Quarterly Activities Report - March 2013
Sydney, April 30, 2013 AEST (ABN Newswire) - Drilling is underway at Thomson Resources Ltd's (
ASX:TMZ) core projects. Four holes have been drilled at the Ghostrider anomaly with the drill rig currently at the F1 anomaly, on its second hole.
Four RC holes were completed for 703m to test three IP anomalies at the Bulla Park prospect in the Ghostrider project on EL 7494, 80km west of Cobar. Previous shallow RAB drilling defined a 4km long anomalous zone, with maximum values of 1.2% lead and anomalous copper, zinc and silver. The anomaly parallels the major Mt Jack fault, with the IP anomalies lying between the geochemical anomaly and the fault.
Minor pyrite, galena and chalcopyrite were observed in the RC chips - which explains the IP anomalies and extends the geochemical anomaly. Assays are awaited.
Drilling is current at anomaly F1; the largest discrete magnetic anomaly in the Thomson portfolio. Six other similar, but smaller, magnetic anomalies in the vicinity were drilled previously and all six were shown to be large intrusion-related gold mineralisation and alteration systems (IRGs). Research over the last two years on these IRG systems on Thomson's ground has identified the F1 anomaly as representing an extensive intrusion-related mineralisation system within a large granite body.
Drilling at F1 has so far confirmed this interpretation. Basement was intersected at 118m and consists of interbedded shale, siltstone and sandstone to 132m where the hole entered biotite granite. The granite showed extensive weak alteration and multiple quartz - pyrite - pyrrhotite veins with minor galena and chalcopyrite. This is a similar alteration and veining pattern to previous drilling in the Cuttaburra area 50km to the southeast.
Drilling is continuing, after which selected core samples will be cut and sent for assay. Results are expected towards the end of the June quarter.
Byrock Project
RC drilling is planned to take place at Mulga Tank as part of the current drilling program. The interpreted target is a Tritton-type volcanogenic massive sulphide.
Tenement Holdings
126 units (372 sq. km) were excised from existing tenements on renewal, resulting in an overall reduction in the area managed by Thomson to 4,159 square km, including 2,873 square km under joint venture agreements.
Corporate
Exploration expenditure incurred during the quarter totalled $173,000. Cash at the end of the quarter was $1.35 million.
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TMZ-732891.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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