09:36:24 EST Wed 07 Dec 2022
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Tempus Resources Ltd
Symbol TMRR
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Close 2022-08-15 C$ 0.06
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Tempus Resources hits visible gold at Elizabeth

2022-08-15 09:54 ET - News Release

Mr. Jason Bahnsen reports


Tempus Resources Ltd. has intersected wide zones of mineralization containing visible gold in two drill holes targeting the No. 9 vein (EZ-22-19 and EZ-22-20) at the Elizabeth gold project in Southern British Columbia, Canada.


  • Tempus's first-ever holes drilled into No. 9 vein at Elizabeth gold project (EZ-22-19 and EZ-22-20) have both hit multiple intersections of visible gold.
  • Current drilling has intersected zones of quartz veining up to 25 metres in width at No. 9 vein with multiple grains of visible gold observed at various intervals.
  • No. 9 vein is a previously mapped vein, approximately 120 metres northwest of Blue vein, but it had never been drilled by Tempus.

Tempus Resources president and chief executive officer Jason Bahnsen commented: "The visual indication of wide zones of mineralization containing visible gold in both of our first drill holes completed on No. 9 vein is extremely encouraging. The No. 9 vein has been subject to little exploration since it was discovered. With the addition of No. 9 vein to Blue vein and SW vein we now have three closely spaced veins under development at Elizabeth. We are anxiously awaiting the assays."

The No. 9 vein is a previously mapped vein approximately 120 metres northwest of the Blue vein. Some limited exploration had been performed on the No. 9 vein in the 1940s and 1950s. However, records available to Tempus were not conclusive and the company had never drilled the vein until these first two holes recently completed. Based on the exciting progress from EZ-22-19 and EZ-22-20, Tempus plans to complete five drill holes on the No. 9 vein this drilling season.

The mineralization observed in the drill core is summarized below.

DDH EZ-22-19

Drill hole EZ-22-19 was completed to a depth of 201 metres and intersected two quartz veins.

  • From 135.67 to 137.5 m (1.83 downhole metres): brecciated/sheared light greyish white quartz vein; the breccia matrix is consisting of strong pyrite and arsenopyrite with grains of visible gold observed in the vein and at the contacts;
  • From 162.92 to 163.42 m (0.50 downhole metre): light pinkish white quartz vein with moderate pyrite and arsenopyrite stringers.

DDH EZ-22-20

EZ-22-20 was drilled on the same azimuth as EZ-22-19 (284 degrees) but at a steeper dip (67 degrees) to target the vein below the two quartz veins intercepted in EZ-22-19.

EZ-22-20 was drilled to a total depth of 270 m. The hole intercepted a 25.75 m zone of sheeted veins from 85.50 m and a second quartz vein intersection of 2.25 m from 206.45 m.

  • The core is highly broken and oxidized to depth of 113 m. The veinlets are very irregular (generally 10 degrees) in highly oxidized diorite.
  • The veinlets contain localized pyrite and arsenopyrite with visible gold observed in multiple locations across the entire 25.75 m zone (94.8 m, 95.9 m, 97.4 m, 97.6 m, 105.7 m, 109.1 m and 111.1 m).
  • The second quartz vein intersection from 206.45 m to 210.70 m. The vein is cream coloured, oxidized in fractures with stringers of fine to very fine pyrite-arsenopyrite with chalcopyrite.

With reference to the AIG 2015 guidance for visual reporting of massive sulphide mineralization, the company reports it has not encountered any massive sulphide mineralization in drill hole EZ-22-19 or EZ-22-20. While it is not possible to accurately estimate the percentage of visual gold present throughout the drill core, the company suggests that the percentage would be less than the 0.01 per cent. The company cautions that visual observations of visible gold are not a proxy or substitute for laboratory analysis. Laboratory assays and analysis will be required to confirm the visual interpretations presented in this news release.

This announcement has been authorized by the board of directors of Tempus Resources.

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 which 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, 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 (TMR), TSX Venture Exchange (TMRR) and OTCQB (TMRFF) stock exchange. 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 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 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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