- Thomson Resources (TMZ) acquires the Silver Spur Mine in Queensland from private company Cubane Partners
- Now the acquisition is complete, Thomson controls 100 per cent of the Texas Silver District which has produced around 3.6 million ounces of silver
- Historical drilling at the mine returned high-grade silver, zinc, lead and copper and confirmed the mineralised shoot remains open and untested below 200 metres
- Thomson is now on track to deliver a mineral resource estimate in Q1 2022
- Shares in Thomson were unchanged, trading at 6.1 cents at 12:42 pm AEDT
Thomson Resources (TMZ) has acquired the Silver Spur Mine from private company Cubane Partners.
The Silver Spur Mine is situated in Southern Queensland and produced roughly 100,000 tonnes of ore averaging 800 grams of silver per tonne (g/t) as well as zinc, lead and copper.
It is located within Southern Queensland’s Texas Silver District which has produced around 3.6 million ounces of silver as well as significant zinc, lead and copper.
Now that the acquisition is complete, Thomson controls 100 per cent of this district.
Thomson and Cubane entered a definitive agreement on August 10 to acquire mining lease 5932 that covers the Silver Spur Project.
Historical drilling at the mine returned high-grade silver, zinc, lead and copper and confirmed the mineralised shoot remains open and untested below 200 metres.
Executive Chairman David Williams is pleased with the completion of the acquisition.
“The last piece of the foundation for the New England Fold Belt Hub and Spoke strategy is now within our ownership, which will assist enormously as we continue to work up the central processing facility concept,” Mr Williams said.
“Much has been happening behind the scenes and we are set to see a busy 2022.”
Thomson is now on track to deliver a mineral resource estimate in Q1 2022.
Shares in Thomson were unchanged, trading at 6.1 cents at 12:42 pm AEDT.