- Thomson Resources (TMZ) reports a 14 million ounce silver equivalent indicated and inferred mineral resource estimate (MRE) for the Webbs Deposit in NSW
- This is the first MRE for Webbs reported in accordance with the JORC 2012 code
- Notably, this is TMZ’s fifth resource grade the company has produced in 12 months
- The company is now planning to drill target areas at Webbs, which is expected to begin in the third quarter of 2022
- TMZ shares are up 7.69 per cent and trading at 2.8 cents per share at 11:48 am AEST
Thomson Resources (TMZ) has reported a 14 million ounce silver equivalent indicated and inferred mineral resource estimate (MRE) for the Webbs Deposit in NSW.
This is the first MRE for Webbs reported in accordance with the JORC 2012 code.
The MRE delivers a total indicated and inferred mineral resource of 2.2 million tonnes at 205 grams per tonne (g/t) of silver equivalent for a total of 14.2 million ounces of silver equivalent at a 30 g/t silver cutoff.
According to TMZ, this is the fifth and final resource upgrade for its Tablelands Group of deposits.
This new MRE, along with Conrad, Silver Spur, Twin Hills and Mt Gunyan, have combined indicated and inferred resources of 16.8 million tonnes at 101 g/t silver equivalent for a total of 54.4 million ounces of silver equivalent.
Webbs is located with Conrad silver project in the New England Fold Belt.
Executive Chairman David Williams said the MRE is the fifth the company has produced in under 12 months.
“This has been an extraordinary effort by the team, led by our key consultants, Global Ore Discovery,” Mr Williams said.
“It must be remembered, these are not rubber stampings, these are new MREs prepared from scratch. Investors can now properly compare Thomson’s project resources with other silver focused companies, with a set of what we know are robust MREs. It makes for interesting consideration of Thomson’s market capitalisation.”
The company is now planning to drill target areas at Webbs, which is expected to begin in the third quarter of 2022.
On the market this morning, TMZ was up 7.69 per cent and trading at 2.8 cents per share at 11:48 am AEST.