More Visible Gold at Elizabeth - New Vein Discovery
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More Visible Gold at Elizabeth - New Vein Discovery

Monday, September 27, 2021 7:00 AM
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Company Update
Tempus Resources Ltd

PERTH, AUSTRALIA / ACCESSWIRE / September 27, 2021 / Tempus Resources Ltd (" Tempus " or the " Company ") (ASX:TMR)(TSXV:TMRR)(OTCQB:TMRFF) is pleased to announce that visible gold has been logged in drill-hole EZ-21-12 approximately 150 metres to the northwest of the SW Vein, indicating the discovery of a new, previously unknown gold-bearing vein, together with the release of assays for four additional drill-holes (EZ-21-05, EZ-21-06, EZ-21-07B and EZ-21-08) from the ongoing 2021 drilling program at its Elizabeth Gold Project in Southern BC, Canada.

HIGHLIGHTS

  • Visible gold identified in drill-hole EZ-21-12, 150m to the northwest of the SW Vein, highlighting the potential existence of a new, previously undiscovered gold vein zone
  • Assays received from four additional diamond drill-holes (EZ-21-05, EZ-21-06, EZ-21-07B and EZ-21-08), with highlights including 1.0m at 4.9g/t gold from 40.1m and 0.7m at 9.1g/t gold from 51.5m in EZ-21-7B
  • 20 drill-holes now completed so far at Elizabeth with multiple assays pending:
    • Assays for first eight holes (including the four being reported today) are reported
    • Another 11 holes are at the lab, including assays submitted as far back as August
    • Current drill hole is being logged and samples prepared for despatch to the lab in a subsequent sample batch
  • Diamond drilling continues to demonstrate the SW Vein extends down dip and along strike -all extensional holes drilled appear to intersect quartz vein

CEO, Jason Bahnsen commented "When we get visible gold at Elizabeth, it can lead to ‘bonanza' grade intersections as we've seen with previous holes announced from this years' drilling. However, what's more exciting about the visible gold in drill-hole EZ-21-12 is that its approximately 150 metres northwest of our SW Vein zone so it indicates the discovery of a previously unknown new gold vein zone at Elizabeth" 

Visible gold was identified in drill core from drill-hole EZ-21-12 within a 1.0-metre-wide quartz vein from 118.50m down-hole depth. The 1.0m quartz vein is within a larger observed alteration and veining zone from 107.65 - 120.35m. This new gold-bearing vein is a new discovery at Elizabeth located approximately 150 metres to the northwest of the SW Vein. It is very encouraging to discover an additional vein/structure at Elizabeth as it continues to demonstrate a larger orogenic vein system where we are recognizing regularly spaced mineralized quartz vein zones at approximately 150 metre intervals, over a width of over one kilometre. The focus of drilling to date has been on the SW Vein however, substantial potential exists along this new vein as well as the other under explored veins at the project. Figure 1 (below) shows a photograph of the core interval from EZ-21-12 containing visible gold and Figure 2 and Figure 3 (below) shows where the interval occurred in cross section and plan view relative to the known SW Vein.

The four drill-holes (EZ-21-05, EZ-21-06, EZ-21-07B and EZ-21-08) were drilled at the northern end of the northern ore shoot at Elizabeth, with all of them intersecting gold mineralisation. They're all indicative of mesothermal/orogenic mineralisation and are consistent with the high-grade gold zones from previously reported drill-holes EZ-20-06 (5.0m at 61.3g/t gold from 116.5m, including 1.5m at 186.0g/t gold from 118.0m) and EZ-21-04 (4.00m at 31.2g/t gold from 122.0m, including 1.50m at 52.1g/t gold from 123.0m and 0.50m at 72.0g/t gold from 124.0m).

Significant mineralised intersections from the four drill-holes being reported in this announcement include:

  • EZ-21-7B:
    • 1.00m at 4.88g/t gold from 40.10m,
    • 0.70m at 9.06g/t gold from 51.50m, and;
    • 5.75m at 0.53g/t gold from 165.75m
  • EZ-21-06:
    • 1.50m at 1.28g/t gold from 134.50m, and;
    • 1.00m at 2.05g/t gold from 245.00m
  • EZ-21-08:
    • 6.15m at 0.65g/t gold from 196.25m

Tempus technical staff continue to be encouraged by the consistent and continuous nature of the SW Vein structure as it continues at depth and along strike.

The Company is awaiting the screen metallic results of select intervals from the first eight holes of 2021 (including the four being reported today). Screen metallics analysis is a technique used for core with coarse grained gold and are considered to increase accuracy for measurement of gold in core where coarse-grained gold occurs. These values will be reported when made available to Tempus. The Elizabeth Gold Project is the flagship project for Tempus and is located in the Bralorne - Pioneer Gold District of southern British Columbia. The 115km2 project is a relatively underexplored high-grade mesothermal gold project with mineralisation presenting itself in vein sets which range in true width from 1 m to 6.5 metres. The high-grade quartz veins encountered in the drilling at Elizabeth show close geological similarities to the Bralorne-Pioneer 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 more than 70 years (from approximately 1900 to 1971).

The overall exploration drilling strategy for the Elizabeth Project is focused on increasing the size and confidence level of the historic inferred resource of approximately 206,139 ounces of contained gold (522,843 tonnes @ 12.26 g/t Au - SRK 2009). Apart from a few infill drill holes intended to convert inferred resources to indicated, the majority of the drill holes completed and planned by Tempus to intersect the gold vein structures outside of the 2009 resource block model.

To date, Tempus has completed approximately 8,300 metres of drilling (of the total announced Phase 1 drill program of 12,000 metres) since the program started in November, 2020. In total, Tempus has completed 32 diamond drill-holes at Elizabeth (11 holes completed in 2020, 20 holes completed in 2021 to date). Drill collar information can be seen in Appendix 1, Table 1. There are currently eleven drill holes pending assay results.

Figure 1 - EZ21-12 Drill Hole Visible Gold

Figure 2 - Elizabeth Cross Section

Figure 3 - The Elizabeth Project - Plan Map of Drilling

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 risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed on Page 37 under the heading "Risk and Uncertainties" in the Company's Management's Discussion & Analysis for the quarter and year ended June 30, 2021 dated September 24, 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.

Appendix 1

Table 1:Drill Hole Collar Table

Table 2: Significant Interval Table 
*true thickness is estimated using a multiplier of 0.85.

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.)

SOURCE: Tempus Resources Ltd.

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