Terrain Minerals has announced a new rare earth element (REE) zone has been hit at its Lort River project in Western Australia.
The find, described as “significant”, shows encouraging results from shallow drilling which may indicate a REE system within a 66 square kilometre basin within the Albany Fraser range.
The target area is hosted on a mafic intrusive unit, something Terrain Minerals executive director Justin Virgin said is “very different geologically” when compared to typical REE deposits.
“We will be back in February for more planning works at the site. This is pretty exciting for a secondary project,” he said in an interview with Proactive Investors.
The 100 per cent-owned project, located 650km southeast of Perth within the Albany-Fraser belt is home to confirmed potential high-demand rare earths such as neodymium and praseodymium which are critical for global industries.
Drilling in January 2025 revealed significant results at the site, including 8m at 4,049 parts per million (ppm) of total rare earth oxides (TREO) from 23m, which are said to compare favourably to both leading Australian and Brazilian projects.
Terrain also recently released its quarterly activity report, highlighting high-grade gold and silver from its primary Smokebush project at the Lightning target.
Results from 22 holes included intercepts of 13m at 8.13 grams per tonne (g/t) of gold from 122m and 21m at 15.79 g/t of silver from 105m.
“This is really exciting for the company. I think we’re onto the real deal here,” Virgin said.
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