Tempus Resources

Website: www.tempusresources.com.au
Primary ticker: ASX:TMR
Stage of development: Exploration, Development
Commodity: Gold
Project to promote: Blackdome-Elizabeth Gold Project (Canada), Zamora Projects (Ecuador)
Project location: Canada and Ecuador

Live financials

Cash: TBA
Debt: NIL

Major shareholders:
Rodrigo Izurieta – 8.1%
Resilient Investment Group –
Brendan Borg – 5.2%
Alexander Molyneux – 3.2%
Management ownership – 26.2%

Developing the high grade Blackdome-Elizabeth gold project in British Columbia, Canada and exploring adjacent to the world class Fruta del Norte gold mine in southern Ecuador

Management Profile

Brendan Borg – Managing Director

Brendan Borg has more than 20 years’ experience gained working in management, operational and project development roles in the Exploration and Mining industries, with companies including Rio Tinto Iron Ore, Magnis Resources Limited, IronClad Mining Limited, Lithex Resources Limited and Sibelco Australia Limited. Brendan is currently a Non-Executive Director of Celsius Resources Limited (ASX:CLA) and Mali Lithium Limited (ASX:MLL). He is also a Director of geological consultancy Borg Geoscience Pty Ltd.

What is your rationale for attending 121 Mining Investment?

Tempus is looking to raise awareness of the company’s assets in North America ahead of possible cross listing and associated capital raising

What recent news would you like to highlight to investors attending?

Drilling is set to commence on both of the company’s key projects, located in British Columbia and Ecuador. Strong news flow is expected from these programs throughout the remainder of 2020.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Continue drilling programs at Blackdome-Elizabeth

6 Months:

Complete resource update on the Blackdome-Elizabeth Project and commence PFS

Commence drilling at the Zamora Projects in Ecuador

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Key risk is ability to raise capital in current challenging market conditions. We are minimising this risk by extensive project promotion and ensuring a strong flow of news for incoming investors.

In a sentence, what do you think makes your company such a compelling investment?

Company valuation is backed by a significant existing high grade resource in Canada, with infrastructure and permiting in place, with the opportunity to make a discovery on the higher risk project in Ecuador.

Analyst Insight – provided by Independent Investment Research

Tempus Resources is an ASX-listed company developing a pipeline of high-grade gold projects in Canada and Ecuador. Drilling is set to commence on both of the company’s key projects, located in British Columbia and Ecuador and strong news flow is expected throughout the remainder of 2020.

The past-producing Blackdome-Elizabeth Gold Project located in British Columbia, Canada, hosts significant high-grade resources of approximately 300,000 ounces, with significant expansion potential. The project includes a permitted mill and tailings storage facility. Tempus aims to sequentially bring the project back into production and will be fast-tracking feasibility studies to achieve this, whilst maintaining an equal focus on expanding the resource base significantly. During its due diligence period, Tempus intends to review, and recommend any further work required to update the foreign Mineral Resource estimates and historical PEA, to enable reporting in compliance with the JORC Code.

The Blackdome-Elizabeth Project consists of two separate mineralization styles. Firstly, the Elizabeth Zone, 200km north of Vancouver and 35km northeast of the past-producing Bralorne Gold Mine, which produced 4.2 million ounces of gold at a grade of 17.7 g/t largely between 1928 and 1971. The auriferous quartz vein mineralization at the Elizabeth Zone in analogous to that found at the Bralorne Gold Mine. An historic Inferred Mineral Resource estimate completed by SRK (2009) reported 206,000 oz of gold at 12.26 g/t. Drilling to date has focused on shallow mineralization from two quartz veins (to approximately 200 m below surface). The nearby Bralorne Gold mine reached 2,000 m below surface along multiple quartz veins.

The second mineralization style is the Blackdome Zone, 30 km north of the Elizabeth Zone. Blackdome previously produced 225,000 oz of gold at a grade of 20 g/t. An historic NI43-101 resource estimate completed by SRK (2010) reported 52,600 oz of gold at 11.29 g/t Indicated and 25,900 oz of gold at 8.79 g/t Inferred. The Blackdome Zone mineralization is consistent with low-sulphidation, structurally-controlled, epithermal gold mineralization. The Blackdome tailings facility and mill have been under care-and-maintenance, but remain in good standing for future production.

In Ecuador, the company is exploring highly prospective properties adjacent to the high-grade Fruta del Norte gold mine.