Lort River Project 100% owned - Nickel Project
Nickel exploration project Covering 550km2 of highly prospective exploration acreage located 50km North-west of the town of Esperance WA.
The tenure is located in the Southern part of the Albany Fraser belt, along the interpreted strike of WA IGO’s Nova nickel-copper mine. Terrains recent airborne EM (Vtem) survey has been interpreted by Leading Consultants Southern Geophysics have identified the Lort River “EYE” feature as a mafic intrusive geological feature, only the Third found in the Albany Fraser belt to date. The Vtem survey has identified Five High-Priority Bedrock Sulphide Conductors which may indicate the potential for highly valuable sulphide minerals. Two of the Conductors excitingly siting inside of Terrain’s “EYE”, feature, similar location to the Nova sulphide ore bodies.
Terrain’s “EYE” is located ~300km south of the Nova, and the Albany Fraser belt is comparable to Thompson Nickel Belt (Canada), which typically see repetition ore bodied every 300 to 600 km. Exploration is currently being fast-tracked, planning now underway for a ground EM survey, soils sampling with the goal of drill testing all five conductors in the fourth quarter 2024.
Diagram 1: Terrain Minerals’ 100% owned Lort River Project is located 50 kilometres northwest of Esperance, and within the highly prospective Albany-Fraser Belt, being home to IGO’s Nova-Bollinger Nickel-Copper Mine and AngloGold Ashanti’s Tropicana Gold Mine.
Diagram 2: Host geology of the Nova-Bollinger nickel-copper orebody appears as a very distinctive “eye” in the aeromagnetic data (left image). Terrain Minerals has identified a similar “eye” feature within its granted tenement E 63/2447, which forms parts of the Company’s Lort River Project (right image). Please note that the difference between appearance (smoothness) of the Nova eye feature and that of the Lort River eye feature may be easily explained due to the difference in the flight line spacing of the aeromagnetic surveys from which these images were generated. Specifically, the Terrain Minerals “eye” feature appears less smooth in this image as the image is based on wider spaced flight lines compared to Sirius Resources’ Nova “eye” feature.
Source: Sirius Resources’ ASX announcement dated 4 October 2012.
Diagram 3: Location of the five high-priority late-time bedrock conductors overlain on the (reduced to pole or RTP) aeromagnetic image acquired over tenement E 63/2447 by Terrain Minerals in May 2024. The Lort River “eye” feature is clearly visible within in the northwestern area. Notably, conductors LRT-01 and LRT-02 occur on the western edge of the “eye” feature at Lort River being in a similar position to the late-time electromagnetic conductors associated with Nova nickel-copper ore body.
For additional Information Refer to ASX releases.