Exceptional Silver Grades Confirm Castle Rag's Potential
Terra Uranium Limited (ASX:T92) has announced further high-grade silver mineralisation at its 100% owned Castle Rag project in New South Wales, confirming the site's potential as a significant silver resource. Recent analysis of historical surface samples has revealed extraordinary silver grades reaching up to 941 g/t Ag, alongside substantial lead content of 18.9% Pb and antimony values of 266 g/t Sb.
The impressive results come from 14 high-grade silver surface samples exceeding 100 g/t Ag, identified from 23 historical surface samples collected in 2022. These findings build upon previously announced silver intercepts of up to 1,670 g/t Ag, further establishing Castle Rag as a potentially significant silver deposit.
"These results reinforce our belief in Castle Rag's exceptional potential," said Andrew J Vigar, Chairman of Terra Uranium. "The consistently high grades across multiple sampling points suggest we're dealing with a robust mineralised system that warrants comprehensive exploration."
Multi-Deposit Silver System Emerging
The high-grade samples were collected across three distinct deposits within the Terra Uranium Castle Rag project:
- Castle Rag Silver Mine – The primary deposit with historical production of 48 tonnes of silver and 692 tonnes of lead from 4,000 tonnes of ore
- Matt & Walkers Deposit – Located 500m north of Castle Rag, yielding samples with up to 723 g/t Ag and 2.21% Cu
- Gilligan's Deposit – Situated 1,200m northeast of Castle Rag, with samples containing up to 172 g/t Ag
| Deposit Location | Top Silver Results | Notable Associated Metals |
|---|---|---|
| Castle Rag Mine | 941 g/t Ag | 18.90% Pb, 266 ppm Sb, 2.45% Zn |
| Matt & Walkers | 723 g/t Ag | 2.21% Cu, 1.04% Pb |
| Gilligan's | 172 g/t Ag | 0.86% Cu, 1.27% Pb |
The discovery of high-grade mineralisation across multiple locations suggests a potentially extensive mineralised system throughout the project area.
Understanding Silver Grades: What These Results Mean
For investors unfamiliar with silver grades, these results deserve context. Silver grades above 100 g/t are considered high-grade in the industry, while grades exceeding 500 g/t are exceptional. For comparison, many operating silver mines work with grades between 100-300 g/t Ag.
The Castle Rag project's peak sample of 941 g/t Ag represents nearly a kilogram of silver per tonne of rock – an extraordinary concentration that places it among the highest-grade silver projects globally.
Combined with significant lead, copper, and antimony values, these results indicate a potentially valuable polymetallic deposit.
Historical Production Significance
Furthermore, the historical production comparison with the Webbs Silver Deposit is telling. Castle Rag's historical production of 48 tonnes of silver significantly exceeds Webbs' 5.5 tonnes, suggesting Castle Rag may be the more substantial deposit of the two.
Strategic Position in NSW's Critical Metals Corridor
Terra Uranium is strategically positioning itself as a critical metals player in New South Wales' New England region. The company's portfolio includes:
- Castle Rag Silver deposit
- Ottery Tin Mine
- Mole River base metals project
- Glen Eden, hosting NSW's largest tungsten deposit
This diversified critical metals portfolio places Terra Uranium in a strong position to benefit from increasing demand for these minerals, which are essential for modern technologies and the green energy transition.
Exploration Pathway: What's Next for Castle Rag
Terra Uranium has outlined its immediate plans to advance the Castle Rag project:
- Further review of historical datasets
- LiDAR and open file geophysics review
- Remote sensing analysis
- Access approvals, which are currently underway
Following the thorough analysis of past work, the company will develop a comprehensive exploration programme aimed at delineating the full extent of the mineralisation and potentially establishing a mineral resource.
Investment Opportunity: Why Terra Uranium Deserves Attention
Terra Uranium presents a compelling investment opportunity based on several key factors:
1. Exceptional Grades
The extraordinary silver grades of up to 941 g/t Ag place Castle Rag among the highest-grade silver projects in Australia. These grades significantly exceed those of many operating silver mines globally.
2. Historical Production
The Castle Rag Silver Mine's historical production of 48 tonnes of silver from just 4,000 tonnes of ore demonstrates the deposit's high-grade nature and established mineralisation.
3. Multiple Deposit Potential
The identification of high-grade silver across three distinct deposits (Castle Rag, Matt & Walkers, and Gilligan's) suggests significant exploration upside and the potential for a district-scale mineralised system.
4. Strategic Metal Focus
Silver's increasing importance in renewable energy technologies, particularly in solar panels, positions it as a critical metal for the energy transition, potentially driving increased demand.
5. Diversified Portfolio
Terra Uranium's broader portfolio of critical metals projects in the New England region provides investors with exposure to multiple commodities essential for modern technologies.
Why Follow Terra Uranium Castle Rag Project Now
With silver prices showing strength and growing industrial demand, Terra Uranium's Castle Rag project represents a timely opportunity in the precious and critical metals space. The exceptional grades demonstrated across multiple sampling points suggest substantial resource potential, while the company's methodical approach to exploration indicates a disciplined path forward.
The combination of historical production, verified high-grade samples, and a strategic position in NSW's mineral-rich New England region makes Terra Uranium a compelling prospect for investors seeking exposure to silver and critical metals with significant development potential.
As Terra Uranium advances its exploration program at Castle Rag, investors should watch for further announcements regarding the comprehensive exploration programme, which will likely include drilling to test the depth and lateral extent of these high-grade silver occurrences.
Moreover, the presence of substantial antimony values (up to 266 g/t Sb) adds another dimension to the Terra Uranium Castle Rag project, as antimony is classified as a critical mineral with applications in flame retardants, batteries, and semiconductor technology.
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