Terra strikes 58m titano-magnetite reef, thickest yet at Dante

• Drilling at Terra Metals’ Southwest prospect intersects 58m-thick reef layer at Dante 
• The intercept expands the prospective strike at the asset 
• Phase 3 drilling is ongoing with high priority targets still to be tested 

Special Report: Drilling at Terra Metals’ Southwest prospect has revealed a 58m titano-magnetite reef from 132m, marking the thickest reef hit so far at the Dante project. 

The intercept, for which assays are pending, lies within a newly mapped 5.2km reef corridor, expanding the project’s scale and potential, and confirming Terra Metals’ (ASX:TM1) strategy of targeting thicker and higher-grade portions of reef mineralisation. 

At the new SW4 target, drill hole SWRC008 was designed to hit two parallel NW-SE magnetic anomalies, one roughly 400m long to the southwest, and the other about 200m long to the northeast. 

The hole intersected multiple magnetite-rich reef zones that line up with the aeromagnetic anomalies, with the most significant hitting from 132m down to 190m.

Drilling also encountered ultramafic and sulphide-rich rocks at the Southwest prospect, reinforcing the geological model and highlighting the potential for copper, gold, PGM, nickel, cobalt, vanadium and titanium mineralisation.

The best is yet to come 

These initial results follow the maiden 148Mt resource estimate and give phase 3 drilling an immediate boost.

The program is still in its early days, with many high-priority targets at the Southwest prospect and across the wider Jameson Layered Intrusion yet to be tested.

With less than 10% of the strike drilled so far, TM1 believes the potential for more discoveries and a major resource expansion is very promising.

Background on Dante 

Dante, in WA’s West Musgrave region, hosts a globally significant, multi-metal discovery within the Jameson Layered Intrusion, part of the Giles Complex, a mafic-ultramafic system comparable in scale and style to South Africa’s Bushveld Complex.

The Dante Reefs, discovered in 2024, represent three large-scale, stratiform titanium-vanadium-copper-PGE reefs extending over a 20km strike length, with mineralisation starting from surface and extending to depths of 250m+. 

More than 17,000m of drilling has defined extensive, shallowly dipping, mineralised layers similar to the magnetite layers of the Bushveld Complex with recent tenement acquisitions extending the strike potential to over 80km. 

A pipeline of targets to drill 

TM1 managing director and CEO Thomas Line said intersecting 58m of magnetite reef mineralisation, the thickest ever drilled at Dante, was an outstanding achievement and a clear validation of the company’s exploration strategy. 

“Importantly, this is just the beginning, and only the first week of a drilling program,” he said. 

“We have a large pipeline of high-priority targets still to be drilled, and with less than 10% of the strike tested so far, the potential for further discoveries is immense. 

“Dante continues to prove itself as a district-scale system of global significance, and with strong institutional backing, we are in an excellent position to accelerate drilling and unlock the full potential of this world-class project.” 

Thanks to a strong $15 million cash injection, Terra Metals is fully funded to keep drilling, progress metallurgical studies and expand its resource. 

Three drill rigs are spinning simultaneously across the project, including two RC rigs and one diamond. 

This article was developed in collaboration 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.