Thomson Resources (ASX: TMZ, OTCQB: TMZRF) reports that it has identified a series of untested chargeability anomalies following a 37.8 line-km DDIP geophysical survey at its ‘underexplored’ Texas Silver and Base Metals Project in southern Queensland.
Results from the survey have pinpointed seven anomaly clusters, which the company says hold similar geophysical responses, and are in similar geological settings to the Silver Spur and Twin Hills deposits.
The DDIP initiative is the first step in the company’s new district-scale systematic exploration campaign at its 100% owned Texas Project, which forms part of its New England Fold Belt Hub & Spoke strategy.
Speaking on the news, Thomson Resources Executive Chairman David Williams said: “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’.
“The outcomes of this survey demonstrate, yet again, the benefits we are seeing from the patient and thorough work done to date”
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 multi- purpose 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 notes that the survey results support the view that the district is prospective for the discovery of additional “Twin Hills”-style near-surface bulk mineable sediment-hosted epithermal silver (gold) mineralisation, along with Silver Spur-style high-grade structurally controlled silver-zinc (copper, lead, gold) deposits.
The Texas silver project houses a turn-key heap leach plant for silver extraction, along with existing ‘significant’ low grade JORC 2012 silver resources at the Twin Hills and Mt Gunyan deposits.
The company also controls the nearby Silver Spur Mining Lease ML 5932, which includes the ‘high-grade’, historic Silver Spur Mine.
Moving forward Thomson reports that it is working on rock chip sampling, along with drill-target generation and drill pad preparation.
A multipurpose RC/diamond rig is scheduled to commence operation in June 2022.
Images: Thomson Resources Ltd
