Ownership: 100%
Terrain Minerals Limited
Location: 350 kilometres north of Perth, within the Murchison Gold Province of Western Australia. The project is contained within contiguous Licenses enclosing a total area of approximately ~170 square kilometres. Additional areas have also been pegged and granted and are 100% owned. The tenements can be accessed via the unsealed Perenjori - Warriedar Road, and thence via extensive historical exploration grid lines, station tracks and fences lines.
Background: Terrain’s
Smokebush Gold Project is positioned within the same geological corridor that
hosts the historic Golden Dragon and Minjar gold mining operations.
Incorporates the following sub-projects:
Gold Targets: Lightning, Wildflower and area, including Cota, W3, and T16 targets.
Gallium/REE Project: Larin’s
Lane, Gallium oxide (sand/regolith) Project – Refer to other project tab.
Lightning: Unveiling Exceptional Gold and Silver Potential
Maiden Mineral
Resource Sets Growth Platform
Terrain delivered a maiden Inferred Mineral Resource Estimate
for Lightning of 677,000 tonnes at 2.5g/t gold for 54,000 ounces (see ASX:27/07/2026), contained within an optimised pit shell with economic assumptions
applied for underground mining.
Mineralisation starts from surface and remains
open along strike and at depth. This Starter MRE represents an initial
foundation rather than the full extent of Lightning's mineral endowment, with
numerous look-alike gold targets across the broader project area to be advanced
toward a substantial gold resource inventory.
Lightning Highlights: (see ASX Announcements: 27/07/2026, 31/03/2025, 29/09/2025 & 13/10/2025)
- Mineralisation defined over an 850m strike length, dipping
steeply east, from 75m to 175m below surface, and remains open along strike and
at depth.
- 11 metres @ 6.03 g/t Gold + 43.5 g/t silver from 75 metres
down hole (SBRC063).
- 22 metres @ 2.71 g/t Gold, + 21m @ 15.79 g/t Silver from 105
metres down hole (SBRC074).
- 17 metres @ 3.43 g/t Gold + 17.88 g/t Silver from 147 metres
down hole (SBRC080).
- 13 metres @ 8.13 g/t Gold from 122 metres down hole
(SBRC080).
- Mining Lease M59/0796 granted, covering the Lightning
Prospect (see ASX: 02/12/2025).
Future Exploration Focus (See ASX 27/07/2007):
- Infill and expansion drilling commencing September 2026 to
upgrade the Inferred MRE to Indicated and capture mineralisation currently
sitting outside the resource.
- First pass metallurgical test work results due Q3 2026.
- Evaluating the silver potential of the Monza structure,
where only 28% of historical drill holes were tested for multi-elements
including silver.
- Continued testing of new priority targets and numerous
look-alike gold targets identified across the broader project area.
Wildflower Gold: Unlocking Promising Potential
Exciting Targets Identified: Cota, W3, T16, and Wildflower, all concealed under ~30m of soil cover.
- Successful Drilling Results (see ASX: 12/11/2024):
- 9m @ 1.17 g/t gold from 30m (including 3m @ 2.61 g/t gold from 33m) -
(24WFAC062).
- Broad zones of lower-grade supergene gold anomalies.
- IP Survey identified 3 new targets (see ASX: 10/11/2025):
- Large targets under elevated gold in soil anomalies and near recent air core drilling results.
- RC drill testing planned January 2026.
- Future Exploration Focus:
- Targeting high-priority NW-trending structures that may replicate the shear zones of the Rothsay Deposit.
- These structures align with historic gold-in-soil anomalies and recent drill findings.
Diagram 1: Plan View of Lightning Inferred Mineral Resource
Estimation.
Diagram 2: Lightning Inferred Mineral Resource Estimation
long section.
Diagram 3: Lightning transform
cross section - SBRC095 to SBRC105 (+/-12.5m).
Diagram 4: Location of Terrain’s Lightning Gold Prospect in the Smokebush Project area, within the Murchison gold region of Western Australia.