Terrain Minerals (ASX:TMX) has kicked off a maiden drilling program at its wholly owned Lort River Rare Earth Element (REE) Project in Western Australia.
The company, which has a market capitalisation of $5.95 million, says the proof-of-concept aircore drill campaign is being conducted along the road vergers and has been designed to test REE grades and thickness of the clay zones.
Drilling comprises 10 holes for 600m and will be following up on ‘positive’ historical 1m-deep auger sampling results over the road network at the project.
Terrain says the program should take 3 to 4 days to complete, with results expected during October 2023.
The Lort River Project covers an area of 320km-square and is located in the Esperance REE province of Western Australia.
Terrain Minerals is a Western Australia-based minerals exploration company focused on discoveries in ‘world-class’ mineral provinces. As of 30 June 2023, the company had $1.309 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Terrain Minerals
