More high grade gold from 2022 drill program
Yesterday our gold exploration Investment Tempus Resources (ASX: TMR) put out another batch of assays from its 2022 drilling program.
The assays came from five different veins TMR hosts at its gold project, our key takeaways from yesterdays announcement is as follows:
- A highlight intercept from the No.9 Vein of 2.57m with gold grades of 11.5g/t from a depth of 139.1m.
- Assays indicate that the strike length at the West/Main Veins increased by ~220m to a total strike length at this part of TMR’s project of ~400m.
- Gold mineralisation discovered at the Ella Zone (new vein) - at this stage, grades are relatively low, with a peak intercept of 1.7g/t gold over 1.41 metres from a depth of 109m.
TMR still has another eight assays pending across the No.9, Blue and West/Main Veins.
As mentioned in our last TMR note, we are most interested in seeing the assay results from the No.9 Vein, where TMR hit a ~25.75m quartz vein with visible gold.
Interestingly, TMR mentioned in yesterday's announcement that the delay in assays for that particular hole was because of a “number of over limit metallic screening assays required for samples with grades exceeding 10 g/t gold”.
Hopefully, this will mean TMR has in fact hit high grade mineralisation in that hole AND more importantly over a much larger thickness than we are used to seeing.
If we see high grade gold mineralisation over that entire interval, then we think this could be a major catalyst for TMR’s share price.
What’s next for TMR?
We want to see the assay results from the remaining eight drillholes from TMR’s 2022 drilling program.
