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Terrain Minerals uncovers broad rare earth system at Lort River
Terrain Minerals uncovers broad rare earth system at Lort River
Proactive June 30, 2026 3 min readTerrain Minerals Ltd (ASX:TMX, OTC:TMXAF, FRA:T4Y) has confirmed a broad clay-hosted rare earth system at its 100%-owned Lort River Project in Western Australia, with aircore drilling returning widespread mineralisation and a standout high-grade heavy-rare-earth interval.
Assays from a completed 35-hole aircore program identified total rare earth oxide (TREO) values above 200ppm in 25 holes, confirming mineralisation across a shallow system from surface to 87 metres downhole.
The Lort River Project is about 50 kilometres northwest of Esperance in the Albany-Fraser Belt, a region with established infrastructure and proximity to export facilities.
High-grade zone to be followed up
The headline result came from hole LTAC028, which returned: 8 metres at 3,349ppm TREO from 27 metres, including 6 metres at 4,230ppm TREO and a peak 3-metre composite grading 5,568ppm TREO.
Importantly, the 8-metre interval carried 33% heavy rare earth oxides (HREO), while the peak 3-metre section carried 37% HREO, including dysprosium and terbium — two high-value rare earth elements used in permanent magnets for electric vehicles, wind turbines and defence systems.
Terrain's results represented a strong heavy rare earth proportion relative to other Australian clay-hosted deposits and would be a focus of follow-up work.
Broad, shallow mineralisation
Beyond the high-grade zone, drilling also returned wide shallow intersections that point to the scale potential of the system.
Hole LTAC023 delivered 60 metres at 530ppm TREO from 27 metres, the widest continuous interval in the program, while LTAC024 returned 45 metres at 455ppm TREO from 12 metres.
Ten of the 35 holes ended in mineralisation, suggesting the system may extend below the depth reached by aircore drilling and that reported widths could understate the project's rare earth potential.
Terrain noted the system is light-rare-earth dominant but includes a well-developed neodymium-praseodymium magnet component, together with discrete heavy rare earth-enriched zones.
"Genuinely broad system"
Terrain executive director Justin Virgin said the program had achieved two important objectives for Lort River.
"This program does two things for Lort River. First, it confirms the presence of a genuinely broad system, with rare earths in 25 of 35 holes, and secondly it has found a high-grade interval in LTAC028 that we intend to chase."
"The basket is a sensible mix of a solid neodymium-praseodymium magnet component that underpins value, together with heavy rare earth zones that add a good component of high-value heavy rare earths and lift the value of the system in places. The single-metre assays now underway will help us define where the best of both sit."
Story ContinuesVirgin said Terrain was also advancing processing work, including a beneficiation and acid-leach route with direct financial assistance from the Western Australian Government.
Processing route being de-risked
Terrain's processing remained a key value question for any clay-hosted rare earth project.
The company is progressing metallurgical work with Curtin University under MRIWA Project M10528, partly funded by the WA Government, with results expected in coming months. Lort River-specific test work is expected to begin later in 2026 and continue into 2027.
The company also reported low uranium and thorium levels in mineralised samples, averaging 12ppm uranium and 29ppm thorium, indicating low anticipated radioactivity.
Terrain has submitted single-metre samples from priority holes and all composite intervals above 200ppm TREO, with results pending.
The company plans to review the complete dataset, assess the spatial coherence of the high-grade and heavy rare earth-enriched zones, twin the near-surface LTAC051 result and begin reverse circulation resource definition drilling across the shallow rare earth corridor.
The next phase of drilling is expected to support a maiden Mineral Resource Estimate for Lort River.
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