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Terrain Minerals Ltd ( (AU:TMX) ) has issued an announcement.
Terrain Minerals has reported strong assay results from a 29-hole reverse circulation drilling program at its 100%-owned Lightning Gold Prospect in Western Australia, confirming continuous high-grade gold mineralisation along strike and at depth. The program, which expanded the drill database to about 16,000 metres, also suggests the gold system is larger and more complex than previously understood, with indications of a possible third mineralised structure emerging beneath the main Lightning lens.
Significant intercepts, including 7 metres at 7.08 grams per tonne gold and 8 metres at 6.87 grams per tonne, underpin Terrain’s confidence in Lightning’s scale and grade potential relative to nearby deposits. With a mining lease now granted over the Lightning system and a maiden JORC-compliant mineral resource estimate targeted for July 2026, the project is moving towards a more advanced stage that could enhance Terrain’s asset base and positioning within the regional gold sector.
Pending diamond core and silver assay results, along with follow-up drilling on the newly indicated third structure, are expected to further refine the geological model and resource potential. The confirmation of multiple parallel, open-ended structures at Lightning, combined with evidence of high-grade shoots within broader mineralised zones, may have positive implications for future development options and value creation for stakeholders.
More about Terrain Minerals Ltd
Terrain Minerals Ltd is an Australian exploration company focused on gold assets, with its flagship Lightning Gold Prospect located about 350 kilometres north of Perth in a historically productive gold district. The company is advancing the broader Smokebush project area, targeting shear-hosted gold systems that benefit from proximity to existing regional mining infrastructure.
Current Market Cap: A$16.68M
For an in-depth examination of TMX stock, go to TipRanks’ Overview page.