Thomson Resources (ASX: TMZ) has been named amongst the recipients of the NSW Government Stream 1 Grants for its identified further test work on Thomson’s New England Fold Belt Hub and Spoke (NEFBHS) strategy.
The Grant to Thomson will be a co- contribution out of the CMAF of A$500,000.
“The awarding of the Stream 1 CMAF Grant to Thomson is a fantastic outcome for our strategy and hard-working team and demonstrates the growing recognition of the importance and tangibility of the NEFBHS,” Executive Chairman David Williams said.
“The support from the NSW Government with this Grant coupled with their overall support for Thomson progressing the NEFBHS, gives Thomson great confidence in progressing this strategy through the feasibility stages.
“The CMAF is a clear demonstration by the NSW Government of its understanding and commitment to ensuring Australia has a dependable and accelerated supply of critical minerals and high-tech metals.
“NSW’s list of critical minerals and high-tech metals includes the following which have already been identified on the NEFBHS projects – silver, copper, tin, zinc and indium. As we look more closely, we may well find other minerals on the list.”
Critical Minerals and High-Tech Metals Activation Fund
The NSW Government announced in June 2022 that it had allocated A$130 million to activate the critical minerals and high-tech metals sector, which is now known as the Critical Minerals and High- Tech Metals Activation Fund (CMAF), which is designed to activate the sector and diversify mining in regional NSW.
There are two streams of funding. The first stream provides grants ranging from A$300,000 to A$500,000 to support industry and research institutions undertake the necessary studies to progress their projects and reduce risk for future investment. The first stream focuses on funding studies that are needed to activate the sector, such as research and development, feasibility studies and environmental studies.
Thomson Proposed Work Programme
As identified in Stage 1 of the NEFBHS Central Processing Pathway Study, Thomson put forward for the Grant the test work identified by Core Resources Pty Ltd to refine and enhance the processing pathway.
Thomson’s NEFBHS is about developing a number of silver focused deposits into a central processing facility. The NSW projects comprised in the NEFBHS at the moment are Webbs, Conrad and Mt Carrington.
The Study commissioned by Thomson determined the NEFBHS was technically viable with a central processing facility located near Tenterfield. Key areas needing to now be addressed are reducing transport costs, dealing with elevated arsenic in Webbs and Conrad, improving recoveries at some of the Mt Carrington deposits and if possible reducing the level of processing at Mt Carrington.
This study proposed for the Grant aims to address these issues with a range of test work that is defined in a detailed scope. In broad terms the study will involve:
Acquiring sufficient representative metallurgical samples from the various deposits at the Mt Carrington, Webbs Silver, and Conrad project sites in order to complete the following test work:
Albion Process test work;
Ore beneficiation test work;
Flotation test work; and
Cyanide leaching test work.
The test work is required to provide necessary data for further engineering work required to complete a Pre-Feasibility Study (PFS). Importantly the study will result in a concept level process package for the NEFBHS project that will feed into the PFS work.
The Grant is subject to two conditions being satisfied by 16 December 2022, namely:
evidence that the proposed cash co-contribution has been secured; and
supporting quotes for the budget proposed.
Thomson will now proceed to meet those conditions.
For further information please visit: https://www.thomsonresources.com.au/
