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Elizabeth Geophysical Survey Highlights Scale Potential (Updated)

HIGHLIGHTSThe first ever high resolution airborne geophysics survey on Elizabeth has identified the potential for a much larger scale gold system that…

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HIGHLIGHTS

  • The first ever high resolution airborne geophysics survey on Elizabeth has identified the potential for a much larger scale gold system that significantly increases the footprint and depth extensions of potential gold mineralisation
  • The Blue Creek Porphyry intrusion, which hosts the high-grade gold mineralisation at Elizabeth likely covers an area >4x its previously known extent
  • The Blue Creek Porphyry appears to extend at least 2km below surface (i.e., approximately 10x deeper than currently drill-tested)
  • Two additional anomalies have been identified as potential intrusive bodies similar to the Blue Creek Porphyry. These two anomalies show strong continuity along strike and are also extensive at depth

PERTH, AUSTRALIA / ACCESSWIRE / August 13, 2021 / Tempus Resources Ltd (" Tempus " or the " Company ") (ASX:TMR)(TSXV:TMRR)(OTCQB:TMRFF) is providing this update of the release of the airborne geophysical survey first announced on 2 August, 2021. This update of the release includes a table summary of previous geological results for the Elizabeth Gold Project. The Company is pleased to announce the results of the first ever high resolution airborne magnetic and radiometric geophysical surveys completed over the entire Elizabeth Gold Project in Southern BC, Canada.

The Elizabeth Gold Project is the flagship project for Tempus and is located in the Bralorne - Pioneer Gold District of southern British Columbia. The 115km 2 project is characterised as a relatively underexplored high-grade mesothermal gold system that presents itself in relatively wide (typically ~1-5m wide) vein sets. The high-grade quartz veins encountered in the drilling at Elizabeth show close geological similarities to the Bralorne - Pioneer mesothermal vein system (approximately 30km away), which was mined to a depth of approximately 2,000 metres and produced more than 4 million ounces of gold over a period of 50 years.

Tempus President and CEO, Jason Bahnsen, commented "The results of the geophysical surveys show that the intrusive system that hosts the gold veins at Elizabeth is much larger and extends much deeper than previously thought. There are also two additional large-scale anomalies within the project licence. The results highlight the potential for Elizabeth to complement its high-grade nature with very large scale.

Airborne Geophysical Surveys and Interpretation

In June 2021, Precision GeoSurveys Inc. was contracted to complete airborne magnetic and radiometric surveys over the Elizabeth Gold Project and completed 97 lines for a total of 735 line-kilometres. Flight lines are oriented east-west with north-south tie lines and spaced 200 metres across the entire 115km 2 Elizabeth property. Over the Elizabeth Main and Elizabeth East Zones a line spacing of 100 metres was flown to increase the resolution and detail over these zones (see Figure 3 below).The airborne magnetic survey data was reviewed and interpreted by Insight Geophysics Inc. using 3D magnetization vector inversion (MVI) modelling.

The geophysical surveys identified the Blue Creek Porphyry, which is the known host of the high-grade Elizabeth gold-quartz veins, as a relative magnetic low anomaly within the Shulaps Ultramafic Complex. From this correlation of geology and geophysics it was determined that the Blue Creek Porphyry, originally explored and mapped to approximately 1.1km 2 in size, is likely much larger. The airborne magnetic survey and MVI 3D modelling interpret the Blue Creek Porphyry to be at least four-times the size at approximately 4.5km 2 (see Figures 1 and 2 below).

This new geophysical data and interpretation of the Blue Creek Porphyry is also extensive at depth, revealing a robust intrusion extending to at least 2km deep (ie, approximately 10x deeper than mineralisation has currently drill-tested). Such an interpretation further indicates the analogous nature of Elizabeth's potential relative to the nearby Bralorne gold deposit (see Figure 2 below).

Historically, the boundaries of the Blue Creek Porphyry have been poorly defined based on mapping of sparse outcrops and therefore not well understood. The airborne surveys, the first of their kind at Elizabeth, are very encouraging as they define a transformationally larger footprint of the main porphyry which gives way to the necessary host geology along strike of the currently known Elizabeth vein/structures as well as unexplored areas to the north, south, and east.

