HIGHLIGHTS

  • Soil geochemistry sampling results reconfirm the presence of copper and gold mineralization at Valle del Tigre - highlighting two zones of anomalous copper and gold values within the 5 km2 survey area
  • Copper-bearing minerals, chalcopyrite and bornite observed within the survey area, as well the presence of sericite and potassic alteration
  • Anomalous copper and gold results correlate with 3 km geophysical anomaly "footprint" of target mineralisation zone identified in previous ZTEM fly over survey

Tempus Resources Ltd ("Tempus" or the "Company") (ASX:TMR, TSX.V:TMRR, OTCQB:TMRFF) is pleased to announce the results from the Phase 2 sampling program at the Valle del Tigre Project (VdT) located in south-eastern Ecuador. The Phase 2 program was a larger scale follow-up to the initial reconnaissance work conducted during February 2021 where areas with anomalous gold and copper were discovered (see Tempus announcement dated 25 March 2021

Results from the Phase 2 sampling program reconfirm the presence of gold and copper mineralization at Valle del Tigre and show a direct correlation with the geophysical anomalies generated by the airborne geophysical survey (ZTEM) work that Tempus conducted on the project in 2019.

Tempus President & CEO, Jason Bahnsen commented "The results of our Phase 2 exploration program at Valle del Tigre highlight the potential of the project for both copper and gold mineralisation. The MMI soil geochemistry results have identified two strongly anomalous areas within the overall 3km geophysical footprint that we will target for further exploration work. The Vdt project is centrally located in a major copper porphyry mineralisation trend that hosts several major copper deposits."

The Phase 2 exploration program included a Mobile Metals Ion (MMI) geochemistry soil sampling survey over an area of approximately 5 square kilometres in addition to rock and stream sediment samples. In total 505 MMI soil samples were collected, together with 53 rock samples and 48 stream sediment samples.

In 2019, Tempus conducted a ZTEM, Magnetics and Radiometrics helicopter-borne geophysical survey over the VdT license area (see Tempus announcement dated 15 December 2019). The airborne geophysics defined two east-west trending magnetic highs which are transected by a strong northeast trending ZTEM anomaly that extends for over 3 km in length. At other regional copper porphyry projects including, Panantza, Mirador and Warintza, the copper mineralization occurs in east trending zones with a similar orientation to the two magnetic anomalies that occur at VdT.

The Phase 2, MMI soil, rock and stream sediment sample results have identified two anomalous areas that display good coincidence for copper, gold, molybdenum and bismuth (see Figure 2 and Figure 3). Chalcopyrite and bornite plus sericite and potassic alteration was observed within the sample area.

Photo: Outcrop of intrusive alteration, oxidized with argillic and phyllic (clay -sericite) and potassic alteration with some sulphide veining.

Tempus Resources Ltd, Tuesday, June 7, 2022, Press release picture

Tempus is currently completing further analysis and review of the geochemical and geophysical results with regard to next steps towards refining target locations for a future drill program.

Valle del Tigre is centrally located in a newly emerging copper porphyry belt that includes the El Hito and Santa Barbara deposits to the south (Lumina Gold) and Mirador, Panantza and Warintza deposits to the northeast (Figure 1).

There are strong geological similarities between VdT and Warintza and Mirador with the Hollin Formation unconformably overlying the Misahualli Formation which is underlain by the older Zamora Batholith (see Figure 2). Copper mineralization in the northern part of the copper district is associated with a younger intrusive phase of the Zamora Batholith which has been dated as upper Jurassic in age.

QA/QC

All samples were collected by Tempus Resources under the supervision of Mr. Sonny Bernales (CPG, QP) who maintained chain of custody until delivery of the samples to SGS Laboratories in Lima, Peru for preparation and analysis. SGS's facility in Lima, Peru is accredited to the ISO 9001 standard for assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria.

The Phase 2 exploration program was conducted between 30 January 2022 to 23 February 2022. In total 505 MMI soil samples were collected, together with 53 rock samples and 48 stream sediment samples.

Mobile Metal Ion (MMI) Soil Samples

The MMI soil samples were collected on an approximate grid spacing of 200m by 50m (grid spacing irregular over some areas of extreme topography). In total 505 MMI soil samples were collected with duplicates added on a ratio of 1 duplicate for every 50 samples.

The VdT soil samples were analyzed by SGS Laboratories in Lima, Peru utilizing mobile metal ionic leach analysis for a 60-element suite. The key benefits to using partial ionic leach extraction for soil analysis compared to the industry standard aqua regia digestion includes the following:

  • Fewer false anomalies are generated
  • Anomaly better positioned directly above the mineralization
  • Excellent element value repeatability at very low detection limits
  • A better definition of metal zonation and complex metal associations
  • More effective at detecting deeply buried mineralization
  • Very low detection limits with low background noise
  • Important pathfinder volatile elements are retained

Rock Samples

A total of 53 rock samples were collected during the Phase 2 exploration program.

The rock samples were analysed using SGS's FAA313 method for gold, that is, samples were crushed, split and pulverized to -200 mesh. Analysis for gold was completed using a 30-gram fire assay fusion and flame atomic absorbtion (trace grade) with a lower limit of 5 parts per billion for gold and upper limit of 10000 ppb. Crushed and pulverized rock sample are weighed and mixed with flux and fused using lead oxide at 1100o C, followed by cupellation of resulting lead button (Dore bead). The bead is digested using 1:1 HNO3 and HCl and the resulting solution is submitted for analysis. The digested sample solution is analysed by Flame Atomic Absorbtion Spectrometer (AAS). Samples are analysed against known calibration material to provide quantitative analysis of the original sample.

For multi-elements, 49 elements, including copper, Ag, etc, the method used was SGS's ICP40B, by four-acid digestion / ICP-AES and ICP-MS.

Stream Sediment Samples

A total of 48 stream sediment samples were collected during the Phase 2 exploration program.

Same laboratory method as rock samples, that is, FAA313 for gold and ICP40B, by four-acid digestion / ICP-AES and ICP-MS for 49 multi-elements.

Competent Persons Statement

Information in this report relating to Exploration Results is based on information reviewed by Mr. Sonny Bernales, who is a Member of the Engineers and Geoscientists British Columbia (EGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Bernales 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. Bernales consents to the inclusion of the data in the form and context in which it appears.

Figure 1 - Valle del Tigre Location

Tempus Resources Ltd, Tuesday, June 7, 2022, Press release picture

Figure 2 - Valle del Tigre Geophysical and Copper Soil Anomalies

Tempus Resources Ltd, Tuesday, June 7, 2022, Press release picture

Figure 3 - Valle del Tigre Geophysical and Gold Soil Anomalies

Tempus Resources Ltd, Tuesday, June 7, 2022, Press release picture

This announcement has been authorised by the Board of Directors of Tempus Resources Limited.

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 Elizabeth-Blackdome Project, a high-grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Elizabeth-Blackdome that will form the basis of an updated NI43-101/JORC resource estimate. 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 and Valle del Tigre projects are in an early stage of exploration and are prospective for gold and copper mineralisation.

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 nine months ended March 31, 2022 dated May 16, 2022 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 ASX Exchange, 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



View source version on accesswire.com:
https://www.accesswire.com/704133/Phase-2-Exploration-Results-Valle-del-Tigre-Project-Ecuador

News Provided by ACCESSWIRE via QuoteMedia

[subscribe_company_profile use_post="101618410"]

TMR:AU

Top News

Related News

×