More Tin at Bygoo, NSWSydney, Nov 8, 2017 AEST (ABN Newswire) - Thomson Resources Ltd (ASX:TMZ) provides the Company's latest Presentation to Beer and Co 5th International Tin Conference.
Thomson Resources - funding
- Farm-In agreement signed with a North American private investor who can earn 51% of the Bygoo Project by contributing A$3 million
- The investor will also have an option for an additional 25% interest of the project for A$22 million
- A$790,000 received to date
- Further staged payments are due monthly through to end February 2018, with a final payment to reach the cumulative $3 million due on or before June 30, 2018
- 3 tenements covered by the agreement in the Wagga Tin Belt: one surrounds the Ardlethan world class tin mine
- Other tenements in highly prospective regional setting
Bygoo Exploration Target
- Exploration Target of 0.9 to 1.4 million tonnes at 0.8 to 1.4% Sn (7,200 to 20,100 tonnes of contained tin)
- Grade estimate:
o average grade in mineralised zones is 1.4% Sn
o 182 metre splits in Thomson drilling previously reported - 9 drill holes over 100m
o Cut-off 0.2% Sn, internal waste up to 3m, maximum grade 11.1%
o Grade range for target - 0.8% (median) to 1.4% (average)
- Bygoo North true width estimates previously reported:
o range from 4-10m, average 7m; use 5 to 8m for exploration target
- Bygoo North strike extent drilled to date 100m; potential to triple to 300m
- Bygoo North dip extent drilled to date 40m; potential to double to 80m
- Potential for repeats - Bygoo South plus structures seen in magnetics (two at least - discounted to half the size of Bygoo North)
- 2.5 specific gravity applied to estimate tonnage from volume - SG of granite, rhyolite
- Further drilling is planned to test the validity of the exploration target, potentially to estimate a JORC compliant mineral resource, and is expected to be completed in mid 2018.
- Note: the potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
To view the full presentation, please visit:
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.
Thomson Resources Ltd