In addition, two other magnetic low anomalies have been identified within the Elizabeth licence area as potential intrusive bodies similar to the Blue Creek Porphyry (see Figure 2 below). These two anomalies show strong continuity along strike and are also extensive at depth.

The Blue Creek Porphyry, which hosts the Elizabeth gold-quartz veins, is thought to have intruded the Shulaps Ultramafic Complex during the late-Cretaceous (70.27 ± 5.25 Ma, by Ar-Ar) and belonging to the late stages of the Coast Plutonic Complex. This timing makes it close in proximity to the timing of Bralorne mineralization (approximately 30km away) and being associated with the same, regional, transpressional environment. Bralorne is a well explored mesothermal vein system, which was mined to a depth of approximately 2,000 metres and produced more than 4 million ounces of gold over a period of 50 years.

The Shulaps Complex is bounded by two major dextral faults, the Yalakom Fault to the north (seen in the airborne magnetics map (see Figure 1) on the Elizabeth property) and the Marshal Creek, Quartz Mountain Faults to the south and west. Within these two regional fault sets are sigmoidal faults, namely the Mission Ridge Fault and the Red Mountain Fault. It is these 2nd order sigmoidal structures that are influential in the Elizabeth vein/fault systems and give them the southwest orientation.

Figure 1 - The Elizabeth Project Geophysics Interpretation

Figure 2 - Elizabeth Project - Geophysics Long Section

Figure 3 - Aeromagnetic survey grid over Elizabeth Gold Property

Elizabeth Drilling Update

Diamond drilling continues at the Elizabeth Main Project with 11 holes, for approximately 2,850 metres, completed to date. Eight holes have had samples submitted to the lab to date. Assays for the first four holes (EZ 21-01 to EZ 21-04) where submitted to SGS Laboratories for assay on 24th June. The first four holes all appear to have intersected strong SW Vein mineralisation. Completion of the initial assays has been subject to delays due to heavy volumes at the lab but are expected to be received in early August.

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

Competent Persons Statement

Information in this report relating to Exploration Results is based on information reviewed by Mr. Kevin Piepgrass, who is a Member of the Association of Professional Engineers and Geoscientists of the province of BC (APEGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Piepgrass 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. Piepgrass 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

About Tempus Resources Ltd

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 Blackdome-Elizabeth Project, a high grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth 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.

Forward-Looking Information and Statements

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 Page | 4 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 nine months ended March 31, 2021 dated May 14, 2021 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 CollarTable

  

UTM

UTM

    
Hole ID

Target

Easting (NAD83

Northing (NAD83

Elevation (m)

Length (m)

Azimuth

Dip

  

Z10)

Z10)

    
EZ-21-01

SW Vein

531203

5653771

2400

102

121

-52

EZ-21-02

SW Vein

531203

5653771

2400

132

146

-55

EZ-21-03

SW Vein

531203

5653771

2400

111

158

-47

EZ-21-04

SW Vein

531203

5653771

2400

135

168

-58

EZ-21-05

SW Vein

531078

5653776

2400

561

123

-48

EZ-21-06

SW Vein

531078

5653776

2400

226

110

-55

EZ-21-07

SW Vein

531203

5653771

2400

126

115

-75

EZ-21-07b

SW Vein

531203

5653771

2400

123

115

-75

EZ-21-08

SW Vein

531195

5653839

2427

231

115

-68

EZ-21-09

SW Vein

531200

5654020

2330

360

120

-48

EZ-21-10

SW Vein

530953

5653772

2390

354

127

-50

EZ-21-11

SW Vein

530953

5653772

2390

381

136

-50

EZ-21-12

SW Vein

530953

5653772

2390

375

105

-45

EZ-21-13

SW Vein

530919

5653596

2300

261

94

-45

EZ-21-14

SW Vein

530919

5653596

2300

ongoing

108

-55

Table 2: Significant Interval Table

Hole ID

From (m)

To (m)

Interval (m)

True Thickness (m)

Gold Grade

Grade x Metres

Vein

 
 
EZ-21-04

122.00

126.00

4.00

3.40

31.2

124.80

SW Vein

 
including

123.00

124.50

1.50

1.28

52.1

78.15

SW Vein

 

and

124.00

124.50

0.50

0.43

72.0

36.0

SW Vein

 

*true thickness is estimated using a multiplier of 0.85.

