First 2021 Drill-Hole at Elizabeth Includes ‘Bonanza’ Gold | Tempus
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COMPANY PRESS RELEASE
Tempus Resources Ltd (ASX:TMR)(TSXV:TMRR)(OTCQB:TMRFF) is pleased to announce it has received the first assay results from 2021 drilling at its Elizabeth Gold Project in Southern BC, Canada, consisting of results for one hole, EZ-21-04.
First assay results return ‘bonanza’ grade gold mineralisation in diamond drill hole EZ-21-04
The EZ-21-04 significant intersection was:
4.00m at 31.2g/t gold from 122.00m, including:
1.50m at 52.1g/t gold from 123.00m, and:
0.50m at 72.0 g/t Au from 124.0m
14 drill-holes completed so far at Elizabeth with multiple assays pending:
Assays for remaining three of first four drill-hole batch expected imminently
Another four holes submitted to the lab in a second batch in July
Additional seven holes completed, with samples being prepared to be sent to the lab
Continued diamond drilling at Elizabeth has confirmed SW Vein mineralisation in drill-holes along strike and down dip of historical resource envelope
Hole EZ-21-04 returned ‘bonanza’ grade gold values. The main significant intersection was 4.00 metres at 31.2g/t gold from 122.00 metres down-hole depth, including 1.50 metres at 52.1g/t gold from 123.00 and including 0.50 metres at 72.0 g/t gold . See Figure 1.
Tempus President and CEO, Jason Bahnsen, commented
“Drilling at Elizabeth continues to generate very high-grade intersections over robust widths. We will be receiving further assay results soon and we’re very excited to see the results as we continue to expand the Elizabeth resource envelope.”
EZ-21-04 is part of the group of the first four drill-holes of the 2021 program, which were designed to intersect the northern ore-shoot of the SW Vein at Elizabeth to test the consistency of grade and add to the confidence level for resource estimation.
That first group of holes were delivered to the lab for analysis on 24 June 2021 and the results of the additional three holes in that batch (EZ-21-01, EZ-21-02 and EZ-21-03) are expected imminently. Given the very high-grade nature of EZ-21-04 and our expectations for other holes in that batch, Tempus has also asked the lab to perform additional tests using screen metallics, which is a technique used for core with coarse grained gold core.
These metallic screen results are still pending and will also be release after they have been received.
Tempus has completed 3,600m of drilling since the program started 5 June 2021 which consists of 14 diamond drill holes. Drill collar information can be seen in Appendix 1, Table 1. Seven of these drill holes are in the analysis phase at SGS and additional holes in the preparation phase on site.
Figure 1 – EZ-21-04 drill results
Tempus’ technical team continue to be encouraged by what they are seeing in the drill core as drilling continues to systematically explore down dip of the southern and northern ore-shoots as well as drill test along strike to the north. See Figures 2 & 3 for recent drill-hole locations.
The Elizabeth Gold Project is the flagship project for Tempus and is located in the Bralorne Gold District of southern British Columbia. The 115km 2 project is a relatively underexplored high-grade mesothermal gold mineralisation presenting itself in relatively wide (typically ~1-5m wide) vein sets.
The high-grade quartz veins encountered in the drilling at Elizabeth show close geological similarities to the Bralorne mesothermal vein system (approximately 30km away), which was mined to a depth of approximately 2,000 metres and produced more than 4 million ounces of gold over a period of 50 years.
Figure 2 – The Elizabeth Project – Plan map of drilling
Figure 3 – Elizabeth Project – Long-section of the SW Vein
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”) 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 Page | 4 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, 2021 dated May 14, 2021 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 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.
Table 1:Drill Hole CollarTable
Table 2: Significant Interval Table
True Thickness (m)
Grade x Metres
*true thickness is estimated using a multiplier of 0.85.
Appendix 2: The following tables are providedto ensure compliance with the JORC Code (2012) requirements for the reporting of Exploration Results for the Elizabeth Gold Project and the Blackdome Mine
Section 1: SamplingTechniques and Data
(Criteria in this sectionapply to all succeeding sections.)
JORC Code explanation
Nature and qualityof sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gammasondes, or handheld XRF instruments, etc).These examples shouldnot be taken as limiting the broad meaningof sampling.
Include reference to measures taken to ensuresample representivity and the appropriate calibration of any measurement tools or systemsused.
Aspects of the determination of mineralisation that are Materialto the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple(eg ‘reverse circulation drilling was used to obtain1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types(eg submarine nodules) may warrant disclosure of detailed
HQ (63.5 mm) sized diamond core using standardequipment.
