Tempus Resources uncovers high-grade gold potential in British Columbia

Tempus Resources ASX TMR gold Mineral Creek property British Columbia Canada
A review of historical drilling data at Tempus’ Mineral Creek project has revealed intercepts grading up to 253 grams per tonne gold.

Exploration junior Tempus Resources (ASX: TMR) has revealed high-grade gold intercepts from a review of historical drilling data at its recently acquired Mineral Creek property in British Columbia, Canada.

The Perth-based company acquired the property, along with the larger and more advanced Blackdome-Elizabeth gold project, in November after purchasing 100% of the shares in the Canadian project owner, Sona Resources.

The high-grade results came from the most recent diamond drilling programs, which were completed between 2005 and 2010 and identified six gold zones: Linda, Ember, 1050, 900, Gap and Big Southeaster.

Highlights included a 7.2m intersection grading at 159.03 grams per tonne of gold from a depth of 63.8m, including 4.5m at 253.6g/t gold from 64.3m.

Other notable intercepts included: 1.65m at 215.55g/t gold from 26m; 0.8m at 244g/t gold from 42.1m; 4.4m at 75.25g/t gold from 75.05m; and 1.1m at 152.66g/t gold from 21.3m.

Mineral Creek background

Mineral Creek is located on Vancouver Island in British Columbia and comprises 42 contiguous mineral claims over 9,877 hectares (98.77sq km).

It is located 10km east of the town of Port Alberni and is readily accessible by an extensive network of logging roads that are open in all seasons.

Gold mining on the property dates back to the late 1800s when placer gold was mined from Mineral Creek and China Creek, as well as from high-grade gold-quartz veins from several adits along the Mineral Creek fault zone.

A total of 50,000m of diamond drilling was completed at Mineral Creek in the 1980s, focusing on the volcanogenic massive sulphide and gold mineralisation potential.

A second exploration phase comprising 216 diamond holes for 37,503m was completed in the 2000s, unearthing the high-grade intercepts that have now been reviewed by Tempus.

Exploration focus

Tempus is currently compiling a consolidated database that will be used to generate mineralisation models to assist in planning new drilling programs.

The company also plans to allocate further resources to advancing Mineral Creek including further field assessment and sampling programs.

However, Tempus said its primary focus in British Columbia is its Blackdome-Elizabeth gold project, where significant drilling and sampling programs are scheduled to begin in the coming weeks.

An inferred mineral resource was estimated for the Blackdome tailings in 2010, totalling 298,389 tonnes grading at 1.47g/t of gold for 14,145 ounces of gold.

Tempus has commenced a review of a previously completed preliminary economic assessment for the project, with a view to value the project on current gold price and exchange rates and determine the requirements and timeframe to complete a definitive feasibility study.

Tempus also owns the Zamora gold projects in Ecuador, where drilling permits have now been approved for Rio Zarza. However, the company said in an exploration update last month that drilling will be pushed to later in 2020 due to the current travel restrictions.

It also holds 90% stakes in the Montejinni copper project in the Northern Territory and the Claypan Dam project in South Australia.

Tempus shares rose sharply on today’s news to $0.22; by midday trade, shares were still up by more than 50% to $0.19.

Join Small Caps News

Get notified of the latest news, events and stock alerts