ASX / TSX-V ANNOUNCEMENT
HIGHLIGHTS:
5 drill-holes with significant intersections >5g/t gold
Outstanding intersections included:
EZ-20-06: 5.0m at 61.3g/t gold from 116.5m, including 1.5m at 186.0g/t gold from 118.0m
EZ-20-10: 3.2m at 28.1g/t gold from 184.0m, including 0.5m at 178.0g/t gold from 184.5m
Drilling at Elizabeth to re-commence to complete remaining two thirds of Phase 1 drilling program during the Canadian spring
Perth, Australia, Tempus Resources Ltd. (“Tempus Resources” or the “Company”) (ASX: TMR, TSX-V: TMRR) is pleased to announce that it has received assays from the first 11 successfully completed drill-holes of the Phase 1 drilling program on the Elizabeth sector of the Blackdome Elizabeth Gold Project.
Tempus Resources President, Jason Bahnsen, commented “The Phase 1 drilling results confirm the high-grade potential of Elizabeth. We look forward to continuing with the drilling program there in the Canadian spring, leading to an updated NI43-101 resource estimate thereafter.”
11 diamond drill holes, for a total of 2,006 meters, were successfully completed of the total 6,000 meter Phase 1 drilling program on the Elizabeth sector of the Blackdome Elizabeth Gold Project. The drilling was completed from mid-November to mid-December 2020. The primary focus of this initial drilling was infill and down dip extension at the southern portion of the Southwest (SW) Vein and a single drill-hole testing the extension of the West and Main veins (see Figures 1 and 2).
The 10 holes with reportable intersections provided the following results.*
ΕΖ−20−01
1.20m at 0.62g/t gold and 3.12g/t silver from 52.4m
EZ-20-04
3.02m at 5.26g/t gold and 7.51g/t silver from 101.5m, including:
1.70m at 9.74g/t gold and 3.88g/t silver from 103.0m
EZ-20-05
0.60m at 0.27g/t gold and 0.13g/t silver from 175.9m
EZ-20-06
5.00m at 61.3g/t gold and 44.5g/t silver from 116.5m, including:
1.50m at 186.0g/t gold and 133.0g/t silver from 118.0m
EZ-20-07
1.50m at 9.60g/t gold and 0.70g/t silver from 71.0m
1.00m at 8.09g/t gold and 1.40g/t silver from 155.0m
EZ-20-08
2.00m at 1.80g/t gold and 2.96g/t silver from 86.0m
2.00m at 2.54g/t gold and 0.89g/t silver from 92.0m
EZ-20-09
1.70m at 0.59g/t gold and 0.50g/t silver from 77.0m
0.55m at 0.86g/t gold and 4.75g/t silver from 190.7m
EZ-20-10
2.00m at 1.20g/t gold and 1.19g/t silver from 107.0m
3.20m at 28.1g/t gold and 4.74g/t silver from 184.0m, including:
0.50m at 178.0g/t gold and 27.0g/t silver from 184.5m
0.55m at 1.20g/t gold and 1.35g/t silver from 198.2m
EZ-20-11
3.00m at 0.15g/t gold and 0.36g/t silver from 73.0m
0.50m at 0.52g/t gold and 0.92g/t silver from 269.0m
EZ-20-12
3.70m at 3.73g/t gold and 1.95g/t silver from 52.0m, including
2.00m at 5.60g/t gold and 2.95g/t silver from 52.0m
2.00m at 0.61g/t gold and 2.55g/t silver from 63.0m
* Note: No significant intersections were returned from drill-hole EZ-20-03. Intersection widths are down hole widths, true width estimates are shown in Appendix 1 – Table 2.
There are approximately 4,000 meters of drilling remaining in the Elizabeth Phase 1 drilling program. Tempus expects to re-commence drilling and complete the remaining program in the Canadian spring. Given the early success of the Phase 1 drilling program, it will be immediately followed by: preparation of an updated NI43-101 Mineral Resource estimate; and an additional 7,500 meter Phase 2 program focused on delineation of additional resources at the Southwest, Main and West Veins as well as untested soil geochemistry targets identified in previous years.
Tempus is very encouraged by the first tranche, Phase 1 results at the Elizabeth Project. These results increase the confidence level of the geological model that will be utilized for resource estimation work over the coming year.
The Elizabeth Phase 1 high-grade intercepts are consistent with historic values previously reported, including 331 g/t gold over 95 cm (E07-43), and visible gold that was identified in drill hole EZ-20-06 as announced in a Tempus Resources press Release on December 15, 2020 which returned values up to 186g/t gold over 1.5 meters.
The high-grade gold mineralization in the SW Vein has only been defined to shallow depths (~200m) and along a strike length of approximately 400m however distant drill holes along trend indicate the SW Vein may extend along strike to the northeast an additional 400m for total strike of 800m.
Figure 1- Elizabeth Project Veins and 2020 Drilling
Figure 2- Elizabeth Project Southwest Vein Longitudinal Section
The Main and West Veins were explored by underground drifts in the 1940’s and 50’s and have only seen minimal exploration since. EZ-20-11 is a significant step out to the southwest (~300m) of the West and Main vein and was successful in intersecting both veins. Although width and grade were low the alteration and associated mineralization indicate these to be the continuation of the West and Main vein. Tempus believes these veins warrant follow up exploration as it indicates continuity of the veins over a greater strike length.
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 NI43-101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears.
For further information:
TEMPUS RESOURCES LTD
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”) 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 in 2021. 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.
Appendix 1
Table 1:Drill Hole Collar Table
Table 2: Significant Interval Table
Table 3: Historic Intervals
Appendix 2: The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of Exploration Results for the Blackdome-Elizabeth Gold Project
Section 1: Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
IMPORTANT NOTICE AND DISCLAIMER
Paid Advertisement
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 Tempus Resources. to conduct investor awareness advertising and marketing and has paid the Publisher the equivalent of one hundred sixty-six 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.
Information
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.
Terms of Use and Disclaimer
By reading this communication you agree that you have reviewed and fully agree to the Terms of Use found here https://www.valuethemarkets.com/terms-conditions/ and acknowledge that you have reviewed the Disclaimer found here https://www.valuethemarkets.com/disclaimer/. If you do not agree to the Terms of Use, please contact ValueTheMarkets.com to discontinue receiving future communications.
Intellectual Property
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.
Authors: ValueTheMarkets
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.
