Thomson Resources uncovers new mineralised zone at historic Silver Spur mine

Thomson Resources ASX TMZ hits mineralised zone historic Silver Spur mine Texas Queensland
Assays from the drill core at Silver Spur are expected in September.

Thomson Resources (ASX: TMZ) has intersected zinc-lead-copper-silver mineralisation during drilling at the historic high-grade Silver Spur mine within the Texas silver-base metal project in southeast Queensland.

The second hole of the program was drilled on the northern margin of the mine to test a dipole-dipole induced polarisation (DDIP) chargeability anomaly and an interpreted strike extension of the resource associated with the Stokes Fault.

The hole intersected a broad zone of quartz veining and alteration with multiple veins of base metal sulphide and silver mineralisation.

The dominant sulphide was reported to be brown sphalerite (zinc sulphide) with silver grey galena (lead) and minor yellow pyrite-chalcopyrite (iron-copper).

Scans using handheld pXRF (portable xray fluorescence) indicated the vein also contains elevated silver.

Early hole

Executive chairman David Williams was pleased that mineralisation had been intersected in an early hole of the company’s New England Fold Belt ‘hub and spoke’ strategy.

“[This is a great outcome as] the mineralisation is over a broad interval and in a new position which has not been tested previously, highlighting the exploration potential at Silver Spur and the broader Texas area,” he said.

“Our program has been a bit disjointed due to the land being extremely saturated from the ongoing rains … we have had to drill [only] where we could safely bring in the drilling rig and this has severely curtailed our program.

Possible new zone

The quartz veining, base metal mineralisation and associated silicification is interpreted to extend west beyond the footwall of the Stokes Fault system which controls the mineralisation at Silver Spur and at the Twin Hills mine to the north.

Mr Williams said it sits outside the domains used for the previous mineral resource estimate at Silver Spur and could represent a possible new zone.

Resource extensions

Drilling at Silver Spur commenced in June to focus on extensions to the current resource as well as near-resource exploration targets.

Exploration at Silver Spur North has focused on a number of compelling DDIP chargeability anomalies which straddle the Stokes Fault beneath shallow historic drilling.

These anomalies will be drill tested by Thomson as part of its initial program, weather conditions permitting.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.