Thomson Resources Ltd Stock Market Press Releases and Company Profile
New JV over the Wilga Downs EM target
New JV over the Wilga Downs EM target

Sydney, Aug 19, 2016 AEST (ABN Newswire) - Thomson Resources Limited (googlechartASX:TMZ) is pleased to announce that it has entered into a farm-in and joint venture agreement with Silver City Minerals Limited (googlechartASX: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)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.

abnnewswire.com 


Contact

Thomson Resources Ltd
T: +61-2-9906-6225
E: info@thomsonresources.com.au
WWW: www.thomsonresources.com.au



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 3) (Last 30 Days: 25) (Since Published: 4680)