Acquires New Tungsten-tin Project
Acquires New Tungsten-tin Project
Sydney, May 27, 2015 AEST (ABN Newswire) - Thomson Resources Ltd (ASX:TMZ) is pleased to announce it has lodged an exploration licence application (ELA 5181) over a significant tin-tungsten ("Sn-W") exploration project at Mt Paynter in southern NSW (Figure 1 in link below). Mt. Paynter is located within the Lachlan Fold Belt within a similar geological setting to Thomson's Ardlethan project where drilling is to commence shortly.

Tin-tungsten mineralisation at Mount Paynter is hosted within the Silurian Koetong Granite and the surrounding meta-sediments. Mineralisation occurs within quartz veins and greisenised vein selvedges, containing scheelite, cassiterite and other minor accessory minerals. The main Mount Paynter lode (Main Lode) has an average width of between 1 to 2m, strikes E-W, dips sub-vertically, and can be traced on the surface for over 600m along strike and extends over 300m down dip based on current drilling information and an exploration adit and drives. A number of other quartz vein tin-tungsten lodes have also been mapped, but are not yet drill tested.

A small inferred JORC 2004 compliant resource was defined on the Main Lode in 2007 (see Page 8 for notes in link below). This comprises 245,000 tons grading 0.45% tungsten and 0.27% tin (1100 tons of tungsten and 660 tons of tin). The resource was confined to the main lode structure and estimated from 19 historic diamond drill holes (see Table A for a list of the better intercepts), 52 underground channel chip samples and 18 underground bulk samples. The latter were obtained from an exploration adit and level crosscuts. The top 5 to 10m of the lode was excluded from the resource, and most of the previous workings are confined to these shallow depths. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

Table A - best recorded intercepts at Mt Paynter

Hole    Intercept
MP4     0.7m at 2.12% W and 4.88% Sn from 40.7m depth
MP5     3.1m at 0.22% W and 0.73% Sn from 66.5m depth
MP7     2.6m at 0.36% W from 64.5m depth
MP8     3.0m at 0.82% W and 0.49% Sn from 60.6m depth
MP11    4.2m at 0.43% W and 0.43% Sn from 86.5m depth
MP12    1.9m at 1.13% W and 0.07% Sn from 79.8m depth
MP13    4.0m at 1.20% W and 0.08% Sn from 99m depth
MP14    2.0m at 0.91% W from 120m depth
MP17    5.5m at 0.43% W and 0.33% Sn from 134.5m depth
MP19    1.7m at 0.09% W and 0.36% Sn from 227.7m depth
MP20    1.9m at 0.58% W and 0.76% Sn from 118m depth
MP21    4.5m at 1.59% W from 236m depth

All widths are down hole widths.

Small scale mining took place at Mount Paynter between 1873 to 1930, with around 1,200 tons of ore raised and crushed for tin. One shaft was sunk to a depth of 64m. The exploration adit and sampling crosscuts were completed in 1982, but no production was undertaken. The adit and crosscuts access the Main Lode 183m below the surface outcrop and provide excellent control on the lode position and geometry.

The mineralisation at Mt Paynter is hosted in a quartz vein (the "Main Lode") and surrounding greisen alteration within the Koeteng Granite. It dips steeply north (Figure 2 in link below), strike east-west and is consistent where it has been drill tested, with 17 of 19 holes hitting significant mineralisation in the predicted Main Lode position. Within the Main Lode tin and tungsten appear to be zoned and occur in shoots. Strong tungsten mineralisation occurs to the east of strong tin mineralisation.

Whilst the current resource is modest, there are good exploration prospects for additional mineralization with potential to extend the known mineralisation to the east and west as well as down dip. Further, there are several other veins in the area that have not been drill tested. Previous mining and exploration was mainly focused on tin, and there is evidence that tungsten bearing greisens may have been overlooked.

The acquisition of the Mt Paynter tin-tungsten project adds to Thomson Resources strong tin-tungsten portfolio. The Company's top priority at present is the Bygoo project at Ardlethan, where drilling is expected to commence on June 2nd (See Thomson's ASX release April 10th and quarterly report released April 30th).

The Company considers that there are strong fundamentals for future increases in tin and tungsten prices, providing high confidence in the significant value that these projects bring to Thomson.

To view tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TMZ-859831.pdf


About Thomson Resources Ltd

Thomson Resources Ltd (ASX:TMZ)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.

 


Contact

Thomson Resources Ltd
T: +61-2-9906-6225
F: +61-2-9906-5233
WWW: www.thomsonresources.com.au



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