Mineralised and potentially mineralised zones, comprising veins, breccias, and alteration zoneswere sampled.
Samples were half core.
Typical core samples are 1m in length.
Core samplessent to the lab will be crushedand pulverized to 85% passing75 microns. A 50g pulp will be fire assayedfor gold and multi-element ICP.Samples over 10 g/t gold will be reanalysed by fire assay with gravimetric finish
Drilltype (eg core, reverse circulation, open-hole hammer, rotaryair blast, auger,Bangka, sonic, etc) and details(eg core diameter, triple or standardtube, depth of diamond tails, face-sampling bit or other type, whethercore is oriented and if so, by
what method, etc).
Diamond Drillingfrom surface (HQ size)
Methodof recording and assessing core and chip sample recoveries and results assessed.
Measures taken to maximise samplerecovery and ensurerepresentative nature of the samples.
Whether a relationship exists between samplerecovery and grade and whethersample bias may
have occurred due to preferential loss/gain of fine/coarse material.
Detailed calculation of recovery was recorded, withmost holesachieving over 95%
No relationship has yet been noted between recovery and grade and no sample bias was noted to haveoccurred.
JORC Code explanation
Whether core and chip sampleshave been geologically and geotechnically loggedto a level of detailto support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
The total length and percentage of the relevantintersections logged.
Detailed geological and geotechnical loggingwas completed for each hole.
All core has been photographed.
Complete holeswere logged.
Sub- sampling techniques and samplepreparation
If core, whethercut or sawn and whetherquarter, half or all core taken.
If non-core, whetherriffled, tube sampled,rotary split, etc and whethersampled wet or dry.
For all sample types, the nature, qualityand appropriateness of the samplepreparation technique.
Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.
Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance resultsfor field duplicate/second-half sampling.
Whether sample sizes are appropriate to the grainsize of the material being sampled.
Half core was sampled, using a core saw.
Duplicate samplesof new and historical core are Quarter core or half core where not previously sampled
Sample sizes are considered appropriate for the grain size of the material being sampled.
It is expected that bulk sampling will be utilisedas the projectadvances, to more accurately determine grade.
Quality of assay data and laboratorytests
The nature, qualityand appropriateness of the assaying and laboratory procedures used and whetherthe technique is considered partialor total.
For geophysical tools,spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, readingtimes, calibrations factorsapplied and theirderivation, etc.
Nature of qualitycontrol procedures adopted(eg standards, blanks,duplicates, external laboratory checks) and whetheracceptable levels of accuracy (ie lack of bias) and precision have been established.
Core samplesthat have been sent to the lab for analysis include control samples(standards, blanks and prep duplicates) inserted at a minimum rate of 1:5 samples.
In addition to the minimumrate of inserted control samples, a standard or a blank is inserted following a zoneof mineralization or visible gold
Further duplicate samples were analysedto assess variability
Verification of sampling and assaying
The verification of significant intersections by either independent or alternative companypersonnel.
The use of twinned holes.
Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
Discuss any adjustment to assay data.
Re-assaying of selected intervals of historic corehave been sent for analysis.
JORC Code explanation
Locationof data points
Accuracy and qualityof surveys used to locatedrill holes (collarand down-hole surveys), trenches, mine workings and other locations used in MineralResource estimation.
Specification of the grid system used.
Quality and adequacyof topographic control.
All sampling points were surveyed using a hand held GPS.
UTM grid NAD83 Zone 10.
A more accurate surveypickup will be completed at the end of the program, to ensure data is appropriate for geological modelling and Resource Estimation.
Down hole surveys have been completed on all holes.
Data spacing and distribution
Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserveestimation procedure(s) and classifications applied.
Whether sample compositing has been applied.
Most drilling is targeting verification and extension of knownmineralisation.
It is expected that the data will be utilised in a preparation of a MineralResource statement.
Additional drilling is exploration beneathgeochemical anomalies, and would requirefurther delineation drilling to be incorporated in a MineralResource.
Orientation of data in relation to geological structure
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposittype.
If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias,this should be assessed and reported if material.
In general, the aim was to drill perpendicular to the mineralised structures, to gain an estimate of the true thickness of the mineralised structures.
At several locations, a series (fan) of holes was drilled to help confirm the orientation of the mineralised structures and to keep land disturbance to a minimum.
The measures takento ensure samplesecurity.
Samples from Elizabeth were delivered to the laboratory by a commercial transport service.
Audits or reviews
The results of any auditsor reviews of sampling techniques and data.
An independent geological consultant has recentlyvisited the site as part of preparing an updated NI43-101Technical Reportfor the Project.
Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
JORC Code explanation
Mineral tenement and land tenurestatus
Type, reference name/number, location and ownership including agreements or material issueswith third partiessuch as joint ventures, partnerships, overriding royalties, nativetitle interests, historical sites, wilderness or national park and environmental settings.
The security of the tenureheld at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
The Blackdome-Elizabeth Projectis comprised of 73 contiguous mineral claims underlain by 14 Crown granted mineral claims and two mining leases.
The Propertyis located in the Clintonand Lillooet MiningDivisions approximately 230 km NNE of Vancouver
Tempus has exercised the option to acquire the Elizabeth Gold Project and has completed an addendum to the original Elizabeth Option Agreement
(refer to ASX announcement 15 December 2020)
A net smelter royaltyof 3% NSR (1% purchasable) applies to severalclaims on the Elizabeth Property.
No royalties apply to the Blackdome Property or Elizabeth RegionalProperties.
There are currently no known impediments to developing a project in this area, and all tenure is in good standing.
Exploration done by other parties
Acknowledgment and appraisal of exploration by other parties.
In the 1940s, placergold was discovered in Fairless Creek west of Blackdome Summit.Prospecting by Lawrence Frenier shortly afterward led to the discovery of gold-bearing quartzveins on the southwest slopeof the mountain that resulted in the stakingof mining claimsin 1947. EmpireValley Gold Mines Ltd and Silver Standard Resources drove two adits and completedbasic surface work during the 1950s.
The Blackdome area was not worked again until 1977 when Barrier Reef Resources Ltd. re-staked the area and performed surface work in addition to underground development. The Blackdome Mining Corp. was formed in 1978 and performed extensive surface and underground work with variousjoint venture partnersthat resulted in a positive feasibility study. A 200 ton/daymill, camp facilities and tailings pond were constructed and mining operations officially commenced in 1986. The mine ceasedoperations in 1991,having produced 225,000oz of Au and 547,000oz of Ag from 338,000tons of ore (Godardet al., 2010)
After a period of inactivity, Claimstaker Resources Ltd. tookover the project, reopening the mine in late 1998.
JORC Code explanation
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 producedfrom 21,268 tons of ore. Further exploration programs were continued by Claimstaker over the following years and a Japanese joint venture partnerwas brought onboardthat prompted a name changeto J-Pacific Gold Inc. This partnership was terminated by 2010, resulting in another name change to Sona Resources Corp.
Gold-bearing quartzveins were discovered near Blue Creek in 1934, and in 1940-1941 the Elizabeth No. 1-4 claims were staked.
Bralorne Mines Ltd. optioned the property in 1941 and during the period 1948-1949, explored the presently- named Main and West Veins by about 700 metresof cross-cutting and drifting, as well as about 110 metres of raises.
After acquiring the Elizabeth Gold Project in 2002, J- Pacific (now Sona) has conducted a series of exploration programs that included diamonddrilling 66 holes totalling 8962.8 metres (up until 2009) Other exploration work by Sona at the Elizabeth Gold Project has included two soil grid, stream sediment sampling, geological mappingand sampling, underground rehabilitation, structural mapping and airborne photography and topographic base map generation.
JORC Code explanation
Deposit type, geological setting and styleof mineralisation.
The Blackdome property is situatedin a region underlain by rocks of Triassic to Tertiary age. Sedimentary and igneous rocks of the Triassic Pavilion Group occurring along the FraserRiver represent the oldest rocks in the region. A large, Triassic age, ultramafic complex(Shulaps Complex) was emplaced along the Yalakomfault; a regional scale structure locatedsome 30 kilometres south of the property. Sedimentsand volcanics of the Cretaceous Jackass Mountain Groupand Spences Bridge/Kingsvale Formations overlie the Triassic assemblages. Some of theserocks occur severalkilometres south of Blackdome.
Overlying the Cretaceous rocks are volcanics and minor sediments of Eocene age.These rocks underlie much of
Blackdome and are correlated with the KamloopsGroup
JORC Code explanation
seenin the Ashcroftand Nicola regions.Geochemical studies (Vivian,1988) have shownthese rocks to be derivedfrom a “calc-alkaline” magma in a volcanicarc type tectonicsetting. 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 evidenceof young graniticrocks 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.
Transecting the property in a NE-SWstrike direction are a seriesof faults that range from vertical to moderately westerly dipping. These faultsare the principal host structures for Au- Ag mineralisation. The faults anastomose, and form sygmoidal loops.
