Join our daily newsletter At The Bell to receive exclusive market insights
- Tempus Resources (TMR) has spiked on the ASX today after releasing assay results from drilling at its Canadian Blackdome Elizabeth Gold Project
- The company drilled 11 diamond holes for just over 2000 metres between mid-November and mid-December last year
- Of these, 10 holes struck intersections worth reporting on, with two holes hitting zones averaging over 150 grams per tonne of gold
- Tempus has another 4000 metres to drill in this first-phase program but said, given the early success, a 7500-metre phase two program is already being planned
- The company hopes the drilling will lead to an updated mineral resource estimate for the project
- Shares in Tempus Resources are up 25 per cent at midday today, trading at 30 cents per share
Tempus Resources (TMR) has spiked on the ASX today after releasing assay results from late-2020 drilling at its Canadian Blackdome Elizabeth Gold Project.
From mid-November to mid-December 2020, Tempus drilled 11 diamond drill holes for just over 2000 metres at the Elizabeth sector of the project, which lies about 200 kilometres north of Vancouver. This was the first part of a 6000-metre drilling program in the area.
From the 11 holes drilled, 10 struck intersections worth reporting on, with five holes hitting intersections of more than 5 grams per tone (g/t) of gold.
Some of the most notable hits include a five-metre intersection at 61.3 g/t of gold from 116.5 metres. This intersection included a 1.5-metre zone grading a whopping 186 g/t of gold from 118 metres. A different hole struck a 3.2-metre hit at 28.1 g/t of gold from 184 metres, including a 0.5-metre hit at 178 g/t of gold from 184.5 metres.
Tempus President Jason Bahnsen said these first-phase results confirm the high-grade potential of the Elizabeth sector.
“We look forward to continuing with the drill program there in the Canadian spring, leading to an updated NI43-101 resource estimate thereafter,” Jason said.
The NI41-101 is a set of codes and guidelines for reporting mining and exploration information in Canada, much like Australia’s JORC codes.
With spring typically beginning in mid-March in Canada, it’s likely Tempus will resume drilling over the next month or two.
The company said given the early success of the Elizabeth drilling, it’s already planning an additional 7500-metre phase two program to focus on delineating resources at the Southwest, Main, and West veins in the project area.
Shares in Tempus Resources are up 25 per cent at midday AEDT, trading at 30 cents each. The company has a $26 million market cap.
