Terrain Minerals (ASX:TMX) has uncovered gallium from a phase one pegmatite reverse circulation (RC) drilling campaign at its wholly owned Smokebush Project in Western Australia.
The company, which has a market capitalisation of $7.4 million, says multi-element assay results from the drilling work identified multiple zones of gallium (Ga2o3) mineralisation hosted in mafic units at the Rabbit Warren and Paradise City prospects.
Some of the ‘significant’ results include drillhole 23SBRC001 with 10m @ 37.6g/t Ga2o3 within 86m @ 17.4g/t Ga2o3 from surface; and drillhole 23SBRC005 with 9m @ 30.9g/t Ga2o3 within 16m @ 24.1g/t Ga2o3 from 11m.
Terrain is now conducting a series of investigations as to the preferred host lithologies and geological setting for gallium and germanium within its existing portfolio of tenements for the purpose of testing for higher grades of these ‘crucial’ metals. The company is placing a particular emphasis on areas that are prospective for complementary mineralisation such as rare earth elements and base metals.
This includes a potential copper target at Larins Lane, alongside Terrain’s Lort River Project. In addition, Terrain’s Carlindie Project in the Pilbara also poses a potentially attractive gallium target.
Terrain Minerals’ share price has increased by 7.692% at $0.007 as of 1:00pm this afternoon.
Terrain Minerals is a mineral exploration company with a Western Australia-based asset portfolio. The company’s Smokebush Project is located 350km from Perth.
As of 30 June 2023, the company had $1.309 million cash and cash equivalents at hand, according to its latest quarterly report published on 19 July.
Write to Aaliyah Rogan at Mining.com.au
Images: Terrain Minerals