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 Gold Project and the Blackdome Mine

Section 1: Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

 
Criteria
JORC Code explanation
Commentary
Sampling techniques
Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.
 
HQ (63.5 mm) sized diamond core using standard equipment.
Mineralised and potentially mineralised zones, comprising veins, breccias, and alteration zones were sampled.
Samples were half core.
Typical core samples are 1m in length.
Core samples sent to the lab will be crushed and pulverized to 85% passing 75 microns. A 50g pulp will be fire assayed for gold and multi-element ICP. Samples over 10 g/t gold will be reanalysed by fire assay with gravimetric finish
Drilling techniques
Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).
Diamond Drilling from surface (HQ size)
Drill sample recovery
Method of recording and assessing core and chip sample recoveries and results assessed.
Measures taken to maximise sample recovery and ensure representative nature of the samples.
Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
Detailed calculation of recovery was recorded, with most holes achieving over 95%
No relationship has yet been noted between recovery and grade and no sample bias was noted to have occurred.
Logging
Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
The total length and percentage of the relevant intersections logged.
Detailed geological and geotechnical logging was completed for each hole.
All core has been photographed.
Complete holes were logged.
Sub- sampling techniques and sample preparation
If core, whether cut or sawn and whether quarter, half or all core taken.
If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
For all sample types, the nature, quality and appropriateness of the sample preparation technique.
Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.
Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain size of the material being sampled.
Half core was sampled, using a core saw.
Duplicate samples of new and historical core are Quarter core or half core where not previously sampled
Sample sizes are considered appropriate for the grain size of the material being sampled.
It is expected that bulk sampling will be utilised as the project advances, to more accurately determine grade.
Quality of assay data and laboratory tests
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.
Core samples that have been sent to the lab for analysis include control samples (standards, blanks and prep duplicates) inserted at a minimum rate of 1:5 samples.
In addition to the minimum rate of inserted control samples, a standard or a blank is inserted following a zone of mineralization or visible gold
Further duplicate samples were analysed to assess variability
Verification of sampling and assaying
The verification of significant intersections by either independent or alternative company personnel.
The use of twinned holes.
Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
Discuss any adjustment to assay data.
Re-assaying of selected intervals of historic core have been sent for analysis.
Location of data points
Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.
All sampling points were surveyed using a hand held GPS.
UTM grid NAD83 Zone 10.
A more accurate survey pickup will be completed at the end of the program, to ensure data is appropriate for geological modelling and Resource Estimation.
Down hole surveys have been completed on all holes.
Data spacing and distribution
Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
Whether sample compositing has been applied.
Most drilling is targeting verification and extension of known mineralisation.
It is expected that the data will be utilised in a preparation of a Mineral Resource statement.
Additional drilling is exploration beneath geochemical anomalies, and would require further delineation drilling to be incorporated in a Mineral Resource.
Orientation of data in relation to geological structure
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
In general, the aim was to drill perpendicular to the mineralised structures, to gain an estimate of the true thickness of the mineralised structures.
At several locations, a series (fan) of holes was drilled to help confirm the orientation of the mineralised structures and to keep land disturbance to a minimum.
Sample security
The measures taken to ensure sample security.
Samples from Elizabeth were delivered to the laboratory by a commercial transport service.
Audits or reviews
The results of any audits or reviews of sampling techniques and data.
An independent geological consultant has recently visited the site as part of preparing an updated NI43-101 Technical Report for the Project.
 
Section 2: Reporting of Exploration Results
 
(Criteria listed in the preceding section also apply to this section.)
 
