Terra Critical Minerals Acquires High-Grade True American Tungsten Project in Nevada, USA
- Noel Ong
- 3 days ago
- 6 min read
Announcement
Terra to Acquire True American Tungsten Project (click here to view the announcement)
Terra Critical Minerals Limited (ASX: T92) has taken a decisive step into the North American critical minerals landscape with the acquisition of the True American Tungsten Project, located in central Nevada at the junction of the prolific Getchell and Battle Mountain Mineral Belts (Figure 1).
Figure 1: Project Location Map (source: T92)
This is a historic, high-grade, past-producing tungsten system with geological signatures consistent with larger skarn-style systems. The combination of location, grade, commodity pricing, and strategic timing makes this a highly intriguing development from the Company.
The Business of the Company: Focus – Projects
Terra Critical Minerals continues to operate as a diversified strategic minerals explorer focused on tungsten, tin, silver, gold, and uranium across Australia and Canada. The Company’s portfolio now includes:
True American Tungsten Project (Nevada, USA) – newly acquired, high-grade tungsten system.
Ottery Tin & Precious Metals Mine (NSW) – 100% owned.
Glen Eden Tin–Tungsten–Molybdenum Project (NSW).
Athabasca Basin Uranium Portfolio (Canada) – including Engler Lake, HawkRock, Rapid River, Yurkowski Lake, and more.
With a team that has deep structural and uranium expertise, Terra is positioned across multiple critical supply chains.
Highlights – Binding Agreement to Acquire a High-Grade Tungsten Project in Nevada
1. Terra Acquires 100% of the True American Tungsten Project
Terra has signed a binding agreement to acquire the True American Tungsten Project in Nevada, a jurisdiction hosting tier-one tungsten, gold, and polymetallic systems. This project sits along strike of the Springer Mine, adjacent to Pilot Mountain and Tennessee Mountain, all recognised tungsten centres.
2. Historic High-Grade Tungsten Samples up to 11.1% WO₃
The Project boasts compelling historic assays from US Bureau of Mines datasets, including: 11.1% WO₃ from hand-sorted ore (USBM 1963). 5.12% WO₃ (USBM 1963). 4.2% WO₃ (USBM 1963).A total of 33 tonnes of ore historically shipped returned grades between 1.69% to 11.1% WO₃. These are exceptional grades for tungsten skarn systems.
3. District-Scale Exploration Potential Identified by USGS (2021)
Recent USGS work highlights strong anomalous stream-sediment geochemistry, suggesting that multiple tungsten-bearing zones may extend south of the known workings. This aligns with intrusive-related fluid pathways typically associated with larger skarn systems (Figure 2).
Figure 2: USGS Prospectivity Analysis (source: T92).
4. Geological Positioning Linked to Major Tungsten Skarn Systems
The Project sits at a key structural and intrusive intersection where granite contacts with limestone and volcanics generate tungsten skarn mineralisation. The USGS tungsten skarn model shows the potential scale of these systems (Figure 3).
Figure 3: USGS Tungsten Skarn Model (source: T92).
5. Under-Explored with No Modern Exploration Since the 1940s
Despite historic production, no modern drilling, geophysics, or systematic mapping has been conducted since 1945. The area remains open for major new target definition.
6. Tungsten Prices at All-Time Highs
Tungsten prices have surged above USD $780/MTU, driven by tightening Chinese export restrictions, escalating defence needs, and expanded demand from aerospace and datacentres (Figure 4). This macro setting strengthens the strategic rationale for Terra’s acquisition.
Figure 4: Tungsten Market Chart (Source: Shanghai Metals Market).
7. Proposed Exploration Program (2026 Onwards)
Terra plans to launch a staged program including: Geological mapping and structural analysis. Geochemical sampling for W–Mo–Bi–Cu pathfinders. Geophysics: IP and magnetics to identify contacts and concealed intrusions. Targeted diamond drilling across prospective limestone units at depth. This staged program aims to identify a larger, blind tungsten system at depth.
