The planned program includes 54 holes for 5,735m aimed at resource growth at the Lightning deposit through open-pit infill and strike-extension drilling, including targets for resource-classification upgrades within the top 150m. A further 32 holes for 5,170m are planned to test seven priority induced-polarisation targets interpreted by the company as potential parallel repetitions of the Lightning system.
Terrain reported an independent inferred Mineral Resource Estimate for Lightning of 677,000 tonnes at 2.5 g/t gold and 7.2 g/t silver, containing 54,000 ounces of gold. The company said mineralisation starts at surface and remains open along strike and at depth.
The company said a mining lease has been granted over the Lightning area. It also reported that 98 drill holes have been completed at the deposit, comprising 94 RC holes for 16,173m and four diamond holes for 328m.
Source: Download TMX official ASX announcement, 2026-10-12.
Drilling-rig photograph from Terrain Minerals' October 2026 investor presentation.