The area in which the Elizabeth Gold Project is situated is underlain by Late Paleozoic to Mesozoic rock assemblages that are juxtaposed across a complexsystem of faultsmainly of Cretaceous and Tertiary age. These Paleozoic to Mesozoic-age rocks are intrudedby Cretaceous and Tertiary-age stocksand dykes of mainly felsicto intermediate composition, and are locallyoverlain by Paleogene volcanic and sedimentary rocks. The Elizabeth Gold Project is partly underlain by ultramafic rocksof the Shulaps Ultramafic Complex,which include harzburgite, serpentinite and theiralteration product listwanite.
The gold mineralisation foundon the Elizabeth Gold Project presentcharacteristics typical of epigenetic mesothermal gold deposits. The auriferous quartz vein mineralisation is analogous to that foundin the Bralorne- Pioneer deposits. Gold mineralisation is hosted by a seriesof northeast trending, steeply northwest dippingveins that crosscut the Blue Creek porphyry intrusion. The Main and West vein systems displaymesothermal textures, including ribboned-laminated veins and comprehensive wall rock breccias. Vein formation and gold mineralisation were associated with extensional-
brittle faulting believed to be contemporaneous with mid-
JORC Code explanation
Drill hole Information
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drillholes:
easting and northing of the drill hole collar
elevation or RL (ReducedLevel – elevation above sea level in metres)of the drill hole collar
dip and azimuthof the hole
down hole lengthand interception depth
If the exclusion of this information is justified on the basisthat the information is not Material and this exclusion does not detractfrom the understanding
of the report,the Competent Person should clearlyexplain why this isthe case.
Refer to Appendix 1 for drillhole collar information
Data aggregation methods
In reporting Exploration Results, weighting averaging techniques, maximum and/orminimum grade truncations (eg cutting of high grades)and cut-off gradesare usually Material and should be stated.
Where aggregate intercepts incorporate short lengthsof high grade results and longer lengthsof low grade results, the procedure used for such aggregation shouldbe stated and some typicalexamples of such aggregations shouldbe shown in detail.
The assumptions used for any reporting of metal equivalent values should be clearly stated.
Intervals reportedusing several samplesare calculated using a weighted average.
Calculated intervals using a weighted average did not use a top cut on high-grade samples. High-grade samplesare reported as ‘including’
Calculated weightedaverage intervals are continuous intervals of a mineralized zone and do not includeunsampled intervals or unmineralized intervals.
Relationship between mineralisatio n widths andintercept lengths
Theserelationships are particularly important in thereporting of Exploration Results.
If the geometryof the mineralisation with respectto the drill hole angle is known,its nature shouldbe reported.
If it is not known and only the down hole lengthsare reported, thereshould be a clear statement to this effect(eg ‘down hole length, true width not
In general,drilling is designed to intersect the mineralized zone at a normal angle,but this is not always possible.
For the reported intervals, true widths are reported where mineralized core was intactand possible to measure the orientation. Otherwise the true widthis leftblank
Appropriate maps and sections (with scales) and tabulations of intercepts shouldbe included for any significant discovery being reportedThese should include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional views.
Refer to maps withinannouncement for drillhole locations.
JORC Code explanation
Eocene extensional faulting along the MarshallCreek, Mission Ridge and Quartz Mountain faults.
JORC Code explanation
Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widthsshould be practiced to avoid misleading reporting of Exploration
Where broaderlow-grade intervals are reported the high-grade intercepts are reported as ‘including’ within the reported interval
Other substantive exploration data
Other exploration data, if meaningful and material, shouldbe reported including (but not limitedto): geological observations; geophysical survey results;geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating
Tempus recently completed an airborne magnetic and radiometric survey over the Elizabeth Gold Project (refer to ASX announcement 02 August 2021) by completing 97 lines for a total of 735 line-kilometres. Flight lines are oriented east-west with north-south tie lines and spaced 200 metres across the entire 115km2 Elizabeth property. Line spacing of 100 metres was flown over the Elizabeth Main and Elizabeth East Zones.
The airborne magnetic survey data was reviewed and interpreted by Insight Geophysics Inc. using 3D magnetization vector inversion (MVI) modelling.
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 / 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.
This interpretation of the Blue Creek Porphyry is also extensive at depth extending to at least 2km deep
The nature and scale of planned furtherwork (eg testsfor lateral extensions or depth extensions or large- scale step-out drilling).
Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drillingareas, provided this
information is not commercially sensitive.
Tempus plans to updatehistorical NI43-101 foreignresource estimates to current NI43-101 and JORC 2012 standards
Tempus is also seekingto expand the scale of the mineralisation at the projectthrough further exploration.