Terrain Minerals Limited - Exciting Gallium & REE drilling results at Larin's Lane

About this update from Terrain Minerals Ltd

Terrain Minerals Limited (ASX: TMX) ('Terrain' or the 'Company') advises that the majority of the remaining samples have been received back from the air-core drilling campaign undertaken in December 2023 at the Company's 100% owned Larin's Lane project, located at the Smokebush project and approximately 350 kilometres north of Perth, Western Australia . Larin's Lane - Gallium & Rare Earth Elements (REE): REE Project : Located within the newly Emerging Midwest clay-hosted rare earth elements (REE) district of Western Australia , which is quickly earning a reputation as Australia's premier destination for REE mineralisation. The Company notes that Venture Minerals Ltd (ASX: VMS) recently reported the highest-grade clay hosted REE intersection at their Jupiter project, which is located approximately 80 kilometres north and further supports Terrain's assertion of the growing clay hosted REE potential of the mid-west region of WA (refer to diagram 1). Total Rare Earth Oxide (TREO) grades up to 3,254ppm (223SBAC054 from downhole). Valuable magnetic rare earth oxides (MREO) considerable great than 25% of TREO mineralisation. Latest drilling increases grade, thickness and scale of interpreted rare earth mineralisation. Gallium Project : Excitingly 70% of holes returned impressive intersections of Gallium up to 64m wide and with multiple higher-grade zones up to 53.74 ppm Ga2O3, across the 6km long (open) project area. The Gallium appears to sit in the upper zones above the REE mineralisation and within layers of clay regolith. The Gallium results have been presented in two groups and only show intersections 8m and above. Group one uses a 40.32ppm Ga2O3 cut off and group two uses a 26.88ppm Ga2O3 cutoff grade (refer to diagram 2) The first batch of samples only tested the interface zone (ASX Release 11 March 2024 ). From these results Terrain identified elevated clay rare earth element (REE) and gallium (Ga) assays across the Larin's Lane prospect, and the reason why the above samples were submitted for testing. Note: Results from 180 samples bagged in 4m composites are yet to be submitted with 18 out of the 101 holes remaining partially incomplete. It should be noted that Terrain has increased the lower cut-off value to 1,000 ppm total rare earth oxide (TREO), which mirrors the cut-off presently being using for clay hosted REE projects in Brazil . By comparison, typical REE projects across Australia seem to apply a significant reduced lower cut-off value. Terrain's REE clay hosted mineralisation at Larin's Lane appears, at this early stage, to support the increased 1,000 ppm TREO lower cutoff suggestive of the prospectivity of this project to host high grade REE mineralisation. Terrain also intends to continue to advance the Gallium potential at Larin's Lane and its Lort River projects in parallel with REE exploration across these tenements, the next stages of work are now being assessed, including alternative routes for metallurgical extraction of the REE. This reflects the Company receiving interest from unrelated third parties in relation to these commodities, Terrain confirms that discussions are ongoing Competent Person's Statement The information in this report that relates to Exploration Results are based on information compiled by Mr. B. Bell , who is a Member of the Australian Institute of Geoscientists and is a consultant retained by Terrain Minerals Ltd. Mr Bell is a shareholder and options holder of Terrain Minerals Ltd. Mr Bell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Bell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. (C) 2024 Electronic News Publishing, source ENP Newswire

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