More promising tin results from Bygoo project, NSW

Published 08-FEB-2023 13:00 P.M.

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Earlier today, our silver Investment Thomson Resources (ASX: TMZ) delivered four new assays from its Bygoo Tin Project in NSW’s Lachlan Fold Belt.

Whilst we invested in TMZ for its advanced silver assets, it is always good to see progress with its other assets, especially as changes in sentiment for other commodities can sometimes increase the importance of secondary assets.

At Bygoo, these were not new drill holes being reported, but a review of previous diamond drilling, resulting in four new assay results.

The highlights include:

BNRC016D

2.2m at 4.0% Sn (tin) from 81.6m depth
- incl 36.7m at 0.4% Sn from 92.4m

BNRC065D

13.6m at 0.6% Sn from 103.42m depth
- incl 3.0m at 2.3% Sn from 113.4m

BNRC080D

71.3m at 0.5% Sn from 58m depth
- incl 5.6m at 1.4% Sn from 70.1m

These results will help TMZ’s geologists refine its model of the system, which will help when the company plots out its next drilling campaign here.

What we like about this project is that it surrounds another major tin deposit at Ardlethan, NSW which was previously mined for over 31kt tin up to the mid-80’s.

What’s next?

Previously, TMZ foreshadowed the disposal of non-core assets which would help its low cash balance, so we await details of these.

We also want to see TMZ complete all of its resource updates, as the company aims to define a portfolio-wide 100M+ ounces silver equivalent JORC resource base.