Historic Drilling Shows 74m at 958 ppm Tin Equivalent at Deepwater Project

Historic Data Validates Deepwater's Potential

Terra Uranium Limited (ASX – T92) has announced a compelling update on its Deepwater Project in the New England region of New South Wales, Australia. The company has reviewed extensive historical exploration data dating back to the 1960s, including rock chip sampling and drilling campaigns by previous operators such as Amoco and Auzex. This review confirms the presence of significant tin, tungsten, molybdenum, and silver mineralisation hosted within greisen and stockwork breccia systems along a 3.5-kilometre strike length.

Notably, rock chip samples from 1981 returned impressive grades, including 3.13% tin, 13.7% tungsten, and 6% molybdenum. Historic drilling results further support these findings, with intercepts such as 74 metres at 958 ppm tin equivalent from 70 metres depth, including higher-grade intervals reaching 1,705 ppm tin equivalent. These results highlight the project's potential to host bulk-minable critical mineral deposits.

Strategic Acquisition to Secure Tenure and Accelerate Exploration

Terra Uranium has executed definitive agreements to acquire 100% of Dundee Resources Pty Ltd, the holder of Exploration Licence EL9764 encompassing the Deepwater Project. This acquisition consolidates Terra Uranium's position in the New England Tin Province, complementing its existing Glen Eden and Bald Nob projects. The company emphasizes that the historical exploration was conducted in compliance with the JORC Code 2012 standards, enabling the reporting of these results under ASX Listing Rules for the first time.

Chairman Andrew Vigar noted that the mineralisation style and grades at Deepwater are consistent with those at Glen Eden, reinforcing the company's regional strategy to develop a major critical minerals business focused on tin, tungsten, molybdenum, and bismuth in New South Wales. The acquisition and data review lay a solid foundation for advancing exploration activities.

Path Forward – Detailed Exploration and Resource Definition

Terra Uranium plans an extensive follow-up exploration program post-acquisition, prioritizing field validation of historical data, detailed geological mapping, and geophysical surveys including LiDAR and remote sensing. The company aims to undertake infill drilling to better define higher-grade zones and test extensions at depth, with an expected timeline of approximately two years for this phase.

Metallurgical test work from analogous nearby deposits suggests promising recoveries for tin, tungsten, and molybdenum, supporting the project's economic potential. The mineralisation remains open along strike and at depth, indicating significant upside for resource expansion.

As global demand for critical minerals intensifies amid the energy transition, Terra Uranium's Deepwater Project positions the company to contribute valuable supply of tin, tungsten, molybdenum, and bismuth; elements essential for low-carbon technologies and industrial applications.