SMG - Silver Metal Group

[System]

Thomson Resources Ltd (TMZ) is an Australian-based exploration company focussed on the discovery and development of high quality mineral deposits within the Thomson Fold Belt of northern NSW. Thomson Resources was incorporated on 17 July 2009 with the initial shareholders being exploration companies Minotaur Exploration Ltd (MEP) and Platsearch NL (PTS).

All TMZ exploration tenements lie within the Thomson Fold Belt, a region of deformed and intruded sediments and volcanics thought to be the under-cover, unexplored northern extension of one of Australia’s premier metalliferous mining districts, the Lachlan Fold Belt. The belt has excellent exploration potential for large, high grade metal deposits, particularly Cobar-type (copper, gold, lead, zinc, silver).

In 2010, TMZ signed joint venture agreements with Compass Resources over a further 15 tenements in the Thomson Fold Belt and adjacent Lachlan Fold Belt. This gives TMZ a dominant position in a new mineral belt which has had minimal, but very encouraging, exploration so far.

http://www.thomsonresources.com.au

 

[springhill]

MC- $2.2m
SP- 4.5c
Shares- 46m
Options- NQ
Cash- $2.1m

Achilles Project
Thomson Resources has moved quickly to commence exploration within the new Achilles joint venture (Figure 1) where TMZ may earn up to an 80% interest from PlatSearch NL. Aircore drilling took place at the Mt Boorithumble and Achilles 3 prospects, continuing into July. Both prospects feature gossanous surface outcrop with base metal anomalism from previous soil surveys.
22 aircore holes have been drilled at Mt Boorithumble for 674m. The drilling was designed to test the shallow sections of the prospect where a single previous diamond drill hole in 1981 had intersected 3 metres at 2% lead, 2% zinc, 1.2% copper, 0.5 g/t gold and 150 g/t silver from 117 metres.

Warraweena Project
Thomson commenced its aircore program at the Warraweena Project near Bourke. No previous exploration drilling had taken place on this porphyry type target and cover was deeper than the 20m expected. All four holes drilled failed to penetrate the loose gravels, sands and muds of the Eromanga Basin, drilling to depths of between 60 and 102m in holes at 1km spacing (total drilled 327m). Assay results have been received from pyritic arenites encountered in the cover sequence; no significant anomalism was detected, as was to be expected.
RC drilling is required to recover better samples and get through to the magnetic target – this will be included in the RC program planned for later this year.

Byrock Project
Surface exploration continued through the quarter at the company’s Byrock project. Laboratory assay results confirmed anomalous tungsten, lead and zinc in ironstones at the Kenilworth Station prospect. Drill testing is planned.

Cuttaburra Project
Major flooding on the Darling and Paroo Rivers abated during the quarter, but still restricted access to the company’s priority Cuttaburra and Falcon projects.

TENEMENTS
During the quarter, the NSW State Government announced new fees in the form of an annual rental, an administrative levy and increased security deposits. These new fees will greatly increase the cost of operations in the unexplored areas where Thomson is working. Accordingly, Thomson has reviewed its land holding, relinquished several tenements and will reduce others on renewal over the next 12 months.

 

[frugal.rock]

Might be worth a look after pull back/ gap filling?
I note the 52 week low was 0.003, bit of a wow stock perhaps.
Not held.

 

[frugal.rock]

Another cursory glance warrants further investigation...

 

[System]

TMZ acquires Australia’s Highest Grade Undeveloped Silver Asset

 

[Dona Ferentes]

TMZ acquires Australia’s Highest Grade Undeveloped Silver Asset

going after SILVER:

Both silver projects are located in the New England Fold belt in NSW and combined, equate to an acquisition of over 30 million ounces of silver equivalent resources. The projects will be acquired from the $207M capped Silver Mines Ltd (ASX: SVL), and as part of the acquisition, Silver Mines will hold ~ 19% of the issued shares of TMZ, which will be escrowed for 12 months. Silver Mines Managing Director Anthony McClure will take a board seat as a Non Exec Director.

The company is aiming to start aggressively expanding its silver resource base over the coming months, both organically and via acquisitions.

Thomson has a $30M market cap, and recently raised $6M, and so appears well funded for near term exploration.

Aside from silver, Thomson has a number of quality intrusion related gold systems in NSW and Queensland, where it is undertaking extensive rolling drilling programs that build on previous high grade results.

TMZ is focused on building a strong silver resource base in 2021, whilst being supported by existing gold assets. In the coming weeks, the company is set to complete its due diligence to acquire high grade, undeveloped silver assets, with the acquisition to be completed early in 2021. .

 

[sptrawler]

going after SILVER:

Thomson has a $30M market cap, and recently raised $6M, and so appears well funded for near term exploration.

Aside from silver, Thomson has a number of quality intrusion related gold systems in NSW and Queensland, where it is undertaking extensive rolling drilling programs that build on previous high grade results.

TMZ is focused on building a strong silver resource base in 2021, whilst being supported by existing gold assets. In the coming weeks, the company is set to complete its due diligence to acquire high grade, undeveloped silver assets, with the acquisition to be completed early in 2021. .

An awful lot of shares on issue? But good prospects, what is the chance of a consolidation? Balance sheet?

 

[Dona Ferentes]

HIGHLIGHTS (all happening in Jan, folks)
- Harry Smith gold project drilling completed
- Drilling results for Chillagoe, Yalgogrin and Harry Smith drilling programs expected to be announced in January 2021
- Webbs and Conrad silver projects due diligence nearing completion

Samples from Harry Smith have been despatched to the laboratory for assaying and results are expected to be available to be published in January 2021.

