Terramin Restarts Drilling at South Gawler Ranges in $7.5M JOGMEC Deal
Terramin Australia has resumed a key diamond drilling program at its South Gawler Ranges Project, targeting a promising IOCG-style mineral system under a $7.5 million earn-in agreement with JOGMEC.
- Exploration drilling resumed targeting IOCG-style system at ~400m depth
- Single ~1,000m diamond drill hole guided by recent geophysical surveys
- JOGMEC funding $7.5 million earn-in, holding 51% interest after Stage 2
- Project covers 4,524 km² in South Australia’s Gawler Craton
- Drilling program expected to complete by mid-March 2026
Exploration Resumes at South Gawler Ranges
Terramin Australia Limited (ASX: TZN) has announced the recommencement of exploration drilling at its South Gawler Ranges Project (SGRP) in South Australia. This marks a significant step forward in the company’s efforts to unlock the potential of this underexplored region, which is believed to host Iron Oxide Copper Gold (IOCG) mineralisation.
The current drilling campaign involves a single diamond drill hole approximately 1,000 metres deep, targeting a dense, non-magnetic body situated around 400 metres below surface. This target was refined through recent transient electromagnetic (TEM) surveys and geophysical modelling completed in late 2025 and early 2026. The drilling is expected to be completed by mid-March 2026.
Strategic Partnership with JOGMEC
The exploration activities are being conducted under a staged earn-in agreement with the Japan Organization for Metals and Energy Security (JOGMEC), which has committed up to A$7.5 million in funding. JOGMEC has already earned a 51% interest in the project after funding over A$3.5 million through the first two stages of the earn-in.
Terramin retains operatorship during the initial stages, ensuring that the company maintains control over exploration strategy and execution. The partnership with JOGMEC brings not only capital but also technical expertise, which is crucial for advancing exploration in this geologically complex area.
The Promise of the Gawler Craton
The SGRP spans approximately 4,524 square kilometres and lies within the Gawler Craton, a region known for hosting world-class IOCG deposits such as Olympic Dam. The project area is characterised by hematite-rich hydrothermal breccias and multiple geophysical anomalies that suggest the presence of significant mineralisation.
Despite its potential, the SGRP remains relatively underexplored compared to neighbouring projects. The current drilling targets a conceptual mineralised body estimated at around 267 million tonnes with approximately 19.6% hematite content, though no formal Mineral Resource has yet been defined. The results of this drilling campaign will be critical in determining whether the target can be upgraded to a defined resource.
Looking Ahead
As the drilling progresses, investors and analysts will be watching closely for assay results and any indications of economically viable mineralisation. Success here could significantly enhance Terramin’s asset base and attract further investment. However, the conceptual nature of the target means there remains uncertainty, and the company will need to demonstrate tangible results to justify continued exploration expenditure.
Overall, the resumption of drilling at the South Gawler Ranges Project under the JOGMEC earn-in agreement represents a pivotal moment for Terramin as it seeks to capitalise on the region’s mineral potential.
Bottom Line?
Terramin’s drilling progress at South Gawler will be a key market catalyst as the company seeks to convert promising geophysical targets into defined resources.
Questions in the middle?
- Will the current drilling confirm the presence of economically viable IOCG mineralisation?
- How will JOGMEC’s involvement influence the pace and scale of future exploration?
- What are the next steps if the drilling results are inconclusive or negative?
