Quarterly Activities Report
- Bygoo North Tin drilling continues to deliver excellent results
- New high grade tin discovery at Bygoo South
- Thomson Resources named as finalist for "Explorer of the Year"
- Further drilling planned at Bygoo; drilling also planned for Wilga Downs VMS
BYGOO NORTH TIN PROSPECT
Thomson Resources (ASX:TMZ) has now carried out three drilling programs at its Bygoo North discovery, including one in the latest quarter (see Thomson's ASX release of April 21st). Each program has intersected high grade tin on an east-west trending greisen in the roof zone of the Ardlethan granite. The zone is open to the east, west and down dip and has clear exploration upside. Further drilling is planned.
Significant intersections recorded to date can be viewed in the Table, in the link below.
These intersections are believed to lie within the east-west greisen zone with the "True Width" estimated by 3D modelling of the zone.
In addition, there are several intersections of high grade tin outside this zone which represent targets for further follow up (e.g. a lower intercept in BNRC13 of 10m at 2.0% Sn from 108m down hole).
BYGOO SOUTH TIN PROSPECT
Thomson has also commenced exploration at other prospects in the Bygoo area, with immediate success at Bygoo South. Drilling under shallow historical workings yielded an intercept of 8m at 1.3% Sn from 57m down hole (see ASX Release of April 21st, 2016). Further drilling is needed under the old workings as well as in the 400m gap zone between the North and South prospects. Drilling is also being planned for the Big Bygoo prospect which lies a further 1500m to the south towards the Ardlethan tin mine.
NSW EXPLORER OF THE YEAR
The NSW Minerals Council has announced that Thomson Resources is one of four finalists for the award. The winner will be announced on May 4th at the 2016 NSW Minerals Council Exploration Forum to be held in Parliament House, Sydney.
WILGA DOWNS VMS (Copper-Zinc) PROSPECT
Thomson is well advanced in planning to drill its outstanding copper-zinc VMS prospect at Wilga Downs on EL 8136. The prospect lies in the same age rocks as the Tritton copper VMS deposit - the Early Ordovician Narrama Formation. The lithologies, metamorphosed siltstone and basalt, are also similar to the Tritton area. Like Tritton, the prospect is marked by magnetic highs and strong ground and airborne electromagnetic (EM) geophysical anomalies.
The prospect has had only two drill holes in the vicinity, drilled in the 1970s by AMAX and CRAE, but neither tested the EM anomaly. Significantly, both had anomalous copper, lead and zinc (up to 0.2% Cu, 0.5% Pb and 0.7% Zn) indicating a potential halo to economic mineralisation. The planned drilling targets the centre of the conductive plate modelled from the ground EM survey.
Details of the historical and planned drilling and EM anomalies were released in Thomson's announcement of 22 July 2015.
CO-OPERATIVE DRILLING GRANTS
Thomson has reapplied for grants in Round 2 of the NSW Government's New Frontiers Cooperative Drilling program. Grants were awarded to three of Thomson's projects in Round 1 (Mt Jacob, Cuttaburra A and B), but were not sufficiently attractive to support drilling at that time. Round 2 promises increased support to 100% of direct drilling costs and will help a decision to develop these promising projects.
Details of the Round 1 drilling grants were released in Thomson's quarterly report for September 2014.
Thomson is exploring 729 square kilometres over nine granted titles, with an interest in six other tenements (513 square km) under joint venture arrangements with companies including Kidman Resources (ASX:KDR), Silver Mines Ltd (ASX:SVL) and Variscan Mines Ltd (ASX:VAR) as well as private investors.
Exploration expenditure incurred during the quarter totalled $92,000. Cash at the end of the quarter was $178,000. Thomson has continued to implement cost cutting measures with further substantial cuts made to salaries, overheads and directors fees.
Thomson has no debt and had 95,303,306 shares on issue at quarter end; and issued a further 1,241,850 ordinary shares at 5.0 cents per share on 7 April 2016 to Australian Mineral and Waterwell Drilling PL as consideration for drilling charges.
To view complete report, 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.
Variscan Mines Limited
Thomson Resources Ltd
Silver Mines Limited
Kidman Resources Limited