Thomson Resources (ASX: TMZ) (OTCQB: TMZRF) (Thomson or the Company) is pleased to announce its JORC 2012 Mineral Resource Estimate (MRE) for the Webbs high-grade silver base metal deposit, prepared by AMC Consultants Pty Ltd (AMC).
This is the first MRE for Webbs reported in accordance with the 2012 edition of the JORC code and delivers total Indicated and Inferred mineral resource of 2.2 Mt at 205 g/t AgEq for a total 14.2 Moz AgEq at a 30 g/t Ag cutoff, comprising 9.7 Moz Ag, 23.9 kt Zn, 11.9 kt Pb, and 3.3 kt Cu. The Webbs MRE is the fifth and final resource update for Thomson's Tablelands Group of 100% owned deposits2,3 representing a full restatement of the Webbs, Conrad, Silver Spur, Twin Hills and Mt Gunyan resources within a 10-month period. Combined, these deposits contain total Indicated and Inferred resources of 16.8 Mt at 101 g/t AgEq for a total of 54.4 Moz AgEq.
Executive Chairman David Williams commented: 'Another JORC 2012 Mineral Resource Estimate, the fifth we have produced in under 12 months. This has been an extraordinary effort by the Team, led by our key consultants, Global Ore Discovery. It must be remembered, these are not rubber stampings, these are new MREs prepared from scratch. 'Investors can now properly compare Thomson's project resources with other silver focused companies, with a set of what we know are robust MREs. It makes for interesting consideration of Thomson's market capitalization. '54.4 Moz AgEq at 101 g/t AgEq is a great base to now add the Mt Carrington polymetallic resources to, given the recent revision of the earn-in terms for that project. Our 100 Moz AgEq target is looking well achieved. 'Again the new understanding of Webbs points to a lot of potential upside and we will be keen to get after that with the planned drill program.'
Deposit Characteristics and Mining History
Mineralisation was first discovered at Webbs in 1884 and the deposit was mined in several phases between 1884 to 1964. The most significant period of mining was from 1884 to 1901 where the Webbs Main shoot was mined over nine levels down to a depth of 210 m, with approximately 55,000 t of ore extracted at an average grade of approximately 23 oz/t (710 g/t) silver 4 . Almost all historic production has come from a high-grade steep south plunging 'North Shoot'. The South Shoot hosting a substantial proportion of the resource, was not historically mined and remains undeveloped1.
Webbs is a north-north-east striking, structurally controlled, silver-base metal deposit. Mineralisation is hosted in steeply dipping up to 15 m wide lodes defined by sericite-silica-carbonate-chlorite altered shales. Mineralisation is characterised as fracture fill sheeted and stockwork veinlet and localised breccia matrix fill comprising silver rich tetrahedrite, sphalerite, galena, and chalcopyrite, and accessory arsenopyrite1 . Mineralisation is currently known down to a depth of 340 m below surface (395 mRL) in the North Shoot and 275 m below surface (mRL 435) in the South Shoot.
Historic Resource Definition and Thomson Resource Estimation
In 2012 Silver Mines Ltd (SVL) published an MRE to JORC 2004 reporting standards5 at a 70 g/t Ag cut off. The Resource was not reported within a conceptual pit and was not depth constrained with all material above approximately 385 mRL in the North Shoot and approximately 520 mRL in the South Shoot reported. This MRE was not depleted for the historic mining void in the North Shoot. An additional 13 holes, comprising approximately 4,295 m, were drilled by SVL subsequent to reporting of their JORC 2004 MRE. Thomson's MRE represents the first resource statement for Webbs to be reported in accordance with JORC 2012 standards, and the first to incorporate all the SVL drilling. In preparation for the calculation of the Webbs MRE, Thomson's geoscience consultants, Global Ore Discovery Pty Ltd (Global Ore), completed a comprehensive re-evaluation of the project including rigorous data validation of the drill hole database, relogging of over 13,000 m of diamond core and RC chips and detailed surface mapping of the Webbs structural trend1 .
Global Ore used this data to generate alteration wireframes of the strong to intense sericite-silica alteration that encompasses the mineralisation. The alteration wireframes were then refined to a 30 g/t Ag equivalent grade cut off, creating 3D grade-alteration wireframes. The new grade-alteration wireframes define an echelon lode system that hosts the Webbs mineralisation. A series of centre planes that define the axis of and the interpreted strike continuity of the higher-grade shoots within the grade-alteration wireframes were also developed to guide dynamic modelling of the higher-grade shoots within the resource. Global Ore leveraged level plans of the stopes, drives and shafts from when the mine was last dewatered in 1962 and 1966 in combination with recent DGPS survey locations of shaft openings and recorded drill intersections of underground drives and stopes, to produce an updated 3D model approximating the historic mining void. The grade-alteration wireframes, high-grade centre planes, mining void model and validated drill database were provided to AMC to guide Thomson's Webbs MRE.
ABOUT THOMSON RESOURCES
Thomson Resources holds a diverse portfolio of minerals tenements across gold, silver and tin in New South Wales and Queensland. The Company's primary focus is its aggressive 'New England Fold Belt Hub and Spoke' consolidation strategy in NSW and Qld border region. The strategy has been designed and executed in order to create a large precious (silver - gold), base and technology metal (zinc, lead, copper, tin) resource hub that could be developed and potentially centrally processed. The key projects underpinning this strategy have been strategically and aggressively acquired by Thomson in only a 4-month period. These projects include the Webbs and Conrad Silver Projects, Texas Silver Project and Silver Spur Silver Project, as well as the Mt Carrington Gold-Silver earn-in and JV. As part of its New England Fold Belt Hub and Spoke Strategy, Thomson is targeting, in aggregate, in ground material available to a central processing facility of 100 million ounces of silver equivalent. In addition, the Company is also progressing exploration activities across its Yalgogrin and Harry Smith Gold Projects and the Bygoo Tin Project in the Lachlan Fold Belt in central NSW, which may well form another Hub and Spoke Strategy, as well as the Chillagoe Gold and Cannington Silver Projects located in Queensland. Thomson Resources Ltd (ASX: TMZ) (OTCQB: TMZRF) is listed on the ASX and also trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process.
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