ABN: 82 138 358 728 ASX: TMZ
Level 1, 80 Chandos Street, St Leonards, NSW 2065
PO Box 956, Crows Nest, NSW 1585 Tel: +61 2 9906 6225 Fax: +61 2 9906 5233
Web: www.thomsonresources.com.au
Quarter ending 30 June 2016
Quarterly Report
Highlights
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Follow up drilling at the Bygoo tin discoveries planned.
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Further tin anomalies identified
BYGOO TIN PROSPECTS
Planning is well advanced to follow up Thomson Resources (ASX:TMZ) tin discoveries at Bygoo North and South. Further modelling after the third round of drilling resulted in the estimation of an Exploration Target (as defined in the JORC Code, 2012) for the Bygoo Project. The Exploration Target estimated is 0.9 to 1.44 million tonnes of ore at 0.8% to 1.4% Sn (7,200 to 20,100 tonnes of contained tin). 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. The Exploration Target is based on three rounds of drilling by Thomson Resources over the past year as detailed in public reports (see JORC Table data below). Drilling is planned to test the validity of this Target and to convert it to resource status. This drilling is planned to commence in the September quarter.
OTHER TIN PROSPECTS
Thomson has been researching other tin prospects in the Ardlethan region, with a view to including them in the forthcoming drill program. In particular it is intended to include Big Bygoo and Bald Hill in the forthcoming program.
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Big Bygoo
This area lies around 2 kilometres south of the discoveries at Bygoo North and South. The prospects occur as outcropping greisens running for several hundred metres each and separated by areas of shallow cover, including cropped areas (Figure 1). The prospects are interpreted to be joined by mineralised structures. Notably, all of the prospects lie well within the Ardlethan Granite, whose boundary runs north-south a little east of Big Bygoo. As the Ardlethan Granite dips towards the east, prospective roof-zone greisens, as discovered at Bygoo North, may lie further east under cropped land and this possibility has not been tested to date.
Thomson Resources Quarterly Report
ASX code: TMZ
Many old workings have been sunk on the outcropping greisens with active mining taking place between 1912 and 1939. According to Mine Records at least 10,600 tons of ore was mined from shallow depths, containing around 200 tons of tin.
Magnum Exploration explored the Big Bygoo, Temora Line and Lone Hand prospects in the early 1970s (EL 347). Magnum drilled 10 percussion and two diamond drill holes for a total of 875 metres. The percussion holes were all drilled vertically and many were abandoned before target depth. The follow up diamond holes yielded an intersection of
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m at 0.9% Sn in a tourmaline greisen. This intersection was not followed up and this hole (DDH1, Figure 1) is considered the only effective drill hole in the area.
Figure 1: Big Bygoo area, showing rock outcrops, workings and historic drilling.
Drilling is planned to test each of the three prospects as well as the potential to the east.
This area lies around 10 kilometres south of the Ardlethan Mine and is very similar to the Big Bygoo area, with many old workings scattered over a 1000m x 500m area. Like Big Bygoo the old workings are shallow with only a small amount of tin recorded as produced. Shell Minerals drilled 15 shallow RAB and 3 diamond holes here between 1977 and 1982: again this is considered lightly tested. However, Bald Hill features a substantial alluvial tin deposit on its northern slopes. This indicates the potential for a considerable,
Thomson Resources Quarterly Report Page 2
as yet undiscovered, hard rock tin deposit. Drilling is planned to test the various outcropping greisen zones.
Co-operative Drilling Grants
The NSW Government is planning to announce the award of New Frontiers Cooperative Drilling program Round 2 grants in July 2016. Thomson has applied for grant support for four projects (Mt Jacob, Cuttaburra A and B, F1).
Tenement Holdings
Thomson is exploring 628 square kilometres over eight granted titles, with an interest in six other tenements (484 square km) under joint venture arrangements with companies including Kidman Resources (ASX:KDR), Silver Mines Ltd (ASX:SVL) and Variscan Mines Ltd (ASX:VAR) as well as private investors.
Corporate
Exploration expenditure incurred during the quarter totalled $67,000. Cash at the end of the quarter was $152,000.
Thomson has no debt and had 99,005,156 shares on issue at quarter end.
Thomson Resources Ltd
Eoin Rothery
Chief Executive Officer
The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Eoin Rothery, (MSc), who is a member of the Australian Institute of Geoscientists. Mr Rothery is a full time employee of Thomson Resources Ltd. Mr Rothery has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Rothery consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Thomson Resources Quarterly Report Page 3
JORC Code, 2012 Edition - Table 1 report Section 1 Sampling Techniques and Data
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Criteria
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Commentary
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Sampling techniques
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For Thomson drilling - 1m intervals were bagged as they were returned from drilling. A three tier hand held riffle splitter was then used to procure laboratory samples in calico bags. Magnum sampling techniques appear standard (Public Report GS1971_279.R00024868 on the NSW Govt. DIGS website).
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Drilling techniques
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Holes were all collared and drilled reverse circulation (RC), with the exception of BNRCD16 which had a diamond tail from 67m Drilling was carried out by Australian Mineral & Waterwell Drilling Pty Ltd.
Magnum drilled 9 RAB/Percussion holes and 2 diamond holes in the Big Bygoo area in 1971. Details were given in Thomson's report of 13 April, 2015.
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Drill sample recovery
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Thomson recoveries are estimated at between 60-100%. Diamond recovery was 95-100%.
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Logging
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All holes were logged for geology.
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Sub-sampling techniques and sample preparation
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No sub-sampling was carried out.
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Quality of assay data and laboratory tests
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Duplicates and standards were submitted by Thomson along with the samples. Initial assessment indicates good quality. Samples were dried and pulverized to
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Verification of sampling and assaying
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No independent verification has been carried out.
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Location of data points
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Thomson drill hole location was by Differential GPS; errors are less than 0.5m. Magnum drill hole location was by reference to maps in the report quoted above as well as conversion of Imperial grid co-ordinates.
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Data spacing and distribution
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The data spacing is irregular.
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Orientation of data in relation to structure
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Most Thomson holes were drilled at a 60˚ dip testing a model of steeply dipping veins and greisen. The Magnum RAB/Percussion holes were all drilled vertically and are considered ineffective; hence they have been omitted from Figure 1.
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Sample security
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No particular security measures were taken.
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Audits or reviews
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No independent audit or review undertaken as this was not thought to be required at this stage.
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Thomson Resources Quarterly Report Page 4