Thomson finally clear to test new tin discovery at Bygoo
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Thomson is finally able to follow-up on the new tin discovery that it made at its Bygoo project in the Lachlan Fold Belt, New South Wales, after delays caused by unseasonal rain.
The drilling at the discovery, which included a thick 118m intersection grading 0.43% tin from a depth of just 57m about 300m west of the Main Zone, marks the start of a broader program at the project.
Once this discovery is tested, Thomson Resources (ASX:TMZ) will move to test another new discovery with intercepts of up to 4m at 3.52% tin from 149m within a broader 23m zone grading 1.4% tin from 141m that is located closer and sub-parallel to the Main Zone.
This will be followed by drilling at the Main Zone with the goal of calculating a mineral resource estimate for Bygoo.
Tin prices are currently at record levels of around US$45,791 per tonne, more than 50% higher than they were a year ago.
While global tin production hit about 300,000t in 2021, up 14% from 2020, the US Geological Survey noted earlier this week that this was barely able to meet rebounding consumer demand.
“This has been a very frustrating summer all around with the La Nina event producing extraordinary unseasonal rains which have simply made it impossible to get on the ground on the Lachlan Fold Belt projects and increased the water management work in our New England Fold Belt projects as well,” executive chairman David Williams said.
“It is great to finally get on the ground at the Bygoo Tin Project and follow up on those outstanding results from the 2021 drilling.
“The Bygoo Tin Project continues to produce great exploration results and we look forward to moving towards defining a maiden mineral resource estimate for Bygoo this year.”
The new discovery about 300m from the Main Zone was first discovered by BNRC67 that was drilled to test the strike extension of shallow old workings.
While this returned just 3m at 0.1% tin in a weak tourmaline-bearing greisen, Thomson decided to drill a second hole BNRC69 to ensure that the strike extension was fully tested.
This proved to be remarkably successful, intersecting the thick tin interval that included several higher-grade zones, including 19m at 1% tin from 87m.
Very little is known about the old workings in this area and no historical production has been reported. The drilling will test underneath the workings as well as test extensions of the mineralisation into the cropped paddock to the northwest.
This article was developed in collaboration with Thomson 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.