Terrain’s Drilling Push Could Make or Break Its Murchison Gold Ambitions

Drilling Commences at Lightning Prospect

Terrain Minerals Limited (ASX – TMX) has officially commenced a major reverse circulation (RC) drilling program at its 100%-owned Lightning Gold Prospect, located in the prolific Murchison Gold Province of Western Australia. The initial phase involves 21 holes totalling approximately 4,500 metres, with the goal of advancing towards a maiden mineral resource estimate targeted for mid-2026.

Lightning has already demonstrated promising high-grade gold and silver mineralisation, with previous drilling intercepts including 22 metres at 2.71 grams per tonne (g/t) gold and 13 metres at 8.13 g/t gold. These results underpin the company’s confidence that Lightning could evolve into a significant new discovery within a well-established mining district.

Expanding the Footprint at Wildflower

Following the Lightning campaign, Terrain plans to shift its drilling focus to the Wildflower Gold Prospect, where 13 holes for 2,300 metres are scheduled. Recent induced polarisation (IP) geophysical surveys at Wildflower have identified multiple high-priority targets, revealing large-scale structures analogous to those at Lightning. These targets extend over an 800-metre strike, suggesting robust potential for additional gold mineralisation in the region.

Strategic Drilling Objectives

The comprehensive 6,800-metre program is designed around three core objectives – extending known gold zones at Lightning and Monza trends (71% of drilling), testing new east-west trending magnetic features that may host gold (22%), and exploring a previously undrilled area with similar magnetic signatures to Lightning (7%). An additional 500 metres of drilling is reserved for follow-up on any promising results encountered during the campaign.

Executive Director Justin Virgin emphasised the company’s commitment to rapid advancement, stating, "We are thrilled with the exceptional gold and silver results from Lightning to date. This program sends a clear signal that Terrain is focused on delivering a maiden resource estimate in 2026, with strong news flow expected early next year and beyond." He also highlighted the broader potential, noting that multiple targets across both prospects could reveal a district-scale gold system.

Location and Market Context

Situated approximately 350 kilometres north of Perth and just 15 kilometres from Vault Mining’s operating Rothsay Gold Mine, the Lightning and Wildflower prospects benefit from proximity to established infrastructure and a proven gold mining jurisdiction. The Murchison Gold Province is renowned for hosting million-ounce deposits, lending further credibility to Terrain’s exploration ambitions.

With assay results expected from mid-February 2026 and a maiden JORC resource estimate planned for mid-year, Terrain Minerals is positioning itself for a potentially transformative period. The company’s methodical approach, combined with encouraging early results, offers investors a compelling glimpse into what could be a significant new chapter in Western Australia’s gold exploration landscape.