Join our daily newsletter At The Bell to receive exclusive market insights
- Thomson Resources (TMZ) releases a total silver equivalent indicated and inferred mineral resource estimate of 19.5 million ounces for a trio of deposits at its Texas District project in southern Queensland
- The company says its new geological deposit models and metallurgical test work deliver higher-confidence resource models and highlight a series of compelling drill targets to test for extensions of known mineralisation
- Executive Chairman David Williams says the company now has “a clear view on what robustly sits in each deposit”
- It is now undertaking a large geophysics program to identify targets for a planned drilling program
- TMZ shares up 0.83 per cent to 6.1 cents
Thomson Resources (TMZ) has announced a total silver equivalent indicated and inferred mineral resource estimate (MRE) of 19.5 million ounces for a trio of deposits at its Texas District project in southern Queensland.
The MRE is made up of the project’s Twin Hills, Mt Gunyan and Silver Spur deposits.
The company said it considered Texas District to be a large, under-explored silver polymetallic district with total recorded historic silver production of 4.2 million ounces.
Twin Hills weighed in at 6.1 million tonnes (Mt) grading 52 grams per tonne silver equivalent for 10.3 million ounces of contained silver equivalent, Mt Gunyan 4.5Mt at 41 g/t silver equivalent for 5.9 million ounces and Silver Spur 660,000 tonnes at 156 g/t silver equivalent for 3.3 million ounces.
Thomson said its new geological deposit models and metallurgical test work provided higher-confidence resource models and highlighted a series of compelling drill
targets to test for extensions of known mineralisation.
“This has been no simple task, but we know the output is supportable and what we have is robust, a great credit to the AMC Consultants and Global Ore team,” Thomson Executive Chairman David Williams said.
“As a result, we have we now have a clear view on what robustly sits in each deposit and more importantly where the gains can be found. A clearer picture has emerged of where higher-grade resources are likely to be found and how we can best extract the value from them.”
The company said a large geophysics program designed to identify targets for a planned drilling program prioritising high-grade Silver Spur-style targets in the second quarter of 2022 was under way.
TMZ shares were up 0.83 per cent at 6.1 cents at 11:26 am AEDT.
