Terrain Minerals (ASX:TMX) in 2025 is focusing on advancing two new priority projects, considered prospective for copper-gold and lithium, which are expected to be granted this quarter.
The Biloela Copper and Gold Project, covering 2,462km2, sits along strike of the Cracow Gold Mine in Queensland. The company says progress is being made towards the tenement grant and the market will be updated in due course.
Meanwhile, the Carlindie Lithium Project, covering 1,135km2, sits in the East Pilbara region of Western Australia. Terrain says the majority of this tenure has been held under application since 2008, with no exploration undertaken.
Originally, nine objections have been made to the tenements application, however, Terrain has negotiated these issues and all groups are now in principle agreement. The final documentation is being prepared for granting.
In parallel, Terrain is also focusing on testing drill-ready targets, considered prospective for gold, nickel, and copper, across three of its projects —Wildflower, Larins Lane, and Lort River.
At Wildflower, a stage two reverse circulation drilling program is planned to begin this year, comprising 1,368m of drilling.
This news comes after the company completed stage one in December. Samples are being submitted for testing, with results pending from three targets.
At Larins Lane, a twin reverse circulation hole is planned for metallurgical sample material in Q1 and Q2 2025. The results are expected in mid-year 2025.
Meanwhile, at Lort River, the company is focusing on drill testing high-priority sulphide bedrock conductors uncovered from a versatile time-domain electromagnetic survey.
Terrain is currently planned to begin a maiden reverse circulation drilling program early this quarter.
Terrain Minerals is a mineral explorer focused on its diversified portfolio of projects.
According to NASDAQ, copper prices saw gains during 2024 hitting the US$5 per pound mark in May. However, by the end of 2024, copper retreated back to the US$4 range. Since then, copper’s spot price has remained relatively unchanged sitting at US$4.15 per pound as of 8 January 2025.
Trading Economics says investors are focusing on key US labour market data this week to assess the outlook for the Federal Reserve’s monetary policy.
Meanwhile, gold continues to demonstrate itself as a safe haven asset, as it surpassed several records throughout last year and has been sitting at about $4,259 per ounce. However, although the precious metals’ price outlook remains bright, gold explorers’ outlook is relatively subdued.
Mining.com.au found that several industry executives in the gold exploration space are witnessing the market unwilling to attribute value to their companies.
On the other hand, the demand for lithium is projected to rise in the near future, as Mining.com.au previously reported that global lithium carbonate equivalent demand will grow 13% by 2030.
The Australian Office of the Chief Economist forecasts a rebound in lithium spodumene prices to US$1,156 per tonne this new year from a 2024 low of US$750 per tonne.
Write to Aaliyah Rogan at Mining.com.au
Images: Terrain Minerals
