Drill targets identified, rig on its way

TMZ: Drill targets identified, rig on its way

Investment Memo: TMZ IM

General: Drilling update

Today our precious metals development investment Thomson Resources’ (ASX:TMZ) announced results from their latest geophysical survey delivering “compelling high priority targets” at their Texas project in southern QLD.

Drilling will commence shortly to see what lies below at Texas, particularly at the Twin Hills and Silver Spur deposits.

Today’s news fits in with our Objective #1 of our 2022 Investment Memo - for TMZ to deliver a total combined resource across its silver deposits of ~100 million silver equivalent ounces. Presently, TMZ sits at ~40.2 million silver equivalent ounces. The hope is that the new drilling campaign will find more resources that can be added to the current tally.

Next news we are keen to see are the assay results from this drilling, which should be available in the next quarter.