Terrain Minerals : 15/11/2019 - Option for Sale of Great Western - Funds Received
November 14, 2019 at 08:40 pm EST
Share
ASX RELEASE
15 November 2019
$300,000 Option Fee Received
ABN: 45 116 153 514
ASX: TMX
For the Sale of Great Western Gold Project
Terrain Minerals Limited (ASX: TMX) is pleased to announce that in accordance with the Option Agreement for the sale of its Great Western gold project, it has received the $300,000 plus GST cash payment for the non-refundable option fee.
Please refer to ASX release on the 11th November 2019 for further details.
|Registered Office: S2, 28 Outram Street, West Perth, WA, 6005|
|Mail: PO BOX 79, West Perth, WA, 6872|Ph: +61 8 9381 5558|www.terrainminerals.com.au|
ABOUT TERRAIN MINERALS LIMITED:
Terrain Minerals Limited (ASX:TMX) is a minerals exploration company with a Western Australian based asset portfolio consisting of:
Great Western - Option Agreement executed with Red5 Limited (ASX:RED) (includes a $300,000 non- refundable option fee, now received). Option period is for 5 months and allows for Red5 to conduct due diligence drilling. If exercised Terrain will receive $2,200,000 worth of Red5 shares issued at a 5-day VWAP. If not exercised all expenditure and data will become the property of Terrain. Refer to the first page of this announcement for further details.
Wild-Viper Exploration continues to increase Terrain knowledge of this highly prospective gold exploration property. A six-hole RC drill program and trenching has been recently conducted at different locations and further follow up work on newly identified areas will continue into the next field season.
Red Mulga Red Mulga project is situated ~170km NNE of Geraldton in the Yilgarn Craton, Western
Australia's Murchison region located on Yallalong station. An RC drill program as conducted in 2018 which identified the presence of mineralisation. Desk top studies continue.
Project Review: Terrain Minerals is currently searching and has been assessing potential projects: Gold, Copper, Nickle and industrial minerals in Australia, Africa, North & South America and Asia, other regions are also being considered. Several jurisdictions of interest have now been identified. All economic commodities are being considered as indicated in previous Quarterly reports. Currently Terrain is assessing an exciting WA based gold project.
|Registered Office: S2, 28 Outram Street, West Perth, WA, 6005|
|Mail: PO BOX 79, West Perth, WA, 6872|Ph: +61 8 9381 5558|www.terrainminerals.com.au|
Attachments
Original document
Permalink
Disclaimer
Terrain Minerals Limited published this content on 15 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2019 01:39:02 UTC
Terrain Minerals Ltd is an Australia-based minerals exploration company, which is focused on the mineral provinces in Western Australia. The Company's projects include Wild-Viper Gold Project, Lort River Project Rare Earths (REE) and Smokebush Project. Lort River Project REE Project covers about 320 square kilometers of prospective exploration acreage located 50 kilometers (km) Northwest of the town of Esperance, Western Australia. Its 100% owned project is located 68 km north of the Leonora and one km from the Goldfields Highway on the Weebo pastoral leases and forms part of the historic Wilsons Patch mining area. The Smokebush Project area is located over 85 km east northeast of the Perenjori township and 65 Km west of Paynes Find within the Yalgoo Mineral Field. The project is within a package of five lease for a total area of 1,254 hectares. It is also actively exploring and following up on an extensive historic data package of soil samples and first pass drilling.