Terrain Minerals is showing impeccable timing, launching a new drill campaign at its Wild Viper gold project in WA, just as the gold price reaches for the stars. The company is set to complete 1,000 metres of reverse circulation drilling across two key targets within the project area north of Leonora.
The Wild Viper project is located 70km north of Leonora in WA’s renown Eastern Goldfields. The company’s tenure covers more than 25 square kilometres of the historic Weebo goldfield and is a just a short distance from Round Oak’s Teutonic Bore mining operations about 10km down the road.
Terrain is looking to capitalise on its detailed knowledge of the Wild Viper region having recently completed exploration over its Great Western deposit and completed its subsequent sale to nearby miner, Red 5 - pocketing a handsome $3 million in cash and shares along the way.
The cashed-up Terrain consequently pried the prospective looking Wilson Patch prospect from the hands of local prospectors, putting in place ‘the missing piece of the puzzle’. The acquisition has delivered Terrain control of close to 4km of the mineralised Great Western structure, with plenty of room to make a sizeable discovery.
Previous work at Wilson Patch has concentrated on prospecting work around the historic mine workings with sampling returning high-grade assays of up to 9.92 g/t gold. The addition of Wilson Patch delivers Terrain an impressive set of targets throughout the project area, including the eastern and western strike extensions to Great Western.
Recent work by the company has identified two key drill targets at Wild Viper. Drilling will be focused on the first target area – the extensions to the Great Western mineralisation. The company’s geophysical and geochemical programs have already outlined anomalies along the strike extents of the structure with drilling set to test these targets in the coming weeks.
The second drill target at Wild Viper is the Black Cat South prospect area in the north of the tenure. The company is targeting a potential parallel structure to the historic Black Cat workings north of the tenement boundary, with a gold anomalism defined in sampling along more than a kilometre of strike.
Terrain is also continuing to explore over its highly prospective Smokebush gold acquisition in WA’s Murchison goldfield west of Payne’s Find. Environmental surveys have now been completed and a program of works approved for drilling in the third quarter of 2020, with intercepts of 2 metres at 11.3 g/t gold in previous drilling suggesting the potential for some exciting follow up numbers.
Terrain looks set to power through the second half of 2020 with more than $2 million in the bank and a bag full of gold targets throughout WA’s rich Goldfields.
Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
