ASX listed Thomson Resources has confirmed the discovery of a new, high grade tin greisen at its Bygoo North tin prospect, north of the Ardlethan tin mine in New South Wales, Australia, following a recent programme of exploratory drilling.
Drill hole locations were selected along strike old mine workings resulting in the discovery of high grade tin mineralisation in 3 greisen zones, of which one was previously unknown. Significant results included 35m at 2.1% Sn with one drilling intersection containing up to 11.1% Sn within individual metres.
The company has also announced this week that it has finalised a $95,000 share placement to several private investors. This funding will allow the company to define and extend the three greisens with additional drilling, which will be completed prior to the end of this year. The results will be the basis of modelling to provide a JORC resource for the project. There are also several other prospects on the exploration licence at Bygoo which have had shallow historical workings and are likely future exploration targets.
Project geologist, David Ward, said: “To put it in perspective, Australia’s largest tin mine (Renison Bell) is mining at 500 metres below surface with a head grade of about 1.5 per cent tin. In the drill holes, we have something that looks in the very early stages that it could replicate something like that. The difference is it is located at surface level, making any potential mining operation cheaper to run.”
