Terra Uranium (ASX: T92) is broadening its exploration interests, adding precious metals projects in New South Wales to its existing Canadian uranium portfolio. The company’s strategic expansion occurred during the June quarter, marking a significant step in diversifying its resource base. Terra Uranium focuses on acquiring, exploring, and developing energy metals projects. Its primary focus remains on uranium exploration in the Athabasca Basin region of Canada.
In April, Terra Uranium acquired LCT Metals, gaining access to high-grade tin-silver-gold exploration licenses, including the historical Ottery tin mine, the Castle Rag silver project, and the Mole River silver-tin project. The Ottery mine, formerly the largest hard rock tin producer in the New England region, yielded approximately 2,700 tonnes of tin oxide at an average grade of 2%. Following this, Terra Uranium acquired Dundee Resources, securing the Glen Eden, Bald Nob, and Deepwater projects which form the state’s largest undeveloped tungsten-tin-molybdenum project, located near the Ottery site.
Despite the expansion into critical metals, Terra Uranium remains committed to its Canadian uranium projects. The company has reciprocal agreements with ATHA Energy, granting options to acquire significant stakes in each other’s projects. A coordinated exploration program is planned for 2025/26 across all projects with multiple drill-ready targets. Executive chair Andrew Vigar stated that the company is actively pursuing similar third-party arrangements to the ATHA Energy agreement.
Mr. Vigar highlighted that the expansion into New South Wales marks a major step for T92, adding that it will now include critical metals. Terra Uranium is well-funded for the second half of 2025, having raised $864,000 through a share placement in July, positioning it favourably to capitalise on any potential recovery in uranium prices.
