Tempus to drill three new holes at Rio Zarza
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 Zamora Projects in southern Ecuador.
The Rio Zarza Project is located directly adjacent to the world-class producing Fruta del Norte gold mine, operated by Lundin Gold (TSX:LUG).
A helicopter-borne geophysical survey over all of the Zamora Project concessions was completed in late December 2019.
The survey was flown at 200 metre line spacing for a total of approximately 600 line-kilometres. It included ZTEMTM (Z-Axis Tipper Electromagnetic) which provided superior exploration depth and high resolution, as well as excellent resistivity discrimination.
Managing director, Brendan Borg was pleased with the survey results, particularly in terms of their alignment with exploration initiatives undertaken, and on this note he said, “The results of the geophysical survey interpretation are very encouraging in their own right, with the acquisition of previously unreported assay results showing anomalous gold and silver close to the interpreted geophysical target further enhancing the case for drilling at Rio Zarza.”
New assays from 2011 drilling prove promising
The last drilling to be completed on the Rio Zarza Project was in 2011, and the final three holes from this program, namely RZDDH11-07, RZDDH11-08 and RZDDH11-09 were completed without assays being released by the laboratory.
RZDDH11-07 was of particular interest, being a deeper hole, and exhibiting epithermal banded/colloform quartz clasts in the Suarez Formation conglomerate, the geological unit which overlies and flanks Fruta del Norte gold mineralisation.
Previously unreleased assays from the final three drill holes from the last drilling in 2011 have now been received.
The assays from the hole of primary interest, RZDDH-11-07, exhibited a zone anomalous in gold, silver, copper, manganese, lead and zinc over the final 19.1 metres of the hole.
Two intervals of highly anomalous gold and silver have been identified within this broader 19.1 metre interval as indicated below.
The epithermal banded/colloform quartz clasts indicate proximity to an eroded hydrothermal vein system.
The presence of clasts restricted to the lower Suarez Formation is one factor that led to the original discovery of Fruta del Norte.
Tempus engaged geophysical consultants to provide an assessment of the helicopter survey data, and if appropriate, to recommend targets for drill testing.
As indicated below, a significant resistivity anomaly in which the Fruta del Norte deposit is hosted extends to the west and below the current extent of drilling at Rio Zarza.
The shape of the anomaly is interpreted to most likely represent more than one body.
Three drill holes planned
Based on the interpreted geophysical data and new assay information, three proposed new drill holes have been designed to explore the potential of a gold mineralised body underneath and beyond the current drilling at Rio Zarza.
The first, and highest priority of these holes, will be a direct extension of drill hole RZDDH11-07, with a planned total depth of 1,375 metres.
The two additional holes are proposed to be along strike of, and/or deeper into the prospective interpreted geological unit, and will be adjusted based on the results of the first hole.
Drilling is planned for the December quarter following the easing of international and domestic travel restrictions.
In the meantime, management plans to undertake further modelling of the data from the geophysical survey, including 2D inversion of the gravity data, to better define the location and inclination of the potential ore-bearing structures.
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.