A 3,000km high-resolution airborne magnetic survey west of Chillagoe, Queensland is underway to help define intrusion related mineralisation targets for drill testing.

As one of 16 companies to be awarded a cash grant under Round 5 of the Queensland Government’s Collaborative Exploration initiative, Thomson Resources (ASX:TMZ) will receive up to $100,0000 to partly fund the survey.

The area being flown is not currently covered by high-resolution magnetics, unlike areas closer to Chillagoe to the southeast, where in 2020 Thomson conducted remodelling and surface soil testing of several magnetic anomalies.

These results include rock chip assays over areas which haven’t been previously drill tested.

Up to 16g/t gold, 64g/t silver, 20% copper, 0.4% tungsten was returned at Laverock, a continuous 1.5m channel sample returned 28.6g/t gold and 713g/t silver at Borderline and rock chips ranging up to 5.7g/t gold at Salt Creek.

Project background

TMZ’s Chillagoe project comprises seven EPMs (Exploration Permit for Minerals), six of which are granted where the company holds a 90% interest.

Principal target types in the area include Intrusion Related Gold (IRG) deposits, typically associated with felsic Carboniferous breccia pipe and intrusive complexes.

TMZ says these deposits have great vertical extent and the exploration implication is that most undiscovered deposits of this type will come close to surface, only hidden by weathering and recent alluvial or transported sediments.

 

 

 

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.

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