(MENAFN- ABN Newswire) More Tin at Bygoo, NSWSydney, Nov 8, 2017 AEST (ABN Newswire) - Thomson Resources Ltd () provides the Company's latest Presentation to Beer and Co 5th International Tin Conference.
Thomson Resources - funding
- Farm-In agreement signed with a North American private investor who can earn 51% of the Bygoo Project by contributing A$3 million
- The investor will also have an option for an additional 25% interest of the project for A$22 million
- A$790,000 received to date
- Further staged payments are due monthly through to end February 2018, with a final payment to reach the cumulative $3 million due on or before June 30, 2018
- 3 tenements covered by the agreement in the Wagga Tin Belt: one surrounds the Ardlethan world class tin mine
- Other tenements in highly prospective regional setting
Bygoo Exploration Target
- Exploration Target of 0.9 to 1.4 million tonnes at 0.8 to 1.4% Sn (7,200 to 20,100 tonnes of contained tin)
- Grade estimate:
o average grade in mineralised zones is 1.4% Sn
o 182 metre splits in Thomson drilling previously reported - 9 drill holes over 100m
o Cut-off 0.2% Sn, internal waste up to 3m, maximum grade 11.1%
o Grade range for target - 0.8% (median) to 1.4% (average)
- Bygoo North true width estimates previously reported:
o range from 4-10m, average 7m; use 5 to 8m for exploration target
- Bygoo North strike extent drilled to date 100m; potential to triple to 300m
- Bygoo North dip extent drilled to date 40m; potential to double to 80m
- Potential for repeats - Bygoo South plus structures seen in magnetics (two at least - discounted to half the size of Bygoo North)
- 2.5 specific gravity applied to estimate tonnage from volume - SG of granite, rhyolite
- Further drilling is planned to test the validity of the exploration target, potentially to estimate a JORC compliant mineral resource, and is expected to be completed in mid 2018.
- Note: the potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
To view the full presentation, please visit:
About Thomson Resources Ltd
() is an NSW active mineral explorer. Thomson has several tin projects (including an advanced project near Ardlethan), as well as gold, copper and zinc targets in a range of settings. Thomson has a good record of discovery, with multiple new Intrusion-Related Gold (gold with copper, lead, zinc, molybdenum, tungsten) systems discovered in the Thomson Fold Belt in the NW of the state.
MENAFN0811201701110000ID1096054243
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.