Terra Uranium Expands into Tin with LCT Metals Acquisition, Boosts Canadian Uranium Portfolio

Strategic Expansion into Tin and Precious Metals

Terra Uranium Limited (ASX:T92) has signalled a notable strategic pivot by acquiring 100% of LCT Metals Pty Ltd, a move that diversifies its mineral focus beyond uranium to include tin, gold, and silver exploration in the New England Tin Province of New South Wales. This acquisition brings with it two exploration licenses, including the historically significant Ottery Tin Mine, once the largest hard rock tin producer in the region.

The Ottery Tin Mine’s historical data, reviewed under modern JORC 2012 standards, reveals promising mineralisation with intercepts such as 66 metres at 0.52% tin and notable gold and silver grades. These results underscore the potential for a multi-commodity project that could complement Terra Uranium’s existing portfolio.

Advancing Uranium Exploration in the Athabasca Basin

Meanwhile, Terra Uranium continues to advance its uranium projects in Canada’s Athabasca Basin, a globally renowned uranium province. The company holds 29 claims covering over 120,000 hectares, with an additional 12 claims under option agreements with ATHA Energy Corp. These agreements effectively increase Terra Uranium’s land holdings by 33%, enhancing its footprint in this premium uranium jurisdiction.

Exploration efforts have identified 18 drill-ready targets across core projects such as HawkRock, Pasfield, and Parker, with advanced geophysical techniques like ZTEM and Ambient Noise Tomography guiding targeted drilling plans. The Spire & Horizon Projects, featuring shallower uranium targets, have commenced ground reconnaissance and airborne geophysics, setting the stage for drilling in 2025.

Financial Position and Market Context

Financially, Terra Uranium reported a cash balance of A$376,000 at quarter-end, supplemented by approximately A$500,000 raised through share placements during and after the quarter. The company also achieved a significant reduction in administrative and corporate costs, reflecting disciplined capital management amid ongoing exploration activities.

The timing of these developments aligns with a cautiously optimistic uranium market, where prices have recently rebounded to around US$66 per pound amid supply concerns and growing recognition of nuclear energy’s role in a low-carbon future. Terra Uranium’s diversified portfolio positions it to capitalize on this anticipated market recovery.

Looking Ahead

Terra Uranium’s immediate focus will be on integrating the LCT Metals acquisition, compiling extensive historical data, and planning follow-up exploration including field mapping and sampling. In Canada, the company is preparing for a coordinated drilling campaign across multiple projects, leveraging partnerships to optimize resource use and exploration efficiency.

While the company has discontinued its proposed acquisition of the Amer Lake Uranium Project and initiated legal action to recover expenses, its broader strategy remains robust, balancing risk with opportunity in both established and emerging mineral sectors.