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Tempus ready to drill high grade gold target in British Columbia
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Shares in Tempus Resources (ASX:TMR) were up more than 10% in the first hour of trading after the company provided an update on field activities at the Blackdome-Elizabeth Gold Project in British Columbia, Canada.
The relatively unexplored licence area spans 350 square kilometres, and Tempus also intends to leverage the existing permitted mill, tailings dam and other infrastructure at Blackdome with the aim of re-commencing production as the project proceeds.
A key driver of interest in the company is the much anticipated maiden drilling program which will target high grade mineralisation that has previously been identified.
The program of approximately 8,500 metres of diamond drilling is aimed at verifying and expanding upon the historic high grade mineral resource at the Blackdome and Elizabeth sectors of the project, and this campaign is expected to run until at least October.
Given the company’s focus on projects in Canada and Ecuador, its planned listing on the TSX Venture Exchange (TSXV) in Canada is being rapidly progressed.
The required initial application has been submitted, and Tempus is targeting listing in the December quarter.
This will be an important development for the group as it will give it increased access to capital in a region that is familiar with mining projects in areas such as those where Blackdome-Elizabeth is located.