Milestone drilling set to commence at Tempus Resources’ Canadian gold play

By Jonathan Jackson. Published at Jun 29, 2020, in Mining

Tempus Resources (ASX:TMR) is set to commence diamond drilling at its Blackdome-Elizabeth Gold Project in Canada.

This will be a significant program as it is the first drilling to be undertaken since 2011 at the high-grade, past producing project. Tempus will test extension along strike at both the Blackdome and Elizabeth sites.

This low risk, high producing, high grade mine in British Columbia comes with a ~300,000 ounce resource.

Previous economic studies on Blackdome-Elizabeth were conducted when the gold price was just US$950 dollars per ounce. Today gold is trading at approximately US$1,700/oz.

Tempus has appointed British Columbia based Full Force Diamond Drilling Ltd to undertake the program, which will consist of approximately 8500 metres of drilling.

Full Force has conducted previous drilling programs at Blackdome-Elizabeth, and as such are familiar with the Project.

Full Force is expected to mobilise equipment to the Project within the next four weeks, once Tempus has received final approval for its Notice of Work for Blackdome, which is expected during the coming 2-3 weeks.

The planned program will commence at Blackdome and consist of an initial 2,500 metres of diamond drilling.

This first phase will focus on verifying and expanding the existing high-grade historical NI43-101 Mineral Resource.

The Blackdome program will also include trenching and drilling over significant gold in soil anomalies to the northeast of the known Blackdome mineralisation, and resource definition drilling on a new mineralised vein discovered in the last drilling program at the Project.

Once drilling is completed at Blackdome, equipment will move to the Elizabeth sector of the Project.

It is here where the remaining 6,000 metres of diamond drilling will focus on verifying and expanding upon the existing high grade historical NI43-101 Mineral Resource.

Extensions to the known mineralisation at Elizabeth are being targeted along strike, supported by gold in soil anomalies, as well as at depth. The new significant gold in soil anomaly was discovered 2.5km to the east of Elizabeth in 2019 and Tempus will test it for the first time.

Tempus is seeking a similar extensive mesothermal vein hosted gold system to that seen at the nearby prolific Bralorne Gold Camp, which historically produced approximately 4.2 million high grade ounces.

Ecuadorian gold play also progressing well

Early this month, Tempus released new data that has defined a high priority gold target at its Rio Zarza licence area in southern Ecuador.

This is highly significant as the Rio Zarza Project is located directly adjacent to the world-class producing Fruta del Norte gold mine, the most valuable greenfields gold discovery of the last 15 years operated by the $2.8 billion capped Lundin Gold (TSX: LUG).

Based on the interpreted geophysical data and new assay information, three proposed new drill holes have been designed to explore the potential of a gold mineralised body underneath and beyond the current drilling at Rio Zarza.

Drilling at Rio Zarza is planned for the December quarter following the easing of international and domestic travel restrictions.


Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


SEE THE PORTFOLIO

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X