Criteria
JORC Code explanation
Commentary
Mineral tenement and land tenure status
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
The Blackdome-Elizabeth Project is comprised of 73 contiguous mineral claims underlain by 14 Crown granted mineral claims and two mining leases.
The Property is located in the Clinton and Lillooet Mining Divisions approximately 230 km NNE of Vancouver
Tempus has exercised the option to acquire the Elizabeth Gold Project and has completed an addendum to the original Elizabeth Option Agreement (refer to ASX announcement 15 December 2020)
A net smelter royalty of 3% NSR (1% purchasable) applies to several claims on the Elizabeth Property.
No royalties apply to the Blackdome Property or Elizabeth Regional Properties.
There are currently no known impediments to developing a project in this area, and all tenure is in good standing.
Exploration done by other parties
Acknowledgment and appraisal of exploration by other parties.
In the 1940s, placer gold was discovered in Fairless Creek west of Blackdome Summit. Prospecting by Lawrence Frenier shortly afterward led to the discovery of gold-bearing quartz veins on the southwest slope of the mountain that resulted in the staking of mining claims in 1947. Empire Valley Gold Mines Ltd and Silver Standard Resources drove two adits and completed basic surface work during the 1950s.
The Blackdome area was not worked again until 1977 when Barrier Reef Resources Ltd. re-staked the area and performed surface work in addition to underground development. The Blackdome Mining Corp. was formed in 1978 and performed extensive surface and underground work with various joint venture partners that resulted in a positive feasibility study. A 200 ton/day mill, camp facilities and tailings pond were constructed and mining operations officially commenced in 1986. The mine ceased operations in 1991, having produced 225,000 oz of Au and 547,000 oz of Ag from 338,000 tons of ore (Godard et al., 2010)
After a period of inactivity, Claimstaker Resources Ltd. took over the project, reopening the mine in late 1998.
 
