Terrain Minerals Kicks Off 3,350m Expansion Drilling at Lightning & Monza Gold Prospects
Terrain Minerals (ASX: TMX) has commenced a significant expansion drilling program at its promising Lightning and Monza gold prospects, with the company targeting high-grade gold and silver mineralisation across a series of promising IP anomalies.
Major Gold Expansion Drilling Campaign Underway
The drilling crew has arrived at Terrain's 100%-owned Smokebush Project in Western Australia and begun work on a comprehensive 17-hole, 3,350-meter RC drilling program. The terrain minerals gold drilling program aims to expand on recent high-grade drilling results, including:
- 11 metres @ 6.03 g/t gold and 43.5 g/t silver from 75 metres (SBRC063) at Lightning
- 3 metres @ 6.12 g/t gold from 26 metres (SBRC064) at Lightning
- 5 metres @ 3.77 g/t gold from 180 metres (SBRC065) at Monza
The program is designed to test a 600-meter long IP anomaly at Lightning, which runs parallel to the 700-meter long Monza structure just 50 meters away.
"This drilling program marks a significant step in our systematic exploration approach at Smokebush. The parallel Lightning and Monza structures present a compelling opportunity to expand our high-grade gold footprint rapidly," stated Justin Virgin, Executive Director of Terrain Minerals.
Lightning Strikes Gold and Silver
The Lightning target represents a particularly exciting opportunity for Terrain. First identified in May 2023 through IP geophysical survey modelling, the target was confirmed in November 2023 when initial drilling intersected 2 metres @ 6.22 g/t gold.
Recent multi-element analysis has revealed a strong positive correlation between gold mineralisation at Lightning and pathfinder elements including lead, zinc, silver, and arsenic—suggesting a potentially significant mineralised system with VMS (Volcanogenic Massive Sulfide) characteristics.
This is particularly noteworthy given that established VMS-style mines like Golden Grove and Mt Gibson operate approximately 50km on either side of the Smokebush project.
| Target | Strike Length | Key Intercepts | Mineralisation Style |
|---|---|---|---|
| Lightning | 600m | 11m @ 6.03 g/t Au, 43.5 g/t Ag | Associated with sulphides |
| Monza | 700m | 5m @ 3.77 g/t Au | Orogenic gold system |
Path to Resource Definition
Terrain has set an ambitious goal to release an initial Mineral Resource estimate for the Lightning & Monza Gold Prospect by early to mid-2026. To support this objective, the company has:
- Submitted a Mining Lease application for the Monza Gold Prospect (M59/796)
- Scheduled metallurgical test work to commence in Q2 2025
- Commenced a non-renounceable rights issue to raise approximately $1.8 million
The funds raised through the 1-for-3.7 rights issue (priced at $0.003 with free-attaching options exercisable at $0.005) will support ongoing exploration efforts, with board members committing approximately $231,000 or 12.8% of the total raise.
Understanding IP Geophysics in Gold Exploration
IP (Induced Polarization) geophysics represents an important exploration methodology for companies targeting sulphide-associated gold deposits. The technique works by measuring how the ground responds to induced electrical currents, with certain responses indicating the presence of minerals that can hold electrical charges.
In gold exploration, IP surveys are particularly valuable when gold mineralisation is associated with sulphide minerals, as is the case at the Smokebush Project. The technique can detect disseminated sulphides that might not be visible at the surface or in drill samples, making it an effective tool for identifying potential mineralised zones that traditional exploration methods might miss.
How IP works in practical terms:
- Electrical current introduction: Electrodes send an electrical current into the ground
- Measuring ground response: Instruments measure how the ground stores and releases this electrical charge
- Identifying anomalies: Areas with sulphide minerals produce distinctive "chargeability" responses
- Data processing: Advanced modelling converts these responses into 2D and 3D images showing potential mineralisation zones
At Smokebush, IP surveying has proven its effectiveness by identifying the 600-meter long Lightning target, which previous drilling campaigns missed by approximately 50 meters. This demonstrates how modern geophysical techniques can significantly enhance exploration success rates by providing more precise targeting information.
Regional Context and Infrastructure Advantages
The Smokebush Project benefits from excellent regional infrastructure, situated within the prolific Murchison gold region approximately 350km north of Perth. Nearby operations include Golden Grove, Mt Gibson, and various gold mines in the vicinity.
This strategic location provides potential processing options for any future development, enhancing the economic potential of discoveries at Lightning and Monza.
Why Investors Should Watch Terrain Minerals
Terrain's systematic exploration approach at Smokebush is delivering impressive results, with multiple avenues for value creation:
- Near-term resource definition target with drilling designed to expand known high-grade zones
- Strong silver credits that could significantly enhance project economics
- Potential VMS-style mineralisation indicated by multi-element analysis and regional geology
- Multiple untested parallel structures that could further expand the mineralised footprint
- Clear path to development with mining lease application already submitted
With drilling results expected approximately 8 weeks after the completion of the current campaign, investors should watch closely for news that could significantly advance this promising gold-silver project.
The company's approach aligns with industry best practices for junior explorers: starting with geophysics to identify targets, followed by strategic drilling to confirm mineralisation, and building toward resource definition. This methodical strategy reduces exploration risk while maximising the potential for significant discoveries.
Metallurgical Testing Set to Commence
An important aspect of Terrain's development strategy is the scheduled metallurgical test work on the Lightning gold and silver mineralisation, set to commence in Q2 2025. These studies will provide crucial information on:
- Gold and silver recovery rates
- Optimal processing methods
- Potential by-product credits
- Processing cost estimates
The test work will focus on gravity concentration and cyanide leach (CIL) optimisation, with leading independent precious metal metallurgical consultants engaged to oversee the program. Results from these studies will play a vital role in determining the economic viability of any future mining operation.
Multiple Exploration Opportunities Within Smokebush
While Lightning and Monza represent the current focus of Terrain's exploration efforts, the broader Smokebush Project encompasses several additional prospective areas:
- Wildflower Gold Prospect: Located southwest of Monza, with previous drilling returning results including 15m @ 1.49 g/t gold
- Paradise City Gold Prospect: Historic drilling results include 3m @ 2.17 g/t gold from 10m
- Larin's Lane Gallium & REE Prospect: Maiden drilling program in late 2023 intersected broad zones of gallium mineralisation over a 9km by 3km area
This portfolio approach provides Terrain with multiple opportunities for discovery and development within a consolidated land package, all benefiting from the same regional infrastructure advantages.
Conclusion
The commencement of this expansion drilling program represents a significant milestone in Terrain Minerals' systematic exploration and development strategy at the Smokebush Project. With high-grade gold already confirmed at both Lightning and Monza, the current terrain minerals gold drilling program has the potential to substantially expand the known mineralisation and move the project toward a maiden resource estimate.
The combination of high-grade gold, significant silver credits, and potential VMS-style mineralisation makes this a particularly compelling project within the well-established Murchison gold region. As results from the current drilling program become available in the coming months, investors should watch for developments that could significantly enhance the value proposition of this promising gold-silver project.
Want to Invest in the Next Major WA Gold Discovery?
Find out why Terrain Minerals' high-grade gold and silver results at the Smokebush Project could represent a significant investment opportunity. With impressive intersections including 11m @ 6.03 g/t gold with 43.5 g/t silver, and a clear path to resource definition, TMX is systematically advancing this promising project. To learn more about their expansion drilling program and investment potential, visit www.terrainminerals.com.au today.
