Terra Metals extends Dante discovery strike by 11km

Reef 1 South assay results confirm an 11.2km extension of the Dante Reefs discovery strike
Further samples have been despatched and are expected to extend the mineralised zones
Diamond drilling continues at the Reef 1 North and Reef 2 discoveries

Special Report: Results from maiden wide-spaced reconnaissance drilling at the Dante project has more than doubled the initial discovery strike of Dante Reefs.

Terra Metals (ASX:TM1) is spelunking for copper, platinum group elements (PGEs), vanadium and titanium at the Dante project in WA’s West Musgrave region.

With reefs mapped to outcrop for at least 42km of strike, and most remaining undrilled, the company believes it’s the first copper-PGE sulphide discovery of its kind in Australia.

The reefs themselves are about 10m thick, with a high-grade basal layer of about 5m, and situated only ~15km from BHP’s $1.7 billion Nebo-Babel mine development and the 160Mt Succoth deposit.

Collectively, the West Musgrave region hosts more than two and a half million tonnes of copper and comes with the added bonus of major de-risking by BHP, which intends to develop processing facilities, a tailings storage facility, accommodation, airstrip and power infrastructure.

Drilling results highlight Dante’s scale

The latest drilling results continue to showcase the scale of the Dante Reefs discovery.

Reef 1 South assay results confirm an 11.2km extension of the Dante Reefs discovery strike with highlights from partial sampling including:

17m at 0.12% copper, 0.21g/t PGE3, 0.28% vanadium and 9.4% titanium oxide from 31m;
2m at 0.30% copper, 0.44g/t PGE3, 0.53% vanadium oxide and 17.2% titanium oxide from 165m; and
5m at 0.19% copper, 0.47g/t PGE3, 0.63% vanadium oxide and 15.3% titanium oxide from 41m.

Samples remain outstanding across mineralised zones for all 10 holes at Reef 1 South, which are expected to extend the reported basal layer and hanging wall mineralised zones in multiple holes.

Large system at Cronus

Meanwhile additional assays at the Cronus prospect continue to show extensive shallow magmatic copper, gold and palladium sulphide mineralisation, further confirming a large copper-PGE sulphide system.

Standout results include 209m at 0.11% copper and 68.5ppm cobalt from 3m, 53m at 0.15g/t PGE3 and 70ppm cobalt from 67m, as well as 116m at 0.14g/t PGE3 and 68.6ppm cobalt from surface.

Exciting scale and potential

“It’s extremely promising to see the same magmatic copper-PGE sulphide mineralisation already seen at Reef 1 North and Reef 2, at Reef 1 South, 11.2km along strike from the Reef 1 discovery,” TM1 managing director and CEO Thomas Line says.

“It is also exciting to consider the scale and potential of other outcropping reefs and other interpreted under-cover reefs across the project, which remain undrilled.

“Based on visual observations, several of the mineralised zones reported here are expected to be extended along with some possible new mineralised zones, when further results are received,” he says.

Prospects in the western portion of the Dante project. Pic: Terra Metals

“Further results from Cronus prospect continue to support the prospectivity of the intrusion. It’s such a large, mineralised intrusion and the geochemistry and stratigraphy is providing strong support and possible vectors for the development of higher-grade copper-PGE sulphides.”

What’s coming up?

TM1 is looking forward to testing some of its developing models at the Cronus prospect using funding from the WA Government under the EIS.

Diamond drilling continues at the Reef 1 North and Reef 2 discoveries, with preparations for infill and extensional reverse circulation (RC) drilling progressing.

Further samples have been despatched and are expected to extend the mineralised zones.

Complete intercepts will be reported in due course.

This article was developed in collaboration with Terra Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.