Annual Report 2015 Including Full Year Statutory Accounts
Perth, Sep 29, 2015 AEST (ABN Newswire) - Thomson Resources Ltd (
ASX:TMZ) are pleased to provide the Company's Annual Report 2015 including Full Year Statutory Accounts.
Chairman's Letter:
Dear Shareholder,
On behalf of the Board of Directors, I am pleased to present the fifth Annual Report of Thomson Resources Ltd.
Since the Company listed in 2010, Thomson has maintained a strong program of quality exploration on high value opportunities in New South Wales. The Company's initial focus was on the Thomson Fold Belt where it has discovered several large Intrusive-Related Gold (IRG) systems. This is an outstanding technical success but further exploration is clearly required to test the extent and tenor of these systems.
During 2014-2015 Thomson was successful in being awarded financial assistance under the NSW Government's New Frontiers Cooperative Drilling Scheme for holes at the Cuttaburra A and Cuttaburra B prospects in the Thomson Fold Belt. The funds allocated by the Government proved to be insufficient to justify the drilling at this time. However, it is understood that the scheme has been revised for 2015-2016 to increase the proportion of assistance provided which may allow the Company to progress additional drilling.
During the year Thomson continued to expand its high-quality exploration portfolio through both acquisitions and tenement applications, with a strong focus on tin opportunities in NSW. The Company sees the outlook for tin as favourable given the looming supply side issues and NSW is considered one of the best regions for tin exploration having regard to both its historic production and diverse geological potential.
One of the key tin projects acquired by Thomson was the Bygoo project located just north of NSW's largest former tin mine at Ardlethan where it believes that there good potential to discover shallow, high grade tin mineralisation. The Company conducted an initial drill program in June 2015 which returned excellent results including 13m at 1.0% Sn, 5m at 1.3% Sn and 18m at 0.8% Sn, as well as establishing the existence of a previously unrecognised tin-bearing greisen zone.
Thomson has also applied for an exploration licence over a significant tin-tungsten project at Mt Paynter in southern NSW which includes a modest tin and tungsten resource.
Important volcanogenic massive sulphide (VMS) base metal targets the Company controls includes Wilga Downs and Havilah where VTEM surveys during the year have identified significant conductors suggestive of stratabound mineralisation. Ground follow-up EM confirmed the VTEM conductor at Wilga Downs which is considered an outstanding copper-zinc target being in comparable rocks to the Tritton copper mine to the south.
Likewise the Havilah project is an attractive target where mineralisation has been identified in Silurian volcanic rocks comparable to those that host the important VMS deposits at Woodlawn and Captains Flat. Follow-up ground EM is planned.
Thomson's important gold exploration asset near Mt Jacob, inland from Kempsey, appears to be an Intrusive Related Gold system with strong surface anomalous geochemistry and gold intercepts in historic drilling. Once access and environmental processes have been resolved this target will warrant drill testing.
The Company's recent Bygoo drilling success has positively impacted Thomson's share price and it is expected that further exploration success will enhance investor confidence. Thomson has an excellent suite of drill-ready targets across its preferred commodity profile. The Company is also constantly on the outlook for funding and joint venture opportunities that will add value to the Company's exploration portfolio and thus ultimately to shareholder value.
As you would no doubt be aware, times continue to be tough for the junior exploration sector. This is a time when good exploration and company management is fundamental and the Company is indeed fortunate to have a CEO of Mr Eoin Rothery's calibre. He continues to maintain an impressive and technically adept exploration campaign at minimal costs, consistent with the Company's purpose to discover NSW's next mineral mine.
Lindsay Gilligan PSM
Chairman
To view the Annual Report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TMZ-881666.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.
| ||
|
