Australian-based Tempus Resources (TMRR.V, TMR.AX) is evaluating and exploring projects in British Columbia and Ecuador. In recent months, Tempus has had a focus on the flagship Elizabeth Gold Project in British Columbia. On September 21, 2023, Tempus announced the acquisition of an option over the White Rabbit and Cormorant lithium exploration projects located in Central Manitoba.
The Company recently announced a report on the recent site visit to the White Rabbit and Cormorant Lithium exploration projects in central Manitoba. Tempus geologists visited the White Rabbit and Cormorant lithium exploration projects from 17-22 September 2023 to further due diligence investigations. Due to what they have seen, the team will re-visit White Rabbit in early October to complete additional rock sampling and mapping.
Tempus Resources President and CEO, Jason Bahnsen, commented, “Our geological team completed initial site visits to the White Rabbit and Cormorant lithium projects and were able to verify the presence of outcropping pegmatite dykes at White Rabbit and inspected the drill core for DH180-2 from the Cormorant Project that is stored in the Manitoba Geological Survey where wide zones of pegmatite up to 33 metres in width were observed. The team is preparing for a second visit to the White Rabbit project site during early October to complete more detailed rock sampling and mapping.”
White Rabbit
The White Rabbit Project, with a total claim area of approximately 70 km2, is located adjacent to major railway and power infrastructure with year round access. The project is located approximately 40 km north of the Cross Lake community and approximately 100 km southeast of the mining centre of Thompson, Manitoba.
Historic exploration at White Rabbit is limited to surface mapping completed by Manitoba Geological Survey (MGS). The outcrop mapping survey indicates pegmatite dyke outcrops with strike lengths up to 2.5 km and widths up to 600 metres. The outcrop mapping is based on historic information and has not been verified by Tempus. Tempus geologists visited the White Rabbit project to verify access and the location of outcropping pegmatite dykes noted in the historic MGS mapping.
Tempus geologists verified the presence of outcropping pegmatite dykes along the shores of White Rabbit Lake. Three chip samples were taken of pegmatite outcrops at the locations denoted in a blue triangle in the image above. The samples have been sent for assay and the results will be reported when available.
Tempus is planning a second site trip to White Rabbit Project during the week of October 8, 2023 to complete detailed mapping and sampling of the pegmatite dyke outcrops.
Cormorant Project
The Cormorant Project, with a total claim area of approximately 187 km2, is located adjacent to major railway and power infrastructure with year round access. The town of The Pas, with a population of approximately 5,000 people, is 40 km to the southwest and is a regional centre for workforce plus construction, mining and engineering services.
The project has been subject to seven historical exploration drilling campaigns between 1975 and 2006. All historic drilling on the project was focused on the identification of base metals with no assays completed for lithium and associated elements that were focused on the discovery of base metals. Twenty historic core drill holes have been identified on the current Cormorant Project license areas.
Tempus has obtained the drill logs for six of the historic drill holes which indicate the presence of intersections of pegmatite mineralization up to 33 metres in thickness.
Tempus geologists inspected the core for Cormorant drill hole 180-02 that is stored in the MGS drill core library at The Pas, Manitoba. Drill-hole 180-02 was completed by Manitoba Minerals Inc in 1979, targeting base metals discovery. No assays for lithium or associated elements were completed on the historic drill core from the Cormorant Project.
Tempus geologists observed three wide intersections (up to 32.73 metres) of pegmatite in the core for drill hole 180-2. In total there is approximately 74.81 metres of pegmatite in the drill core over the three intersections between a depth of 89.79 metres and 184.66 metres.
Tempus is making arrangements with MGS to take samples of drill core 108-02 for assay. Tempus is also working on obtaining additional drill logs and identifying the storage location of further drill cores from the Cormorant Project.
For more info on Tempus Resources, check out Chris Parry’s latest piece on the Company and the upcoming catalysts.
The stock has broken down below major support at $0.04. And the stock has printed new all time record lows at $0.015. Since then, the stock developed a range here with the upside resistance being $0.04. A break of this range would take us back to retest the broken support now turned resistance at $0.04. A close back above this zone would be key for a reversal. The resource estimate could be the upcoming catalyst for the recovery.
It should be noted that an earlier sign of reversal could be a close above the downtrend line that I have drawn. Price is testing the upper limits of the trendline currently. Bulls would want to see a nice strong green candle close accompanied with big volume.
