Elizabeth Exploration 2022 Focus on Mineralisation Expansion

2022-04-02 09:41:55 By : Mr. Zhangfei Tu

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PERTH, AUSTRALIA / ACCESSWIRE / March 29, 2022 /Tempus Resources Ltd ("Tempus" or the "Company") (ASX:TMR)(TSX.V:TMRR)(OTCQB: TMRFF) is pleased to announce the 2022 exploration plan for the Elizabeth Gold Project located in Southern British Columbia.

Tempus President and CEO, Jason Bahnsen, commented "The 2022 exploration program at Elizabeth will focus on further delineation of the new Blue Vein and the expansion of the overall mineralisation for the project in advance of preparing a resource estimate. We have executed a contract with our drilling contractor, Full Force Drilling, and we plan to begin mobilisation to the site in May with drilling targeted to begin early June."

Elizabeth Gold Project - 2022 Exploration Program

The 2022 exploration program at Elizabeth will build on the success of the 2021 drill program and focus on expansion of the overall resource for the project.

A total of 28 drill diamond core drill holes (approximately 7,820 metres) were completed at the Elizabeth Gold Project in 2021. Combined with drilling completed in 2020, Tempus has now completed 39 drill holes (approximately 9,826 metres) in total on the Elizabeth Gold Project.

In 2022, Tempus is planning to complete an additional 25-30 diamond core drill holes (approximately 8,500 metres) at the Elizabeth Gold Project. The key target areas in the 2022 drill program include the Blue Vein, West and Main Veins, the Ella Zone.

The overall exploration drilling strategy for the Elizabeth Project is focused on increasing the size and confidence level of the historic inferred resource of approximately 206,139 ounces of contained gold (522,843 tonnes @ 12.26 g/t gold - SRK 2009). Apart from a few infill drill holes intended to convert inferred resources to the indicated category, the majority of the drill holes completed by Tempus to intersect the gold vein structures are outside of the 2009 resource block model.

The results of the 2022 drill program will contribute to the completion of an updated NI43-101 Resource estimate for the Elizabeth Project.

The Company is not currently planning to do any exploration field work at the Blackdome Gold Mine in 2022.

The Blue Vein is located approximately 150 metres to the northwest, near vertical in dip, and parallel, to the SW Vein (See Figure 1). This previously unknown vein has now been intersected by 7 drill-holes (EZ-21-09, EZ-21-12, EZ-21-19, EZ-21-24, EZ-21-25, EZ-21-26, EZ-21-27) demonstrating an initial strike length of 380 metres (see Figure 3). The Blue Vein structure has been intercepted to approximately 100 metres depth and remains open along strike and down dip. (See Figure 1, Figure 3).

Three of the seven drill holes completed at Blue Vein intersected grades of greater than 1 oz per tonne of gold. The high-grade mineralization at the Blue Vein has been delineated over an initial strike length of approximately 80 metres within the overall 380 metre of vein structure that has been identified through drilling.

Highlights from the Blue Vein drilling completed in 2021 include.

The strike distance of high-grade results from the Blue Vein between drill-holes EZ-21-27 and EZ-21-25 is approximately 80 metres and encompasses the discovery hole EZ-21-12 and EZ-21-26 (See Figure 3). Assay grades for these holes range from 9.13 g/t gold to 71.3 g/t gold over widths ranging from 0.50 m to 2.70 metres. These results show the continuity of the high grades within the Blue Vein over a strike distance of more than 80 metres. The Blue Vein structure has been identified over a total strike length of 380 metres.

The 2022 drill program will target the southern and northern extension to the current high grade gold mineralisation. A total of 15 drill holes are planned that target the Blue Vein (see Figure 3).

Tempus has completed a total of twenty three (23) drill holes that have intersected the South West Vein (SW Vein). The gold mineralisation of the SW Vein has now been defined to extend approximately 400 metres in strike and up to 200 metres in depth. The SW Vein remains open at depth and along strike.

