Terrain Minerals Ltd (ASX:TMX, OTC:TMXAF, FRA:T4Y) has started a follow-up air-core drilling campaign at its 100%-owned Lort River Project near Esperance in Western Australia, as it looks to build on earlier high-grade rare earth results and test the scale of a newly defined clay-hosted target.
Terrain Minerals’ 100% owned Lort River Project located in the Albany Fraser belt and is located 50 kilometres northwest of Esperance.
The step-out program is around 1,500 metres and is designed to follow up on drilling reported in March 2025. It will target a shallow regolith clay basin outlined from Terrain’s airborne electromagnetic (AEM/VTEM) survey data. The company considers the basin highly prospective for rare earth element (REE) mineralisation.
The interpreted basin exceeds 12 kilometres in length and 5.5 kilometres in width, covering about 66 square kilometres, and coincides with REE-bearing regolith horizons identified in earlier drilling.
“This step out program is designed to test priority zones near the high-grade intersection, which sits within the 66 km² regolith zone identified via airborne electromagnetics. Multiple areas will be tested as we assess the broader zone for scale and consistency of grade. Initially, samples will be taken in three-metre composite samples and submitted for testing," Terrain Minerals executive director Justin Virgin said.
“March is the last month in 2026 that the broad acre paddocks can be accessed prior to cropping. With Terrain’s Smokebush gold–silver project remaining the company’s focus, the board decided to take advantage of this window following the completion of the gold/silver RC and diamond drilling campaigns at Lightning & Wildflower targets.
“Early data interpretation has confirmed a broad conductive regolith clay basin at our Lort River Project that correlates with potential REE enrichment. These results, combined with our previous geochemical work, reinforce the potential for the Lort River Project to represent a unique emerging critical minerals discovery opportunity within the Esperance region.
“The apparent spatial correlation between AEM conductivity zones and prior assay data gives us confidence in targeting these drill holes more effectively.”
Strong historical results
Previous drilling within the basin area returned the following results from hole LTRC03:
- 8 metres at 4,037 ppm TREO from 23 metres including 1 metre at 9,842 ppm TREO from 25 metres and 1 metre at 9,022 ppm TREO from 27 metres
The company also highlighted magnet rare earth element results from the same hole:
- 1 metre at 2,362 ppm neodymium, 647 ppm praseodymium and 291 ppm dysprosium from 25 metres
- 1 metre at 1,645 ppm neodymium, 437 ppm praseodymium and 215 ppm dysprosium from 27 metres
The target lies along the edge of the second mafic intrusive unit within the Albany-Fraser Belt and supports its strategy of advancing Lort River as a potential clay-hosted REE discovery.
The new drilling program is expected to help determine the extent of mineralisation within the basin and refine the company’s understanding of the project’s broader rare earth potential.