Next Investors logo grey

Tempus accelerating exploration in June quarter


Published 19-MAR-2020 11:47 A.M.


3 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Tempus Resources Ltd (ASX:TMR) has provided an update on the company’s Canadian and Ecuadorian gold project activities, pointing to the imminent commencement of exploration activities at some of the projects.

The 2020 exploration program at Blackdome-Elizabeth in British Columbia is currently on schedule for commencement in the June quarter, and this will comprise sampling and analysis of potentially mineralised drill core from previous drilling programs.

Significant drilling and sampling programs are scheduled to commence at both Blackdome and Elizabeth later in the June quarter, focusing on resource extension, verification, and exploration of newly discovered targets, including the prospect 2.5 kilometres from the known Elizabeth deposit.

Key Tempus management and contractors are based locally in British Columbia, with individuals working remotely, allowing the company to quickly change gears.

The Blackdome-Elizabeth Project includes an historical tailings Mineral Resource of nearly 300,000 tonnes grading approximately 1.5 g/t gold for 14,145 ounces.

This resource is declared under Canadian NI43-101, which is a “qualifying foreign resource estimate.”

Uptick in gold price brings forward Preliminary Economic Assessment

Given the current strength in the gold price, and the potential for a fast track development of this resource, the company has commenced a review of the Preliminary Economic Assessment previously completed for the project.

This review will assess the value of the project given the current gold price and exchange rates, and determine the requirements and timeframe for a Definitive Feasibity Study to be completed on this part of the overall Blackdome-Elizabeth Project development.

TMR elizabeth

The previous financial modelling and technical work programs completed on the Blackdome Tailings Project did not take into account the considerable quantity of silver present in the tailings, which Tempus believes is likely to make a significant contribution to the potential revenues from the project.

Management will also consider significant technical advances made in the treatment of tailings since the last technical work was completed.

Awaiting 3D modelling of Zamora projects

Permits have been recently received to enable drilling to commence at the Rio Zarza Project, located directly adjacent to the world class, producing Fruta del Norte gold-silver mine.

Rio Zarza can be seen close to the south-east border between Ecuador and Peru on the following map - note the close proximity to Fruta del Norte.

TMR fruta

However, given current travel restrictions, drilling will likely take place later in 2020 after physical exploration work at Blackdome-Elizabeth has been able to be commenced and ramped up.

Preliminary 2D results from the recently completed ZTEM airborne geophysical survey over the entire Zamora Projects in Ecuador have been received, with 3D inversion modelling in progress.

The 3D inversion modelling will afford greater definition on the targets already identified in the 2D data, and a market update will be provided once this work is complete.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.