Terramin Australia Limited (ASX:TZN) Exploration Drilling Commencement

Terramin Australia Limited (ASX:TZN) has announced the commencement of exploration drilling at the South Gawler Ranges Project (SGRP) in collaboration with Japan Organization for Metals and Energy Security (JOGMEC). The exploration program, which is part of a $10.5 million agreement, includes three diamond drillholes targeting various mineralisations. JOGMEC has already invested over $1.5 million and earned a 30% interest option in the SGRP tenements. The drilling activities are expected to be completed by mid to late November 2024.

Executive Commentary on Exploration Drilling Commencement

The commencement of the exploration drilling program at the South Gawler Ranges Project marks an important milestone in our collaboration with JOGMEC. This program represents a significant step towards unlocking the potential of the SGRP, which is an underexplored and highly prospective multi-commodity asset. We are pleased with the progress made so far and look forward to the results of the drilling activities. The partnership with JOGMEC underscores our commitment to advancing exploration and development initiatives in the region.

Exploration Drilling Commencement Summary and Outlook

Terramin Australia Limited (ASX:TZN) has initiated an exploration drilling program at the South Gawler Ranges Project in partnership with JOGMEC. The program, funded under a $10.5 million agreement, aims to explore various mineralisations including skarn-hosted Cu/Au, Iron Oxide Copper Gold (IOCG), and dense conductive rocks for potential IOCG mineralisation. JOGMEC's substantial investment and earned interest in the SGRP demonstrate confidence in the project's prospects. The SGRP, with its potential to host significant mineralisation, presents an exciting opportunity for both Terramin and JOGMEC. The completion of the drilling activities by mid to late November 2024 will provide valuable insights into the project's mineral potential and pave the way for future development. Terramin remains committed to driving exploration efforts and maximizing the potential of the SGRP in line with its corporate strategy.