 
Mining operations lasted six months and ended in May of 1999. During this period, 6,547 oz of Au and 17,300 oz of Ag were produced from 21,268 tons of ore. Further exploration programs were continued by Claimstaker over the following years and a Japanese joint venture partner was brought onboard that prompted a name change to J-Pacific Gold Inc. This partnership was terminated by 2010, resulting in another name change to Sona Resources Corp.
Gold-bearing quartz veins were discovered near Blue Creek in 1934, and in 1940-1941 the Elizabeth No. 1-4 claims were staked.
Bralorne Mines Ltd. optioned the property in 1941 and during the period 1948-1949, explored the presently- named Main and West Veins by about 700 metres of cross-cutting and drifting, as well as about 110 metres of raises.
After acquiring the Elizabeth Gold Project in 2002, J- Pacific (now Sona) has conducted a series of exploration programs that included diamond drilling 66 holes totalling 8962.8 metres (up until 2009) Other exploration work by Sona at the Elizabeth Gold Project has included two soil grid, stream sediment sampling, geological mapping and sampling, underground rehabilitation, structural mapping and airborne photography and topographic base map generation.
Geology
Deposit type, geological setting and style of mineralisation.
The Blackdome property is situated in a region underlain by rocks of Triassic to Tertiary age. Sedimentary and igneous rocks of the Triassic Pavilion Group occurring along the Fraser River represent the oldest rocks in the region. A large, Triassic age, ultramafic complex (Shulaps Complex) was emplaced along the Yalakom fault; a regional scale structure located some 30 kilometres south of the property. Sediments and volcanics of the Cretaceous Jackass Mountain Group and Spences Bridge/Kingsvale Formations overlie the Triassic assemblages. Some of these rock   occur several kilometres south of Blackdome.
Overlying the Cretaceous rocks are volcanics and minor sediments of Eocene age. These rocks underlie much of Blackdome and are correlated with the Kamloops Group seen in the Ashcroft and Nicola regions. Geochemical studies (Vivian, 1988) have shown these rocks to be derived from a “calc-alkaline” magma in a volcanic arc type tectonic setting. Eocene age granitic intrusions at Poison Mountain some 22 kilometres southwest of Blackdome are host to a gold bearing porphyry copper/molybdenum deposit. It is speculated that this or related intrusions could reflect the source magmas of the volcanic rocks seen at Blackdome. There is some documented evidence of young granitic rocks several kilometres south of the mine near Lone Cabin Creek.
The youngest rocks present are Oligocene to Miocene basalts of the Chilcotin Group. These are exposed on the uppermost slopes of Blackdome Mountain and Red Mountain to the south.
Transecting the property in a NE-SW strike direction are a series of faults that range from vertical to moderately westerly dipping. These faults are the principal host structures for Au- Ag mineralisation. The faults anastomose, and form sygmoidal loops.
The area in which the Elizabeth Gold Project is situated is underlain by Late Paleozoic to Mesozoic rock assemblages that are juxtaposed across a complex system of faults mainly of Cretaceous and Tertiary age. These Paleozoic to Mesozoic-age rocks are intruded by Cretaceous and Tertiary-age stocks and dykes of mainly felsic to intermediate composition, and are locally overlain by Paleogene volcanic and sedimentary rocks. The Elizabeth Gold Project is partly underlain by ultramafic rocks of the Shulaps Ultramafic Complex, which include harzburgite, serpentinite and their alteration product listwanite.
The gold mineralisation found on the Elizabeth Gold Project present characteristics typical of epigenetic mesothermal gold deposits. The auriferous quartz vein mineralisation is analogous to that found in the Bralorne- Pioneer deposits. Gold mineralisation is hosted by a series of northeast trending, steeply northwest dipping veins that crosscut the Blue Creek porphyry intrusion. The Main and West vein systems display mesothermal textures, including ribboned-laminated veins and comprehensive wall rock breccias. Vein formation and gold mineralisation were associated with extensional-brittle faulting believed to be contemporaneous with mid- Eocene extensional faulting along the Marshall Creek, Mission Ridge and Quartz Mountain faults.
Drill hole Information
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
o
easting and northing of the drill hole collar
o
elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar
o
dip and azimuth of the hole
o
down hole length and interception depth
o
hole length.
If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
Refer to Appendix 1 for drill hole collar information
Data aggregation methods
In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
The assumptions used for any reporting of metal equivalent values should be clearly stated.
Intervals reported using several samples are calculated using a weighted average.
Calculated intervals using a weighted average did not use a top cut on high-grade samples. High-grade samples are reported as ‘including’
Calculated weighted average intervals are continuous intervals of a mineralized zone and do not include unsampled intervals or unmineralized intervals.
Relationship between mineralisation widths and intercept lengths
These relationships are particularly important in the reporting of Exploration Results.
If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).
In general, drilling is designed to intersect the mineralized zone at a normal angle, but this is not always possible.
For the reported intervals, true widths are reported where mineralized core was intact and possible to measure the orientation. Otherwise the true width is left blank
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
Refer to maps within announcement for drill hole locations.
Balanced reporting
Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration
Where broader low-grade intervals are reported the high-grade intercepts are reported as ‘including’ within the reported interval
Other substantive exploration data
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
Tempus recently completed an airborne magnetic and radiometric survey over the Elizabeth Gold Project (refer to ASX announcement 02 August 2021) by completing 97 lines for a total of 735 line-kilometres. Flight lines are oriented east-west with north-south tie lines and spaced 200 metres across the entire 115km2 Elizabeth property. Line spacing of 100 metres was flown over the Elizabeth Main and Elizabeth East Zones.
The airborne magnetic survey data was reviewed and interpreted by Insight Geophysics Inc. using 3D magnetization vector inversion (MVI) modelling.
The geophysical surveys identified the Blue Creek Porphyry, which is the known host of the high-grade Elizabeth gold-quartz veins, as a relative magnetic low anomaly within the Shulaps Ultramafic Complex. From this correlation of geology and geophysics it was determined that the Blue Creek Porphyry, originally explored / mapped to approximately 1.1km2 in size, is likely much larger. The airborne magnetic survey and MVI 3D modelling interpret the Blue Creek Porphyry to be at least four-times the size at approximately 4.5km2.
This interpretation of the Blue Creek Porphyry is also extensive at depth extending to at least 2km deep
Further work
The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large- scale step-out drilling).
 
Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
Tempus plans to update historical NI43-101 foreign resource estimates to current NI43-101 and JORC 2012 standards
 
Tempus is also seeking to expand the scale of the mineralisation at the project through further exploration.

SOURCE: Tempus Resources Ltd.

