Tempus completes Phase I exploration program in Ecuador
Tempus Resources Limited (ASX:TMR, TSX.V: TMRR) this week announced the completion of the Phase I exploration program at its Valle de Tigre II Project located in southeastern Ecuador
The Phase I sampling program consisting of 167 soil samples, 20 stream sediment samples and 9 rock samples.
Completed by field crews, all samples have now been sent to SGS del Ecuador, in Guayaquil, where they will be prepared before being sent to SGS del Peru for analysis.
During the sampling program, Tempus geologists identified coarse gold in streams using traditional panning methods with up to 11 gold grains in one pan along with several artisanal gold workings in the sampling area.
Rock samples proximal to these gold workings contained sulphide veins with visible pyrite-chalcopyrite-bornite within altered sandstone and granitic rocks.
The gold mining activities at VdT appear to be along mineralised structures which are coincident with strong conductive anomalies identified in the airborne ZTEM geophysical survey.
Commenting on the assay results, Tempus CEO/President Jason Bahnsen said, “We look forward to receiving the assay results from the 198 samples in this initial program.
“The presence of both visible gold and copper mineralization during the field work is very encouraging and together with the geophysical anomalies suggest the potential for both gold and copper porphyry mineralization within the project area.
“Valle del Tigre II is situated in the heart of the Cordillera del Condor mineral belt of southeast Ecuador with the Mirador porphyry copper mine to the north and the Fruta del Norte gold project to the south.”
Valle del Tigre II Project
The Valle del Tigre II project is a grassroots-stage exploration project in the highly prospective Cordillera del Condor mineral belt of southeast Ecuador.
The Valle del Tigre II boundary is situated approximately 2.5 km northwest of Lundin Mining’s, Fruta del Norte, epithermal Au-Ag deposit (7.35 M oz Au @ 9.61 g/t Indicated Resource) and approximately 15 km southwest of the Mirador Cu-Au porphyry deposit (3.2 Mt Cu, 3.4 Moz Au, and 27.1 Moz Ag in proven and probable reserves) owned by CRCC-Tongguan Investment Co., as shown below.
The property is underlain by the same sedimentary and volcanic rock sequence and lies within the same structural corridor as Fruta del Norte (FdN).
Due to the impact of COVID-19 global pandemic over the past year, the Ecuadorian Presidential elections and the recent exploration results, Tempus has placed previous strategic discussions regarding the Rio Zarza project on hold for the present time.
Tempus is currently not planning to complete any drilling on the Rio Zarza Project during the 2021 year.
The Tempus exploration activities in Ecuador during 2021 will focus on the identification and development of drill targets at Valle del Tigre II to complement the drill ready Rio Zarza project.
The company is encouraged by the potential of its Valle Del Tigre II and Rio Zarza exploration projects in Ecuador and believe these projects will generate significant value for Tempus shareholders.