Tempus Resources Ltd. (“Tempus Resources” or the “Company”) (ASX:TMR)(TSXV TMRR) is pleased to announce that it has received assays from the Phase I geochemical sampling program at its Valle de Tigre Project (VdT) located in south eastern Ecuador, including anomalous gold and copper observations. The anomalous observations identify several trends over 2km, correlating with previous geophysics, mobile metal ion (MMI) and structural surveys suggesting a larger mineralised system with north-south and northeast-southwest trends at VdT
Tempus Resources CEO, Jason Bahnsen commented “The Phase I geochemical sampling program confirms the presence of gold and copper mineralisation at Valle del Tigre. Tempus is now planning to complete a follow-up sampling program over the larger geochemical and geophysical target area.”
The Valle del Tigre project is an early stage, exploration project in the highly prospective Cordillera del Condor mineral belt of southeast Ecuador. VdT’s licence boundary is situated approximately 2.5km northwest of Lundin Mining’s Fruta del Norte (FdN), epithermal gold-silver mine (7.35Moz gold at 9.61g/t Indicated Resource) and approximately 15km southwest of the Mirador copper-gold porphyry deposit (3.2Mt copper, 3.4Moz gold, and 27.1Moz silver in Proven and Probable Reserves) owned by CRCC-Tongguan Investment Co., as shown in Figure 1. The property is underlain by the same sedimentary and volcanic rock formations and lies within the same rift faulting corridor as Fruta del Norte and the Jurassic Mineral Belt.
Figure 1: Valle del Tigre II & Rio Zarza Location
The Phase I geochemical program at VdT consisted of 167 soil samples, 20 stream sediment samples and 9 rock samples (Figure 2 and 3). All samples were analyzed at SGS, Peru. Quality Control and Quality Assurance (QA/QC) measures for this sampling program were implemented a follows; 1 sample in 20 was a standard or a blank for the soil sampling. 1 sample in every 10 samples was a standard or a blank for the stream sediment samples and the rock samples.
Results from the initial Phase I sampling program confirm the presence of gold and copper mineralization at Valle del Tigre II. Mobile Metal Ion (MMI) analysis used for the soil samples has identified several trends of over 2 km that are anomalous in gold and copper, as shown in Figures 2 and 3, as well as bismuth, molybdenum, and nickel (not shown). MMI analysis is proving to be very effective as a vectoring tool for gold, copper, and other pathfinder elements in the Rio Zarza (“RZ”) and VdT area.
This first phase sample sampling covered approximately 10% of the total license area of 1,950 Ha for the property. Geophysics, MMI and structural data collected early on at VdT suggest a larger mineralized system with north-south and northeast-southwest trends (Figure 2). Stream sediment sample results show similar geochemical patterns in pathfinder elements such as gold, copper, molybdenum, and Vanadium have strong correlations with each other. Rock sample assay results returned only slightly elevated levels of copper, molybdenum, vanadium, manganese, and zinc.
The Company continues to refine the geophysical interpretation of VdT and RT with further inversion modelling. Geophysical modelling along with the proposed Phase II field sampling program will further define targets for a future diamond drilling program at VdT. Tempus has initiated the drill permit process for the VdT area to expedite the permitting timeline.
Tempus has engaged Insight Geophysics to interpret the ZTEM airborne geophysical survey data, collected by Geotech Ltd. over the VdT property in late 2019 (news release, Dec. 16, 2019). This recent interpretation by Insight has defined strong conductive anomalies which were identified using geophysical response and parameters defined by direct FdN studies.
The ZTEM trends coincide with known regional structures important to mineralization in the area. The ZTEM highlights the NNW-SSE structure bound by NE-SW structures in VdT which is similar to the controlling structures present at Fruta del Norte.
This announcement has been authorised by the Board of Directors of Tempus Resources Limited.
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Kevin Piepgrass, who is a Member of the Association of Professional Engineers and Geoscientists of the province of BC (APEGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Piepgrass has sufficient experience which is relevant to the style of mineralisation 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 NI43-101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears. Due to travel restrictions related to COVID 19 Mr. Piepgrass has not travelled to VdT during the sampling but has been in contact with the technical leaders of the field crews, via video conferencing, and believes the sampling to be performed in a professional manner and in-line with company QA/QC protocols.
For further information:
Tempus Resources LTD
Melanie Ross – Director/Company Secretary Phone: +61 8 6188 8181
About Tempus Resources Ltd
Tempus Resources Ltd (“Tempus”) is a growth orientated gold exploration company listed on ASX (“TMR”) and TSX.V (“TMRR”) and OTCQB (“TMRFF”) stock exchanges. 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 NI43-101/JORC resource estimate leading to a PEA study in 2021. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east 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.
Figure 2: Valle del Tigre II sample location map with geophysics background showing In-phase 90 hertz Total Divergence
Figure 3: Valle del Tigre II – Phase 1 sample results map with geophysics background showing In-phase 90 hertz Total Divergence
Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as ”plans”, ”expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, ”anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, ”will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus’ actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed under the heading “Risk and Uncertainties” in the Company’s Management’s Discussion & Analysis for the quarter and six months ended December 31, 2020 dated February 16, 2021 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Tempus Resources Ltd.
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