Join our daily newsletter At The Bell to receive exclusive market insights
- Terrain Minerals (TMX) identifies a 600-metre-long gold anomaly at its Monza gold prospect as part of an ongoing induced polarisation (IP) geophysical survey over its Smokebush project in Western Australia
- The company previously has mapped at least four north-to-northeast trending shear zones within the Smokebush project area, including Hurley, Paradise City, Monza, and a yet-to-be-named prospect
- Over the past six months, these four shear zones were the focus of the company’s accelerated exploration program
- The company remains committed to the goal of making a company-defining discovery in 2023
- TMX shares last traded at 0.6 cents at 2:30 pm AEST
Terrain Minerals (TMX) has identified a 600-metre-long anomaly at its Monza gold prospect as part of an ongoing induced polarisation (IP) geophysical survey over its Smokebush project in Western Australia.
Following geophysical interpretation and on-ground geological field mapping, the company previously reported it mapped at least four north to northeast-trending shear zones within the Smokebush project area – Hurley, Paradise City, Monza, and a yet-to-be-named prospect.
These four shear zones were the focus of the company’s accelerated exploration program over the past six months, with surveying completed on three, and the fourth zone to be finalised within the coming fortnight.
Geophysical modelling of the Hurley, Paradise City and Monza IP anomalies was recently completed and the company has since designed a drill program to test each.
The company’s review of the historical drilling in the Smokebush project area revealed that neither IP anomaly near Hurley nor Paradise City has been drill tested to date.
The same review over the Monza gold prospect showed that its 2021 drill program may have skimmed the outermost halo of the sulphide zone, missing the main mineralisation zone.
Terrain said it’s encouraged by the “highly positive” IP results returned from Smokebush to date, with the company already starting the process of establishing access tracks and the construction of drill pads, ahead of a reverse circulation (RC) drilling program kicking off in late June.
The company said it remains committed to the goal of making a company-defining discovery in 2023.
TMX last traded at 0.6 cents at 2:30 pm AEST.
