Tempus Resources higher with diamond drilling to start soon at Blackdome-Elizabeth Gold Project in Canada
Equipment will be mobilised to the project within the next month once final approval is received for its Notice of Work for Blackdome.
Company
ASX:TMR
Tempus Resources Ltd (ASX:TMR) is actively exploring projects in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high-grade gold past-producing project in Southern British Columbia. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects in southeast Ecuador.
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Equipment will be mobilised to the project within the next month once final approval is received for its Notice of Work for Blackdome.
Tranche-2 of the raising was approved at a general meeting of shareholders held on June 22.
A significant resistivity anomaly in which the Fruta del Norte deposit is hosted extends to the west and below the current extent of drilling at Rio Zarza.
Strong support has been received from international investors such as Sprott Asset Mananagement LP and an Asia-based natural resources investment fund.
The company plans to allocate further resources to advance its Mineral Creek Property along with its larger, more advanced flagship Blackdome-Elizabeth Gold Project.
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.
The exploration program is on schedule and will include resource extension, verification, and exploration of newly discovered targets, including the prospect 2.5 kilometres from the known Elizabeth deposit.
The Zamora Projects provide high-quality early-stage gold exploration prospects in Ecuador and are within a 1,000-hectare combined concession package adjacent to the Fruta del Norte Gold Project.
Brendan Borg now holds 2.2 million shares in the gold explorer in two indirect interests.
The company completed an airborne geophysical survey over the Zamora Projects during the December quarter with processed data and interpretation expected this month.
Drilling and trenching programs to commence at Blackdome and Elizabeth in May, focusing on resource extension and exploration of newly defined targets.
A soil sampling program has identified a 400x150 metre gold-in-soil anomaly 2.5 kilometres from the Elizabeth deposit with shares up 16%.
Results from a recently completed Mobil Metal Ion soil survey at Rio Zarza have been received and are being analysed by Tempus’ technical staff.
Planning is underway for major resource infill, expansion and exploration drilling programs to begin in April 2020.
Tempus is focused on two gold projects, one in Ecuador and one being acquired in Canada.
Planning underway for major resource infill, expansion and exploration drilling programs to commence in April 2020.
During the September quarter, Tempus entered into an agreement to acquire Sona Resources Corp, which holds the Blackdome-Elizabeth Gold Project in British Columbia, Canada.
Permitting for drilling of key targets on Rio Zarza concession advancing, with drilling expected in Q1 2020.
Rio Zarza is adjacent to the world-class Fruta del Norte gold project, which is under development by Lundin Gold, 27%-owned by Newcrest.
Existing development plans for Blackdome-Elizabeth Gold Project include constructing about 4 kilometres of new haul road and upgrading 35 kilometres of existing road.
Borg has stepped up from his technical director role to commit to the company full time.
Tempus is a multi-commodity exploration company with assets in South Australia and the Northern Territory, as well as in Ecuador.
Tempus to review and update the historical Preliminary Economic Assessment and report it in accordance with the JORC Code before commencing a feasibility study.
The company’s securities will be in a trading halt until Monday, August 19, or when an announcement is released.
The company is testing high-grade surface copper mineralisation and soil geochemical anomalies identified in 2018.
Community engagement in the Valle del Tigre area is also expected to begin in July with a field-based technical program planned to follow once stakeholder relationships have been established.
Ecuador received Best Country award at Mines and Money in London in 2017 for its attractiveness for investors and its growing mining industry.
The Zamora Projects provide high-quality early-stage gold exploration prospects close to Lundin Gold's Fruta del Norte.
Concurrent with the acquisition, Tempus has appointed key experts in epithermal gold exploration including non-executive director Gary Artmont and proposed chief operations officer in Latin America Rodrigo Izurieta.
Investments and investor services
The Sydney session is on next Monday, June 3, and the Melbourne session is on Tuesday, June 4.
Investments and investor services
The company plans to redevelop the historical Dolphin mine on King Island’s southeast coast.
Hardware & electrical equipment
A recent strategic review has resulted in the company focusing on the global healthcare sector.
Ecuador received the “Best Country” award at Mines and Money London in 2017 for its attractiveness for mineral investors and growing mining industry.
The company has recently acquired gold projects in Ecuador, a rapidly evolving exploration hotspot.