Tempus ready to drill in April after receipt of water permit
In a development that will pave the way for Tempus Resources Ltd’s (ASX:TMR) upcoming drilling campaign at the group’s Rio Zarza concession, the company has received a water permit for the project, the most advanced of its Zamora Projects in southern Ecuador.
The permit allows the Tempus to use water for advanced exploration, including drilling, and provides a clear path for the company’s initial drilling program at the prospect, located immediately adjacent to the world class Fruta del Norte gold mine, that has recently entered production for Lundin Gold (TSX:LUG).
The following map shows close proximity to the Fruta del Norte gold mine.
Drilling campaign expected to commence in April
Final results and data products from the recently completed detailed geochemical and airborne geophysical surveys are expected in the coming week.
These will be used by management to refine and prioritise holes for the upcoming drilling program.
Tempus is in the process of evaluating tenders submitted for the upcoming drilling campaign, with the program scheduled to commence in April, 2020.
Underlining the significance of these developments, managing director Brendan Borg said, “We are pleased to have successfully navigated the permitting process for Rio Zarza, allowing us to get on with implementing our much anticipated and exciting drilling program in a highly prospective part of Ecuador.”
Indeed, the upcoming drilling campaign has attracted plenty of interest with strong trading in the company’s shares over the last month as they increased from about 18 cents to 25 cents, a gain of nearly 40%.
With the gold price just experiencing its strongest weekly gain since mid-2019, the timing of Tempus’ drilling campaign couldn’t be better.