Thomson Resources Limited Receives Strong Support for Initial Public Offering on the Australian Stock Exchange
Sydney, Nov 11, 2010 AEST (ABN Newswire) - Thomson Resources Limited today reported strong interest in its Initial Public Offering (IPO) to list on the Australian Stock Exchange (ASX). Thomson has acquired a dominant tenement position in the newly identified mineral belt which is believed to be the northwestern extension in NSW of the rich Lachlan Fold Belt under cover.
Thomson Resources is seeking to raise A$6 million through an initial public offering of 30 million shares at 20c ("offer") to immediately progress the Company's exploration program on its portfolio of tenements and pre-defined targets, particularly by drilling and also to identify additional targets.
The offer, which opened on November 1, 2010 has received strong initial interest from a range of local and international parties and is scheduled to close on December 3rd, or earlier if oversubscribed.
The Company controls a large strategic ground position of more than 6,000 km2 within the Thomson Fold Belt, recognised as one of Australia's most prospective new mineral provinces. Geological similarities in rocks, minerals and alteration systems have led to the interpretation of the Thomson Fold Belt as the north-western extension of the Lachlan Fold Belt which hosts world-class deposits such as the Cadia-Ridgeway copper-gold porphyry as well as the Peak gold-copper and Endeavor zinc-lead-silver deposits in the Cobar Basin.
The Thomson Fold Belt represents one of the last exploration frontiers in Australia and is considered to have excellent exploration potential for similar large, high-grade deposits, but as yet is largely unexplored.
Thomson Resources and its ASX-listed founder companies, PlatSearch NL (
ASX:PTS) and Minotaur Exploration Ltd (ASX:MEP), have completed extensive geophysics in the region, identifying high quality exploration targets within the Company's tenements.
Five Cobar-type anomalies have been drilled to date in the area and all intersected veining, alteration and base metal sulphides consistent with interpreted proximity to mineralised systems.
In addition, the Company has secured, through joint ventures with Raptor Minerals Limited, quality gold prospects including the Ares gold prospect where previous exploration has identified high grade outcropping and gold mineralisation within a major fault system. Results from previous exploration include drill intersections of 8m @ 5.8 g/t and 3m @ 7.0 g/t.
Eight priority targets are ready for immediate drill testing, located within a range of differing geological environments including the advanced Ares gold project and the Cuttaburra and F16 base metal projects.
About Thomson Resources Ltd
Thomson Resources Ltd (ASX:TMZ) is an NSW active mineral explorer. Thomson has several tin projects (including an advanced project near Ardlethan), as well as gold, copper and zinc targets in a range of settings. Thomson has a good record of discovery, with multiple new Intrusion-Related Gold (gold with copper, lead, zinc, molybdenum, tungsten) systems discovered in the Thomson Fold Belt in the NW of the state.
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