Thomson’s tin hunt continues at Wilgaroon
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Drilling has concluded at Thomson Resources’ (ASX:TMZ) Bygoo tin project, with the rig now relocating to the Wilgaroon tin-tungsten target 60km north of Cobar in NSW.
Over the past year, tin has been the second best performing base metal, behind copper.
Prices are now at historic highs, driven by acute shortages and strong demand. The tin price has more than doubled since the Covid-19 related low in March 2020.
Thomson has its timing right. The diverse explorer has just wrapped up ~1,350m of drilling at the ‘Bygoo’ tin project in the Lachlan Fold Belt of NSW, designed to test for extensions to the north of the known mineralised area as well as define a tin resource.
Results are expected in June 2021.
Drilling has now moved the ‘Wilgaroon’ tin-tungsten target, which remains largely underexplored with only a single drill hole in the area.
This hole was extremely promising, returning 250m at 0.1% combined tin and tungsten.
This included a higher grade interval of 6m at 0.6% tin and 0.3% tungsten from 319m, with individual metres as high as 2.5% tin and 1.4% tungsten.
Importantly, the tin-tungsten mineralisation is primarily associated with granite, which this hole missed entirely:
Thomson’s proposed drilling is designed to intersect the mineralised granite at shallower depths, 400m to the west of the historic drill hole.
The program — which has been awarded a grant of up to $45,500 from the NSW New Frontiers Cooperative Drilling grants program — is expected to take up to three weeks.
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.