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Tempus Resources Ltd
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Tempus Resources plans 2022 exploration at Elizabeth

2022-03-29 11:13 ET - News Release

Mr. Jason Bahnsen reports


Tempus Resources Ltd. has released the 2022 exploration plan for the Elizabeth gold project located in Southern British Columbia.

Tempus President and CEO, Jason Bahnsen, commented "The 2022 exploration program at Elizabeth will focus on further delineation of the new Blue Vein and the expansion of the overall mineralisation for the project in advance of preparing a resource estimate. We have executed a contract with our drilling contractor, Full Force Drilling, and we plan to begin mobilisation to the site in May with drilling targeted to begin early June."

Elizabeth Gold Project - 2022 Exploration Program

The 2022 exploration program at Elizabeth will build on the success of the 2021 drill program and focus on expansion of the overall resource for the project.

A total of 28 drill diamond core drill holes (approximately 7,820 metres) were completed at the Elizabeth Gold Project in 2021. Combined with drilling completed in 2020, Tempus has now completed 39 drill holes (approximately 9,826 metres) in total on the Elizabeth Gold Project.

In 2022, Tempus is planning to complete an additional 25-30 diamond core drill holes (approximately 8,500 metres) at the Elizabeth Gold Project. The key target areas in the 2022 drill program include the Blue Vein, West and Main Veins, the Ella Zone.

The overall exploration drilling strategy for the Elizabeth Project is focused on increasing the size and confidence level of the historic inferred resource of approximately 206,139 ounces of contained gold (522,843 tonnes @ 12.26 g/t gold - SRK 2009). Apart from a few infill drill holes intended to convert inferred resources to the indicated category, the majority of the drill holes completed by Tempus to intersect the gold vein structures are outside of the 2009 resource block model.

The results of the 2022 drill program will contribute to the completion of an updated NI43-101 Resource estimate for the Elizabeth Project.

The Company is not currently planning to do any exploration field work at the Blackdome Gold Mine in 2022.

Blue Vein

The Blue Vein is located approximately 150 metres to the northwest, near vertical in dip, and parallel,to the SW Vein (See Figure 1). This previously unknown vein has now been intersected by 7 drill-holes (EZ-21-09, EZ-21-12, EZ-21-19, EZ-21-24, EZ-21-25, EZ-21-26, EZ-21-27) demonstrating an initial strike length of 380 metres (see Figure 3). The Blue Vein structure has been intercepted to approximately 100 metres depth and remains open along strike and down dip. (See Figure 1, Figure 3).

Three of the seven drill holes completed at Blue Vein intersected grades of greater than 1 oz per tonne of gold. The high-grade mineralization at the Blue Vein has been delineated over an initial strike length of approximately 80 metres within the overall 380 metre of vein structure that has been identified through drilling.

Highlights from the Blue Vein drilling completed in 2021 include:

  • Drill hole EZ-21-12 with an intersection of visible gold returning 33.7 g/t gold over 1.0 metre from 117.8 metres
  • Drill hole EZ-21-25 with an intersection of quartz veining that assayed 13.4 g/t gold over 2.7 metres from 111.0 metres including 71.3 g/t gold over 0.50 metres from 111.5 metres
  • Drill hole EZ-21-26 intersected 9.13 g/t gold over 1.25 metres from 121.5 metres, including 45.1 g/t gold over 0.25 metres from 121.5 metres
  • Drill hole EZ-21-27 intersected 14.3 g/t gold over 1.4 metres from 152.2 metres, including 19.2 g/t gold over 1.00 metres from 152.2 metres

The strike distance of high-grade results from the Blue Vein between drill-holes EZ-21-27 and EZ-21-25 is approximately 80 metres and encompasses the discovery hole EZ-21-12 and EZ-21-26 (See Figure 3). Assay grades for these holes range from 9.13 g/t gold to 71.3 g/t gold over widths ranging from 0.50 m to 2.70 metres. These results show the continuity of the high grades within the Blue Vein over a strike distance of more than 80 metres. The Blue Vein structure has been identified over a total strike length of 380 metres.

