Junior explorer Terrain Minerals (ASX:TMX) has uncovered new gold and copper-nickel targets through a maiden exploration program over the Larin’s Lane prospect within its Smokebush Gold-Lithium Project in Western Australia.
The company reports a total of 834 soil samples were collected on a 100m-by-50m grid pattern across Larin’s Lane, which highlighted a gold anomaly about 700m-by-250m large and 2 open copper anomalies with associated nickel that span roughly 600m by 350m.
Terrain says anomalous gold values were detected in the central northern portion of Target 1 and notes minor isolated anomalies can also be observed along the southwestern flank within the monzogranite domain.
However, the company reports the northeastern flank, which has been classified as a genetically different monzogranite, exhibits uniformly low gold values compared to its southern counterpart.
Terrain says a mobile metal ion (MMI) extension program will now test a 9km-square area to define the boundaries of one of the copper-nickel anomalies. Once boundaries are defined, the company plans to drill test the targets.
Additionally, Terrain reports an induced polarisation (IP) survey is ongoing at Smokebush, which is expected to be completed by the end of May 2023.
Meanwhile, the company says elevated nickel values of more than 0.3 parts per million (ppm) were observed in multiple isolated anomalies across the sampled area and the surrounding monzogranite. Terrain reports these low nickel values indicate a low probability of nickel mineralisation.
The company also notes rock chip sample results have identified 2 areas located between the Monza and Paradise City prospects with up to 200ppm lithium oxide and potassium-rubidium ratios of less than 40, which is considered an indicator for lithium in pegmatites.
Terrain says newly generated drill targets are currently being scrutinised by consultants, and it will update the market when interpretations are finalised.
Terrain Minerals is a Western Australia mineral exploration company with a portfolio of projects considered prospective for gold, lithium, and rare earth elements (REE). These assets include the Smokebush, Lort River, Calytrix, and Wildviper Projects.
The Smokebush Gold-Lithium Project is located about 350km from Perth and covers 5 prospecting licences and 4 exploration licences.
Images: Terrain Minerals Ltd
