Tempus Commences 2023 Exploration at Elizabeth Gold Project
Perth, Australia--(Newsfile Corp. - June 5, 2023) - Tempus Resources Ltd (ASX: TMR) (TSXV: TMRR) (OTC Pink: TMRFF) ("Tempus" or "the Company") is pleased to announce the commencement of the 2023 Exploration and Development program at its Elizabeth/Blackdome Gold Projects located in Southern British Columbia.
HIGHLIGHTS
The 2023 exploration program at Elizabeth Gold Project has begun and is planned to include:
Completion of approximately 4,000 metres of drilling targeting the further delineation of Blue Vein/No 9 Vein, further expansion of the Ella Zone and additional infill drilling, drilling to commence in early July
Property wide field exploration program to identify additional brownfields targets generated by 2021 airborne magnetic survey. Field work, which will include detailed mapping and rock chip sampling program has already commenced
Updated JORC/NI43-101 Resource
Work is continuing on the completion of an updated JORC/NI43-101 Resource estimate for the Elizabeth and Blackdome Gold Projects, release targeted for the end of June, 2023
Engineering studies to be completed include:
Results of the Blackdome Mill restart and expansion study completed by JDS Energy and Mining Inc. and the Optimize Group Inc in 2022 will be announced following the release of the updated resource estimate for the project
Review of the haul road design and permitting linking the Elizabeth Project to the Blackdome Mill facilities located approximately 30 km to the north
Tempus Resources, President and CEO, Jason Bahnsen, commented, "2023 will be an exciting year for Tempus. We plan on announcing the a resource estimate for both Elizabeth and Blackdome Projects, as well as the restart plan for the Blackdome mill. A 4,000 metre drilling program will target further expansion of existing veins and the identification of new veins. In addition, the Company is conducting a detailed mapping and rock chip sampling program to "ground truth" several of the brownfields targets generated by the 2021 geophysics program on the 115 square kilometre Elizabeth property."
2023 Drilling Program
Following on from the success of the 2021 and 2022 drill programs, Tempus is planning on completing a 4,000 metre diamond drilling program at Elizabeth to provide further delineation of existing veins and identify new vein prospects on the property (see Figure 1). Drilling is planned to commence in early July.
Figure 1 - Elizabeth plan view showing 2023 drill-hole locations
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Key targets of the 2023 drill program include:
No. 9 Vein
In 2022, Tempus completed 10 drill holes targeting the No. 9 Vein with five holes assaying "bonanza" grades of over 1 oz gold per tonne including EZ22-20 that included a continuous intersection assaying 28.1 g/t gold over 28.50 metres from 84.40 metres (see announcement dated 9 January 2023 for full details).
The high-grade zones of the No. 9 vein have now been demonstrated over 250 metres along strike and remains open along strike and depth.
Ten new drill-holes are planned for the No. 9 vein in the 2023 drill program. The drilling will target the extension of the No. 9 vein to the southwest and north east along strike as well as the open zone between the high-grade zones.
Figure 2 - Elizabeth No. 9 Vein Section View (looking East)
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Blue Vein
During the 2021/2022 drill seasons, Tempus completed 21 drill-holes targeting the Blue Vein, delineating high-grade gold mineralisation over a strike distance of approximately 300 metres. Eight of the Blue Vein drill holes reported assay intersections with 'bonanza' grades of over 1 oz gold per tonne. The Blue Vein remains open along strike and at depth.
In 2023, drilling will test the Blue Vein for southern and northern extensions. Ten drill holes targeting the Blue Vein are planned for 2023.
Figure 3 - Blue Vein Section View (Looking Northwest)
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D Vein / West Vein / Main Vein
An extension of the D Vein (previously referred to as the West Hanging Wall Vein) was identified from 2022 drill-hole EZ-22-24 intersected a high-grade zone assaying 14.3g/t gold over 1.10 metres from 82.90 metres (see announcement of 20 February 2023 for full details).
