To make the Peach BBQ Sauce: Combine all the sauce ingredients in a medium-sized saucepan. Bring the mixture to a boil. Lower the heat and simmer for abut an hour, stirring often. Halfway through cooking, when the peaches start to soften, stir the sauce vigorously with a wire whisk or potato masher to smash and breakdown some of the peaches. Alternately, if you prefer a smooth BBQ sauce, puree the BBQ sauce in a food processor. Season to taste with salt and pepper.

Combine the olive oil, thyme, salt and pepper and rub both sides of the pork chops with the mixture. Let the chops sit for at least 30 minutes or up to 2 hours refrigerated.

Pre-heat the BBQ grill for at least 10 minutes. (The grill is hot enough when you can only hold your hand 1 inch above the grill grates for no more than 2 to 3 seconds before you have to pull it away.) Grill the pork chops on one side for 7 minutes. Turn the chops over and brush the BBQ sauce on the grilled surface of the chops. Grill for another 7 minutes, turn the pork chops over and brush more BBQ sauce on the second grilled side. Continue to grill the chops for a few more minutes on each side, until they are cooked through and an instant read thermometer inserted in the center of the chops registers 150˚F. Remove the chops from the grill to a resting plate and loosely cover with foil.

While the chops rest, bring the remaining Peach BBQ Sauce back to the boil for a few minutes. Serve the rested chops with the BBQ sauce to brush on at the table.