New England Fold Belt

Thomson Resources’ primary focus is its aggressive “New England Fold Belt Hub and Spoke” consolidation and development strategy in NSW and Queensland border region. The strategy has been designed and executed in order to create a large precious, base and technology metal (silver, gold, zinc, copper, lead, tin) resource hub that will be developed and centrally processed.

The key projects underpinning this strategy have been strategically and aggressively acquired by Thomson. These projects include the Webbs and Conrad Silver Projects, and the earn-in agreement on the Mt Carrington Silver-Gold Project.

Thomson is targeting, in aggregate, a mineral inventory available to a central processing facility equating to 100 million ounces of silver equivalent within the New England Fold Belt portfolio. The Company is well underway to achieving this target with current combined Mineral Resource Estimates (MREs) defined by Thomson of 87.1 Moz silver equivalent for the Texas District, Conrad, Webbs projects and Strauss/Kylo deposits at Mt Carrington.

Core Resources has completed its Central Processing Pathway Study Stage 1 results, which indicated Indicative cashflows from techno-economic evaluation estimate (before capital expenditure and capital costs) provide a good positive cashflow over the 8-year project life using a silver price of A$28/oz and only Webbs, Conrad, Strauss and Kylo deposits. A high level processing concept and design has been produced, which provides pathway forward for developing the New England Fold Belt Hub and Spoke Strategy.