Terrain Minerals considering adding tungsten testing in RC drilling program at Smokebush gold and silver project

• 86 holes for a total of 10,905m RC drilling
• Resource infill drilling 54 holes for 5,735m
• Exploration focus on 32 holes for 5,170m
• Around 12 holes designed to target newly identified tungsten mineralisation

Terrain Minerals (ASX: TMX) is considering testing for tungsten as well as gold and silver in its October 2026 drilling campaign at the Smokebush project in Western Australia.

Terrain’s geological team is now on site preparing for the arrival of the drill rig and crew, expected later this week. All site preparation works were completed earlier this month, with infrastructure in place to support the commencement of drilling.

The 10,905m, 86-hole RC drilling campaign will be the largest drilling program undertaken by Terrain to date,

It is aimed at expanding the current Lightning Inferred mineral resource estimate of 677,000 tonnes at 2.5 g/t gold for 54,000 ounces of gold and 156,500 ounces of silver announced in late July 2026.

Approximately 12 holes are being designed to target newly identified mineralisation, these holes could be added to this program, subject to approvals.

Drilling has a particular focus on expanding the open-pit component of that resource to support an upgrade in resource classification and test strike extensions.

Of  the recent resource inventory, 157,000 tonnes at 3.5 g/t gold for 17,500 ounces of gold sits within the optimised open-pit shell, with the balance reported under underground mining assumptions.

The program is also esting a series of exploration targets including the seven new priority IP targets which are interpreted to represent potential repetitions of the Lightning mineralised system within the same granted mining lease M59/796.

Fifty-four of the 86 planned holes, for 5,735 metres, are directed across the Lightning project, targeting both the Lightning and Monza structures. These holes are designed to infill the existing drill pattern at a spacing that supports an upgrade in resource classification and to drill the near-surface position of the deposit so that mineralisation currently sitting outside the optimised shell may be brought inside a larger pit. Mineralisation at Lightning starts at surface and remains open along strike and at depth, and the deposit is under-drilled to the north of the main body.

A further eight holes for 960 metres test the northern strike extension of Lightning. These are classified as exploration holes because they sit outside the current resource envelope.

“This drilling program is designed to support an upgrade of parts of the Lightning mineral resource from the Inferred to Indicated category, which would enable initial mining studies to be undertaken. This aligns with Terrain’s stated strategy of working towards a potential small-scale toll milling operation, to fund future exploration and development across the broader project,” executive director, Justin Virgin, said.

“Our confidence in executing this program has been built on a strong geological dataset and the grassroots project knowledge gained through six years of exploration at Smokebush and the Lightning deposit. This knowledge continues to build our confidence as we advance our other targets, which continue to return encouraging results, further strengthening our belief that Smokebush has the potential to develop into a multi-deposit gold camp.

“This program focuses all our efforts on the granted mining lease, with infill and extension drilling at the Lightning deposit an obvious priority. However, the other new targets represent potential new discovery opportunities. Results continue to support our theory of the area housing multiple, parallel, stacked mineralised structures across the mining lease.

“Our other targets remain prospective and offer further upside, with the broader tenement package having the potential to host multiple deposits. Hurley, Paradise City and the Wildflower area, which hosts multiple targets, remain key priorities for future exploration.”

TMX was steady at 0.3¢ with a Mkt cap of $11.13M.

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