In a large sauté pan over medium-high heat, warm the oil. Add the onion, salt, and mustard seed and cook until the onion is tender and light golden, about 5 minutes, stirring occasionally. Add the bourbon to the pan, adjust the heat to medium, and then add the remaining chutney ingredients. Cook the chutney until most of the liquid is evaporated and the peaches are tender, about 10 minutes, stirring occasionally. Remove from the heat.
Rub the chops on both sides with the oil, thyme, salt, and pepper. Allow the chops to stand at room temperature for 15 to 30 minutes before grilling.
Prepare the grill for direct cooking over medium-high heat (400° to 450°F).
Grill the chops over direct medium-high heat, with the lid closed, until still slightly pink in the center, 8 to 10 minutes, turning once. Remove from the grill and let rest for 3 to 5 minutes. Serve the chops warm with the peach-bourbon chutney.