Terrain Minerals Limited (ASX: TMX) ('Terrain' or the 'Company') is pleased to inform the market that the first phase of drilling, focussing on the pegmatites at the Paradise City prospect (targeting multiple pegmatites), has now been completed at the Company's 100% owned Smokebush Project, located within the Yalgoo mineral field approximately 350 kilometres north of Perth, Western Australia
Reverse Circulation (RC) drilling at Paradise City, successfully intersected multiple zones of pegmatites within 10 of 11 holes, with assays due within 6 weeks (refer to pictures 1 to 6).
Phase 2 pegmatite drill program (targeting multiple pegmatites at Hurley and Monza) is scheduled to commence before the end of June.
Drill testing of the IP anomalies, targeting interpreted repetitions of the neighbouring Minjar style gold mineralisation, is scheduled to commence as part of the Phase 2 drilling campaign.
Detailed soil sampling program testing the southern extension of the copper-in-soil anomaly at Larins Lane is due to commence by mid-July.
The Company cautions the readers: that visual estimates of rock types or mineral abundance are the result of observations or estimates made by a professional geologist present during the drilling, however, those observations should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of the visual mineralisation (if reported) in preliminary geological logging. The Company will update the market when laboratory analytical results become available.
Gold - IP Survey Drilling Update
Terrain's geological team has commenced ground activities in preparation of drilling following the completion of the induced polarisation (IP) survey. Drilling is expected to commence late June 2023, as part of the Phase 2 drilling program, which will also be testing multiple pegmatites in the Hurley and Monza areas or Lithium. Please refer to the below ASX release for further details.
Gold - IP Survey Drilling Update
Terrain's geological team has commenced ground activities in preparation of drilling following the completion of the induced polarisation (IP) survey. Drilling is expected to commence late June 2023, as part of the Phase 2 drilling program, which will also be testing multiple pegmatites in the Hurley and Monza areas or Lithium. Please refer to the below ASX release for further details.
Contact:
Tel: +61 8 9381 5558
ABOUT TERRAIN MINERALS LIMITED:
Terrain Minerals Limited (ASX: TMX) is a mineral exploration company with a Western Australian based asset portfolio consisting of: Lort River - WA Rare Earth Elements Exploration Project 100% owned. Covering 320km2 of highly prospective exploration acreage for REE within the now tightly held and emerging southern Esperance clay hosted REE province of Western Australia. Terrain is currently planning to execute a smaller proof of concept roadside (air-core) drilling campaign before embarking on a larger wide spaced 8,500m 1600m by 1600m, 60m deep air core program over tenement package. Heritage related matters are currently being addressed, for clearance purposes. Secondly: Bottom of hole samples will also be separately testing for Tropical style gold and Nova style base metal targets. Heritage clearance has commenced.
Smokebush (SB): 100% owned gold, lithium and copper exploration project is located within the prospective Yalgoo Mineral Field of Western Australia. The Company's Smokebush Project neighbours Warriedar Resources Limited's (ASX: WA8) (formally Minjar, Golden Dragon Project).
SB - Gold IP Survey - on going IP survey program has identified four drill worth targets, which will be drill tested as part of the phase 2 drilling program, refer to the above release.
SB - Lithium - 11+ pegmatites identified with the Paradise City pegmatites drill tested during phase 1 Phase 2 drilling in late June will test pegmatites at the Hurley and Monza areas.
SB - Larin's Lane - Exceptional MMI soil sampling results have identifying one new gold target and an open Copper with associated nickel anomaly which remains open to the SE with an extension program scheduled to commence this mid-July.
Calytrix Project: 100% owned rare earth elements (REE) exploration project is located approximately 500 kilometres north of Perth and 40 kilometres southeast of the town of Yalgoo. An active exploration program for both hard rock hosted and clay hosted REE mineralisation is presently underway across the Calytrix project area.
Wild Viper Project: 100% owned gold exploration project, located 70 kilometres north of Leonora, Western Australia, and incorporates the strategic land holding known as Wilsons Patch. The Company's Wild Viper Project is strategically located and surrounds Red5 Limited's (ASX; RED) Great Western Mine as well as being adjacent to Northern Star Resources Limited's (ASX: NST) Bundarra gold deposits.
Project Review: Terrain Minerals Limited continues to investigate potential projects across various commodities including gold, copper, nickel, rare earth elements, and other industrial minerals. Western Australian based projects are the Company's current focus, but other parts of Australia are being seriously examined and considered as are other jurisdictions like Africa, Europe and the Americas.
Competent Person Statement: The information in this report that relates to Exploration Results are based on information compiled by Mr. Xavier Braud, who is a Member of the Australian Institute of Geoscientists and is a member of the board of Terrain Minerals Ltd. Mr Braud is a shareholder and options holder of Terrain Minerals Ltd. Mr Braud has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Braud consents to the inclusion in the report of the matters based on his information in the form and context in which it appears
TERRAIN MINERALS LIMITED 