 

SOURCE: Tempus Resources Ltd



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Gratomic Proudly Announces Aukam Processing Plant Transition into Wet Commissioning

TORONTO, ON / ACCESSWIRE / September 27, 2021 / Gratomic Inc. ("Gratomic", "GRAT" or the "Company") (TSXV:GRAT)(OTCQX:CBULF)(Frankfurt:CB82) announces…

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TORONTO, ON / ACCESSWIRE / September 27, 2021 / Gratomic Inc. ("Gratomic", "GRAT" or the "Company") (TSXV:GRAT)(OTCQX:CBULF)(Frankfurt:CB82) announces the commencement of wet commissioning (Stage C4), The Company has started running material through the crushing circuit in preparation of full commissioning of its Aukam processing plant. The entire Gratomic Executive team was present for this significant milestone and witnessed the equipment operating as it was engineered to perform.

The following is the detailed explanation of the C4 wet commissioning phase:

  • Check site-wide systems are fully operational
  • Confirm operator technicians trained and able to run commissioning
  • Check as-built document complete
  • Confirm Operations and Maintenance manuals available in draft form

"Our team at Aukam continues to excel," said Arno Brand, CEO & President, "The progress on the project advances at an exceptional rate and the Gratomic team has easily surmounted any potential obstacles that have arisen at the project over the previous months."

Assembly continues on the material thickener tank, see HERE for corresponding press release dated September 7th, 2021. The unit is currently going through its final assembly. Additionally, the Company has reduced its water cost by 50% through collaboration with local communities in the immediate Aukam area and water demand on site is currently fully met by supply. Upon completion, the plant will sustain over 1,000,000 liters of water storage. Included in this total is water storage, process water, and water recycling (as indicated in its press release dated November 9, 2020, Gratomic will recycle approximately 95% of the water in the system). See HERE to view the press release. This is sufficient storage to sustain operations once the plant is fully commissioned.

The plumbing, electrical and air compressor circuits for the three mixing tanks and vertical columns are currently under assembly. Once these components are installed, water will be introduced into these units for testing and calibration. The product thickener tank, which was assembled in April of 2021, will be filled to a 70% capacity in preparation for the next stage. The completion of the material thickener tank, the delivery of the twelve additional mixing tanks and nine additional flotation columns (see press release dated September 7th, 2021), will bring the flotation circuit into the final stage of C4 wet commissioning.

Final assembly of the plumbing and electrical circuits to the press filter are in the final connection phase. Conveyor B has been installed, with the catwalks and stairways completed. The custom-built material chipper and hopper has been completed and mounted above the rotary drier, which was installed and assembled in April of this year.

The crushing circuit has moved into the wet commissioning phase. From here, the circuit will undergo comprehensive calibration on all systems and will be fitted with custom enclosures to secure the preservation of graphite fines throughout the crushing process. The calibration phase is an extremely important step in the commissioning process, it requires ample time and attention to be carried out effectively to ensure optimal future performance of the cycle.

"The Gratomic team has been working very hard during the construction phases and is proud to have reached wet commissioning. This brings the Company into the forefront of the final transition from a junior exploration company into a development company," says Armando Farhate, COO & Head of Graphite Marketing and Sales.

Click HERE for video footage of wet commissioning.

Gratomic wishes to emphasize that no Preliminary Economic Analysis, Preliminary Feasibility Study or Feasibility Study has been completed to support any level of production. In fact, no mineral resources let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam property.

The Company is working towards completing a Preliminary Feasibility Study (PFS) on the Aukam Processing plant. The study, its recommendations, and their subsequent implementation, will provide conclusions and recommendation at a PFS level of comfort relating to the scale up of the existing processing plant to a commercial scale processing facility capable of producing the desired concentrate grades and production rates.

Gratomic wishes to emphasize that the supply of graphite is conditional on Gratomic being able to bring the Aukam project into a production phase, and for any graphite being produced to meet certain technical and mineralization requirements. Gratomic continues to move its business towards production and as part of its business plan, expects to file a National Instrument 43-101 Standards of Disclosure for Mineral Projects resource estimate in Q1 2022.

Risk Factors

No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant until the PFS is completed.

