Terrain Minerals Limited (ASX: TMX) (‘Terrain’ or the ‘Company’) is pleased to inform the market that the Company has submitted tenement applications totalling 2,500 square kilometres of highly prospective ground adjacent to, and along strike of, the Cracow Gold Mine in Queensland.
Included within this extensive tenement application package is at least two known historic copper mines as well as numerous copper and gold targets, first identified by Rio Tinto, Gold Field Limited and Newcrest Mining Ltd.
Highlights: Seven (7) potential copper and gold sites identified within the Biloela/Cracow region of Queensland, including: Prospect Park, where 8 rock chip samples collected returned values up to 2.33 g/t gold and 9.23% copper.
Mari, where secondary copper mineralisation has previously been reported.
Lookerbie, which includes the historic Perkins copper occurrence.
Drumburle, an abandoned copper mine initially discovered by CRA (now Rio Tinto).
Wild Scotsman (Mt Tam), initially identified by Gold Fields Limited who discovered a copper and gold mineralisation.
Oaky Creek, which is marked by an abandoned copper-gold-silver mine.
Auburn, where soil sampling returned up to 0.45% copper and 3.2 g/t gold.
Follow up exploration planning underway: Terrain’s internal geological team has identified 7 potential copper and gold sites at the Company’s 100% owned (under application) Biloela Project (Biloela) in Queensland. Terrain estimates that it will take around six months until applications are granted, and heritage agreement will also need to be established. The sites were identified as part of a comprehensive and independent, prospectivity study of existing geological and geophysical data sets by external consultants commissioned by Terrain revealed several zones of potential copper-gold mineralisation. The Biloela Project lies 13 kilometres north of the Cracow Gold Mine (refer to diagram 1) in the Glandore and Theodore region of Queensland. The northwest-trending faults within the north-eastern part of the Biloela Project are similar to those present at the Cracow Gold Mine and are considered the most prospective for epithermal-style gold mineralisation.
The northwest-trending faults within the north-eastern part of the Biloela Project are similar to those present at the Cracow Gold Mine and are considered the most prospective for epithermal-style gold mineralisation. The Geological Survey of Queensland (GSQ) database reveals the Biloela Project has been subject to numerous historical exploration activities primarily focused on gold, copper and coal. GSQ reports a total of 19 mineral occurrences within Terrain’s Biloela Project, of which seven sites include historical mining activities.
Tel: +61 8 9381 5558
Email: [email protected]
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 and lithium exploration project located with this prospective Yalgoo Mineral Field of Western Australia. The Company’s Smokebush Project neighbours Warriedar Resources Limited’s (ASX: WA8) (formally Minjar, Golden Dragon Project), and The Company’s exploration campaigns targeting both gold, lithium and now Copper/Ni across its Smokebush Project is ongoing. 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 RC drilling program which is scheduled to commence late June 2023. SB – Lithium – 11+ pegmatites identified to date that are potentially drill worthy, ranging up 10m wide and up to 200m long before appearing to go under cover. The pegmatite swarms run along a 4 km long zone. The Paradise City pegmatites drilling results are now pending results from the phase 1 RC drilling campaign, conducted June 2023. Additional pegmatites at the Monza and Hurley areas will be tested during the phase 2 RC drilling campaign. 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 being scheduled to full defined this target prior to drill testing. 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.
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