Terra Uranium Acquires Historic Ottery Tin Mine with 2,700t SnO2 Production

Strategic Acquisition Broadens Terra Uranium’s Focus

Terra Uranium Limited (ASX:T92) has officially completed the acquisition of LCT Metals Pty Ltd, marking a pivotal expansion beyond its established uranium projects in Canada. This move brings two exploration licences in the New England Tin Province of New South Wales under its control, including the historically significant Ottery Tin Mine, along with the Castle Rag and Mole River prospects.

The acquisition, first announced in March 2025, positions Terra Uranium with a dual focus on tin and precious metals in Australia alongside its uranium assets in the Athabasca Basin. The Ottery Tin Mine, once the largest hard rock tin producer in the region, yielded approximately 2,700 tonnes of tin oxide (SnO2) at an average grade of 2%, underscoring the project's potential.

Historical Data Highlights High-Grade Mineralisation

Review of historical drilling data reveals promising intercepts, including a 66-meter section grading 0.52% tin and a 24-meter interval with 2.01 grams per tonne gold. The mineralised zone at Ottery extends at least 300 meters in length, 30 meters in width, and 120 meters vertically, with frequent intervals exceeding 5% sulphides. These results suggest a robust polymetallic system with significant tin, gold, and silver potential.

Additional prospects such as Castle Rag and Mole River exhibit high-grade silver and base metal mineralisation, with surface samples reporting silver concentrations as high as 1,670 grams per tonne and notable lead, zinc, and copper values. The Mole River prospect spans a 13-kilometer strike with multiple outcrops showing strong silver and tin anomalies, reinforcing the region’s exploration appeal.

Market Dynamics Favor Tin Exploration

Global tin prices have surged approximately 10% this year, driven by supply disruptions in key producing regions including the Democratic Republic of Congo, Indonesia, and Myanmar. These geopolitical challenges have tightened feedstock availability, particularly for Chinese smelters, while demand is buoyed by increased investment in AI hardware and other technology sectors.

Terra Uranium’s Ottery project benefits from proximity to the Taronga Tin Mine, currently being developed by First Tin and Metals X Limited, with only 10 kilometers separating the two. This adjacency to an active development project enhances the strategic value of Terra Uranium’s newly acquired assets.

Next Steps: Data Integration and Drilling Plans

Following the acquisition, Terra Uranium is prioritising the compilation and analysis of extensive historical exploration data to refine targets for follow-up fieldwork. The company plans to initiate mapping, sampling, and permitting activities in the near term, funded by recent capital raises, with drilling campaigns anticipated to commence shortly thereafter.

Executive Chairman Andrew Vigar emphasised the efficiency of the acquisition process and the promising nature of the historical data, signaling confidence in unlocking value from these high-grade zones. The integration of these projects complements Terra Uranium’s existing portfolio and aligns with its strategy to explore critical minerals in stable jurisdictions.