- Thomson Resources (TMZ) is on track to complete a new mineral resource estimate for its Texas Project in southern Queensland before the end of the March quarter this year
- The company is leveraging a large collection of historical mining and exploration data to help define new resource estimates for the Silver Spur, Twin Hills and Mt Gunyan deposits
- Thomson Chair David Williams says the company has made a point of not simply “rubber-stamping” previously published resource estimates but reviewing and validating the data
- The Texas Project is home to the prolific Twin Hills silver-gold deposit, of which only around a quarter of the known sulphide deposit has been mined, according to Thomson Resources
- Shares in Thomson Resources are up 6.25 per cent at 1:57 pm AEDT to trade at 6.8 cents each
Thomson Resources (TMZ) is on track to complete a new mineral resource estimate for its Texas Project in southern Queensland before the end of the March quarter this year.
The minerals explorer said it was leveraging the “millions of dollars” invested in exploration across the area by previous operators to define resource estimates for the Twin Hills, Mt Gunyan and Silver Spur deposits within the project area.
Historically, the Texas Project has produced 4.2 million ounces of silver, 690 tonnes of zinc, 1050 tonnes of lead and 990 tonnes of copper by previous operators. Meanwhile, previous exploration has highlighted silver-gold-base metal resources at the Silver Spur, Twin Hills and Mt Gunyan deposits.
Thomson Chair David Williams said given the quantity of historical data for the Texas Project area, the company has made a point of not simply “rubber-stamping” previously published resource estimates.
“Instead, we have gone back to scratch and completely reviewed and validated the database of historic exploration results in order to provide us with a complete and well-informed picture of what we have and where the potential lies to increase the MREs,” Mr Williams said.
“This was accompanied by extensive relogging of all samples, including some reassaying, and geological mapping.”
He said though this strategy had taken some time, it had provided the company with a better understanding of what is going on in the Texas Project district.
“The extensive work done now has us at the stage where we can start the calculations of the MREs for Twin Hills and Silver Spur and will soon start for Mt Gunyan so that we will have the complete Texas district-scale picture.”
The Texas Project is home to the prolific Twin Hills silver-gold deposit, of which only around a quarter of the known sulphide deposit has been mined, according to Thomson Resources.
Through its relogging of over 21,000 metres of historical drilling in the area, Thomson has today flagged some standout intersections from the unmined part of the deposit.
These intersections include a 36-metre hit at 180.2 grams per tonne (g/t) silver and 0.42 g/t gold from 66 metres, which included a 22-metre zone grading 267 g/t silver and 0.61 g/t gold.
Another standout intersection is a 32-metre hit at 210.1 g/t silver and 0/37 g/t gold from 32 metres.
Shares in Thomson Resources were up 6.25 per cent at 1:57 pm AEDT to trade at 6.8 cents each. The company has a $39.5 million market cap.