Terrain Minerals Limited (ASX: TMX) reported promising high-grade gold and silver drilling results from its Smokebush Project during the March 2025 quarter. Drilling at the Lightning and Monza prospects returned significant intercepts, including 11 meters at 6.03 g/t gold and 43.5 g/t silver from 75 meters downhole at Lightning, and 3 meters at 6.12 g/t gold from 26 meters at Lightning as well as 5 meters at 3.77 g/t gold from 180 meters downhole at Monza.
The company attributed the drilling success to a new induced polarization (IP) model. A follow-up 3,550-meter RC drilling program is planned, with all approvals in place and a mining lease application submitted for the Lightning and Monza area. Terrain Minerals’ board intends to pursue a gold-focused strategy moving forward.
Early-stage drilling at the Wildflower Gold Prospect also yielded encouraging results, with targets situated on NW trending shear zones similar to the Rothsay Gold Mine. Further exploration activities will be announced soon.
To fund these activities, Terrain Minerals completed a strategic placement to existing shareholders, raising $735,000 at $0.003 per share with attaching options. The company also announced a rights issue to shareholders, aiming to raise up to $1,800,000 under the same terms as the placement.
Metallurgical studies are underway at the Smokebush – Larins Lane Gallium (Ga) Oxide/Clay Project, funded by an industry/WA government initiative, with results expected mid-year. The Biloela Copper & Gold Project in Queensland was fully granted during the quarter. At the Lort River Project, reconnaissance drilling intersected significant TREO grades, including 8 meters at 4,037ppm TREO from 23 meters downhole.
The company participated in the RIU Conference in Fremantle and is scheduled to present at the AMEC Pitch N Pizza in Sydney and the RIU Sydney Resources Round up conference. Terrain Minerals also strengthened its market position with a Frankfurt Stock Exchange listing (FRA: T4Y).