8. Additional Claims, Royalty Terms, and Entitlement Offer
Terra will acquire 100% with staged share payments and modest royalties (combined NSR 1.5%, partly buy-backable). A separate Entitlement Offer of quoted options aims to raise up to $600,000, supporting both working capital and exploration budgets. Key milestones include additional claim staking and reporting of future JORC-compliant resources.
About the Project
The True American Tungsten system is hosted within a metamorphosed shale–volcanic package with thin limestone horizons intruded by diorite dykes. This geological setting is classic for tungsten skarn development, particularly where intrusives feed metal-bearing fluids toward receptive carbonate host rocks (Figure 5).
Figure 5: Local Geology and Mineral Claims Map (source: T92).
The mineralisation is primarily scheelite within quartz vein stockworks, with evidence of contact metasomatic alteration forming tungsten lenses along limestone beds dipping ~30–40° east. The presence of diorite dykes is interpreted as evidence of a deeper concealed pluton — the likely source of the system’s fertility.
Near-term Milestones to Watch
Completion of the acquisition and claim transfer (expected end of 2025).
Staking of additional unpatented mining claims.
First-phase mapping and structural interpretation.
Initial tungsten–pathfinder geochemistry program.
Geophysical surveys (magnetics & IP) to define subsurface targets.
Identification of drill targets along limestone units proximal to intrusive margins.
Entitlement Offer completion and quotation of new options
How Samso Understands the Investment Memo for the Company
This acquisition is best viewed as a strategic, high-grade tungsten entry into the US supply chain at a time when global tungsten markets are undergoing significant geopolitical rebalancing. The rarity of high-grade tungsten systems, combined with the Project’s location near known deposits, gives Terra a unique platform to grow value in a commodity that is experiencing long-term structural support from defence, aerospace and advanced manufacturing. The minimal historic work and absence of modern exploration increase the chance of transformative upside.
Samso Concluding Comments
From an exploration standpoint, the True American Tungsten Project offers a rare opportunity: a historically mined high-grade system that has seen no modern scientific work. In 2025, such opportunities are increasingly scarce. The system’s structural and lithological context suggests that the known workings represent only the shallow expression of a much larger skarn system potentially concealed at depth. The presence of diorite dykes, anomalous geochemistry, and granite intrusions is a textbook precursor for larger tungsten deposits.
The tungsten market fundamentals cannot be ignored. With China controlling ~80% of global supply and tightening export restrictions, tungsten has moved from a specialist metal to a strategic asset of international importance. Defence supply chain assessments from NATO, South Korea, and the US all highlight tungsten as a high-risk, high-priority commodity. For Terra to secure an early-stage project in a US jurisdiction at this moment places them strategically ahead of the curve.
In summary, the Project’s combination of geology and market timing presents a compelling case. With Terra’s positioning within the Tungsten narrative and the recent success of several ASX companies with critical minerals projects in the US, this will make an interesting narrative. For investors seeking exposure to a rising strategic commodity, this development is worth close attention.
For those want a deeper DYOR process, check out the following Coffee with Samso and Samso Insights that we have covered recently:
Coffee with Samso:
Samso Insights:
The Samso Way – Seek the Research
Real insights come from understanding the geology, the strategy, and the market—so always do your own research.
Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity.
Our content is well-researched and is only created if the team sees a merit in discussing the company or concept. Investors can explore our three core platforms:
There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals.
Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete.
The Samso Philosophy:
Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value.
In Life, there is no such thing as a Free Lunch.
Happy Investing, and the only four-letter word you need to know is DYOR.
To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018.
Disclaimer
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints.
Share to Grow: Your Bonus
Samso has just released an eBook: How to Add Value to your Share Portfolio
A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook.
If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please contact me at noel.ong@samso.com.au.
Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.
Comments