The 2022 drill program identified extensions to the West and Main vein by approximately 220 metres (see announcement of 15 December 2022 for full details).
Two drill-holes are planned in the 2023 season that target further delineation of the identified extensions to the D Vein, the West Vein and the Main Vein.
Ella Zone
The Ella Zone was identified by rock chip sampling in 2021. Three drill-holes in 2022 identified multiple vein structures with widths of up to 1.40m.
One drill-hole is planned in 2023 to further test the Ella Zone.
Listwanite Vein
The Listwanite Vein is located approximately 300 metres northwest of the No.9 Vein and Blue Vein structures. The listwanite zone, at Elizabeth, is oriented sub-parallel to the other major veins at Elizabeth and has a identified strike length of over 350 metres with indication that it might extend to about 750 metres with known vein widths of up to 15.5 metres. More vein zones are expected to be present between No.9 vein and Liswanite vein. The Listwanite Vein is crosscut by numerous quartz vein stockworks and by a large laminated quartz vein that appears similar to other Elizabeth veins suggesting the gold mineralisation occurred after the formation of the listwantite alteration.
Historic drilling of the Listwanite Vein is limited to three drill-holes completed in 2004 that indicated wide zones of up to 15.50 metres of low-grade gold mineralisation.
Nine drill holes are planned in 2023 to test the Listwanite Vein and the area between the Listwanite Vein and the No. 9 Vein.
Figure 4 - Elizabeth Veins Cross Section (showing West Hanging Wall Vein Location)
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Geogolical Field Study - Expanding the Resource Base
Tempus is beginning the 2023 exploration season with a geological field study of potential mineralisation targets outside the current drilling area (Elizabeth Main) to expand the overall resource base of the project. The field study will include prospecting and; geological mapping and rock chip sampling of new target areas identified by 2021 geophysical surveys. The target areas include several identified magnetic lows that are prospective to host gold mineralisation similar to the veins currently being drilled at Elizabeth Main area.
In 2021, Tempus completed an airborne magnetic and radiometric survey over the Elizabeth Gold Project (a total of 735 line-kilometres). The airborne magnetic survey data was reviewed and interpreted using 3D magnetization vector inversion (MVI) modelling. (see announcement of 13 August 2021 for full details of the geophysical surveys completed)
The geophysical surveys identified the Blue Creek Porphyry, which is the known host of the high-grade Elizabeth gold-quartz veins, as a relative magnetic low anomaly within the Shulaps Ultramafic Complex. From this correlation of geology and geophysics it was determined that the Blue Creek Porphyry, originally explored and mapped to approximately 1.1km2 in size, is likely much larger. The airborne magnetic survey and MVI 3D modelling interpret the Blue Creek Porphyry to be at least four-times the size at approximately 4.5km2 (see Figures 5).
This new geophysical data and interpretation of the Blue Creek Porphyry is also extensive at depth, revealing a robust intrusion extending to at least 2km deep (ie, approximately 10x deeper than mineralisation has currently drill-tested). Such an interpretation further indicates the analogous nature of Elizabeth's potential relative to the nearby Bralorne gold deposit (see Figure 6).
In addition, two other magnetic low anomalies have been identified within the Elizabeth licence area as potential intrusive bodies similar to the Blue Creek Porphyry. These two anomalies show strong continuity along strike and are also extensive at depth.
Figure 5 - The Elizabeth Project Geophysics Interpretation
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Figure 6 - Elizabeth Project - Geophysics Long Section
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Elizabeth East
The field study will also include the Elizabeth East area approximately two and a half kilometers east of Elizabeth Main area where anomalous gold was identified in soil sampling in 2019. (see announcement 8 January 2020 for full details)
A detailed sampling program will be completed at Elizabeth East during the 2023 season to generate additional future drill targets.
Figure 7 - Elizabeth East Gold Target
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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 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. 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 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.
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