Terrain Minerals Ltd (ASX:TMX, OTC:TMXAF) executive director Justin Virgin talked with Proactive about new developments at the company’s Lort River Project in Western Australia.
Virgin highlighted that Terrain has received encouraging results from shallow drilling in the regolith zone, which may indicate a significant rare earth element (REE) system within a 66 square kilometre basin. The target area lies within the Albany Fraser Range and is hosted on a mafic intrusive unit – a setting Virgin described as "very different geologically" compared to typical REE deposits.
"This is pretty exciting for a secondary project," said Virgin, referring to Lort River.
The company has also released its quarterly update, which included high-grade gold and silver results from drilling at its flagship Smokebush Project.
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