Thomson Resources Ltd (ASX: TMZ) has announced an updated indicated and inferred JORC 2012 mineral resource estimate for its Conrad Silver Project in Northern NSW, delivering 3.33 Mt @ 193 g/t silver equivalent, for a contained 20.72 Moz.
With 51% of the resource now in the indicated category, this is the first MRE for Conrad reported in accordance with JORC 2012, and has delivered a more robust, higher confidence estimate.
The company reports that there is potential to expand the resource via step out and down plunge drilling, with higher-grade mineralisation remaining open at depth beneath five of six shoots, and along strike adjacent to two shoots.
Historical Conrad Mine
The Conrad Mine is one of the New England region’s largest historical silver producers, responsible for approximately 3.5 Moz of silver output at an average grade of 600 g/t Ag, along with significant co-production of lead, zinc and copper.
The Conrad lode was discovered in 1888, with underground mining operating from 1891 until 1912. A second phase of mining activity began in 1947, and ran through until 1957.
28,890 metres of drilling, comprised of 8% reverse circulation and 92% diamond core was undertaken between 2002 and 2010 by the previous owner.
New England Fold Belt Hub and Spoke strategy
The Conrad MRE is the first in a series of new and updated JORC 2012 mineral resource estimates scheduled for 2021, which will include the company’s 100%-owned Texas (Twin Hills, Mt Gunyan), Silver Spur, and Webbs projects.
These projects form the core of the New England Fold Belt Hub and Spoke strategy, which is aimed to establishing a minimum 100 Mz AgEq resource base as an initial step in Company’s central processing strategies.
“We are very pleased to deliver this strong outcome for the Conrad project”
Management comments
Thomson Resources Executive Chairman David Williams said: “We are very pleased to deliver this strong outcome for the Conrad project with a 20.72 Moz AgEq Mineral Resource Estimate within an Optimised Pit and underground mining configuration, and a significant upgrade of the resource confidence, with 51% in the higher confidence indicated category.
Thomson is now firmly focused on delivering metallurgical results and new MRE’s reported in accordance with the 2012 JORC Code for the Texas, Silver Spur and Webbs projects, as the next milestones toward our objective of aggregating 100 Moz silver equivalent resource available to the New England Fold Belt Hub and Spoke central processing strategy.”
Images: Thomson Resources Ltd
