Metallic Assays Increase Elizabeth Gold Results

2021-10-11 04:03:24

HIGHLIGHTS

  • A 31% average increase in gold assay grades for previous high-grade results that were assayed using screened metallic analysis, more applicable to deal with coarse gold
  • Bonanza grade interval from drill-hole EZ-21-04 re-assayed at 68.3g/t over 1.50m from 123.00m vs. prior reported intersection of 52.1g/t
  • Grade increases will be beneficial in future Mineral Resource estimate preparation
  • Drilling continues at Elizabeth (34 drill-holes for ~8,600 metres completed to date)

PERTH, AUSTRALIA / ACCESSWIRE / October 11, 2021 / Tempus Resources Ltd (“Tempus” or the “Company“) (ASX:TMR)(TSX.V:TMRR)(OTCQB:TMRFF) is pleased to announce results from screened metallic analysis of selected intervals from recent Elizabeth Gold Project drill-holes: EZ-21-01; EZ-21-04; EZ-21-05; EZ-21-06; EZ-21-07B; and EZ-21-08, where the results show an average increase in gold grade of approximately 31% when compared directly against the originally published assay results based on standard fire assay analysis (see Table 1).

Screened metallic analysis was completed in consultation with the lab (SGS Canada Inc.) due to the observation that Elizabeth gold mineralisation includes course-grained gold and assays completed using the standard fire assay method may have been underrepresenting grade, or otherwise less accurate than screened metallic analysis due to the ‘nugget effect’. Screened metallic re-assaying was considered particularly vital to test the accuracy of the very high, ‘bonanza grade’ assays received to date.

The more accurate screened metallic analysis resulted in a significant increase in assay grades. The best example of this is from drill-hole EZ-21-04 where 52.1g/t gold over 1.50m from 123.00m was initially reported (see Tempus announcement of 10 August 2021) and is now confirmed to be 68.3g/t gold over the same interval. The core interval of EZ-21-04 is shown in Figure 1 (below). Table 1 (below) shows the screened metallic analysis results received to date for six holes (EZ-21-01; EZ-21-04; EZ-21-05; EZ-21-06; EZ-21-07B; and EZ-21-08) compared to their prior reported standard fire assays. The location of relevant drill-holes is shown in Figure 2 and Figure 3 (below).

Tempus President and CEO, Jason Bahnsen commented The screened metallic analysis results take the ‘high-grade’ nature of the Elizabeth story even further. We have several more screened metallic analysis results pending. Drilling also continues on site and we are now focussing on defining the potential new vein parallel to the South West Vein, identified with visible gold in drill-hole EZ-21-12 that was announced on September 2.”

Values received from screened metallic analysis will supersede the original assay results and based on information gained to date, are expected have a positive impact on overall grade and scale when calculating an updated Mineral Resource estimate. Tempus technical staff will continue to use screened metallic analysis on quartz vein zones where higher gold grades are expected.

Figure 1 – EZ-21-04 drill core showing gold grades from screened metallic analysis

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Table 1: Comparison of gold grades between screened metallic and original standard fire assay results.

The Elizabeth Gold Project is the flagship project for Tempus and is located in the Bralorne-Pioneer Gold District of southern British Columbia. The 115km 2 project is a relatively underexplored high-grade mesothermal gold project with mineralisation presenting itself in vein sets which range in true width from 1 m to 6.5 metres. The high-grade quartz veins encountered in the drilling at Elizabeth show close geological similarities to the Bralorne-Pioneer mesothermal vein system (approximately 30km away), which was mined to a depth of approximately 2,000 metres and produced more than 4 million ounces of gold over a period of more than 70 years (from approximately 1900 to 1971).

To date, Tempus has completed approximately 8,600 metres of drilling (of the total announced Phase 1 drill program of 12,000 metres) since the program started in November 2020. In total, Tempus has completed 34 diamond drill holes at Elizabeth (11 holes completed in 2020, 23 holes completed in 2021 to date). Drill collar information can be seen in Appendix 1, Table 1. There are currently eleven drill holes pending assay results.

Figure 2 – Elizabeth drill plan map

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Figure 3 – Elizabeth Cross Section

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Competent Persons Statement

Information in this report relating to Exploration Results is based on information reviewed by Mr. Kevin Piepgrass, who is a Member of the Association of Professional Engineers and Geoscientists of the province of BC (APEGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Piepgrass has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person for the purposes of NI43-101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears.

For further information:

TEMPUS RESOURCES LTD
Melanie Ross – Director/Company Secretary Phone: +61 8 6188 8181

About Tempus Resources Ltd

Tempus Resources Ltd (“Tempus”) is a growth orientated gold exploration company listed on ASX (“TMR”) and TSX.V (“TMRR”) and OTCQB (“TMRFF”) stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador. The Rio Zarza project is located adjacent to Lundin Gold’s Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.

Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus’ actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed on Page 37 under the heading “Risk and Uncertainties” in the Company’s Management’s Discussion & Analysis for the quarter and year ended June 30, 2021 dated September 24, 2021 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .

Appendix 1

Table 1: Drill Hole Collar Table

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Appendix 2:

The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of Exploration Results for the Blackdome-Elizabeth Gold Project

Section 1: Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)

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Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)

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SOURCE: Tempus Resources Ltd

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