Thomson Resources (ASX: TMZ) (OTCQB: TMZRF) (Thomson or the Company) is pleased to advise that it has recently completed a 37.8 line-km DDIP geophysical survey at the Texas Silver Base Metals Project, identifying multiple untested chargeability anomalies defining 7 anomaly clusters with similar geophysical responses and in similar geological settings to the Silver Spur and Twin Hills deposits (Figure 1). The DDIP program is an initial step in a new district-scale systematic exploration program that the Company is undertaking at its 100% owned Texas silver base metal district in southern Queensland. Thomson views Texas as a large under explored silver base metal district.
The results of the DDIP survey support the view that the district is prospective for the discovery of further 'Twin Hills' like near surface bulk mineable sediment-hosted epithermal silver (gold) mineralisation and Silver Spur like high-grade structurally controlled silver - zinc (copper, lead, gold) deposits. Thomson is finalising drill targeting and drill pad preparation and will prioritise drilling of targets adjacent to the historic high-grade silver - zinc - copper - lead Silver Spur mine. A multipurpose drill rig has been contracted to test these targets with a planned start update in June 2022.
Executive Chairman David Williams commented: 'This IP geophysical survey has produced some very exciting and outstanding results. Yes, it is always a matter of waiting to see what the drilling actually produces, but the correlation to the Twin Hills and Silver Spur deposits do make them, as our geoscientists say, 'compelling high priority targets'.' 'I am very much looking forward to riding the drill bits down on the drilling of these targets.' 'The outcomes of this survey demonstrate, yet again, the benefits we are seeing from the patient and thorough work done to date by the Thomson team and, particularly, by our consultants, Global Ore Discovery.'
'It is also exciting to know that our shareholder, AMWD, is in the process of mobilising its multipurpose drill rig to Texas after having completed the Lachlan Fold Belt drill program for Thomson.' 'To soon be starting our own drill program in the New England Fold Belt Hub and Spoke project with the objective of expanding our Texas resource base, is another major milestone achieved.'
Thomson's Texas Silver IP Geophysics Survey
Planetary Geophysics was engaged by Thomson to complete a DDIP geophysical survey between December 20216 and April 2022.The DDIP survey was designed to test a 4.3 km long strike projection of the Stokes Fault system that encompasses both the Silver Spur and Twin Hills deposits. Recent geological evaluation and deposit modelling by Thomson's geoscience consultants, Global Ore Discovery, has shown that Stokes Fault has acted as an important hydrothermal feeder structure to the Silver Spur and Twin Hills mineralisation and so has been targeted for this phase of exploration. Additionally, the Texas deposits host significant sulphide mineralisation and pyrite bearing alteration halos that manifest as strong chargeability anomalies in the DDIP geophysics, making IP an ideal technique for targeting concealed mineralisation in this district. The Texas DDIP survey consists of 20 east-west oriented lines ranging between 600 m and 3.6 km long, for a total of 37.8 line-km Survey line spacing ranged from 40 m to 500 m, utilising a 50 m dipole spacing. 2D and 3D inversion modelling of raw survey data was undertaken by RAMA Geoscience consultants. In the southern half of the survey area (lines 6805100N to 6807300N), the line spacing was reduced to between 40 and 210 meters to identify concealed smaller footprint chargeability anomalies that could represent extension of the Silver Spur resource2 or new 'Silver Spur' like targets. This line spacing was sufficiently close to support generation of a 3D block model of the chargeability and resistivity for this part of the survey. In the northern half of the survey area (lines 6807700N to 6808900N) line spacing was 300 to 500 meters apart targeting extensions of the Twin Hills deposit to the north of the known deposit and covered Twin Hill like targets to the north and south of the deposit.
