Terrain Minerals has reported high-grade gold assays alongside silver hits from its Lightning Prospect at the Smokebush Project in WA’s Murchison, reinforcing a strong gold-silver correlation. One significant intercept of 22m yielded 2.87g/t gold from 105m, including 21m at 15.79g/t silver from 105m, 1m at 70.59g/t silver from 108m and 1m at 60g/t silver from 124m. Follow-up drilling is proposed to further develop the dual-commodity potential.
Terrain Minerals has reported high-grade gold assays alongside sit hits from its Lightning Prospect at the Smokebush project in Western Australia’s Murchison region, reinforcing a strong gold-silver correlation.
The first seven of 22 reverse circulation (RC) holes from the company’s recent drilling program at Lightning returned a significant example of the correlation, intercepting 22m assaying yielded 2.87g/t gold from 105m, including 21m at 15.79g/t silver from 105m, 1m at 70.59g/t silver from 108m and 1m at 60g/t silver from 124m, alongside another 5m hit running 10.83g/t silver from 129m.
The gold-silver association is confirmed by a second hole which delivered 17m at 3.43g/t gold and 17.88g/t silver from 147m, including 2m at 17.7g/t gold and a 4m hit at 48.80g/t silver from 151m.
A third hole also came up with the goods, handing Terrain 13m going 8.13g/t gold from 122m, including 2m assaying 48.22g/t gold and 2m at 12.79g/t silver from 128m, with an additional 1m running at 5.16g/t silver from 159m.
A fourth hole delivered 11m at 6.03g/t gold and 43.5g/t silver from 75 meters
Terrain’s multi-commodity Smokebush project lies just 10km south of Vault Minerals’ Rothsay gold mine in the prolific Yalgoo-Singleton Greenstone Belt.
The belt extends for more than 190km north-south and hosts multiple operations that include Capricorn Metals’ developing Mt Gibson gold project and 29Metals’ long-established giant Golden Grove operation.
Terrain’s Lightning prospect emerged as a key target in the northern part of the Smokebush tenement area in May 2023 after a dipole-dipole induced polarisation (IP) geophysical survey pinpointed a chargeability anomaly west of the Monza prospect.
Terrain Minerals executive director Justin Virgin said: “These results continue to demonstrate the strong correlation between gold and silver at the Lightning Prospect and across the broader Smokebush Project With silver assays now supporting the gold results, Terrain has identified a valuable co-product opportunity that could enhance project economics.”
Initial reverse circulation drilling in November 2023 confirmed Lightning’s gold potential when it nailed 2m at 6.22g/t gold from 82m producing a solid result from what was merely an early scout hole.
Subsequent RC drilling in February 2025 resulted in at least two holes that further upgraded the prospect with broader mineralised zones and high-grade gold-silver hits, setting the stage for the latest campaign.
The dual gold-silver commodity potential enhances Smokebush’s economic prospects with both metal prices simultaneously breaching new record highs.
Gold is still trading above US4000 (A$6138) per ounce and silver prices have just broken above the US$50 (A$76.70) mark for the first time in 40 years, recording a new all-time high of $US51.22 (A$78.60) last week.
Terrain is planning follow-up RC drilling to test depth and strike extensions at both Lightning and Monza, alongside east-west trending magnetic zones and an untested northern target.
The plans come hard on the heels of a recently-completed IP survey at the Wildflower gold prospect, about 5km south of Lightning/Monza, with results expected in about four weeks. These pending results could put further polish on the prospectivity of the northern parts of the Smokebush ground .
The company has lodged a mining lease application over Lightning and is advancing metallurgical studies for next year to support a maiden mineral resource estimate.
Terrain’s broader Smokebush tenure also includes the Hurley and Paradise City prospects, where prior drilling has also hit encouraging gold grades.
With assays from the remaining 15 holes due in December, the company is poised to advance Lightning toward development, while also exploring regional targets.
Terrain’s current indicated mineral complement at Smokebush includes its core focus on gold, the increasing promise of a silver co-product, gallium and rare earths at Larin’s Lane and elevated copper and nickel associations in 2023 soil geochemistry.
As the company makes steady progress at Smokebush, Terrain looks well-placed to capitalise on the region’s rich polymetallic mineral endowment.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
