Old drilling data to find new zones of mineralisation?
Our precious metals exploration Investment Thomson Resources (ASX: TMZ) is looking to extend the areas of known mineralisation at its Mount Carrington project in NSW.
In its announcement yesterday, TMZ confirmed that it had relogged old diamond drillholes from 2021, identifying potentially mineralised areas beneath the already known open pit shell which contains the bulk of the Mount Carrington resource.
The significance of this is that there may be further mineralisation below, where the company previously had no data on.
TMZ confirmed that at this stage there are no assay results available but that it had sent these parts of the diamond drillcores off for testing.
The importance of all of this is that if these parts of TMZ’s project return additional mineralisation it could be added to TMZ’s resource or, alternatively, be followed up with additional drilling.
At this stage things could go either way and there is no guarantee that these assays will return anything, especially considering these are from old geotechnical drillholes done back in 2021.
What’s next for TMZ?
We want to see TMZ complete all of its resource updates and come as close to our base case target of a portfolio wide 100m ounce silver equivalent JORC resource base.