Awarded Drilling Grants
Sydney, Aug 29, 2016 AEST (ABN Newswire) - Thomson Resources (
ASX:TMZ) is pleased to announce it has been awarded two drilling grants under the NSW Government's New Frontiers Cooperative Drilling Scheme. The grants fund direct drilling costs and total $170,000. The grants are for drilling at Mt Jacob and Cuttaburra. Exploration at both of these prospects targets Intrusion-Related Gold (IRG) type mineralisation.
Highlights:
- Two new drilling grants awarded - combined value $170,000
- Drilling at the Mt Jacob Project to test a 1500m x 400m surface gold anomaly
- Previous shallow drilling was mineralised from surface to end of hole e.g. 88m at 0.4 g/t Au
- Better mineralisation is expected in roof zone of underlying granite - not seen in any drilling to date
- Drilling at Cuttaburra to test a mineralised hydrothermal system below shallow cover
- A large magnetic anomaly has just 3 drill holes to date and has recorded up to 0.5 g/t gold, 113 g/t silver, 4.2% zinc, 0.5% copper, 1.8% lead, 0.8% tin and 0.6% tungsten over 1m
- Trace element zoning indicates a gold target to the south west
Mt Jacob
At Mt Jacob, 40km west of Kempsey NSW, previous work has identified a stratabound occurrence of gold confined to a circular area ringed by a magnetic anomaly. This gold occurrence is hosted in gritty conglomerates and features intersections of up to 88 metres at 0.4 g/t Au from surface to end of hole (all drilling details were released in Thomson's quarterly of December 2013). The gold-bearing conglomerate is thought to overly a gold deposit hosted by the intrusion itself, typically a sheeted vein system in the roof zone.
Cuttaburra B
The Cuttaburra B anomaly lies in the Thomson Fold Belt and has had three previous holes drilled. The results indicate a large mineralised hydrothermal system lies under shallow cover (90m). A clear vector is seen from North to South (barren; to silver anomalous; to Au, Ag, Zn, Pb, Cu, Sn and W mineralised). The geochemical trend indicates better mineralisation towards the margins of the magnetic anomaly. The polymetallic nature of the areas drill tested, and the lack of any intrusive bodies in the drilling so far, suggests the previous drilling may be peripheral to a zone of gold mineralisation. A stronger magnetic high within the overall anomaly remains untested, lying on the outer west side (Figure 3, see link below), and is the target for this drilling phase.
Under the terms of the grant the funding will be for 100% of the direct costs of drill metrerates.
Successful drilling programs must be completed and the results, drill samples and reports sent back to The Division of Resources and Energy before payment. The project must be completed by 30th June 2017.
These grants recognise and highlight the most outstanding exploration opportunities in the state for new mineral discoveries. Thomson Resources welcomes NSW Government support in its continued efforts to discover significant new deposits.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/2525X91X
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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