Resource companies have long eyed the Americas as the region is home to a number of hotspots for gold exploration. In North America, British Columbia is one of the world's most important mining regions and the third top gold producing province in Canada. In South America, Ecuador has in recent years become one of the most attractive gold and base metal exploration jurisdictions. Major mining companies such as BHP (ASX: BHP, NYSE:BHP, LSE:BLT), Rio Tinto (ASX:RIO) and Newcrest Mining (TSX:NCM) have made significant discoveries in the country.In British Columbia, Tempus' flagship
Blackdome-Elizabeth project is a past-producing, high-grade gold exploration project which hosts two separate mineralization styles. Historic gold production at Blackdome occurred between 1986 to 1991, with a total output of 330,000 tonnes milled at a head grade of 21.9 g/t Au for 231,547 gold ounces and 564,000 silver ounces.
Blackdome is not the only past-producer in the neighborhood. The Bralorne mining camp, which lies approximately 35 kilometers southwest of Tempus' Elizabeth zone, produced 4.2 million ounces of gold at a grade of 17.7 g/t between 1928 and 1971.
When discussing what attracted the company to this gold project, Tempus CEO Jason Bahnsen noted that Blackdome-Elizabeth benefits from a fully permitted mine, mill and tailings storage facility. "That existing infrastructure is not easy to replicate, especially in British Columbia," he added.
Blackdome-Elizabeth boasts several key advantages that significantly de-risk the project and leverage the potential for further discovery, including: successful production history; proximity to some of Canada's most prolific historic gold producers and recent discoveries; existing fully-permitted infrastructure; and demonstrated high-grade gold mineralization which remains underexplored.
In southeast Ecuador, Tempus' early-stage Zamora gold projects, Rio Zarza and Valle del Tigre II, are situated along the highly prospective Cordillera del Condor gold-copper belt. The trend also hosts the Mirador copper-gold porphyry deposit, which lies approximately 15 kms northeast of Valle del Tigre II. The Zamora properties are also adjacent to and within the same district as Lundin Gold's (TSX:LUG) Fruta del Norte epithermal gold-silver deposit—one of the world's most valuable precious metals discoveries made in the past 15 years.
In January 2021, Tempus announced the execution of a property option joint venture agreement with Robinhood Gold for Tempus' Mineral Creek gold project in British Columbia. The deal would allow Robinhood to earn an initial 75 percent interest in the property under specific work commitments and consideration payments.
Tempus Resources' management team consists of seasoned veterans in mineral exploration, mine development and capital markets.
- Tempus Resources is a gold exploration and development company focused on high-quality gold projects in Canada and Ecuador.
- Well-seasoned management team with the knowledge and expertise to bring projects from discovery through to production.
- The company's flagship Blackdome-Elizabeth gold project in British Columbia hosts past production, known mineralization and existing infrastructure that can potentially fast-track the project to near-term production and cashflow for the company.
- The early-stage Zamora projects along the Cordillera del Condor copper-gold trend in Ecuador include the Rio Zarza and Valle del Tigre II prospects, which are highly prospective for both gold and copper porphyry deposits.
- The company completed a capital raising of AU$4 million in June 2020.
- Tempus' diverse shareholder portfolio consists of dedicated management and financial institutions, including HSBC Custody Nominees.
Blackdome-Elizabeth Gold Project
The Blackdome-Elizabeth gold project consists of two separate mineralized properties in the prolific gold producing region of southern British Columbia, Canada. The Blackdome property is 30 km north of Elizabeth and nearby gold projects under exploration by Westhaven Ventures (TSXV: WHN) and Talisker Resources (CSE:TSK) along the newly discovered Spences Bridge Gold Belt. The Elizabeth property is 35 km northeast of the past producing Bralorne mine camp now owned by Talisker.
Blackdome hosts the permitted and past-producing Blackdome gold mine, processing plant and tailings storage facility.
Elizabeth hosts a historic NI 43-101 inferred mineral resource of 522,843 tonnes at 12.26 g/t gold, while Blackdome has a historic NI 43-101 indicated resource of 144,500 tonnes at 11.29 g/t gold and 50.1 g/t silver with an additional inferred resource of 80,600 tonnes at 8.79 g/t gold and 18.61 g/t silver. The Blackdome tailings has a historic NI 43-101 inferred resource of 298,389 tonnes at 1.47 g/t gold.
In November 2020, Tempus released assays from 26 holes drilled at Blackdome in 2020 which totaled 5,087 meters. Highlights from the phase one program at Blackdome included intercepts of 28.3 g/t Au and 513 g/t Ag over 0.6 meters.
In February 2021, Tempus released assays from its first 11 successfully completed drill-holes from the 4,000 meter phase one drill program at the Elizabeth property. Outstanding intersections included:
- EZ—20-06: 5.0m at 61.3 g/t gold from 116.5m, including 1.5m at 186.0g/t gold from 118.0m
- EZ—20-10: 3.2m at 28.1 g/t gold from 184.0m, including 0.5m at 178.0g/t gold from 184.5m
The company completed 2,000 meters of the initial phase one drill program at Elizabeth in late 2020 with plans to complete the remaining 4,000 meters in the spring of 2021. An additional 7,500-meter phase two drill program is slated to follow at Elizabeth as well as a 5,000-meter drill program at Blackdome.
