Latest Smokebush News

Terrain Minerals has completed a $1.65 million placement and entitlement offer, but still has $856,872 of shortfall securities available to place. The funds are supporting an 86-hole Lightning drilling campaign aimed at upgrading the project’s mineral resource in Q2 2027.

Terrain Minerals has started its largest-ever Smokebush drilling campaign after establishing a 54,000-ounce inferred gold resource at Lightning, while newly identified tungsten adds a second critical-minerals angle. The exploration momentum comes with a clear funding constraint: quarter-end cash covered only 1.16 quarters of reported outgoings, before the company placed its remaining rights issue shortfall.

Terrain Minerals has begun preparations for its largest-ever drilling program, with 86 reverse circulation holes planned across the Smokebush project in Western Australia. The 10,905-metre campaign will test both the existing Lightning resource and seven new exploration targets, but no new exploration results have yet been reported.

Terrain Minerals has identified high-grade tungsten across six Smokebush prospects after re-assaying previously capped samples, with the strongest result reaching 0.75% WO₃. The company plans up to 12 tungsten-focused RC holes, although the mineralisation remains early-stage and only a third of the available samples has been tested.

Terrain Minerals has lodged a prospectus for a $1.6 million entitlement offer, with the proceeds earmarked mainly for drilling at Smokebush and Lightning. The raise comes with a substantial dilution warning and a going-concern qualification if funding is not secured.

Terrain Minerals has posted a 54,000-ounce inferred gold resource at Lightning, alongside stronger exploration spending and a reduced FY2026 loss. The next test is whether further drilling, metallurgy and fresh capital can turn the starter resource into something more definitive.

Terrain Minerals has secured a $1 million commitment from Gandel Metals at a 33.33% premium to market, anchoring a broader $2.513 million placement and rights issue. The funds will support the company’s largest planned RC drilling campaign at the Lightning gold and silver project.

Terrain Minerals has reported metallurgical leaching results from its Larin’s Lane Prospect showing rare-earth element recoveries up to 99% using methanesulphonic acid, alongside promising scandium and gallium extraction, setting a technical foundation for resource development.

Terrain Minerals’ 2026 IP survey at Smokebush has pinpointed seven top-tier gold drill targets, including the strongest chargeability anomaly near its Lightning deposit, setting the stage for a 2027 drilling campaign.

Terrain Minerals has released a maiden inferred mineral resource estimate at its Lightning Gold Project alongside advancing multiple critical and precious metals projects across Western Australia and Queensland.

Terrain Minerals has delivered a maiden Inferred Mineral Resource Estimate of 54,000 ounces of gold and 156,500 ounces of silver at its Lightning Gold Project in Western Australia, setting a foundation for resource expansion and development.

Terrain Minerals (ASX: TMX) delivered a strong June quarter update, confirming high-grade gold and silver mineralisation at its Smokebush flagship, progressing a maiden resource estimate at Lightning, and reporting broad rare earth and lithium anomalies at Lort River and Carlindie projects.