Terrain Minerals Announces Holiday Drilling Pause at Wildflower Gold Project
TMX (TMX) Share Update December 2024 Thursday 19th
Terrain Minerals Pauses Drilling at Wildflower Gold Project for Holidays
Terrain Minerals Limited has announced a temporary pause in its 2024 drilling campaign at the Wildflower Gold Project, allowing staff to enjoy the holiday season while ensuring occupational safety.
Instant Summary:
- Drilling paused for Christmas and New Year, resuming early January 2025.
- 8 holes completed, totaling 1,182 RC meters.
- Samples to be collected on 23 December 2024, with results expected in January 2025.
- Drilling targets include Cota, T16, and Wildflower.
- Raglan's drill remains secure on site.
Drilling Campaign Update
Terrain Minerals Limited has announced a pause in its 2024 drilling campaign at the Wildflower Gold Project, which is 100% owned by the company. The pause is scheduled to last through the Christmas and New Year period, with drilling expected to resume in early January 2025. This break is intended to provide Terrain's geological staff and Raglan's drillers with a well-deserved rest, emphasizing the importance of family time during the holiday season.
The decision to pause operations also serves an important Occupational Health and Safety (OH&S) purpose, as the mining industry often operates in remote and isolated environments. The Wildflower Gold Project is located approximately 350 kilometers north of Perth, Western Australia, making it feasible for staff to spend extended time at home during this period.
Progress and Future Plans
Before the pause, Terrain completed 8 holes, totaling 1,182 Reverse Circulation (RC) meters. The drilling targets included Cota (T16W), T16, and one of three planned holes at Wildflower. The company is pleased with the targeting and progress made so far. Raglan's drill remains secure on site, and Terrain plans to announce the recommencement of drilling in due course.
Samples weighing approximately 2,500 kg are scheduled to be collected on 23 December 2024 and sent to the laboratory for processing. The first batch of sample results is expected to be released in January 2025. Based on current production rates, Terrain anticipates it will take around ten days to complete the drilling program once it resumes.
The pause in drilling is unlikely to have a significant negative impact on Terrain's stock, as it aligns with holiday traditions and safety protocols. Investors may appreciate the company's commitment to staff welfare and safety, potentially maintaining or even boosting investor confidence in the long term.
Investor Reaction:
Analysts are likely to view the pause as a standard industry practice during the holiday season. The anticipation of upcoming sample results in January 2025 may keep investor interest piqued, as the results could provide insights into the project's potential.
Conclusion:
Investors should monitor the release of sample results in January 2025 to evaluate the project's progress and potential. Terrain Minerals' strategic approach to balancing operational demands with staff welfare highlights its commitment to sustainable practices.