Samso News: Terra Critical Minerals — Closes Acquisition of the High-Grade True American Tungsten Project in Nevada, USA - A US Focused Tungsten Optionality.
- Noel Ong
- 5 days ago
- 6 min read
Announcement
Terra Closes Acquisition of True American Tungsten Project – 16 January 2026 (view the announcement)
This is going to make some interesting research as the Company finalises the acquisition. Tungsten is definitely the flavour that will dominate 2026. I will be looking at the project closely as the details are released, as any tungsten projects will be a hot prize.
The Business of Terra Critical Minerals Limited: Tungsten
Terra Critical Minerals (ASX: T92) is an ASX-listed exploration company focused on strategic minerals across Australia, Canada, and the United States (Figure 1). The Company’s portfolio spans tungsten, tin, molybdenum, bismuth, uranium, and precious metals, with assets located in established mining regions and supported by experienced technical teams.
Figure 1: Terra’s Strategic Project Footprint Across Australia, Canada, and the USA (source: T92).
The acquisition of the True American Tungsten Project (Figure 2) complements Terra’s existing tungsten exposure in New South Wales and extends its footprint into the U.S. critical minerals sector.
Figure 2: Project location with regional tungsten projects (source: T92).
Highlights – The True American Tungsten Project in Focus
Terra has completed the acquisition of 100% ownership of the True American Tungsten Project in central Nevada, USA.
The Project is located at the junction of the Getchell and Battle Mountain mineral belts, a region known for multiple tungsten, gold, and base metal deposits.
Two historical adits record high-grade tungsten production in the 1940s, primarily from scheelite skarns and tungsten-bearing vein systems.
Historical sampling reported grades of 4.2% WO₃, 5.12% WO₃, and hand-sorted ore shipments grading 1.69% to 11.1% WO₃, based on U.S. Bureau of Mines data.
No modern exploration has been conducted since the mid-1940s, highlighting the Project as under-explored by current standards.
A USGS 2021 study identified anomalous tungsten stream sediment geochemistry, suggesting potential for additional mineralised zones beyond known workings (Figure 3).
Figure 3: USGS Prospectivity Analysis (Lederer et al 2021). (source: T92)
Geological mapping indicates the mineralisation is related to a granodiorite intrusive and associated skarn system, with favourable structural and stratigraphic controls (Figure 4).
Figure 4: Mineral claims and local geology. (source: T92)
Leadership Commentary
Terra’s Chairman, Andrew J. Vigar, commented:
Our proactive entry into the US space positions us exceptionally. As one of the few ASX companies to act, our 100% acquisition of the True American Tungsten Project in the US’s premier jurisdiction creates a powerful launching pad for the company. Backed by Nevada's mining heritage and strong federal support under the current administration, the timing is ideal. Next step for us is deploying boots on the ground as early as February 2026 to validate high grades with a modern, systematic approach.
Near-term Milestones to Watch
Detailed geological mapping to define limestone horizons and structural controls.
Systematic soil and rock-chip geochemistry targeting tungsten and pathfinder elements.
Ground magnetic and IP geophysical surveys to map intrusive contacts and skarn-related features.
Drill testing of priority targets where geological, geochemical, and geophysical indicators align.
Samso Concluding Comments
The True American Tungsten Project provides Terra with direct exposure to a U.S.-based tungsten asset at a time when supply is limited and prices are high. Historical production and sampling show that high-grade mineralisation is present, although the data have not yet been validated under modern reporting standards.
The Project’s location in central Nevada places it within an established mining region with supporting infrastructure and clear regulatory frameworks. The proximity to known mineral belts adds geological context and supports the case for systematic exploration.
USGS geochemical data points to areas of anomalous tungsten beyond the historical workings. This suggests potential for additional mineralised zones that have not yet been tested by drilling.
Terra’s planned work program is structured to reduce uncertainty through staged exploration. Mapping, geochemistry, and geophysics are intended to refine targets before committing to drilling.
Market Implication - The Investor Lens
As tungsten prices continue to rise, the lack of decent projects is probably going to drive the price even higher. Time will tell if the True American Tungsten Project will set any alight with excitement. I have the opinion that you need a disseminated style tungsten mineralisation that will be a bulk mining capacity, or you are going to have a high-grade body that must clearly demonstrate scale. Typically, most tungsten projects are thin and spotty in terms of scale, and that makes them not viable.
How T92 develops the True American Tungsten Project will be the key for me as an investor. Fundamentally, being in the US is a good tick in a box. The markets tend to like that, and I will have to agree with that point of view, as you are close to the market and you have the protection of the Trump factor.
Figure 5: T92 share price chart as of 20th January 2026. (source: CommSec)
The market is liking what Terra Critical Minerals management is doing with the tungsten narrative, and the share price rallying in August-September 2025 is a clear sign of their appreciation (Figure 5). I think it is a good thing that the hype is not on this second run yet. I like to think that once the details are released, in terms of good data, the market will value it accordingly. I do not doubt that if there are substantiated results, the share price will rocket.
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