- Terrain Minerals (TMX) has acquired a tenement located smack bang in the middle of its Wild-Viper Gold Project in Western Australia
- The tenement, known as Wilson Patch, has been held in private hands for decades and, as such, is unexplored
- However, rock chip sampling in neighbouring areas returned elevated levels of gold, indicating the potential for gold extensions to the Great Western deposit into this area
- Terrain will now apply for drilling permits for Wilson Patch and intends to include it in upcoming drilling programs
- While Terrain has paid no upfront cost for the tenement, it will pay $1.92 per tonne of ore milled originating from the area
- Company shares rose 20 per cent today to close at 0.6 cents per share
Terrain Minerals (TMX) has secured “the missing piece of the puzzle” of its Wild-Viper Gold Project near Leonora in Western Australia.
The minerals explorer has acquired the Wilson Patch tenement which lies in the middle of its exploration tenement package.
While Wilson Patch is unexplored, Terrain believes it could contain possible extensions to the Great Western Gold deposit.
Recent rock chip sampling between Great Western, which is owned by Red 5, and Wilson’s Patch returned elevated levels of gold, including one sample of 9.92 grams per tonne of gold.
Additionally, Terrain has identified a possible demagnetised structure running over the boundaries of Wilson Patch and Wild-Viper.
Terrain will now apply for drilling permits for the area and intends to include it in upcoming drilling programs already scheduled for the project.
While Terrain has paid no upfront cost for the tenement, it will pay $1.92 per tonne of ore milled originating from Wilson Patch.
Company shares rose 20 per cent today to close at 0.6 cents per share.