Thomson Resources Ltd.: New JV over the Wilga Downs EM Target
19.08.2016 | ABN Newswire
Sydne - Thomson Resources Ltd. (ASX:TMZ) is pleased to announce that it has entered into a farm-in and joint venture agreement with Silver City Minerals Ltd. (ASX:SCI) with respect to its Wilga Downs prospect (Byrock Project, Figure 1 in link below) 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.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/TQ636122
About Thomson Resources Ltd:
Thomson Resources Ltd. (ASX:TMZ) 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.
Contact:
Thomson Resources Ltd.
T: +61-2-9906-6225
E: info@thomsonresources.com.au
www.thomsonresources.com.au
