Terrain Minerals is progressing key drilling campaigns across its Western Australian and Queensland projects, aiming for a maiden JORC resource at its Lightning gold-silver prospect by mid-2026. The company’s diversified portfolio also includes critical metals like gallium, lithium, copper, and rare earth elements.
- Ongoing 34-hole RC drilling campaign at Smokebush with results pending
- Mining lease granted over Lightning gold-silver project, targeting maiden JORC resource mid-2026
- Wildflower gold project drilling to commence February 2026 with results expected April
- Larin’s Lane gallium and rare earth exploration target defined; metallurgical study underway
- Biloela copper-gold and Carlindie lithium-gold projects advancing with soil sampling and exploration
Exploration Momentum Builds at Smokebush
Terrain Minerals (ASX, TMX) is steadily advancing its flagship Smokebush Project in Western Australia, where a 34-hole reverse circulation (RC) drilling program totaling approximately 6,800 metres is currently underway. This campaign focuses on the Lightning gold-silver prospect, where a mining lease has recently been granted, marking a significant milestone for the company. The drilling aims to underpin a maiden JORC resource estimate targeted for mid-2026, with assay results eagerly awaited by investors and analysts alike.
Previous drilling at Lightning has delivered encouraging results, with 17 of 21 holes intersecting gold mineralisation and notable silver grades emerging. Early modelling suggests a north-trending shear zone controls the mineralisation, with east-west lithological traps potentially hosting thicker, higher-grade zones. The current program also includes a four-hole diamond drilling component to further delineate the deposit’s geometry and grade continuity.
Expanding Gold and Gallium Targets
Beyond Lightning, Terrain is preparing to commence drilling at the Wildflower gold project in February 2026. An induced polarisation (IP) survey has identified three large targets with geological similarities to Lightning, extending over 800 metres. The 13-hole, 2,300-metre RC drilling campaign is expected to deliver results by April 2026, potentially expanding the company’s gold footprint in the region.
Meanwhile, the Larin’s Lane project within Smokebush is gaining attention for its gallium and rare earth element (REE) potential. Terrain released a JORC-compliant exploration target in late 2024, covering just 5% of a 27 square kilometre area, which remains open for further expansion. A metallurgical study funded by the Minerals Research Institute of Western Australia and conducted with Curtin University is underway, with results due in late Q1 2026. Gallium’s critical role in semiconductor and emerging technologies underpins the strategic importance of this asset.
Diverse Portfolio Across Tier 1 Jurisdictions
Terrain’s exploration footprint extends beyond Western Australia. In Queensland, the Biloela project encompasses 2,462 square kilometres of tenure with multiple historic copper-gold mines and seven priority drill targets identified. An independent review has confirmed the presence of volcanogenic massive sulphide, porphyry copper-gold, and epithermal gold systems, positioning Biloela as a compelling exploration opportunity.
In the Pilbara region, the Carlindie project covers over 1,100 square kilometres and targets lithium and gold mineralisation. A recent soil sampling program along a 15-kilometre tectonic structure has been completed, with results pending. This project benefits from proximity to established lithium operations and is strategically located within a premier lithium province.
Additionally, the Lort River project in southern Western Australia is advancing rare earth element exploration, with neodymium and praseodymium grades comparing favourably to leading Australian and Brazilian deposits. Initial drilling has identified a new high-grade clay regolith basin, and follow-up metallurgical and air-core drilling programs are planned.
Strategic Positioning and Next Steps
Terrain Minerals is positioning itself as a multi-commodity explorer focused on metals critical to future technologies, including gold, silver, gallium, lithium, copper, and rare earth elements. The company’s disciplined exploration approach, combined with its portfolio of projects in Tier 1 jurisdictions, aims to deliver cost-effective value creation while mitigating development risks.
Upcoming catalysts include the release of drilling results from the ongoing Smokebush RC and diamond programs, Wildflower drilling outcomes in April, and metallurgical study results from Larin’s Lane. These milestones will be critical in shaping Terrain’s resource base and advancing its projects toward development.
Bottom Line?
As Terrain Minerals advances drilling and resource definition, the coming months will be pivotal in validating its multi-commodity growth strategy.
Questions in the middle?
- Will the upcoming assay results confirm the scale and grade needed for a robust JORC resource at Lightning?
- How will metallurgical outcomes from Larin’s Lane impact the commercial viability of the gallium and rare earth targets?
- What exploration progress and drilling timelines can investors expect for the Biloela and Carlindie projects?