- Strongest chargeability anomaly identified
- Sits along strike of Lightning mineral resource estimate
- Previously untested north-south structure defined
- Two high priority and two moderate to high-priority holes to test
Terrain Minerals (ASX: TMX) has identified seven new high-priority IP drill targets across its Smokebush project, located 350 kilometres north of Perth in WA.
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The new targets were unveiled through interpretation and inversion modelling of the 2026 dipole-dipole induced polarisation (IP) survey across of project.
“These results are really exciting and exactly what the exploration team was expecting. We now have continuous IP coverage across our granted Mining Lease and an exciting list of priority targets ready for drilling,” executive director, Justin Virgin, said.
“What really stands out is the anomaly north of the Monza structure. It’s the strongest response we identified in the program and sits on the same structure that delivered our maiden mineral resource at Lightning. We’ve also identified a genuinely new structure to the west that has never been drilled.”
“Just as importantly, this work tells us where not to spend money. That discipline is critical as we work through the target inventory, focusing our exploration spend on the areas with the strongest potential.”
Terrain has selected seven IP targets as priority targets, with RC holes designed to test these areas.
The priority one targets are located within granted Mining Leases M59/0796, with the company focused on growing its existing gold and silver resource inventory across the Lightning project and broader mining lease area.
Five additional priority two targets have been identified across the survey area; two at Lightning, one at Paradise City, one at Hurley, and one at Wildflower. These targets will be evaluated and scheduled for testing as part of future exploration programs.
Mr Virgin told shareholders the IP survey results continue to highlight the area’s prospectivity and Terrain’s objective of identifying repetitions of the Lightning discovery.
“Following the maiden “starter” Lightning mineral resource estimate (MRE) announced in late July 2026, this new target inventory will form the exploration portion of the next RC drilling campaign,” he said.
“The main purpose of that campaign was to capture mineralisation that currently sits outside the MRE, together with extensions to it. Terrain is finalising drilling contractor arrangements and will advise the market of the drilling timetable closer to the commencement date.
TMX is steady at 0.3¢ with a Mkt cap of $11.13M prior to markets opening.
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