The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a PFS or feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.

Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.

Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability.

Qualified Persons

Steve Gray, P. Geo. has reviewed and approved the scientific and technical information in this press release and is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Gratomic

Gratomic is focused on introducing an exceptional anode material to the global electric vehicle and energy storage supply chains. True to its roots as an exploration and mining company, Gratomic aims to achieve full operational capabilities in 2021 on its Aukam Graphite Project and continues to diversify its assets into a multi-national company with various projects globally. Large quantities of its naturally high-quality vein graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the results will provide a unique competitive advantage in its desired target markets.

The Company's recent collaboration agreement with Forge Nano has advanced the developments on its graphite finalization phase for the micronization, spheronization, and the patented ALD coating of its Aukam vein graphite for use in lithium-ion batteries. Forge Nano is a global leader in surface engineering and precision nano-coating technology, using Atomic Layer Deposition.

GRAT has two outstanding off-take purchase agreements with TODAQ and Phu Sumika with contract fulfillment slated to begin in 2021.  Gratomic plans to deliver mine-to-market traceability through its partnership with deeptech company TODAQ by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project.

For more information: visit the website at www.gratomic.ca or contact:

Arno Brand at abrand@gratomic.ca or 416 561- 4095

Subscribe at gratomic.ca/contact/ to be added to our email list.

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

Forward Looking Statements:

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

SOURCE: Gratomic Inc.



View source version on accesswire.com:
https://www.accesswire.com/665551/Gratomic-Proudly-Announces-Aukam-Processing-Plant-Transition-into-Wet-Commissioning

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Today’s News

Granada Gold Mine Extends Warrant Terms

 

Rouyn Noranda, Q.C. – TheNewswire – September 24, 2021 – Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”)…

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Rouyn Noranda, Q.C. - TheNewswire - September 24, 2021 - Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) announces that it will be extending the expiry date of an aggregate 6,861,806 share purchase warrants (the "Warrants") by two years.  The 6,861,806 Warrants are due to expire on October 18 and November 6, 2021. The expiry date will be extended by two years and the Warrants will now expire on October 18 and November 6, 2023.  All other terms and conditions remain constant.

 

The private placement units were issued at a price of $0.15 per unit and consisted of one common share and one Warrant entitling the holder to purchase one additional common share at an exercise price of $0.15 per share for a period of three years from closing.  The amendment is subject to the approval of the TSX Venture Exchange.

 

About Granada Gold Mine Inc.

 

Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.

 

The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.

 

The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings.  In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au.  They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.  

 

“Frank J. Basa”

Frank J. Basa, P. Eng.

Chief Executive Officer

 

For further information, Contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

P: 416-625-2342

  

Or:

 

Wayne Cheveldayoff,

Corporate Communications

P: 416-710-2410

E: waynecheveldayoff@gmail.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

  

Copyright (c) 2021 TheNewswire - All rights reserved.

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Today’s News

Bravada Gold Corporation Applies to Extend Closing of Non-Brokered Private Placement

Vancouver, British Columbia–(Newsfile Corp. – September 24, 2021) – Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported…

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Vancouver, British Columbia--(Newsfile Corp. - September 24, 2021) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported today that the Company has requested a 30-day extension, subject to TSXV approval, to close the previously announced non-brokered private placement.

The Company announced (August 9th, 2021) that it had closed the first tranche of its previously reported non-brokered private placement by issuing 4,260,000 units at a price of $0.07 per unit for gross proceeds of $298,200. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.12 per share.

Net proceeds from the private placement will be used for continued exploration on the Company's 100% owned Wind Mountain Au-Ag project, sustaining fees for the Company's Nevada-based claims, and for working capital.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the units, nor shall there be any sale of the units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

About Bravada

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits, frequently attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.

Since 2005, the Company signed 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.

-30-

On behalf of the Board of Directors of Bravada Gold Corporation

"Joseph A. Kizis, Jr."

Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation

For further information, please visit Bravada Gold Corporation's website at bravadagold.com or contact the Company at 604.684.9384 or 775.746.3780.

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

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

This news release is not intended for distribution to United States newswire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97635

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