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Sydney, Aug 15, 2012 (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
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
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About Thomson Resources Limited
Thomson Resources Ltd (ASX:TMZ) is an Australian-based exploration company focussed on the discovery and development of high quality mineral deposits within the Thomson Fold Belt of northern NSW. Thomson Resources was incorporated on 17 July 2009 with the initial shareholders being Minotaur Exploration Ltd and Platsearch NL, ASX-listed, exploration companies.
All TMZ exploration tenements lie within the Thomson Fold Belt, a region of deformed and intruded sediments and volcanics to the north of one of Australia’s premier metalliferous mining districts, the Lachlan Fold Belt. The belt has excellent exploration potential for large, high grade deposits, particularly Cobar-type.
In 2010, TMZ signed joint venture agreements with Compass Resources over a further 15 tenements in the Thomson Fold Belt and adjacent Lachlan Fold Belt. This gives TMZ a dominant position in a new mineral belt which has had minimal, but very encouraging, exploration so far.
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