM geophysical survey.
Tempus CEO/President Jason Bahnsen commented,
“We look forward to receiving the assay results from the 198 samples in this initial program. The presence of both visible gold and copper mineralization during the field work is very encouraging and together with the geophysical anomalies suggest the potential for both gold and copper porphyry mineralization within the project area. Valle del Tigre II is situated in the heart of the Cordillera del Condor mineral belt of southeast Ecuador with the Mirador porphyry copper mine to the north and the Fruta del Norte gold project to the south.”
The Valle del Tigre II project is a grassroots-stage exploration project in the highly prospective Cordillera del Condor mineral belt of southeast Ecuador. The Valle del Tigre II boundary is situated approximately 2.5 km northwest of Lundin Mining’s, Fruta del Norte, epithermal Au-Ag deposit (7.35 M oz Au @ 9.61 g/t Indicated Resource) and approximately 15 km southwest of the Mirador Cu-Au porphyry deposit (3.2 Mt Cu, 3.4 Moz Au, and 27.1 Moz Ag in proven and probable reserves) owned by CRCC-Tongguan Investment Co., as shown in figure 3. The property is underlain by the same sedimentary and volcanic rock sequence and lies within the same structural corridor as Fruta del Norte (FdN).
The Identification of Geophysical Targets for Valle del Tigre II
Tempus has engaged Insight Geophysics to interpret the ZTEM airborne geophysical survey data, conducted by Geotech Ltd. over the VdT property in late 2019 (news release, Dec. 16, 2019). The recent interpretation by Insight has defined strong conductive anomalies which were identified using geophysical response and parameters defined by direct FdN studies.
The entire Tempus data set was examined for FdN class targets. Definition of RZ plus two additional mineralized trends outlined on VdT are under examination for drill testing and will be reported in due course. The ZTEM trends coincide with known regional structures important to mineralization in the area. The ZTEM highlights the NNW-SSE structure bound by NE-SW structures in VdT, which is similar to the controlling structures present at Fruta del Norte.
Geotech Ltd., with contributions from Insight Geophysics and Tempus, will be presenting a case study at the Canadian Exploration Geophysical Society (KEGS) using ZTEM data from Rio Zarza which covered Fruta del Norte and the Valle del Tigre II property. The case study titled: ZTEM Natural Field EM, Magnetic and Radiometric Results over the Rio Zarza Au-Ag epithermal project Zamora Province, Ecuador, will be presented online March 18, 2021.
Tempus Exploration in Ecuador 2021
Due to the impact of COVID-19 global pandemic over the past year, the Ecuadorian Presidential elections and the recent exploration results, Tempus has placed previous strategic discussions regarding the Rio Zarza project on hold for the present time. Tempus is currently not planning to complete any drilling on the Rio Zarza Project during the 2021 year.
The Tempus exploration activities in Ecuador during 2021 will focus on the identification and development of drill targets at Valle del Tigre II to complement the drill ready Rio Zarza project.
The Company is encouraged by the potential of its Valle Del Tigre II and Rio Zarza exploration projects in Ecuador and believe these projects will generate significant value for Tempus shareholders.
This announcement has been authorised by the Board of Directors of Tempus Resources Limited.
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Kevin Piepgrass, who is a Member of the Association of Professional Engineers and Geoscientists of the province of BC (APEGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Piepgrass 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 NI 43-101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears.
For further information:
TEMPUS RESOURCES LTD
Phone: +61 8 6188 818
About Tempus Resources Ltd
Tempus Resources Ltd (“Tempus”) is a growth orientated gold exploration company listed on ASX (“TMR”) and TSX.V (“TMRR”) and OTCQB (“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 leading to a PEA study. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador. The Rio Zarza project is located adjacent to Lundin Gold’s Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.
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 continuation of drilling in the Spring of 2021, the receipt of the analysis and assay results from the lab early in 2021, 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 Factors” in the Company’s listing application dated December 3, 2020 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 is expressly qualified in its entirety by this notice.