District Scale Exploration Model and Targets
Thomson's geoscience consultants used the deposit knowledge gained from recent Mineral Resource Estimate work2,3,4 to compile a new deposit model for the district (Figure 3) that will be used to guide exploration and prioritise targets for drill testing. The Texas district hosts a range of deposits styles. Silver dominant deposits like Twin Hills, silver base metal bearing deposits like Mt Gunyan, silver - zinc dominant deposits like Silver Spur and copper rich deposits like the Hornet prospect (historic Texas copper mine) that has returned historic drill intersections of up to 10 m @ 1.27% Cu, including 2 m at 4.9% Cu (hole HORC009 from 154 m)7,8 . Analysis of the sulphide, alteration assemblages and metal ratios present in these deposits suggest they formed over a range of crustal depths from shallower epithermal through to deeper level epizonal levels but are best explained as manifestations of a district scale mineralising event that has been exposed by erosion at different levels in the mineral system across the district. Analysis of current resources2 and historic production9 show that the pre-mining the Twin Hills deposit would have contained approximately 8 to 10 Mt at 55 to 60 g/t Ag for an approximate contained 14 - 19 Moz Ag. Production through the end of mining shows the Twin Hills deposit had a near surface higher grade core of 1.9 Mt at 71 g/t Ag for 4.4 Moz of silver9 . Current resources2 and estimated historic production10 combined suggested that pre-mining the Silver Spur deposit contained
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The information in this report that relates to Exploration Results is based on, and fairly represents, information compiled by Stephen Nano of Global Ore Discovery Pty Ltd geoscience consultants to Thomson Resources. Stephen Nano and Global Ore Discovery Pty Ltd have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Stephen Nano is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM No: 110288). Mr Nano is a Director of Global Ore Discovery Pty Ltd, an independent geological consulting company and consents to the inclusion in this report of the matters based on that information in the form and context in which it appears. Mr Nano and Global Ore Discovery Pty Ltd own shares in Thomson Resources. No New Information or Data: This announcement contains references to exploration results, Mineral Resource estimates, Ore Reserve estimates, production targets and forecast financial information derived from the production targets, all of which have been cross-referenced to previous market announcements by the relevant Companies. Thomson confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements. In the case of Mineral Resource estimates, Ore Reserve estimates, production targets and forecast financial information derived from the production targets, all material assumptions and technical parameters underpinning the estimates, production targets and forecast financial information derived from the production targets contained in the relevant market announcement continue to apply and have not materially changed in the knowledge of Thomson. This document contains exploration results and historic exploration results as originally reported in fuller context in Thomson Resources Limited ASX Announcements - as published on the Company's website. Thomson confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements. In the case of Mineral Resource estimates, Ore Reserve estimates, production targets and forecast financial information derived from the production targets, all material assumptions and technical parameters underpinning the estimates, production targets and forecast financial information derived from the production targets contained in the relevant market announcement continue to apply and have not materially changed in the knowledge of Thomson. Disclaimer regarding forward looking information: This announcement contains 'forward-looking statements'. All statements other than those of historical facts included in this announcement are forward looking statements. Where a company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements re subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. Neither company undertakes any obligation to release publicly any revisions to any 'forward-looking' statement
ABOUT THOMSON RESOURCES
Thomson Resources holds a diverse portfolio of minerals tenements across gold, silver and tin in New South Wales and Queensland. The Company's primary focus is its aggressive 'New England Fold Belt Hub and Spoke' consolidation strategy in NSW and Qld border region. The strategy has been designed and executed in order to create a large precious (silver - gold), base and technology metal (zinc, lead, copper, tin) resource hub that could be developed and potentially centrally processed. The key projects underpinning this strategy have been strategically and aggressively acquired by Thomson in only a 4-month period. These projects include the Webbs and Conrad Silver Projects, Texas Silver Project and Silver Spur Silver Project, as well as the Mt Carrington Gold-Silver earn-in and JV. As part of its New England Fold Belt Hub and Spoke Strategy, Thomson is targeting, in aggregate, in ground material available to a central processing facility of 100 million ounces of silver equivalent. In addition, the Company is also progressing exploration activities across its Yalgogrin and Harry Smith Gold Projects and the Bygoo Tin Project in the Lachlan Fold Belt in central NSW, which may well form another Hub and Spoke Strategy, as well as the Chillagoe Gold and Cannington Silver Projects located in Queensland. Thomson Resources Ltd (ASX: TMZ) (OTCQB: TMZRF) is listed on the ASX and also trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.
THOMSON RESOURCES LTD 