Tempus Resources Ltd (ASX:TMR) (CVE:TMRR) (FRA:4W0) has completed a Phase 1 exploration program at its Valle de Tigre II (VdT) Project in south-eastern Ecuador with visible gold and copper observed in samples.
The sampling program consisted of 167 soil samples, 20 stream sediment samples and nine rock samples which have been sent to SGS del Ecuador, in Guayaquil, where they will be prepared before being sent to SGS del Peru for analysis.
Tempus has identified coarse gold in streams using traditional panning methods with up to 11 gold grains in one pan along with several artisanal gold workings in the sampling area.
Rock samples near these gold workings contained sulphide veins with visible pyrite-chalcopyrite-bornite within altered sandstone and granitic rocks.
“Visible gold and copper encouraging”
Tempus CEO and president Jason Bahnsen said: “We look forward to receiving the assay results from the 198 samples in this initial program.
“The presence of both visible gold and copper mineralisation during the fieldwork is very encouraging and together with the geophysical anomalies suggest the potential for gold and copper porphyry mineralisation within the project area.”
Valle del Tigre II is in the heart of the Cordillera del Condor mineral belt of southeast Ecuador with CRCC-Tongguan Investment Co’s Mirador porphyry copper mine to the north and Lundin Mining Corporation’s (TSE:LUN) (OTCMKTS:LUNMF) (STO:LUMI) (FRA:GXD) Fruta del Norte gold project to the south.
Fruta del Norte is an epithermal gold-silver deposit with an indicated resource of 7.35 million ounces gold at 9.61 g/t.
The Mirador copper-gold porphyry deposit is 3.2 million tonnes copper, 3.4 million ounces gold and 27.1 million ounces silver in proven and probable reserves.
Valle del Tigre II is underlain by the same sedimentary and volcanic rock sequence and lies within the same structural corridor as Fruta del Norte.
Airborne ZTEM geophysical survey
The gold mining activities at VdT appear to be along mineralised structures which are coincident with strong conductive anomalies identified in the airborne ZTEM geophysical survey.
Recent interpretation by Insight Geophysics of the survey data, which was examined for FdN class targets, has outlined two additional mineralised trends which are now under examination for drill testing.
Geotech Ltd, with contributions from Insight Geophysics and Tempus, will be presenting a case study at the Canadian Exploration Geophysical Society (KEGS) online March 18, 2021, using ZTEM data from Rio Zarza which covered Fruta del Norte and the Valle del Tigre II property.
Valle del Tigre II and Rio Zarza locations.
Exploration in Ecuador 2021
Due to the impact of COVID-19 global pandemic over the past year, the Ecuadorian Presidential elections and the recent exploration results, Tempus has placed previous strategic discussions regarding the Rio Zarza project on hold for the present time.
Exploration activities in Ecuador during 2021 will instead focus on the identification and development of drill targets at Valle del Tigre II to complement the drill-ready Rio Zarza project.
The company is encouraged by the potential of its Valle Del Tigre II and Rio Zarza exploration projects in Ecuador and believe these projects will generate value for Tempus shareholders.