Terrain scoops up prospective Mid West holding

Terrain Minerals has made a significant land grab for a new 668 square kilometre package of base metals and gold exploration tenements in WA’s Mid West region. The group of tenements will form its new Calytrix project 50km north of the company’s Smokebush gold project. Two tenements have officially been granted and the approval of two more is expected by Terrain soon.

The company says the area has seen little to no exploration activities despite its proximity to historical goldfields and operating major base metal mines near Yalgoo including ASX-listed 29Metals’ Golden Grove mine less than 10km to the west.

Within 20km south is ASX-listed Tempest Minerals’ Meleya project where a discovery announced in March sent Tempest’s share price soaring from 2.3 cents to 21.5 cents within a week.

The explorer is currently on site following up on multiple areas of interest within the project it had identified from available data and geophysics.

Whilst in the area the company plans to visit Smokebush to investigate and sample a south-east striking Archean greenstone rock unit, coincident with several magnetic high responses.

Terrain observes the elongated rock unit of 5km by 400m appears to be heading towards ASX-listed Surefire Resources’ Yidby gold project where numerous broad gold intersections have recently been drilled.

Yidby is less than 10km to the south-east of Smokebush and Surefire’s recent round of exploration yielded 60m at 1.04 grams per tonne gold from 32m including 4m at 10.4 g/t gold from 72m in a single hole. Notably, Surefire’s drilling has been extending mineralisation to the north-west — in the direction of Smokebush.

At the company’s Wild-viper gold project 68km north of Leonora, Terrain plans to conduct a geophysical survey to scan through the soils covering the most of the tenement.

In 2020, Terrain sold its Great Western gold deposit of 62,100 ounces, contained within the Wild-viper tenement to ASX-listed Red 5 for a package of $2.2 million of Red 5 shares.

Previous rock chip sampling by Terrain had yielded results up to 9.92 g/t gold, highlighting the potential in the broader area for mineralised extensions along the same geological structure running through Great Western.

Attacking its portfolio with a multi-pronged approach is sure to generate a strong flow of news for Terrain Minerals. It will be interesting to see if it pays off. Watch this space.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au