Visible gold observed along strike of discovery

Investment Memo: TMR 2022

Objective #1: Make new discoveries at the Canadian gold project

Tempus Resources (ASX:TMR) has provided an update on drilling at its Canadian gold project, reporting that it has intersected visible gold. (The market seems to like it as it’s the only stock in our portfolio that opened higher this morning.)

TMR have completed three diamond drill holes to date, targeting the southern extension of the Blue Vein, for a total of 645 metres.

Our first objective for TMR this year, as outlined in our 2022 Investment Memo was for the company to make new discoveries at its Canadian gold project. Works would include high impact drilling with a focus on discovering new gold veins over the project area, and further drilling of the areas around the newly discovered Blue-Vein.

Today’s announcement works towards that objective, with visible gold observed in drill hole EZ22-03. This is an encouraging sign that the Blue Vein structure and gold mineralisation extends along strike to the south of last year’s discovery drill hole (EZ21-12).

The core from the first three drill holes is currently being cut with samples to be dispatched to the lab this week, so we look forward to those assays.