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
ASX Release
19 August 2016
New JV over the Wilga Downs EM target
Thomson Resources Limited (ASX:TMZ) is pleased to announce that it has entered into a farm-in and joint venture agreement with Silver City Minerals Limited (ASX: SCI) with respect to its Wilga Downs prospect (Byrock Project, Figure 1) located approximately 80 kilometres north of Cobar, New South Wales.
The agreement is over EL 8136, which hosts a strong and discrete, late-time electromagnetic conductor of the type that could be the geophysical signature of a significant copper sulphide accumulation.
The character of the conductor shows strong similarities to those that led to the discoveries of the Tritton copper-silver-gold deposit in similar rocks to the southeast.
Thomson is pleased to enter into a partnership with an experienced explorer to progress this discovery effort.
Silver City can earn an 80% interest in the project by spending
$800,000 over four years. Silver City has agreed to spend a minimum of $100,000, including 350 metres of drilling before it can withdraw. Once Silver City has earned its 80% interest it will free-carry Thomson Resources until commencement of a definitive feasibility study when both companies will contribute to expenditures pro-rata.
This agreement will allow Thomson Resources to better advance its Bygoo tin discovery near Ardlethan, NSW.
Thomson Resources ASX Release
ASX code: TMZ
The Silver City Minerals Ltd announcement has more detail on the project at http://www.silvercityminerals.com.au/investors/asx- announcements
Eoin Rothery
CEO, Thomson Resources Phone 02 9906 6225
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.
Figure 1: Thomson Resources Projects
Thomson Resources ASX Release ASX code: TMZ