Tempus to drill three new holes at Rio Zarza

By Trevor Hoey. Published at Jun 9, 2020, in Mining

Tempus Resources Ltd (ASX:TMR) has provided an update on the company’s Zamora Projects in southern Ecuador.

The Rio Zarza Project is located directly adjacent to the world-class producing Fruta del Norte gold mine, operated by Lundin Gold (TSX:LUG).

A helicopter-borne geophysical survey over all of the Zamora Project concessions was completed in late December 2019.

The survey was flown at 200 metre line spacing for a total of approximately 600 line-kilometres. It included ZTEMTM (Z-Axis Tipper Electromagnetic) which provided superior exploration depth and high resolution, as well as excellent resistivity discrimination.

Managing director, Brendan Borg was pleased with the survey results, particularly in terms of their alignment with exploration initiatives undertaken, and on this note he said, “The results of the geophysical survey interpretation are very encouraging in their own right, with the acquisition of previously unreported assay results showing anomalous gold and silver close to the interpreted geophysical target further enhancing the case for drilling at Rio Zarza.”

New assays from 2011 drilling prove promising

The last drilling to be completed on the Rio Zarza Project was in 2011, and the final three holes from this program, namely RZDDH11-07, RZDDH11-08 and RZDDH11-09 were completed without assays being released by the laboratory.

RZDDH11-07 was of particular interest, being a deeper hole, and exhibiting epithermal banded/colloform quartz clasts in the Suarez Formation conglomerate, the geological unit which overlies and flanks Fruta del Norte gold mineralisation.

Previously unreleased assays from the final three drill holes from the last drilling in 2011 have now been received.

The assays from the hole of primary interest, RZDDH-11-07, exhibited a zone anomalous in gold, silver, copper, manganese, lead and zinc over the final 19.1 metres of the hole.

Two intervals of highly anomalous gold and silver have been identified within this broader 19.1 metre interval as indicated below.

The epithermal banded/colloform quartz clasts indicate proximity to an eroded hydrothermal vein system.

The presence of clasts restricted to the lower Suarez Formation is one factor that led to the original discovery of Fruta del Norte.

Tempus engaged geophysical consultants to provide an assessment of the helicopter survey data, and if appropriate, to recommend targets for drill testing.

As indicated below, a significant resistivity anomaly in which the Fruta del Norte deposit is hosted extends to the west and below the current extent of drilling at Rio Zarza.

The shape of the anomaly is interpreted to most likely represent more than one body.

Three drill holes planned

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.

The first, and highest priority of these holes, will be a direct extension of drill hole RZDDH11-07, with a planned total depth of 1,375 metres.

The two additional holes are proposed to be along strike of, and/or deeper into the prospective interpreted geological unit, and will be adjusted based on the results of the first hole.

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

In the meantime, management plans to undertake further modelling of the data from the geophysical survey, including 2D inversion of the gravity data, to better define the location and inclination of the potential ore-bearing structures.

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.

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