Chillagoe and Yalgogrin drilling results : Due to the significant increase in exploration activity around Australia and the pressure this is putting on assay laboratories, assay results from the auger drilling program at the Chillagoe project and the RC drilling program at the Yalgogrin gold project have been slightly delayed. Results of these two drilling programs are now anticipated to be available to be published in January 2021.

Due diligence activities on the Webbs and Conrad silver projects, which are subject to a binding terms sheet acquisition by Thomson from Silver Mines Limited (ASX: SVL), is nearing completion, with finalisation anticipated early January 2021.

 

[frugal.rock]

Another cursory glance warrants further investigation...

If it sticks to its cycle, it's about due for another run, one might assume.
This assumption may make an ass out of Ume, a little, un known Japanese person, apparently...

 

[barney]

If it sticks to its cycle, it's about due for another run, one might assume.

I'm in at 11.5 cents for a modest interest ...... A few late stabs at that price as well as a positive Market Depth look pretty inviting.

Had a read of their recent Preso's etc. Lots of potential if the drill etc goes OK.

Cheers Rock ... See how she goes,

 

[frugal.rock]

LARGE GOLD SYSTEM CONFIRMED AT HARRY SMITH

HIGHLIGHTS

 Assays received from 11 holes drilled at the Harry Smith Gold Project located in the Lachlan Fold
Belt in New South Wales with all holes intersecting significant gold

 Wide intersections indicate open-pit gold potential

 Significant intercepts from this drilling program include:

o HSRC18 - 7m at 4.4 g/t Au from 23m depth (within 87m at 0.9 g/t Au from 22m)
o HSRC21 - 5m at 4.1 g/t Au from 21m depth (within 14m at 1.8 g/t Au from 12m)
o HSRC15- 9m at 2.2g/t Au from 69m depth (within 90m at 0.6 g/t Au from 31m)
o HSRC24 - 8m at 2.1 g/t Au from 44m depth (within 18m at 1.3 g/t Au from 35m)
o HSRC17 - 11m at 1.7 g/t Au from 38m depth (within 84m at 0.5 g/t Au from 29m)
o HSRC19 - 6m at 1.1 g/t Au from 66m depth (within 46m at 0.5 g/t Au from 62m)
o HSRC25 - 6m at 1.1 g/t Au from 102m depth (within 20m at 0.6 g/t Au from 90m)

 Drilling has successfully extended the known mineralisation to the west and north west as well
as connected the Harry Smith and Silver Splay lodes

 High priority follow up drilling will consist of both in-fill and extensional drilling to the west where mineralisation remains open

A timely announcement with gold prices starting to bounce (over a weekly high) back and livening up gold players again.
POG set to increase IMO with US Fed' Stimulus pending and the orange guy gone.

 

[barney]

Looking like a handy Gold System. I only own a handful but this news should give the SP a little bump

 

[barney]

I'd almost call the Market response a bit of a fizzer given the News was actually good.

Still a few Punters in profit happy to sell into any minor jumps on this one with 13.5 being the stopping point.

Given the look of the grades/resource, it should move eventually. Holding a handful.

 

[frugal.rock]

Delayed reaction Barney.
It's playing ketchup today.

 

[barney]

Pre- Open for TMZ looking very strong. Only own a handful. Wish I'd bought more, lol

ps You beat me to the punch Rock

 

[Dona Ferentes]

Pre- Open for TMZ looking very strong. Only own a handful. Wish I'd bought more, lol

ps You beat me to the punch Rock

that would be the day after the Jan competition closed, nicht, wahr?

 

[Beaches]

Pushing this as the next Aussie version of Gamestop. Seems like someone believed it.

Thomson Resources Set to Surge on Savage Silver Squeeze?

In the last 36 hours a global, online army of retail investors is rapidly building to try and push the silver commodity price up from $26 per ounce to $1,000 per ounce. Thomson Resources (ASX:TMZ) is well place to take advantage of this movement.

www.nextminingboom.com

Never look a gift horse in the mouth

 

[Dona Ferentes]

Pushing this as the next Aussie version of Gamestop. Seems like someone believed it.

Thomson Resources Set to Surge on Savage Silver Squeeze?

In the last 36 hours a global, online army of retail investors is rapidly building to try and push the silver commodity price up from $26 per ounce to $1,000 per ounce. Thomson Resources (ASX:TMZ) is well place to take advantage of this movement.

www.nextminingboom.com

Never look a gift horse in the mouth

Only one of many

GameStop investor battle moves on to silver as prices surge

Silver hits an eight-year high amid social media calls to buy the metal.

www.bbc.com

also post #969

Silver price discussion and analysis

MKR flying +7.41% .. made fresh highs! :)

www.aussiestockforums.com

 

[barney]

that would be the day after the Jan competition closed, nicht, wahr?

I had to look up what a nicht wahr was ... I thought you were telling me to get lost in German


12th January purchase @Dona Ferentes Didn't buy many but 70% of a few is still handy pocket money. Although not planning on selling just yet. Given their Projects, their Market Cap says they have more room to move.

 

[explod]

My pick for the March comp. Only stumbled on this awhile back and feel the chart and what is starting to be indications of a rising silver shortage feel this one could soon do a run. The chart is interesting also and follows the silver price.