Tempus Resources Ltd. entered into a binding heads of agreement to acquire Sona Resources Corp., which holds the Blackdome-Elizabeth gold project in southern British Columbia.
The company said Aug. 19 that it will pay C$500,000 cash, including C$50,000 within seven days, and reimburse Sona owner Skeena Resources Ltd. for up to C$185,000 in assessment work to keep the tenements in good standing beyond April 2020.
Tempus plans to review and update the historic preliminary economic assessment to enable reporting in accordance with the JORC code before starting a feasibility study.
The project hosts historic NI-43-101-compliant mineral resources of 52,600 ounces of gold at 11.3 g/t in the indicated category, and 231,900 ounces of gold at 11.7 g/t in the inferred category.
Historic production from the project between 1986 and 1989 totaled 225,000 ounces of gold.