Heritage Approval Received For Maiden REE Drilling At Lort River & Smokebush Exploration Update

Terrain Minerals Limited (ASX: TMX) (Terrain) is pleased to announce that it has received heritage approval to drill at its 100% owned, Lort River rare earth elements (REE) project. Lort River covers an area of 320km² and is located within the heart of the Esperance REE province of Western Australia (refer to diagrams 1 to 7).

Terrain is excited to have secured all of the required clearances to commence its maiden proof of concept air core drilling campaign. The program will be conducted along the roadside and has been designed to test REE grades and thickness of the clay zones and is following up from the positive historic REE soil sampling results (F/note 1) over the Lort River exploration project (refer to diagram 4 & 5).

Highlights:

• Drill Rig secured from Kalgoorlie based drillers - Raglan Drilling.
• Heritage clearance approvals now in place.
• Program of Works (POW) applications approved along roadway.
• Internal exploration program design refinement underway.
• Targeting start of drilling during August 2023.

Commodities focused study: Terrain is proud to be part of a study by The Minerals Research Institute of WA (MRIWA) project M10500: Characterisation of clay-hosted rare-earth element (REE) deposits in Western Australia (WA). The study is a part WA government and industry funded study which has nine WA exploration companies participating. The study is aimed at advancing the WA REE sector forward. Other Esperance based companies also participating include Mt Ridley Mines Ltd and OD6 Metals Ltd.

Smokebush Exploration Update

• Larin’s Lane - MMI extension program completed, assays awaiting.
• Larin’s Lane – Targeting maiden air core drilling in Sep/Oct 2023.
• “Results Pending” Multiple IP Gold & Lithium pegmatite targets tested by 12 RC drill holes for 1,383m.

Larins Lane Extension Program – 9km2 MMI extension soils program, now completed with assays pending. The extension program was designed to define the southern boundaries of the emerging 600m by 350m open Copper/Nickel anomaly. An excitingly gold anomaly 700m by 250m was also identified during the initial program.

Larins Lane, is located in the southeast of the Smokebush Project and interpreted as an Archean greenstone unit, potentially part of the Yalgoo-Singleton greenstone belt, host of 29Metals (ASX: 29M) Golden Grove Copper + Gold + Silver + Zinc + Lead Mine (refer to diagram 8 to 10).

Next stage of exploration at Larin’s Lane:

• Define boundaries of “open” Copper/nickel anomaly from pending MMI soil results.
• Program of works (POW) applications already approved.
• Planning for a maiden Air-core drill program at both anomalies in Sep/Oct 2023.

Terrain is very excited to have uncovered these two very exciting and emerging targets during the first MMI soil program over Larin’s Lane, which until now has seen no systematic exploration over the transported soils covering the interpreted Archean greenstone unit that is 4km long and 300-400m wide, wedged between two Monzo granites (refer to diagram 12). Larin’s Lane sits in the same geological setting as Golden Grove located to the north (refer to diagram 11).

Smokebush - Pending Drill Results

Drilling Highlights (Gold & Lithium):

• Twelve (12) RC holes completed for 1,383 meters in total.
• Six (6) holes targeting IP generated anomalies for Gold;
  • All six (6) holes successfully intercepted sulphides (pyrite) spatially related to the modelled geophysics.
  • One (1) pegmatite hole unexpectedly intersected sulphide (pyrite) in mafic volcanics.
• Six (6) holes targeting mapped pegmatite units for Lithium;
  • Five (5) holes intercepted zones between 10m to 20m wide (F/note 2).
  • No visual spodumene was seen in pulverised spoils, (assay’s now pending results).
  • Unexpected pyrite zones will be assayed for gold and base metals.

JORC information can be located in ASX release: 26 July 2023 - Smokebush “Phase 2” Drilling Completed & Project Update.

Additional POW approvals are already in place to ensure Terrain can immediately go back and continue drilling. The exploration team is excited by the field observations from the IP drilling.

The northern lithium targets around Monza and Hurley where considered the most prospective lithium targets by Terrain’s consultants however were initially discounted due to being narrow. As access tracks were made to access IP targets, additional clearing activities exposed large parts of the pegmatites hidden undercover, and therefore better targets. The southern pegmatite area which was tested during the phase one campaign has not retuned any economic lithium assay results.

Click here for the full ASX Release

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