Quarterly Activities Report for June 2016
- Follow up drilling at the Bygoo tin discoveries planned.
- Further tin anomalies identified
BYGOO TIN PROSPECTS
Planning is well advanced to follow up Thomson Resources (ASX:TMZ) tin discoveries at Bygoo North and South. Further modelling after the third round of drilling resulted in the estimation of an Exploration Target (as defined in the JORC Code, 2012) for the Bygoo Project. The Exploration Target estimated is 0.9 to 1.44 million tonnes of ore at 0.8% to 1.4% Sn (7,200 to 20,100 tonnes of contained tin). 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. The Exploration Target is based on three rounds of drilling by Thomson Resources over the past year as detailed in public reports (see JORC Table data below).
Drilling is planned to test the validity of this Target and to convert it to resource status. This drilling is planned to commence in the September quarter.
OTHER TIN PROSPECTS
Thomson has been researching other tin prospects in the Ardlethan region, with a view to including them in the forthcoming drill program. In particular it is intended to include Big Bygoo and Bald Hill in the forthcoming program.
- Big Bygoo
This area lies around 2 kilometres south of the discoveries at Bygoo North and South. The prospects occur as outcropping greisens running for several hundred metres each and separated by areas of shallow cover, including cropped areas (Figure 1 in link below). The prospects are interpreted to be joined by mineralised structures. Notably, all of the prospects lie well within the Ardlethan Granite, whose boundary runs north-south a little east of Big Bygoo. As the Ardlethan Granite dips towards the east, prospective roof-zone greisens, as discovered at Bygoo North, may lie further east under cropped land and this possibility has not been tested to date.
Many old workings have been sunk on the outcropping greisens with active mining taking place between 1912 and 1939. According to Mine Records at least 10,600 tons of ore was mined from shallow depths, containing around 200 tons of tin.
Magnum Exploration explored the Big Bygoo, Temora Line and Lone Hand prospects in the early 1970s (EL 347). Magnum drilled 10 percussion and two diamond drill holes for a total of 875 metres. The percussion holes were all drilled vertically and many were abandoned before target depth. The follow up diamond holes yielded an intersection of 3.3 m at 0.9% Sn in a tourmaline greisen. This intersection was not followed up and this hole (DDH1, Figure 1) is considered the only effective drill hole in the area.
- Bald Hill
This area lies around 10 kilometres south of the Ardlethan Mine and is very similar to the Big Bygoo area, with many old workings scattered over a 1000m x 500m area. Like Big Bygoo the old workings are shallow with only a small amount of tin recorded as produced.
Shell Minerals drilled 15 shallow RAB and 3 diamond holes here between 1977 and 1982: again this is considered lightly tested. However, Bald Hill features a substantial alluvial tin deposit on its northern slopes. This indicates the potential for a considerable, as yet undiscovered, hard rock tin deposit. Drilling is planned to test the various outcropping greisen zones.
- Co-operative Drilling Grants
The NSW Government is planning to announce the award of New Frontiers Cooperative Drilling program Round 2 grants in July 2016. Thomson has applied for grant support for four projects (Mt Jacob, Cuttaburra A and B, F1).
- Tenement Holdings
Thomson is exploring 628 square kilometres over eight granted titles, with an interest in six other tenements (484 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 $67,000. Cash at the end of the quarter was $152,000.
Thomson has no debt and had 99,005,156 shares on issue at quarter end.
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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