Thomson Resources (ASX:TMZ) reports it has commenced drilling at the historic ‘high-grade’ Silver Spur mine located at the 100%-owned Texas Silver Project in southeast Queensland.
The company said the launch of the reverse circulation (RC) and diamond drill (DD) program at the Texas silver-base metal project comes after it recently completed a large dipole-dipole induced polarisation (DDIP) survey.
The DDIP survey highlighted seven clusters of strongly anomalous chargeability anomalies that have not been previously drill tested.
Thomson reports the target cluster is centred on the historic Silver Spur mine where mineralisation is closely associated with the northwest trending Stokes Fault that links Silver Spur to the Twin Hills deposit.
The drilling program, which is being conducted by Thomson’s shareholder, Australian Mineral & Waterwell Drilling (AMWD), will target extensions to the current Silver Spur resource, as well as compelling near resource exploration targets.
AMWD will be using the same multi-purpose rig that recently completed a drilling program for Thomson on the company’s 100%-owned Lachlan Fold Belt projects in NSW.
Commenting on the works program, Executive Chairman David Williams noted: “This initial drill program will be testing high-priority targets at the Silver Spur deposit.
“this initial drill program will be testing high-priority targets at the Silver Spur deposit”
This is the culmination of extensive work conducted by Thomson Resources and its geological consultants and technical team as part of developing Thomson’s Mineral Resource Estimates (MREs) for the Texas deposits and the outcome of the geophysical surveys and geological studies it has undertaken to unlock the significant exploration potential of the area.
We look forward to reporting the results from this initial drill program over the coming weeks and months.”
Over the past 12 months Thomson has reported Indicated and Inferred MREs at a 25 g/t Ag-Eq cutoff for the Texas district deposits (Silver Spur, Twin Hills and Mt Gunyan) totalling a combined 19.5 Moz Ag-Eq.
This is part of the larger combined Tablelands and Mt Carrington polymetallic resource base controlled by Thomson that currently totals 22.8 Mt at 119 g/t Ag-Eq for a total resource base of 87.1 Moz of AgEq for MREs published by Thomson.
Images: Thomson Resources Limited