Terrain Minerals Ltd (ASX:TMX, OTC:TMXAF, FRA:T4Y) earlier this week outlined significant progress at its Smokebush Gold & Silver Project in Western Australia, with executive director Justin Virgin detailing how recent drilling success is advancing the company toward a maiden JORC Mineral Resource Estimate targeted for mid-2026.
Speaking with Proactive, Virgin said the company had now completed more than 100 drill holes at the Lightning Prospect, supported by induced polarisation surveys that had materially improved Terrain Minerals’ understanding of the geology. He noted that the IP work had resulted in a revised geological model and helped identify blind mineralisation beneath cover.
Interview highlights
- Over 100 drill holes completed at the Lightning Prospect
- IP surveys have delivered a new geological model and identified blind targets
- Strong gold and silver intersections at shallow depths
- Diamond drilling underway to support resource calculations
- Maiden JORC Mineral Resource Estimate targeted for mid-2026
- Strategic WA location with multiple operating mills nearby
- Ongoing drilling planned across additional Smokebush targets
Proactive: Welcome back to Proactive Investors. I’m your host, Kerry Stevenson. Today I’m joined by Justin Virgin, executive director of Terrain Minerals Ltd. Justin, good to see you.
Justin Virgin: Thanks, Kerry. Good to see you again and thanks for having us.
Proactive: You’ve been very active at Smokebush, particularly at the Lightning Prospect. What’s been happening?
JV: We’ve drilled more than 100 holes now and had some pretty exciting grades over the last 12 months. The IP work has really turned this project around and given us a whole new geological model.
Proactive: Can you talk us through some of the results?
JV: We’ve seen intersections like 11 metres at 6 grams per tonne gold with 43.5 grams per tonne silver from about 50 metres depth, along with other results like 23 metres at 2.7 grams and wider mineralised zones. The list just keeps going.
Proactive: What’s the focus of the current program?
JV: We’re finishing a 21-hole RC program and have just rolled out a diamond rig. We’re doing four diamond holes to get density data for general calculations, which feeds directly into our maiden JORC resource.
Proactive: When are you targeting that resource?
JV: Mid-2026 is the target. This is about delivering a solid starting point so we can keep drilling throughout the year.
Proactive: How about infrastructure around Smokebush?
JV: We’re about four and a half hours north of Perth, inland from Geraldton, and surrounded by several operating mills. That gives us optionality if we choose to go down that route, although the goal is to build this into a standalone project.
Proactive: When should investors expect news flow?
JV: Lightning results should start coming through from late February into early March, with further results to follow from Wildflower and other targets.