- Thomson Resources (TMZ) has provided an update on the Silver Spur Project which is located in the prolific Texas Silver District of Queensland
- Last month, the company announced it will acquire the project and has since been reviewing historical data and undertaking metallurgical testwork
- Initial tests have shown pleasing recoveries and high-grade concentrates of silver, lead, copper and zinc
- Next month, Thomson will deliver the final drill database with metallurgical results and a new geological model to its resource consultants who will complete a mineral resource estimate
- Company shares ended the day trading steady at 11 cents
Thomson Resources (TMZ) has provided an update on the Silver Spur Project which is located in southern Queensland.
At the start of August, the company signed a deal with Cubane Partners to acquire the Silver Spur Mine which sits within the Texas Silver District.
Once the acquisition is final, Thomson will own a complete interest in the district which is a key part of TMZ’s New England Fold Belt hub and spoke processing strategy. It aims to put together a consolidated 100-million-ounce gold equivalent JORC-compliant mineral resource estimate as an initial milestone of its strategy.
Executive Chairman David Williams commented on the project.
“We were always keen to acquire the Silver Spur ML as it contained the original Silver Spur silver mine, which, given the richness of its grades is what kicked started this whole prolific silver producing district back in the late 19th century,” he said.
“Our initial work on the location and study of the historic drill core just reinforces the potentiality of this area being a key deposit in our New England Fold Belt Hub and Spoke strategy. As a result, we’re keen to advance Silver Spur to be the next of Thomson’s mineral resource estimation and the first in the 100 per cent controlled Texas Silver District.”
As part of the acquisition, the company has been reviewing previous data and conducting testwork.
Thomson took around 63 kilograms of mineralised diamond drill core stored at its Texas silver mine core facility and put these into three samples. Initial results have shown pleasing recoveries and grade in concentrate of more than 80 per cent silver, 90 per cent zinc and copper and lead recovered a mass pull of 30 per cent.
The second stage of the concentrate testwork is in progress and results are expected in the next few weeks. This will determine if the sulphide mineralisation can be further improved to produce a high-grade zinc concentrate.
Reviewing historical drilling data highlighted significant silver and zinc.
Results include 18 metres at 92.7 grams of silver per tonne (g/t), 0.48g/t gold, 4.07 per cent zinc, 0.87 per cent lead and 0.2 per cent copper, and 1310g/t silver, 1.54g/t gold, 3.16 per cent zinc, 0.92 per cent lead and 0.08 per cent copper.
Next month, Thomson plans deliver the final validated drillhole database with completed initial metallurgical results and a new geological model to its resource consultants. They will then complete a mineral resource estimate.
Company shares ended the day trading steady at 11 cents.