Thomson Resources has entered into a Farm In Agreement to joint venture its tenement interests near Lake Cargelligo to Kidman Resources (Kidman) (ASX:KDR). The tenements involved are EL 8103 (Thomson 100%), EL 7891 (held by Lassiter Resources Pty Ltd, recently purchased by Thomson) and ELs 7746 and 7931 (subject to a joint venture with Variscan Mines Ltd;) (ASX:VAR).
To earn an 80% interest Kidman will spend $300,000 over 3 years. For further details see today's announcement by Kidman.
The tenement group is prospective for Cobar-type deposits at the southern end of the Cobar Basin.
To view location map, please visit: http://media.abnnewswire.net/media/en/docs/76767-ASX-TMZ-788708.pdf
About Thomson Resources Limited:
Thomson Resources Ltd. (ASX:TMZ) is an Australian-based exploration company focussed on the discovery and development of high quality mineral deposits within the Thomson Fold Belt of northern NSW. Thomson Resources was incorporated on 17 July 2009 with the initial shareholders being Minotaur Exploration Ltd. and Platsearch NL, ASX-listed, exploration companies.
All TMZ exploration tenements lie within the Thomson Fold Belt, a region of deformed and intruded sediments and volcanics to the north of one of Australia’s premier metalliferous mining districts, the Lachlan Fold Belt. The belt has excellent exploration potential for large, high grade deposits, particularly Cobar-type.
In 2010, TMZ signed joint venture agreements with Compass Resources over a further 15 tenements in the Thomson Fold Belt and adjacent Lachlan Fold Belt. This gives TMZ a dominant position in a new mineral belt which has had minimal, but very encouraging, exploration so far.
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Thomson Resources has entered into a Farm In Agreement to joint venture its tenement interests near Lake Cargelligo to Kidman Resources (Kidman) (ASX:KDR). The tenements involved are EL 8103 (Thomson 100%), EL 7891 (held by Lassiter Resources Pty Ltd, recently purchased by Thomson) and ELs 7746 and 7931 (subject to a joint venture with Variscan Mines Ltd;) (ASX:VAR).
