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Tempus Resources to pick-up pace of drilling at Blackdome-Elizabeth Gold Project

Drilling activities at the project in British Columbia, Canada, have gathered momentum with a second drill set to start operating later this week.

Tempus Resources Ltd - Tempus Resources to pick-up pace of drilling at Blackdome-Elizabeth Gold Project
Tempus is focused on verifying and expanding the historical gold mineral resource at the project.

Tempus Resources Ltd (ASX:TMR) (FRA:4W0) is accelerating the pace of drilling at Blackdome-Elizabeth Gold Project in British Columbia, Canada, with a second drill rig to start operations later this week.

This comes as diamond drilling at the high-grade Elizabeth sector of the project progresses, with three holes for 195 metres completed as at today.

Drilling program

The initial focus for the planned 6,000-metre drilling program is the southern portion of the Southwest Vein, which hosts the majority of the historical NI 43-101-compliant mineral resource at Elizabeth.

Reporting of final assays from the recently completed drilling at the Blackdome sector of the project has been delayed due to the laboratory requiring further QA/QC analysis on the samples prior to release of the results to Tempus.

The drilling program will focus on verification and extension along strike and at depth to the mineral resource at Elizabeth, which comprises 522,843 tonnes grading 12.26 g/t gold for 206,139 ounces.

It will allow the company to prepare updated JORC 2012 and NI 43-101 compliant estimates, expected to be published in March 2021, once all data has been received and modelled.

Blackdome-Elizabeth Project

Blackdome-Elizabeth Gold Project in British Columbia is made up of two separate mineralisation styles, the Elizabeth zone and the Blackdome zone, and is spread over a 350 square kilometre area, which is relatively unexplored.

Tempus intends to leverage the existing permitted mill, tailings dam and other infrastructure at Blackdome with the aim of recommencing production as the project proceeds.

Recently, Tempus raised $2.5 million through a placement of shares which was supported by new and existing institutional and sophisticated investors.

Proceeds will be primarily used to fund accelerated exploration at Blackdome-Elizabeth and other gold projects in Ecuador.

Quick facts: Tempus Resources Ltd

Price: 0.165 AUD

Market: ASX
Market Cap: $14.26 m

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