Special Report: Phase 2 drilling at Thompson Resources’ (ASX:TMZ)  Yalgogrin project in the popular Lachlan Fold Belt of NSW hit gold in every hole.

In July last year, the explorer pulled up thick low-grade gold mineralisation from near surface as well as deeper high-grade lodes in a maiden drilling program.

The so-called ‘Shellys-Bursted Boulder’ target area was the most promising, with high grade intercepts below both of the main lines of historic workings.

The follow up six-hole, 720m drilling program in November/December 2020 has successfully extended this mineralisation in multiple directions.

What was particularly encouraging for Thomson was that every hole drilled hit gold.

Significant intercepts include 2m at 5.2 g/t gold from 80m depth and 3m at 6.9 g/t from 73m.

The program successfully extended the Bursted Boulder mineralisation east, west and down dip; and it is still open in all directions “providing targets for further follow up drilling”, Thompson says.

“The drilling encountered high-grade gold, often within extensive low-grade haloe — but all of the highest-grade results lined up on a single plane interpreted to be the projection of the Bursted Boulder shallow historic surface workings,” the explorer says.

“This lode is showing strong continuity and will be targeted for extension in the follow up programs.”

The Bursted Shoulder lode, showing highlight gold intercepts and location of historic workings (blue)

Strong upcoming news flow

Thomson isn’t taking a break anytime soon and has a pipeline of results to deliver to investors over the coming weeks.

Drilling results from the December 2020 program at the Harry Smith gold project are expected during this week and will be the subject of a separate announcement, Thompson says.

The RC drilling program was following up impressive intercepts like 17m at 5.2 g/t gold (incl. 9m at 9 g/t) and 54m at 1 g/t.

Assays from an early stage augur drilling program at Chillagoe in Queensland are also due in the next one to two weeks.

 

This article was developed in collaboration with Thompson Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

 

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