Terra Critical Minerals Clears Land Access Hurdle at Castle Rag Ahead of Silver Drilling
Key Takeaways
- Terra has full land-access approval across the entire Castle Rag silver project in NSW, clearing the first of three steps on the path to drilling.
- Drilling is not yet approved or scheduled, because environmental, heritage and statutory requirements remain outstanding for the proposed three-hole RC program.
- 14 of 23 historical surface samples from 2022 returned more than 100 g/t silver, topping out at 941 g/t Ag with 18.9% Pb.
- The Castle Rag Silver Mine produced 48t of silver and 692t of lead from 4,000t of ore, far above the 5.5t Ag from the comparable Webbs deposit.
- Three RC holes aim to test the Exploration Target to JORC Resource standard, with Glen Eden following a similar path towards a maiden Mineral Resource.
Castle Rag land access approved, drilling preparations advance
Terra Critical Minerals (ASX:T92) has received full land-access approval for the entire Castle Rag silver project in NSW, advancing preparations for drilling. The announcement is dated 12 October 2026.
Preparations are progressing for a proposed three-hole reverse circulation (RC) drilling program at Castle Rag. It remains subject to the remaining environmental, heritage and statutory requirements, so drilling has not yet been approved or scheduled.
Terra is also progressing those requirements ahead of a planned drilling program at Glen Eden. That program is designed to test and further define the existing Exploration Target and support evaluation towards a maiden Mineral Resource.
Glen Eden land access followed a similar sequence, with the landholder arrangement secured first and the remaining statutory approvals still needed before any drill rig can mobilise to test the Exploration Target.
Andrew Vigar, Chairman
“Securing land access is an important step towards drilling at Castle Rag. The historical surface sampling shows why this project warrants follow-up work…”
For you as an investor, access approval is a de-risking milestone. It moves Castle Rag a step closer from desktop work to drill-ready, though the remaining requirements still have to be met.
Metals X approach to First Tin
On 9 October, Metals X Limited (ASX:MLX) approached Terra’s next door neighbour in relation to a possible cash offer for the entire issued capital of First Tin (LSE: 1SN), which the announcement says brings the land position into focus. No outcome has been announced.
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Why land access matters for explorers
Before an explorer can pick up a hammer or park a drill rig, it needs permission to be on the land. Under the NSW Mining Act 1992, explorers generally need a written land access arrangement with landholders before prospecting.
For areas with native title, the Right to Negotiate process (and often a section 31 deed with ministerial approval) is commonly required. The announcement notes that ASX announcements typically highlight execution of such an agreement, plus any necessary government or ministerial approval, as a key de-risking milestone that unlocks field work.
The path generally runs in three steps:
- A land access arrangement is secured.
- Remaining statutory approvals are completed.
- Drilling begins.
That is why approval across the entire project matters. Castle Rag has now cleared the first step, but the second still sits ahead of it.
High-grade silver supports the drilling case
14 of 23 historical surface samples collected in 2022 returned more than 100 g/t Ag (grams per tonne of silver). These results are not new. They were first reported in September 2025, and the earlier intercepts were announced on 19 March 2025.
Highlights from the historical sampling include:
- Silver up to 941 g/t Ag, lead of 18.9% Pb and antimony of 266 g/t Sb, each within sample R00535 at the Castle Rag Mine.
- Copper up to 2.21% Cu within sample R00537 at Watt & Walkers Prospect.
Previously announced high-grade silver intercepts (19 March 2025) comprise:
- 1,670 g/t Ag
- 445 g/t Ag, 1.12% Cu
- 210 g/t Ag, 1.19% Cu, 1.19% Pb, 0.41% Zn
- 120 g/t Ag, 5.25% Pb, 0.6% Zn, 0.418% Sn
The table below shows selected samples from the source’s rock chip results.
| Sample | Location | Ag (ppm) | Pb (%) | Cu (%) |
|---|---|---|---|---|
| R00535 | Castle Rag samples | 941 | 18.90% | 0.04% |
| R00536 | Castle Rag samples | 934 | 1.14% | 0.03% |
| R00537 | Matt & Walker’s Deposit | 723 | 1.04% | 2.21% |
| R00538 | Castle Rag samples | 453 | 2.63% | 0.07% |
Silver is reported in ppm in the source, which is equivalent to g/t. The source heads this group “Matt & Walker’s Deposit” in the table, while the text refers to the Watt & Walkers Prospect.
The Castle Rag Silver Mine is quoted as having 4,000 t of historic production for 48t Ag and 692t Pb. It is described as being similar to the Webbs Silver Deposit in NSW, although with a much larger historical production (Webbs produced 5.5t Ag).
What this tells you is that the grades are encouraging, but they are historical surface samples, not a Mineral Resource. Drilling is the step that tests extent and continuity.
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Next steps for Terra’s New England portfolio
Terra is progressing the remaining environmental, heritage and statutory requirements. The announcement states Terra will drill the Exploration Target at Castle Rag with 3 RC drill holes to meet JORC Resource standard as soon as site access and any remaining statutory approvals have been completed.
Castle Rag forms part of Terra’s portfolio of silver, tungsten, tin, molybdenum and bismuth projects in the New England region of NSW. No drilling timeline is given in the announcement, so drilling is the next catalyst to watch, and the timing depends on those approvals.
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