The results of the drill programs will serve to inform an updated mineral resource estimate for the Blackdome-Elizabeth project currently under development by the company's technical team in preparation for a planned preliminary economic assessment slated for 2022.
The Zamora projects consists of the 1,000-hectare Rio Zarza project located adjacent to Lundin's Fruta del Norte gold project and the 2,195-hectare Valle del Tigre II project which sits to the north of Rio Zarza.
Rio Zarza's eastern boundary, 850 meters west of Fruta del Norte, exhibits similar geological, structural and alteration characteristics. Similar subparallel NNE trending rift faults that control Fruta del Norte are repeated at Valle del Tigre II. Currently under development, Fruta del Norte hosts an NI 43-101 compliant indicated mineral resource of 23.8 million tonnes at 9.61 g/t gold and an inferred mineral resource of 11.6 million tonnes at 5.69 g/t gold.
The Valle del Tigre II project's boundary is approximately 2.5 km northwest of Fruta del Norte and 15 kilometers southwest of the Mirador copper-gold porphyry deposit which reportedly hosts 3.2 Mt of copper, 3.4 million ounces of gold and 27.1 million ounce of silver in proven and probable reserves.
In February 2021, Tempus announced it had completed the Phase 1 exploration program at the Valle del Tigre II project. Phase one of the program consisted of 167 soil samples, 20 stream sediment samples and 9 rock samples. The company has already completed a 600-kilometer ZTEM airborne geophysics survey over both the Rio Zarza and Valle del Tigre II properties. The resulting data delineated a strong resistivity/conductive anomaly that now proves to be coincident with copper and gold mineralization as seen from artisanal mining in the area recently identified during the phase 1 exploration program.
While Tempus awaits phase 1 assay results, planning for follow up exploration at Valle del Tigre II is underway.
Alexander Molyneux is an experienced mining industry executive and is the co-founder and chairing member of Azarga Resources Group. He serves in non-executive chairman positions at Azarga Metals Group and Argosy Minerals Ltd, and was previously executive chairman of Azarga Uranium Corp.
Before joining SouthGobi, Molyneux was managing director, head of Metals and Mining Investment Banking, Asia Pacific, with Citigroup. As a specialist resources investment banker, he spent approximately 10 years providing advice and investment banking services to natural resources corporations.
Jason Bahnsen is a Canadian / Australian mining engineer with over 30 years of experience. He began his career in mine development, working for underground mine contracting companies in Canada, Indonesia and Australia. Bahnsen has held production roles at several gold mine operations in capacities as a mine planning engineer, project engineer and shift boss. Following several years working with Rio Tinto in Australia, he moved into investment banking.
Bahnsen spent approximately 10 years working as a resource banker working with Deutsche Bank, Macquarie Bank and Fox-Davies Capital on major international resource acquisition and equity market transactions. Following a successful banking career, Bahnsen became involved in resource company development and has held CEO roles for several private and listed resource exploration and development companies.
Jonathan Shellabear has over 30 years of experience in the mining and financial services industries, having worked as a geologist, resources analyst, corporate executive and investment banker with NM Rothschild & Sons, Deutsche Bank and Resource Finance Corporation.
Shellabear was previously the managing director and CEO of Dominion Mining Ltd, which Kingsgate Consolidated Ltd acquired in February 2011 to create, at that time, the second-largest Australian listed gold company by market capitalization. He has also held senior corporate roles with Portman Ltd as general manager of Business Development, and Heron Resources as managing director and CEO. Most recently, he served as CFO of Capricorn Metals Limited.
Shellabear has extensive capital markets and advisory experience and has advised numerous public market transactions to companies. Furthermore, he is an accomplished and respected gold industry senior executive with extensive knowledge across technical, commercial and financial disciplines. Shellabear holds a Bachelor of Science with Honours in Geology and a Master of Business Administration from the University of Western Australia.
Melanie Ross is an accounting and corporate governance professional with over 18 years of experience in financial accounting and analysis, audit, business and corporate advisory services in public practice, commerce and state government. She has a Bachelor of Commerce and is a member of the Institute of Chartered Accountants in Australia and New Zealand and an associate member of the Governance Institute of Australia. Ross is currently a director of a corporate advisory company based in Perth that provides corporate and other advisory services to public listed companies. She is the company secretary for Celsius Resources Ltd., Great Boulder Resources Ltd. and Ragusa Minerals Ltd.
Rodrigo Izurieta is an economist and business manager with over 10 years of experience in the mining industry and previously served as president and board member for the Chamber of Mines of Ecuador. Prior, he was a partner and owner of CTC, a boutique consulting firm specializing in finance and economics, advising multilateral organizations, banks and multinational corporations. He also served as director of Finance and Strategy at EFH Corp, a family-owned holding company with investments in manufacturing, real estate and agriculture.
Izurieta also worked for Andersen in their Corporate Finance consulting division and projects, Banco Santander in their New York Economic Research department.
Kevin Piepgrass is a geologist with over 15 years of experience in the mineral exploration and development industry. He has held exploration manager positions for Australian and Canadian junior companies in North America, South America and East Africa. He is responsible for the development and implementation of the company's exploration programs at its recently acquired projects in Ecuador and Canada and assisting in expanding the company's footprint in these regions. Piepgrass obtained his undergraduate degree at the University of Alberta, Canada.