Terrain Minerals (ASX:TMX) started a reverse circulation drilling campaign at its Lort River project in Western Australia, following the completion of the ground-based moving loop electromagnetic survey in December 2024, according to a Thursday filing with the Australian bourse.

The program will drill high-priority versatile time domain electromagnetic bedrock sulfide conductor targets, three of which were tested during ground electromagnetic work, the filing said.

Drill sample material will be moved to an external site, with results expected in March, according to the filing.

Shares fell 20% in morning trade Friday.