Tempus Resources rallies in lead up to Ecuadorian drilling
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Tempus Resources is up 24% intraday on no apparent news as the company prepares to commence a significant drilling program at its Rio Zarza Project in Ecuador that’s set to kick off in March.
The Rio Zarza Project is one of two projects, along with Valle del Tigre, that make up the Zamora Gold Projects in Ecuador. But this is just one of the $10 million company’s projects, along with its newly acquired 100% interest in the Blackdome-Elizabeth and Mineral Creek Gold Projects located in the Tier-1 jurisdiction of British Columbia, Canada.
But with drilling set to commence next month, the Rio Zarza Project is the current focus.
All that’s required now, prior to drilling, is a water permit which is expected to be approved in coming weeks.
The Rio Zarza Project comprises two concessions covering approximately 1,000ha, directly adjacent to C$2.6 billion Lundin Gold’s (TSE:LUG) Fruta del Norte tenements — the most valuable greenfields gold discovery of the last 15 years.
Fruta del Norte was first discovered in 2006, by the previously Toronto-listed, Aurelian Resources. The discovery and its estimated 13.7Moz of contained gold and 22.4Moz of contained silver saw Aurelian’s share price lift from circa C$0.30 to over C$40 per share.
Rio Zarza’s eastern boundary is just 850m west of the Fruta del Norte deposit and shows similar geology and alteration. Fruta del Norte hosts strikingly similar geochemistry, alteration and geological features to the Tempus’ Ecuadorian project.
Limited exploration was undertaken at Rio Zarza between 2008 and 2012, including surface magnetics, IP, gravity surveying, soil/stream sampling, mapping and limited diamond drilling.
This exploration did delineate a number of targets, the majority of which were situated in the eastern part of the property. However, this was done without modern equipment leading to a lack of geological understanding, suggesting that further exploration could prove fruitful.
Tempus Resources’ second asset, the Blackdome-Elizabeth and Mineral Creek Gold deposits in Canada, is a significantly de-risked project with a history of past production. The project has demonstrated excellent metallurgical recoveries and key approvals and permits are in place.
Furthermore, with solid infrastructure, this project provides Tempus with a pathway for a low cost, fast-track re-start.
Like Rio Zarza, the Blackdome and Elizabeth projects are in close proximity to producing mines. Blackdome-Elizabeth lie just 35 kilometres northeast of past producing Bralorne Gold Mine and the Mesothermal type vein system is analogous with Bralorne, which was mined to ~2,000 metres.
Bralorne, which was recently acquired by Tallisker Resources, has a long production history, having produced 4.2 million ounces of gold at a grade of 17.7 g/t largely between 1928 and 1971.
Today’s ~25% rise in TMR shares could be attributed to a comprehensive article on the company from the Next Mining Boom, that highlighted the impressive nearology of the company’s assets, or it could just be that the market is looking ahead to the pending approval of the water permit and upcoming drilling program at its Rio Zarza Project in March.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