Neither 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.
IMPORTANT NOTICE AND DISCLAIMER
This communication is a paid advertisement. ValueTheMarkets is a trading name of Digitonic Ltd, and its owners, directors, officers, employees, affiliates, agents and assigns (collectively the “Publisher”) is often paid by one or more of the profiled companies or a third party to disseminate these types of communications. In this case, the Publisher has been compensated by Defense Metals Corporation. to conduct investor awareness advertising and marketing and has paid the Publisher the equivalent of forty thousand US dollars to produce and disseminate this and other similar articles and certain related banner advertisements. This compensation should be viewed as a major conflict with the Publisher’s ability to provide unbiased information or opinion.
Changes in Share Trading and Price
Readers should beware that third parties, profiled companies, and/or their affiliates may liquidate shares of the profiled companies at any time, including at or near the time you receive this communication, which has the potential to adversely affect share prices. Frequently companies profiled in our articles experience a large increase in share trading volume and share price during the course of investor awareness marketing, which often ends as soon as the investor awareness marketing ceases. The investor awareness marketing may be as brief as one day, after which a large decrease in share trading volume and share price may likely occur.
No Offer to Sell or Buy Securities
This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security.
Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position.
This communication is based on information generally available to the public and on an interview conducted with the company’s CEO, and does not contain any material, non public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher does not guarantee the accuracy or completeness of the information. Further, the information in this communication is not updated after publication and may become inaccurate or outdated. No reliance should be placed on the price or statistics information and no responsibility or liability is accepted for any error or inaccuracy. Any statements made should not be taken as an endorsement of analyst views.
No Financial Advice
The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser or a financial adviser. The Publisher has no access to non-public information about publicly traded companies. The information provided is general and impersonal, and is not tailored to any particular individual’s financial situation or investment objective(s) and this communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor or a personal recommendation to deal or invest in any particular company or product. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company’s SEC, SEDAR and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk. Past performance does not guarantee future results.
Forward Looking Statements
This communication contains forward-looking statements, including statements regarding expected continual growth of the featured companies and/or industry. Statements in this communication that look forward in time, which include everything other than historical information, are based on assumptions and estimates by our content providers and involve risks and uncertainties that may affect the profiled company’s actual results of operations. These statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results and performance to differ materially from any future results or performance expressed or implied in the forward-looking statements. These risks, uncertainties and other factors include, among others: the success of the profiled company’s operations; the size and growth of the market for the company’s products and services; the company’s ability to fund its capital requirements in the near term and long term; pricing pressures; changes in business strategy, practices or customer relationships; general worldwide economic and business conditions; currency exchange and interest rate fluctuations; government, statutory, regulatory or administrative initiatives affecting the company’s business.
Indemnification/Release of Liability
By reading this communication, you acknowledge that you have read and understand this disclaimer in full, and agree and accept that the Publisher provides no warranty in respect of the communication or the profiled company and accepts no liability whatsoever. You acknowledge and accept this disclaimer and that, to the greatest extent permitted under applicable law, you release and hold harmless the Publisher from any and all liability, damages, injury and adverse consequences arising from your use of this communication. You further agree that you are solely responsible for any financial outcome related to or arising from your investment decisions.
All trademarks used in this communication are the property of their respective trademark holders. Other than Valuethemarkets.com, the Publisher is not affiliated, connected, or associated with, and the communication is not sponsored, approved, or originated by, the trademark holders unless otherwise stated. No claim is made by the Publisher to any rights in any third-party trademarks other than Valuethemarkets.com.
Valuethemarkets.com and Digitonic Ltd and our affiliates are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above. This article does not provide any financial advice and is not a recommendation to deal in any securities or product. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.
ValueTheMarkets do not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above piece. ValueTheMarkets have been paid to produce this piece by the company or companies mentioned above. Digitonic Ltd, the owner of ValueTheMarkets.com, has been paid for the production of this piece by the company or companies mentioned above.