Terra Metals Ltd (ASX:TM1, OTC:PNGZF) has fielded further strong assay results from its Dante Reefs discovery in Western Australia, confirming consistent Bushveld-style mineralisation of copper, gold, platinum group metals (PGMs), titanium and vanadium from surface.
Scale and continuity
The latest results demonstrate the scale and continuity of the discovery and point to its potential to host a significant sulphide deposit in the low-risk West Musgrave region.
“The first lot of infill drilling at Reef 1 continues to reinforce our thesis and build our confidence in the continuity, scale and significance of the Dante Reefs discovery,” managing director and CEO Thomas Line said.
Highlights
Some of the results from phase one diamond drilling include:
- 7.7 metres at 0.27% copper, 0.67 g/t PGE3, 18.4% titanium and 0.68% vanadium from 86 metres including 1.9 metres at 0.42% copper, 1.01 g/t PGE3, 26.5% titanium and 0.91% vanadium from 88.5 metres and 1.7 metres at 0.39% copper, 1.21 g/t PGE3, 24.2% titanium and 0.97% vanadium from 92 metres.
Results from phase two RC infill drilling include:
- 5 metres at 0.86 g/t PGE3, 0.26% copper, 19.2% titanium and 0.78% vanadium from 12 metres including 3 metres at 1.28 g/t PGE3, 0.24% copper, 21.6% titanium and 0.93% vanadium from 14 metres;
- 6 metres at 0.26% copper,16.01% titanium, 0.36 g/t PGE3 and 0.48% vanadium from 134 metres including 4 metres at 0.32% copper, 20.04% titanium, 0.51 g/t PGE3 and 0.64% vanadium from 136 metres; and
- 7 metres at 0.78 g/t PGE3, 22.7% titanium, 0.18% copper and 0.88% vanadium from surface including 3 metres at 0.29% copper, 25.1% titanium, 0.44 g/t PGE3 and 0.73% vanadium from 1 metre and 3 metres at 1.28 g/t PGE3, 21.6% titanium and 1.12% vanadium from 4 metres.
The company has good reason to hope that pending assays from an additional 68 drill holes, including 60 reverse circulation (RC) and eight diamond drill holes, will expand the resource further.
Bushveld resemblance
The Dante Reefs, part of the Jameson Layered Intrusion, are geologically analogous to South Africa’s famous Bushveld Complex, the world’s largest source of PGMs, vanadium and chromite.
The similarities have given the company confidence in the area’s vast potential for critical minerals on a global scale.
Accordingly, it is forging ahead with metallurgical test work, with updates expected in 2025, while exploration remains focused on proving the size and scale of the discovery.
“The Dante Project continues to deliver consistent Bushveld-style reef mineralisation containing significant copper, gold, platinum group metals, and high-grade titanium and vanadium in a tier-1 mining jurisdiction,” Line said.
“We will continue methodically executing our exploration program to prove the size and scale of the Dante Reefs discovery.”