Thomson Resources (ASX:TMZ) reports the final batch of assay results just received from the 2022 drilling program at the Thomson’s 100% owned Bygoo Tin project.
The company reports that while inclement weather curtailed some ability to drill, the limited number of holes continued to deliver ‘outstanding’ results.
The results are from the last batch of assays cover the final 3 holes of the 2022 drilling program at the project, located in the Lachlan Fold Belt in New South Wales, and show further strong mineralised sections of the greisens have been intersected.
This completes the result reporting for the 2022 drill program at Bygoo. Unfavourable weather, supply chain issues, and sowing of crops in the paddock meant that the program was not completed and all five mineralised greisens – Main, Stewarts, Dumbrells, P380 and Smiths – remain open.
Thomson Resources reports that drilling will restart as soon as possible to extend these zones and work towards a maiden JORC resource.
Commenting on the results, Executive Chairman David Williams said: “Given the weather conditions during the planned 2021/2022 drilling program severely curtailed the period available to us to drill, the limited number of holes were very pleasing with the continuation of outstanding results.
“the limited number of holes were very pleasing with the continuation of outstanding results”
Hopefully the weather will be kinder to us for the 2022/23 season and we can complete the desired programs.
Whilst the tin prices have come off from the highs earlier in the year, they are still significantly higher than 2 or more years ago.”
The company reports an ‘exceptional’ result was returned from up-dip drilling on the “P380” greisen. This is a relatively newly defined zone which appears to sit about 50m north of, and parallel to, the east-west striking Main zone at Bygoo. It is named after an historic hole, P380, drilled by Cominco in joint venture with the Ardlethan Mine operators in 1976.
The historic P380 hole intersected 18m at 0.5% Sn from 153m downhole and Cominco terminated their interest in the area soon after. Thomson has had some issues locating these old historic holes as they were drilled in a cropped paddock on a local grid.
Thomson Resources notes that P380 was drilled east to west and this suggested that the hole may have skimmed the side of an east-west striking zone. Accordingly, in the 2021 drilling program, BNRC73 was drilled by Thomson north to south, 50m up-dip of P380 and intersected 23m at 1.4% Sn.
This result encouraged the drilling of the 2022 hole BNRC85 which had a significant intercept of 26m at 2.1% Sn from 94m depth. This hole was drilled a further 40m up-dip of hole BNRC73.
This intersection includes an ‘exceptionally high-grade’ interval of 6m at 5.0% Sn from 104m depth.
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.
Thomson’s key projects underpinning this strategy have been strategically and aggressively acquired 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-base metals 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.