Special Report: With silver costs on the upswing, the previously producing Webbs and Conrad silver initiatives in NSW are hunting like the jewels in Thomson Resources’ crown.
Aside from past production, these tasks also have major in-ground resources that continue to be untapped with past operator Malachite Methods estimating that the value of the gross contained metallic in the Conrad task was about $648m.
This estimate was created when silver rates were comparable to the level they are now investing at, or about $US23.94 ($31.75) an ounce.
Whilst the Conrad useful resource of 2.65 million tonnes at 206 g/t silver equivalent for 17.5 million ounces of silver equivalent is based on the older JORC 2004 specifications and so ineligible to be regarded as a useful resource by the ASX, it even now offers a springboard for Thomson Methods (ASX:TMZ) to define a more demanding JORC 2012 compliant resource.
Very little speculate then that the enterprise considers Conrad to be a significant-quality polymetallic exploration and mining prospect masking about 50sqkm.
Webbs very likely presents related probable offered that it also has an existing useful resource (also the more mature JORC 2004) and historical output.
Conrad and Webbs silver/polymetallic jobs
The Conrad silver venture involves the Conrad mine that was formerly the greatest silver producer in the New England location, producing about 3.5 million oz of silver alongside with lead and tin.
Apart from the remaining resource, the job has appreciable exploration potential in the course of the granites that are existing.
In excess of 25,000m of predominantly diamond drilling has been accomplished in the modern day period by Malachite Assets (now Pacific Nickel Mines).
In the meantime, about 55,000t of ore grading at least 23oz was manufactured at Webbs from 1884 to 1901.
It stays one particular of the best grade undeveloped silver assignments with a JORC 2004 resource of 1.49Mt at 345g/t silver equivalent, or 16Moz of contained silver equal.
Furthermore, there is likely to enhance assets as several downplunge extensions continue being to be drill analyzed though the remainder of the tenement is mostly underexplored.
This post was created in collaboration with Thomson Sources, a Stockhead advertiser at the time of publishing.
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