The drilling results to date are showing consistent structure. Tempus has drilled deeper at Elizabeth than any of the historic drilling completed on the project. The deep intersections of the SW Vein are encouraging and geologically very significant as the vein continues at depth, as does the alteration and associated mineralization as identified in other high-grade intercepts from the SW Vein. This mineralization at depth is consistent with typical Mesothermal/Orogenic gold deposits, such as the Bralorne-Pioneer Gold mine 30km to the south of Elizabeth and is confirmed with the ICP-OES assay analysis which indicates elevated arsenic, antimony, silver, and mercury when intersecting the SW Vein at depth.

Significant intersections from the SW Vein include:

Drilling completed in 2021, completes the initial phase of drilling on the SW Vein. Mineralisation remains open at depth and along strike. Tempus will plan to complete future drilling on the SW vein from the underground portal access that is pending permitting.

Main Vein / West Vein Zone

The Main Vein and the West Vein are largely unexplored and no drilling has been done to the southern extension of these vein structures.

Historic trenching at Elizabeth on the West Vein (above the West Vein underground drift) in 2003 returned 55.1 g/t gold over a strike length of 20.0m and 14.2 g/t gold over a strike length of 20.0m and from the Main vein (above the Main Vein underground drift). Note, historic trenching results are historic in nature and are not compliant with NI 43-101 standards and should not be relied upon and are to be used as a reference only.

In 2021, Tempus completed one drill hole intersecting the West Vein (EZ-21-05). The vein was intersected at 554.8m downhole depth with mesothermal type mineralization and anomalous gold. Drill hole EZ-21-05 was a sizable ~450m step out to the SW, along strike from any previous drilling on the West Vein.

Tempus is planning to complete ten (10) drill holes targeting the Main and West Veins in the 2022 exploration drill program at Elizabeth.

In 2021, Tempus completed one exploration drill hole at the Ella Zone (EZ-21-21) targeting quartz veining identified from 2003 trenching in the area. This first drill hole in this target returned encouraging results with up to 1.03 g/t gold over 2.0m from 184.0m within a 4.0m veining zone. The geochemistry supports a mesothermal style mineralized vein with assay results retuning highly anomalous arsenic and antimony.

At least two drill holes are planned to target the Ella Zone in 2022 Elizabeth drill program.

The Elizabeth project is a multi-vein epithermal/orogenic system with historic bonanza' grade intercepts in drill core and surface trenching. There are more than 9 known vein systems on the property hosting gold mineralisation.

There is potential for new vein discoveries north east of the Blue Vein and in the unexplored zone between the South West Vein and the West Vein (See Figure 1).

Figure 1 - The Elizabeth Project - Plan View Showing 2022 Proposed Drill Holes

Figure 2 - Southwest Vein Drill Hole Intersections

Figure 3 - Blue Vein Longitudinal Section Showing 2022 Proposed Drill Holes

Figure 4 - West Vein Longitudinal Section Showing 2022 Proposed Drill Holes

Figure 5 - Main Vein Longitudinal Section Showing 2022 Proposed Holes

This announcement has been authorised by the Board of Directors of Tempus Resources Limited.

Information in this report relating to Exploration Results is based on information reviewed by Mr. Sonny Bernales, who is a Member of the Engineers and Geoscientists British Columbia (EGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Bernales has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person for the purposes of NI43-101. Mr. Bernales consents to the inclusion of the data in the form and context in which it appears.

For further information: TEMPUS RESOURCES LTD Melanie Ross - Director/Company Secretary Phone: +61 8 6188 8181

Tempus Resources Ltd ("Tempus") is a growth orientated gold exploration company listed on ASX ("TMR") and TSX.V ("TMRR") and OTCQB ("TMRFF") stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Elizabeth-Blackdome Project, a high-grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Elizabeth-Blackdome that will form the basis of an updated NI43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador. The Rio Zarza project is located adjacent to Lundin Gold's Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed under the heading "Risk and Uncertainties" in the Company's Management's Discussion & Analysis for the quarter and half-year ended December 31, 2021 dated February 14, 2022 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Appendix 1

Table 1: Drill Hole Collar Table

Appendix 2: The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of Exploration Results for the Elizabeth - Blackdome Gold Project

Section 1: Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)

Section 2: Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)

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