Thomson Resources Ltd (ASX:TMZ) New JV over the Wilga Downs EM Target

Thomson Resources Limited (ASX:TMZ) is pleased to announce that it has entered into a farm-in and joint venture agreement with Silver City Minerals Limited (ASX:SCI) with respect to its Wilga Downs prospect (Byrock Project, Figure 1 in link below) located approximately 80 kilometres north of Cobar, New South Wales.

The agreement is over EL 8136, which hosts a strong and discrete, late-time electromagnetic conductor of the type that could be the geophysical signature of a significant copper sulphide accumulation.

The character of the conductor shows strong similarities to those that led to the discoveries of the Tritton copper-silver-gold deposit in similar rocks to the southeast.

Thomson is pleased to enter into a partnership with an experienced explorer to progress this discovery effort.

Silver City can earn an 80% interest in the project by spending $800,000 over four years. Silver City has agreed to spend a minimum of $100,000, including 350 metres of drilling before it can withdraw.

Once Silver City has earned its 80% interest it will free-carry Thomson Resources until commencement of a definitive feasibility study when both companies will contribute to expenditures pro-rata.

This agreement will allow Thomson Resources to better advance its Bygoo tin discovery near Ardlethan, NSW.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/TQ636122


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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