Nice grades, more drilling to come and only 44 mill on issue
Terrain Minerals Ltd ASX Announcement 26 April 2007 Page 1 26 April 2007 Company Announcements Officer Australian Stock Exchange Level 4 20 Bridge Street SYDNEY NSW 2000 HIGH GRADE DRILL INTERCEPTS FROM GREAT WESTERN DRILLING Drilling commenced on 5 April 2007, close to the historical Great Western workings (27,000t @ 13.7g/t gold (12,000 oz)). The drilling program has been designed to confirm and upgrade the current resource to JORC compliance, as well as test the strike and down dip extensions of the deposit. Geological mapping and rock chip sampling has defined the Great Western structure over a strike length of 2.5kms. The Directors of Terrain are delighted with both the high grade nature and the width of the intersections received to date. Samples from the next three drill holes are at the assay laboratory and drilling is continuing. To date the drilling has intersected a number of quartz reefs with high grade gold values in the Main and a Hanging Wall reef. The Great Western project was acquired, late in 2006, as an addition to the Bundarra project, which hosts 3.07mt @ 1.96g/t gold (194,600 oz) at the Wonder North and Celtic deposits. The Great Western structure trends sub-parallel to; and is located 2 kms north of the structure hosting the Wonder North deposit. The current program is expected to increase the published gold resources at Bundarra. HIGHLIGHTS Drill intercepts from the first nine RC holes include: 7m @ 10.02g/t gold, from 43m; including 2m @ 26.80g/t gold, from 43m 7m @ 3.51g/t gold, from 83m 3m @ 11.63g/t gold, from 61m 21m @ 5.21g/t gold, from117m; including 4m @ 13.80g/t gold, from 117m; and 2m @ 11.20g/t gold, from 134m • 4m @ 6.82g/t gold, from 47m Terrain Minerals Ltd ASX Announcement 26 April 2007 Page 2 ABOUT TERRAIN MINERALS LTD Terrain Minerals Ltd (ASX: TMX) is a focused gold explorer with four projects in the Eastern Goldfields of Western Australia: Bundarra, East Kambalda, Redcastle and Euro; all include immediate drilling targets. More recent ground acquisitions have also been undertaken at Black Cat and Great Western, both adjacent to the Bundarra project. Both these new projects also include immediate drill targets. Resources include: Bundarra – Celtic: 1,087,700t @ 1.66g/t gold ( 58,100 oz) Wonder North 1,978,300t @ 2.13g/t gold (136,500 oz) 3,066,000t @ 1.96g/t gold (194,600 oz) East Kambalda – Coogee 277,400t @ 3.91g/t gold ( 34,870 oz) Total: 3,342,500t @ 2.12g/t gold (229,500 oz) Terrain listed on the ASX in March 2006; raising $5 million. A vigorous exploration program has been underway since listing and encouraging results have been received from all the projects, particularly Bundarra and Redcastle. Further information regarding Terrain’s projects and exploration programs can be found on the Company’s website, www.terrainminerals.com.au. Contact: Keith Wells Managing Director Terrain Minerals Ltd ACN-116 153 514 Telephone: +618 9481 2455 [email protected] The information in this report that relates to Exploration Results is based on information compiled by Mr Keith Wells, who is a full-time employee of Terrain Minerals Ltd. Mr Wells is a member of The Australian Institute of Geoscientists and 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 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Wells consents to the inclusion in the report of the matters based on information in the form and context in which it appears. Terrain Minerals Ltd ASX Announcement 26 April 2007 Page 3 SIGNIFICANT DRILL RESULTS – GREAT WESTERN PROSPECT Hole No East North Length (m) From # (m) To (m) Interval (m) Grade (g/t Au Lode GWRC 051 321485 6866140 54 21 320 11 0.75 Main GWRC 052 Including 321485 6866120 102 20 39 43 43 24 43 50 45 4 4 7 2 3.75 Stope 10.02 26.80 H. Wall Main Main Main GWRC 053 321485 6866100 162 43 50 7 3.51 Main GWRC 054 321485 6866080 162 85 123 87 127 2 4 5.19 1.50 H. Wall Main GWRC 055 321485 6866060 186 145 151 158 146 153 160 1 2 2 4.24 1.12 1.31 Main Main Main GWRC056 321485 686040 150 Abandoned GWRC057 321455 6866098 132 61 77 64 79 3 2 11.63 Stope H. Wall Main GWRC058 Including including 321455 6866068 150 62 117 117 134 67 138 121 136 5 21 4 2 0.69 5.21 13.80 11.20 H. Wall Main Main Main GWRC059 321430 6866107 90 27 47 28 51 1 4 4.72 6.82 H. Wall Main 1. All holes drilled by RC. 2. All holes drilled at -60º. 3. All holes drilled towards Azimuth 360º 4. Lode correlations are preliminary and will be subjected to a more detailed interpretation Terrain Minerals Ltd ASX Announcement 26 April 2007 Page 4
TMX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
