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Tempus Resources Ltd
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Tempus Res reconfirms mineralization at Valle del Tigre

2022-06-07 12:56 ET - News Release

Mr. Jason Bahnsen reports


Tempus Resources Ltd. has released the results from the phase 2 sampling program at the Valle del Tigre project (VdT) located in southeastern Ecuador. The phase 2 program was a larger-scale follow-up to the initial reconnaissance work conducted during February, 2021, where areas with anomalous gold and copper were discovered (see Tempus's announcement dated March 25, 2021).

Results from the phase 2 sampling program reconfirm the presence of gold and copper mineralization at Valle del Tigre and show a direct correlation with the geophysical anomalies generated by the airborne geophysical survey (ZTEM) work that Tempus conducted on the project in 2019.

Tempus president and chief executive officer Jason Bahnsen commented: "The results of our phase 2 exploration program at Valle del Tigre highlight the potential of the project for both copper and gold mineralization. The MMI [mobile metal ion] soil geochemistry results have identified two strongly anomalous areas within the overall three-kilometre geophysical footprint that we will target for further exploration work. The VdT project is centrally located in a major copper porphyry mineralization trend that hosts several major copper deposits."

The phase 2 exploration program included a mobile metal ion (MMI) geochemistry soil sampling survey over an area of approximately five square kilometres, in addition to rock and stream sediment samples. In total, 505 MMI soil samples were collected, together with 53 rock samples and 48 stream sediment samples.

In 2019, Tempus conducted a ZTEM, magnetics and radiometrics helicopter-borne geophysical survey over the VdT licence area (see Tempus's announcement dated Dec. 15, 2019). The airborne geophysics defined two east-west-trending magnetic highs, which are transected by a strong northeast-trending ZTEM anomaly that extends for over three kilometres in length. At other regional copper porphyry projects, including Panantza, Mirador and Warintza, the copper mineralization occurs in east-trending zones with a similar orientation to the two magnetic anomalies that occur at VdT.

The phase 2 MMI soil, rock and stream sediment sample results have identified two anomalous areas that display good coincidence for copper, gold, molybdenum and bismuth. Chalcopyrite and bornite plus sericite and potassic alteration was observed within the sample area.

Tempus is currently completing further analysis and review of the geochemical and geophysical results with regard to next steps toward refining target locations for a future drill program.

Valle del Tigre is centrally located in a newly emerging copper porphyry belt that includes the El Hito and Santa Barbara deposits to the south (Lumina Gold) and the Mirador, Panantza and Warintza deposits to the northeast.

There are strong geological similarities between VdT and Warintza and Mirador with the Hollin formation unconformably overlying the Misahualli formation, which is underlain by the older Zamora batholith. Copper mineralization in the northern part of the copper district is associated with a younger intrusive phase of the Zamora batholith, which has been dated as upper Jurassic in age.

Quality assurance/quality control

All samples were collected by Tempus Resources under the supervision of Sonny Bernales, CPG, QP, who maintained chain of custody until delivery of the samples to SGS Laboratories in Lima, Peru, for preparation and analysis. SGS's facility in Lima, Peru, is accredited to the ISO 9001 standard for assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria.

The phase 2 exploration program was conducted between Jan. 30, 2022, to Feb. 23, 2022. In total, 505 MMI soil samples were collected, together with 53 rock samples and 48 stream sediment samples.

MMI soil samples

The MMI soil samples were collected on an approximate grid spacing of 200 metres by 50 metres (grid spacing irregular over some areas of extreme topography). In total, 505 MMI soil samples were collected with duplicates added on a ratio of one duplicate for every 50 samples.

The VdT soil samples were analyzed by SGS Laboratories in Lima, Peru, utilizing mobile metal ionic leach analysis for a 60-element suite. The key benefits to using partial ionic leach extraction for soil analysis compared with the industry-standard aqua regia digestion includes the following:

  • Fewer false anomalies are generated;
  • Anomaly better positioned directly above the mineralization;
  • Excellent element value repeatability at very low detection limits;
  • A better definition of metal zonation and complex metal associations;
  • More effective at detecting deeply buried mineralization;
  • Very low detection limits with low background noise;
  • Important pathfinder volatile elements are retained.

Rock samples

A total of 53 rock samples were collected during the phase 2 exploration program.

The rock samples were analyzed using SGS's FAA313 method for gold, that is, samples were crushed, split and pulverized to minus-200 mesh. Analysis for gold was completed using a 30-gram fire assay fusion and flame atomic absorption (trace grade) with a lower limit of five parts per billion for gold and upper limit of 10,000 parts per billion. Crushed and pulverized rock samples are weighed and mixed with flux and fused using lead oxide at 1,100 C, followed by cupellation of resulting lead button (Dore bead). The bead is digested using 1:1 HNO3 and HCl and the resulting solution is submitted for analysis. The digested sample solution is analyzed by flame atomic absorption spectrometer (AAS). Samples are analyzed against known calibration material to provide quantitative analysis of the original sample.

For multielements, 49 elements, including copper and silver, the method used was SGS's ICP40B, by four-acid digestion/ICP-AES and ICP-MS.

Stream sediment samples

A total of 48 stream sediment samples were collected during the phase 2 exploration program.

The same laboratory method as rock samples was used: FAA313 for gold and ICP40B by four-acid digestion/ICP-AES and ICP-MS for 49 multielements.

Competent person statement

Information in this report relating to exploration results is based on information reviewed by Sonny Bernales, who is a member of the Engineers and Geoscientists British Columbia (EGBC), which is a recognized professional organization (RPO), and an employee of Tempus Resources. Mr. Bernales has sufficient experience that is relevant to the style of mineralization 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 (JORC), and as a qualified person for the purposes of National Instrument 43-101. Mr. Bernales consents to the inclusion of the data in the form and context in which they appear.

About Tempus Resources Ltd.

Tempus Resources is a growth-orientated gold exploration company listed on the Australian Securities Exchange (under the symbol TMR), TSX Venture Exchange (under the symbol TMRR) and the OTCQB (under the symbol TMRFF). 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 NI 43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in southeast Ecuador. The Rio Zarza and Valle del Tigre projects are in an early stage of exploration and are prospective for gold and copper mineralization.

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