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- Thomson Resources (TMZ) commences a high-resolution aeromagnetic survey west of the Chillagoe Project in Queensland
- The survey will be partially funded by a grant of $100,000 by the Queensland Government under the round five of the collaborative exploration initiative
- The area being flown is currently not covered by high-resolution magnetics
- Thomson said this survey will assist in defining further drill targets
- On the market, TMZ is down 11.8 per cent and trading at 4.5 cents per share
Thomson Resources (TMZ) has commenced a high-resolution aeromagnetic survey west of the Chillagoe Project in Queensland.
The survey will help define intrusion related mineralisation targets and will be partiall funded by a grant of $100,000 by the Queensland Government under the round five of the collaborative exploration initiative.
The area being flown is currently not covered by high-resolution magnetics, unlike areas closer to Chillagoe in the southeast, where in 2020 Thomson conducted remodelling and surface soil testing of several magnetic anomalies.
Results from the 2020 program saw strong gold mineralisation and identified two parallel 700 metre long gold anomalies at Borderline.
Thomson said this survey will assist in defining further drill targets.
Chillagoe includes seven exploration permit for minerals, six of which are granted where the company holds a 90 per cent interest.
Last month, Thomson received a $2.6 million investment by a share placement agreement with investment fund Patras Capital to help fund exploration of its minerals projects in New South Wales and Queensland.
On the market, TMZ was down 11.8 per cent and trading at 4.5 cents per share at market close.
