Terra Uranium Poised for Growth as It Diversifies Beyond Uranium with NSW Acquisitions

Terra Uranium (ASX: T92) is ready to expand its critical minerals opportunities after adding two precious metals projects in the New England region of NSW to its Canadian uranium operations during the June quarter.

In April, Terra acquired private company LCT Metals, which holds high-grade tin-silver-gold exploration licences including the historical Ottery tin mine, the Castle Rag silver project and the Mole River silver-tin project.

The company followed that a couple of months later with the acquisition of unlisted Dundee Resources, which owns the state’s largest undeveloped tungsten-tin-molybdenum project located approximately 50 kilometres from the Ottery site.

Historical Tin Producer

The Ottery mine was once the largest hard rock tin producer in the New England region, producing around 2,700 tonnes of tin oxide at an average grade of 2%.

Exploration LCT had completed since taking ownership of the project in 1980 had highlighted significant drilling results for tin, gold and silver, which Terra has commenced evaluating with a view to planning and permitting for further field activities and maiden drilling.

The Dundee acquisition netted the company a tenement package comprising the Glen Eden, Bald Nob and Deepwater tin, tungsten, molybdenum, silver and base metals projects.

While Glen Eden has only been assessed to a depth of between 100 and 150 metres, estimates of the project’s resource range up to 30 million tonnes, containing as much as 0.08% tungsten, 0.04% tin, and 0.10% molybdenum.

Canada Remains Key

Executive chair Andrew Vigar said that the NSW additions would not affect Terra’s Canadian uranium plans for its nine projects in the highly prospective Athabasca Basin region.

Terra Uranium and ATHA Energy exchanged reciprocal agreements in late 2024 that give ATHA the option to acquire up to 60% of Terra’s Pasfield Lake project and T92 the option to acquire as much as 70% of ATHA’s Spire and Horizon projects.

Terra has since designed a co-ordinated 2025/26 exploration program across all projects with multiple drill-ready targets.

Seeking New Opportunities

Mr Vigar revealed the company is looking to follow up the ATHA Energy agreement with similar third-party arrangements.

“The T92 exploration strategy has been expanded from a sole uranium focus to include critical metals in New South Wales [and] the acquisition of the Glen Eden tungsten tin project is a major step,” he added.

“This is an exciting time for T92 [and] we thank new and existing shareholders for their continued support in a challenging market for uranium equities over the past 12 months.”

Terra is well funded heading into the second half of 2025, having raised an additional $864,000 through a share placement in July, leaving it in a good position to take advantage of any recovery in the uranium price.