- Thomson Resources (TMZ) has completed its purchase of Caesar Resources, which owns the CR tenement in Queensland
- CR is next to the Cannington silver mine, one of the world’s largest producers of silver and lead
- The new tenement has potential as it has the same type of rocks as Cannington, while the purchase will add 90 square kilometres to Thomson’s existing Brumby application nearby
- On the market this afternoon, Thomson is up 3.49 per cent and trading at 8.9 cents per share
Thomson Resources (TMZ) has completed the acquisition of Caesar Resources.
Caesar holds EPM27530 licence, dubbed the CR tenement, which is next to South32’s (S32) Cannington silver mine in Queensland, one of the world’s largest producers of silver and lead.
The new tenement sits alongside other tenements owned by major and mid-tier companies, such as Mount Isa Mines, Rio Tinto and Sandfire Resources.
Thompson says there are multiple magnetic and geological structures that run through Cannington mine and continue into the CR tenement.
CR has potential for major silver and lead deposits as it has the same rock types as the Cannington project.
The purchase will add 90 square kilometres to Thomsons existing Brumby application nearby.
Brumby has been previously drilled and results included 23 metres at 0.6 per cent copper, 0.3 g/t of gold and 16 metres at 1.8 per cent copper and 0.5 g/t of gold.
On the market this afternoon, Thomson is up 3.49 per cent and trading at 8.9 cents per share at 2:48 pm AEDT.