Receives Strong Support From North American And Australian Investors
Tempus Resources Ltd (ASX: TMR, TSXV: TMRR) has received firm commitments to complete a non-brokered private placement raising gross proceeds of approximately A$1.9 million.
President and Chief Executive Officer, Jason Bahnsen, said the Placement was strongly supported by North American and Australian institutional and sophisticated investors.
“We plan to resume drilling at our high-grade Canadian Elizabeth Gold Project within the coming six to eight weeks and the Placement will enable us to extend works there,” Mr Bahnsen said.
“Given the great results from last year, it’s very exciting to be getting back on the ground at Elizabeth with an enlarged drilling programme.”
The xompany began drilling at Elizabeth in November 2020 and completed 11 holes for 2,006 metres before suspending operations for the season in late-December. Assays returned bonanza grade gold intercepts including:
- Drill-hole EZ-20-06: 5.0m at 61.3g/t gold from 116.5m, including 1.5m at 186.0g/t gold from 118.0m; and
- Drill-hole EZ-20-10: 3.2m at 28.1g/t gold from 184.0m, including 0.5m at 178.0g/t gold from 184.5m
The 2021 exploration programme at Elizabeth is fully permitted and on schedule to commence by the end of Q2 2021.
Tempus currently plans 7,500m of drilling to expand the known high-grade gold mineralisation by testing the down plunge and along strike extensions of the currently delineated vein zones.
