Thomson to focus on priority exploration targets
Sydney, June 25, 2012 AEST (ABN Newswire) - Thomson Resources Limited (
ASX:TMZ) today announced that it is taking steps to relinquish 2,794 square kilometres of its tenement holding in the Thomson Fold Belt to focus the company's activity on the priority Cobar region exploration targets and the aircore drilling program already underway. This relinquishment will not substantively impact on the company's exploration program. The areas retained in the Company's project portfolio (3,325 sq. km) contain all of Thomson's current high priority prospects,
including all of those scheduled for drilling this year. These include Cuttaburra A and B, where precious and base metal mineralized systems have been discovered. None of the recently signed joint ventures areas are affected.
This action has been taken as a result of the recent NSW Government budget which proposes both to levy a $60 per unit annual fee on exploration licenses and to increase the security deposit liability on tenements; the relinquishment will save Thomson around $120,000 in these charges in the next year.
The aircore drilling program announced last week has commenced and results will be released as soon as they are available.
For the full release including charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TMZ-683516.pdf
About Thomson Resources Ltd
Thomson Resources Ltd (ASX:TMZ) is an NSW active mineral explorer. Thomson has several tin projects (including an advanced project near Ardlethan), as well as gold, copper and zinc targets in a range of settings. Thomson has a good record of discovery, with multiple new Intrusion-Related Gold (gold with copper, lead, zinc, molybdenum, tungsten) systems discovered in the Thomson Fold Belt in the NW of the state.
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