The 2022 drill program will target the southern and northern extension to the current high grade gold mineralisation. A total of 15 drill holes are planned that target the Blue Vein (see Figure 3).

South West Vein

Tempus has completed a total of twenty three (23) drill holes that have intersected the South West Vein (SW Vein). The gold mineralisation of the SW Vein has now been defined to extend approximately 400 metres in strike and up to 200 metres in depth. The SW Vein remains open at depth and along strike.

The drilling results to date are showing consistent structure. Tempus has drilled deeper at Elizabeth than any of the historic drilling completed on the project. The deep intersections of the SW Vein are encouraging and geologically very significant as the vein continues at depth, as does the alteration and associated mineralization as identified in other high-grade intercepts from the SW Vein. This mineralization at depth is consistent with typical Mesothermal/Orogenic gold deposits, such as the Bralorne-Pioneer Gold mine 30km to the south of Elizabeth and is confirmed with the ICP-OES assay analysis which indicates elevated arsenic, antimony, silver, and mercury when intersecting the SW Vein at depth.

Significant intersections from the SW Vein include:

  • EZ-21-04 - 31.2 g/t gold over 4.00m from 122.0m, including;52.1 g/t gold over 1.50m from 123.0m, and including;72.0 g/t gold over 0.50m from 124.0m
  • EZ-20-06 - 61.3 g/t gold over 5.0m at from 116.5m, including186.0 g/t gold over 1.5m from 118.0m
  • EZ-20-10: 28.1 g/t gold over 3.2m from 184.0m, including178.0 g/t gold over 0.5m from 184.5
  • EZ-21-23 intersected a 4.10 m quartz vein zone at 1.83 g/t gold from 145.0m, including4.98 g/t gold over 0.70m from 147.5m.

Drilling completed in 2021, completes the initial phase of drilling on the SW Vein. Mineralisation remains open at depth and along strike. Tempus will plan to complete future drilling on the SW vein from the underground portal access that is pending permitting.

Main Vein / West Vein Zone

The Main Vein and the West Vein are largely unexplored and no drilling has been done to the southern extension of these vein structures.

Historic trenching at Elizabeth on the West Vein (above the West Vein underground drift) in 2003 returned 55.1 g/t gold over a strike length of 20.0m and 14.2 g/t gold over a strike length of 20.0m and from the Main vein (above the Main Vein underground drift). Note, historic trenching results are historic in nature and are not compliant with NI 43-101 standards and should not be relied upon and are to be used as a reference only.

In 2021, Tempus completed one drill hole intersecting the West Vein (EZ-21-05). The vein was intersected at 554.8m downhole depth with mesothermal type mineralization and anomalous gold. Drill hole EZ-21-05 was a sizable ~450m step out to the SW, along strike from any previous drilling on the West Vein.

Tempus is planning to complete ten (10) drill holes targeting the Main and West Veins in the 2022 exploration drill program at Elizabeth.

Ella Zone

In 2021, Tempus completed one exploration drill hole at the Ella Zone (EZ-21-21) targeting quartz veining identified from 2003 trenching in the area. This first drill hole in this target returned encouraging results with up to 1.03 g/t gold over 2.0m from 184.0m within a 4.0m veining zone. The geochemistry supports a mesothermal style mineralized vein with assay results retuning highly anomalous arsenic and antimony.

At least two drill holes are planned to target the Ella Zone in 2022 Elizabeth drill program.

Other Exploration Targets

The Elizabeth project is a multi-vein epithermal/orogenic system with historic ‘bonanza' grade intercepts in drill core and surface trenching. There are more than 9 known vein systems on the property hosting gold mineralisation.

There is potential for new vein discoveries north east of the Blue Vein and in the unexplored zone between the South West Vein and the West Vein (See Figure 1).

This announcement has been authorised by the Board of Directors of Tempus Resources Limited.

Competent Persons Statement

Information in this report relating to Exploration Results is based on information reviewed by Mr. Sonny Bernales, who is a Member of the Engineers and Geoscientists British Columbia (EGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Bernales 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. Bernales 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 Elizabeth-Blackdome Project, a high-grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Elizabeth-Blackdome 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.

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