Tempus progresses exploration towards maiden JORC resource
Tempus Resources Ltd (ASX:TMR) has provided an update on the progress of diamond drilling at the Blackdome-Elizabeth Gold Project located in British Columbia, Canada.
The company is focused on verifying and expanding the historical high-grade Mineral Resource at the project by drilling extensions to existing mineralisation and other high priority targets within the 350 square kilometre licence area that remains relatively unexplored.
Tempus also intends to utilise the existing permitted mill, tailings dam and other infrastructure at Blackdome with the aim of recommencing production as the project proceeds.
Given the presence of gold and silver mineralisation identified during previous exploration, this is a highly anticipated drilling program, particularly at a time when the gold price is close to its record high and the silver price remains buoyant.
Drilling operations are progressing smoothly, with a total of eleven holes spanning 2165 metres completed to date.
Management has focused on the Giant Vein, No.17 vein and the Redbird vein at Blackdome.
As can be seen below, these are located in the northern region of the project.
Gold and silver mineralisation intersected
Geological logging indicates that in all holes drilled so far the alteration zones and veins that based on historical exploration results are expected to host gold and silver mineralisation have been intersected.
Managing director, Brendan Borg is keen to see the imminent assay results saying, “Its very pleasing to see the same veining and alteration in our holes drilled to date that in the past were associated with gold and silver mineralisation at Blackdome.
‘’We very much look forward to receiving the assays back for these initial holes.”
The first five holes at the northern end of the Giant Vein have been cut and sampled and dispatched to the SGS laboratory in Vancouver for analysis with results expected within the next two weeks.
Exploration results to contribute to maiden JORC resource
A further batch of samples from holes BD-20-06 to BD-20-09, drilled at the Redbird and No.17 veins are expected to be dispatched to the laboratory at the end of this week.
Additional sampling of historic core from the Blackdome Project has also commenced, focusing on prospective zones within the deposit that was not sampled previously, but are expected to contain additional low to medium grade gold mineralisation associated with and surrounding the higher-grade central vein portions that were routinely sampled in the past.
Assays from these holes are expected to provide further new data for inclusion in a maiden JORC compliant Mineral Resource, a milestone that may potentially be a significant share price catalyst.
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.
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.