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- Thomson Resources’ (TMZ) auger drilling program at the Queensland-based Chillagoe Project is progressing well and is almost completed
- Drilling is part of due diligence work being carried out under a deal which will see Bacchus Resources acquire the project
- As of November 10, 240 out of 450 holes had been drilled to target 10 prospect areas
- While assays are yet to be received, previous rock chip sampling work has confirmed anomalous gold and copper at the Laverock prospect
- This provides further encouragement for copper potential at Chillagoe, as well as the already known gold potential
- Company shares are currently trading flat at 12 cents
Thomson Resources’ (TMZ) auger drilling program at the Chillagoe Project is progressing well and is almost completed.
The Chillagoe Project — also referred to as the Queensland Gold Project — is located in far north Queensland, 150 kilometres west of Cairns.
The program is part of of due diligence work that is being carried out under a deal which will see Bacchus Resources acquire the project.
As of November 10, 240 out of 450 holes had been drilled to target 10 prospect areas within the project.
Bacchus Resources has previously conducted rock chip sampling work which focused on the Laverock prospect. This work confirmed anomalous gold and copper of up to 5.0g/t gold and 1.3 per cent.
Further, rock chips collected during the current auger drilling program at Laverock have shown the presence of copper oxide azurite which indicates weathered copper sulphide ores.
Thomson is encouraged by these findings as they reinforce the copper potential at the project, as well as the already known gold potential.
Samples are being collected and first assay results are expected later this month.
Company shares are trading flat at 12 cents just after midday trade.
