Terrain Minerals Limited (ASX: TMX) ('Terrain' or the 'Company') is pleased to announce the commencement of the phase 2 drilling campaign targeting chargeability gold anomalies (IP) and pegmatites at the Company's 100% owned Smokebush Project, located approximately 350 kilometres north of Perth, Western Australia.
Highlights - Phase 2 Drilling Targeting Gold & Lithium: 12 RC drill holes for 1,340m program has now commenced. o 6 holes targeting Terrain's New Priority gold IP anomalies. o 6 holes into the northern pegmatites. IP anomalies recently identified by Terrain at Monza, Hurley, & Paradise City as well as two other isolated IP targets will be tested, all hidden discretely under cover. Additionally, Pegmatites near Monza and Hurley are also being tested for Lithium potential.
Highlights - First Phase Drilling completed June 2023: Pending Assay from first phase drilling expected late August 2023 11-hole drilled for a total 1,198m; o 22m zone of logged pegmatite (F/note 1) hole 23SBRC004 (Hole ended in Pegmatite). o 16m zone of logged pegmatite (F/note 1) hole 23SBRC005. 10 of 11 holes intercept pegmatites (some intercepting multiple zone). Note: JORC information for phase 1 drilling located in ASX releases: 19 June 2023 - First phase of RC drilling successfully intersects pegmatites at Smokebush. Larin's Lane - 'Extension Program' Mobile Metal Ion (MMI): Follow-up MMI soil sampling program testing the southern continuation of the currently 600 metres by 350 metre copper-in-soil geochemical anomaly. o Geology at Larin's Lane prospect interpreted as potentially part of same greenstone belt that hosts the Golden Grove Copper + Gold + Silver + Zinc + Lead Mine. o Large New Gold Anomaly 700m by 250m also identified in first MMI program.
The phase two drill program has been designed to target both gold and/or base metal mineralisation potential at six (6) separate high-priority geophysical targets across the Smokebush project area and six (6) pegmatite targets for lithium mineralisation. Terrain conducted induced polarisation (IP) geophysical surveys across its Smokebush Project during the first half of 2023 which successfully returned multiple, positive chargeability anomalies within the north to northeasttrending geological shear zones at the Hurley, Paradise City, Monza and Mirja prospects.
Note: Terrain's previous RC drilling at Monza appears to have been drilled along a secondary structure running parallel to the new IP target and came within 50m of the new IP target (refer to diagram 3 and 4). Drilling results from this program can been found in Terrain's ASX announcement released on 12 October 2020 - Exciting Drilling results at Smokebush Gold project. Background information on gold mineralisation across Yalgoo Mineral Field, which includes gold mineralisation reported by Warriedar Resources Limited (ASX: WA8) (F/note 3) that was previously mined by Minjar Gold, and reported a historic production grade averaging 3.3 g/t (F/note 4). These historic mines also appear to be structurally controlled and related to north to northeast-trending shear zones and also having a relationship between gold mineralisation and sulphide minerals, as reported by Warriedar Resources in relation their Windinne Well pit (F/note 5) whish was also seen in Terrain's previous drilling campaigns at the Monza prospect. The current drilling campaign forms part of Terrains three-part exploration campaign that is running consecutively and is in line with the Company's stated commitment of seeking to make a company-defining discovery in 2023 which aims to create additional and meaningful wealth for its shareholders over the short, medium and longer term.
Phase 1 Drilling Program - Highlights & Further Explanation
The Phase 1 RC drill program was designed to test the lithium potential of the outcropping pegmatite units mapped across the Paradise City prospects (f/note 6). As outlined in Jorc tables in the ASX announcement released on 19 June 2023, Terrain was encouraged by the initial potential thickness of the interpreted pegmatite +/- felsic intrusion units intersected by the Phase 1 drill program, which included an interpreted width of at least 22 metres in hole 23SBRC004, which ended in an interpreted pegmatite +/- felsic intrusion unit, the downhole width of 22 metres may understate the actual width of the interpreted pegmatite +/- felsic intrusion unit at this location and so the 'true width' of this intersection is not known. As Highlighted in the ASX release 19 June 2023 announcement, Terrain Minerals Cautions Readers that visual estimates of rock types and/or mineral abundance are the result of observations or estimates made by professional geologists during, and subsequent to, drilling. Those observations should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of the visual mineralisation (if reported) in preliminary geological logging. The Company will update the market when laboratory analytical results become available. The Terrain team was highly encouraged by the visual estimates and preliminary geological logging returned from the Phase 1 lithium-focused drill program and has moved quickly to commence the follow-up Phase 2 drilling program.
As with the Phase 1 drilling, the Company may release preliminary visual estimate information to the market in the second half of July, following completion of the Phase 2 drilling. Terrain Minerals would anticipate receiving the final assay results from the Phase 2 lithium drilling sometime in late August or early September 2023.
Larin Lane 'Extension Program' Mobile Metal Ion (MMI): o Follow-up MMI soil sampling program testing the southern continuation of the currently 600 metres by 350 metre copper-in-soil geochemical anomaly has commenced. o Geology at Larin Lane prospect interpreted as potentially part of same greenstone belt that hosts the Golden Grove Copper + Gold + Silver + Zinc + Lead Mine. o Large New gold Anomaly 700m by 250m also identified from the first program. Larin Lane prospect, located in the southeast of the Smokebush Project and interpreted as a remanent Archean greenstone unit, potentially part of the Yalgoo-Singleton greenstone belt being the host of 29Metals (ASX: 29M) Golden Grove Copper + Gold + Silver + Zinc + Lead Mine (refer to diagram 2 and 5).
The initial soil (mobile metal ion, or MMI) sampling over the northern part of the interpreted remanent Archean greenstone unit at the Larins Lane prospect successfully identified a large (700 metre by 250 metre) gold-insoil geochemical anomaly plus a separate 600 metre by 350 metre copper-in-soil geochemical anomaly. Encouraged by these promising results, the Company commenced an MMI soil sampling program over the southern extension of the Larins Lane Gold and Copper Prospect on 28 June 2023.
Contact:
Tel: +61 8 9381 5558
ABOUT TERRAIN MINERALS LIMITED
Terrain Minerals Limited (ASX: TMX) is a mineral exploration company with a Western Australian based asset portfolio consisting of:
Competent Person's Statement
The information in this report that relates to Exploration Results are based on information compiled by Mr. B. Bell, who is a Member of the Australian Institute of Geoscientists and is a consultant retained by Terrain Minerals Ltd. Mr Bell is a shareholder and options holder of Terrain Minerals Ltd. Mr Bell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Bell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
TERRAIN MINERALS LIMITED 
