Terrain Minerals Completes Major Gold Drilling at Smokebush Project

Terrain Minerals Completes Major Gold Drilling Program as Results Loom

Terrain Minerals (ASX:TMX) has completed a significant drilling campaign at its flagship Smokebush Gold Project, with investors now eagerly awaiting results expected in September 2025. The company announced it has finished a 4,995-meter RC drilling program consisting of 22 holes, representing a major milestone in its exploration strategy.

Gold Exploration Breakthrough Using Advanced Technology

The recently completed drilling program follows Terrain's highly successful January 2025 drilling campaign that delivered impressive results at the Lightning and Monza parallel structures within the Smokebush Project. The company has effectively deployed an induced polarisation (IP) model that appears to be unlocking significant potential across multiple structures.

Previous drilling at Lightning produced standout intersections including:

• 11 metres @ 6.03 g/t gold + 43.5 g/t silver from 75 metres
• 3 metres @ 6.12 g/t gold from 26 metres
• 5 metres @ 3.77 g/t gold from 180 metres

The latest drilling program targeted known extensions along strike and down dip, with Terrain already planning its next campaign for late September 2025.

Understanding Induced Polarisation (IP) Technology in Gold Exploration

Induced Polarisation is a geophysical imaging technique that detects the electrical chargeability of subsurface materials. In gold exploration, IP surveys help identify disseminated sulphide minerals that often associate with gold mineralisation.

The technology works by measuring how the ground responds to induced electrical currents. Sulphide minerals, which frequently host gold deposits, have distinctive electrical properties that create measurable anomalies. These anomalies appear as zones of high chargeability on IP survey results.

Terrain's success with IP at Smokebush demonstrates how modern geophysical methods can identify previously overlooked mineralisation. The company's IP survey revealed a 600-metre long anomaly at Lightning that previous drilling campaigns had missed by approximately 50 metres. This technological approach has proven particularly effective in areas with parallel structures where traditional exploration methods might fail to detect all potential mineralised zones.

Diversified Commodity Portfolio

What makes Terrain particularly interesting for investors is its exposure to several high-demand commodities beyond gold:

Gallium: A Critical Technology Metal

At Larin's Lane within the Smokebush Project, Terrain has established a JORC-compliant exploration target for gallium, a metal classified as critical by the USA, UK, Japan, EU, and Australia. The company notes that:

• 98% of global gallium supply currently comes from China
• The metal is essential for semiconductors, computer chips, electronic circuitry, and defense applications
• Metallurgical studies are currently underway through a partnership with the Minerals Research Institute of WA

The exploration target covers just 5% of the 27km² target area, suggesting significant expansion potential. Previous drilling returned impressive gallium oxide intersections up to 64 meters wide with grades reaching 53.74 g/t Ga₂O₃.

"Our gallium discovery at Larin's Lane represents a potential strategic asset as nations seek to secure supply chains for critical minerals essential to semiconductor manufacturing and defense applications," stated Terrain management in their latest presentation.

Copper-Gold Assets in Queensland

Terrain's Biloela Project in Queensland comprises 2,462km² of now-granted exploration permits located 400km northwest of Brisbane. The company has identified seven priority drill targets across the tenement package, which hosts several historic copper-gold mines.

An independent review has confirmed the presence of volcanogenic massive sulphide (VMS), porphyry copper-gold, and epithermal gold mineral systems within the project area, highlighting its multi-commodity potential.

Additional Growth Projects

Terrain maintains a pipeline of exploration assets including:

1. The Carlindie Project (application pending) targeting lithium and gold in the Pilbara region of Western Australia
2. The Lort River Project with potential for rare earth elements and gallium

Recent drilling at Lort River has identified what may be a new high-grade REE clay regolith system, with significant intersections including:

• 8 metres @ 4,049ppm TREO from 23 metres, including
  • 1 metre @ 9,840ppm (0.98%) TREO from 25 metres
  • 1 metre @ 9,026ppm (0.90%) TREO from 27 metres

Why This Matters for Investors

Terrain Minerals represents an opportunity to gain exposure to both traditional precious metals and critical minerals essential for the energy transition. The company's strategic focus on tier-one jurisdictions in Australia minimises geopolitical risk while providing access to established mining infrastructure.

The pending Terrain Minerals gold drilling results could serve as a near-term catalyst, while the gallium exploration adds a differentiated exposure to a metal increasingly crucial for semiconductor manufacturing and AI development.

With approximately $1.1 million in cash following a recent capital raising of $1.58 million, Terrain appears positioned to advance its diverse portfolio of projects through critical exploration milestones in the coming quarters.

The company's next steps include receiving drill results from Smokebush (September 2025), completing metallurgical studies on its gallium resource, conducting IP surveys at Wildflower, and commencing desktop reviews at the newly-granted Biloela Project in Queensland.

For investors seeking exposure to both traditional precious metals and future-facing critical minerals, Terrain's multi-commodity strategy and active exploration program warrant close attention in the coming months.

Ready to Capitalise on Terrain's Multi-Commodity Opportunity?

Discover how Terrain Minerals' strategic exploration across gold, gallium and other critical minerals could deliver significant shareholder value in the coming months. With pending results from their major Smokebush drilling program and advancing gallium studies, now is the time to examine this diversified ASX opportunity. For comprehensive investor information and to stay updated on Terrain's exploration milestones, visit www.terrainminerals.com.au today.