Thomson’s Harry Smith lode might also be its Silver Spray lode
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Special Report: Thomson Resources’ (ASX:TMZ) Harry Smith project in NSW is shaping up into a potential open pit play with recent drilling intersecting shallow, wide zones of gold.
All 11 holes in its Phase 3 drill program intersected significant gold, successfully extending the known mineralisation to the west and northwest while connecting the Harry Smith lode with the Silver Splay lode.
Notable gold results are 7m grading 4.4 grams per tonne (g/t) from 23m within a broader 87m interval at 0.9g/t from 22m, 5m at 4.1g/t from 21m within 14m at 1.8g/t from 12m and 9m at 2.2g/t from 69m within 90m at 0.6g/t from 31m.
Previous drilling had discovered thick low-grade gold mineralisation from surface as well as deeper high-grade lodes.
Executive chairman David Williams says the results are highly encouraging as the continuity of the relatively shallow results bodes well for the development of a commercial open pit resource.
He pointed to drilling providing the company with evidence that the Silver Spray and Harry Smith lodes are one large system rather than two separate lodes.
“With mineralisation remaining open to the west, we look forward to getting to work on the next phase of drilling with the objective of extending the known mineralised footprint and delivering further value to shareholders,” he added.
Planning is underway for both infill and extensional drilling to the west.
Harry Smith already hosts a proven gold system given that it produced about 16,000oz of the precious metal between its discovery in 1893 up to 1941.
Previous drilling by Thomson has focused on historical workings around the shallow open cut.
Notable results from the three lodes in this part of the Harry Smith project are 9m at 9.2g/t gold and 5m at 2.6g/t gold at Silver Spray, 22m at 1.6g/t gold at Golden Spray and 12m at 1.2g/t gold at Harry Smith.
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.