Investment Overview




Thomson Resources Ltd


Variscan maintains an investment in Thomson Resources Ltd.

This investment originated from Variscan project generation activities, where Variscan tenements were vended into the company for equity with subsequent increases in shareholdings through Variscan participation in later fund raisings.

Thomson Resources (ASX: TMZ) is a junior exploration company that listed on the ASX in December 2010, with extensive tenement holdings covering the Thomson Fold Belt in north-western NSW. This area contains rock sequences which are interpreted to be the northern extension of the Lachlan Orogen as well as the Siluro-Devonian Cobar basin, a region within the Lachlan Orogen which boasts significant metal endowment and hosts a number of large, high grade base and precious metal deposits such as CSA, Peak and Endeavor.

Thomson has conducted significant geophysical and deeper diamond drilling programmes testing numerous subtle magnetic targets within the Cuttaburra and Falcon trends. The drilling has demonstrated that these magnetic anomalies are associated with large mineralised hydrothermal systems consisting of extensive zones of highly altered (generally silicification plus carbonate and sericite alteration) and veined sediments possibly closely associated with felsic intrusive activity. In each of the prospects zones of pyrrhotite, pyrite, plus base metal sulphides (zinc and copper) have been intersected, with highly anomalous gold, copper, zinc, tin, and tungsten values recorded.

VTEM surveys by Thomson have generated two strong drill targets at the Wilga Downs copper project near Byrock and the Achaye zinc-lead-silver VMS target (Havilah project). The company has been successful in attracting Co-operative drilling grants from the NSW Government for several of its targets and is working its way through the approvals process ahead of drilling.

Thomson has acquired two exploration licences containing a number of tin prospects near the Ardlethan tin mine, central NSW which formerly produced 25,000t of tin. The most advanced prospect within the licences is the Bygoo North prospect, 7km north of the Ardlethan mine which is considered to have strong potential for shallow tin deposits.

Two drilling rounds by Thomson in 2015 at Bygoo North have generated outstanding drill results and a better understanding of the geometry of the steeply dipping host greisens. Best intercepts to date include 35m at 2.1% Sn from 44m (BNRC11), 10m at 2.0% from 108m (BNRC 13), and 13m at 1.0% Sn from 66m (BNRC 10). Drilling for a JORC resource is planned. Several other similar targets on the EL are also in line for testing.

For full details please visit the Thomson website -