Terra Uranium (ASX:T92) is broadening its exploration strategy to include tin and precious metals alongside its existing uranium portfolio. The company is advancing a dual-focus approach targeting the New England region of New South Wales for tin and precious metals, and the Athabasca region of Canada for uranium. A key move is the binding term sheet to acquire LCT Metals, which holds exploration licences, including the historic Ottery tin mine, formerly the largest hard rock tin producer in the region, yielding about 2,700 tonnes at 2% tin. Historical data reviews have confirmed the asset’s potential, including a 66-metre intercept at 0.52% tin, with mineralisation also containing significant gold and silver.
In North America, initial work programs have been completed under option agreements with ATHA Energy. These reciprocal agreements allow ATHA to acquire up to 60% of Terra Uranium’s Pasfield Lake project, while Terra has the option to acquire up to 70% of ATHA’s Spire and Horizon projects. Ground reconnaissance and airborne geophysics are underway at Spire and Horizon, identifying follow-up targets. Terra Uranium is planning a coordinated program across its projects, with permits secured for a focused drill program in 2025. According to executive chair Andrew Vigar, the expansion allows Terra to evaluate past drilling results for tin, gold, and silver, while pursuing third-party arrangements in Canada similar to the Pasfield Lake agreement.
