Joint Ventures Its Byrock Project
Sydney, Aug 15, 2012 AEST (ABN Newswire) - Thomson Resources Limited (
ASX:TMZ) has entered into a joint venture for its Byrock Project located approximately 100 kilometres north of Cobar, central NSW (ELs 6783, 7642 and 7643, Figure 1). Kenilworth Exploration Pty Ltd, a private company owned by unrelated third parties, will fund Thomson's exploration to $300,000 to earn a 50% share in the project.
Kenilworth has also appointed Thomson as exploration manager for Kenilworth's tenements (ELs 7807, 7808 and 7809) which lie immediately adjacent to the Thomson ground. Kenilworth will wholly fund exploration on that package and has granted Thomson an option to purchase 50% within the next 18 months.
The Byrock area is prospective for a number of deposit styles, particularly orogenic gold, porphyry copper-gold, granite related tin-tungsten and Tritton-style copper deposits.
There are numerous old gold workings in the area, the best being Mt Dijou (Figure 1) which was worked up until the 1950's. Significant gold occurrences on the Byrock project include Three Sisters (Figure 1) among others.
Recently, YTC Resources reported an intercept of 50m of "porphyry style alteration in intrusive rocks with associated weak copper mineralisation" at Mullahgalah (Figure 1) on a prominent magnetic anomaly 15km north of Thomson's Byrock Project. YTC are also exploring the tin-copper deposit at Doradilla.
The area is generally underlain by Ordovician age Girilambone Group rocks which host the Girilambone and Tritton copper mines 80km to the southeast. In the Byrock project, the Grid 4-A11 prospect (Figure 1) has several similarities to these deposits, including copper-silver soil anomalism and an adjacent magnetic anomaly. A test line for that prospect has been prepared and will be drilled first.
The Company welcomes this investment in its Byrock project, which recognizes the prospectivity of the area and brings funding into Thomson's exploration.
To view the complete Thomoson Resources announcement including Figures, please click the link below:
http://media.abnnewswire.net/media/en/docs/ASX-TMZ-689817.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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