Announce the Financial Report for Period Ending December 2013
Sydney, Mar 7, 2014 AEST (ABN Newswire) - The principal activity of Thomson Resources (
ASX:TMZ) is exploration for the discovery and delineation of high grade base and precious metal deposits specifically within the Lachlan and Thomson Fold Belt of NSW and the development of those resources into cash flow generating businesses.
Review and results of operations
The net results of operations after income tax expense for the half year was a loss of $641,988 (2012: profit $112,075).
Exploration success continued in the Thomson Fold Belt where anomalous tungsten, molybdenum and gold assays in granite at the F1 anomaly provided strong support for the company's Intrusion-Related Gold model. The geochemistry also suggested vectors towards potential mineralised positions on the flanks of the anomaly.
Significant tin potential was identified on Thomson's EL 8011, where the Wilgaroon Granite exhibits highly fractionated geochemistry; similar to the Ardlethan Granite among the granites of the Wagga Tin Belt. Building on that knowledge two new areas were applied for with tin potential - Victory Tin near Wagga Wagga and Basin One near Kempsey. The latter prospect is a tin skarn related to a granitic intrusion which hosts the Mount Jacob gold prospect.
Thomson continued to carefully manage its ground position with four tenements relinquished and four new areas applied for. Agreement was reached with Compass Resources to transfer the Cuttaburra, Louth and Warraweena tenements to Thomson. One tenement was granted and several reduced in area on renewal.
Thomson Resources received $204,319 in January 2014 as part of the Commonwealth's research and development tax incentive. This amount was accrued at 31 December 2013.
To view the full report, please visit:
http://media.abnnewswire.net/media/en/docs/76724-ASX-TMZ-787054.pdf
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.
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