Australian mineral exploration company Terra Metals Ltd (ASX:TM1, OTC:PNGZF) has trained its sights on the riches of Western Australia with a portfolio spanning critical minerals and base and precious metals such as copper, gold, platinum group elements (PGEs), vanadium, titanium and lithium.
Terra’s diversified portfolio spans the commodities vital for the renewable energy transition at a time when unfettered supply chains that leverage tier-1 jurisdictions are critical for these resources.
And it has access to some of the most promising geology in Australia – the company’s flagship Dante Project has drawn comparisons to South Africa's globally renowned Bushveld Complex, one of the world’s most significant layered mafic intrusions.
Dante: "The Bushveld in Australia"
The Dante Project is in the West Musgrave region of Western Australia and covers an expansive 650 square kilometres.
It’s in the vicinity of BHP’s Nebo-Babel mine and the Succoth deposit, which are just 15 kilometres down the road.
The project consists of layered mafic intrusions hosting Platreef-style copper-PGE sulphide reefs – a similar geology to the Bushveld Complex – a geological structure with more than 100 years of production history.
The Bushveld Complex is the world’s largest layered mafic intrusion, hosting significant deposits of PGEs, copper, nickel and gold.
Its key resources include the Merensky Reef, UG2 Reef and the Platreef, which together account for vast quantities of mined metals.
Similar geology; better access
Terra’s Jameson Layered Intrusion at Dante shares similar geological characteristics, making it one of only a handful of these large, layered mafic intrusions in the world and a first-of-its-kind exploration target in Australia.
Even better for Terra, the reefs of the Bushfeld Complex are generally 0.5 to 2 metres thick and are almost exclusively complex underground operations, while the reefs at Dante are much thicker – an average of 5 to 10 metres – and shallow dipping.
The tendency to outcrop from surface also points to a potential for a low-cost open cut mining scenario.
At Dante, multiple copper-PGE-gold reefs have been identified along a 20-kilometre strike length.
Reconnaissance drilling has been highly successful, with 39 out of 40 holes delivering reef mineralisation.
The company’s current exploration focus is trained on the cost-effective shallow mineralisation, with heritage surveys underway to enable further drilling across untested reef targets.
Recent results
In November, assays reinforced the continuity of mineralisation and the potential for the project to host a large sulphide deposit containing copper, gold, PGMs, vanadium and titanium.
Assays from a phase one diamond drill campaign included results such as:
- 5.8 metres at 0.34% copper, 0.31 g/t gold, 0.54 g/t PGM, 0.80% vanadium, 22.2% titanium from 24 metres including 1.8 metres at 0.43% copper, 0.39 g/t gold, 0.80 g/t PGM, 0.95 vanadium and 25.0% titanium from 28 metres; and
- 5.5 metres at 0.32% copper, 0.27 g/t gold, 0.50 g/t PGM, 0.69% vanadium, 19.9% titanium from 132 metres including 2 metres at 0.51% copper, 0.41 g/t gold, 0.41 g/t PGM, 0.73% vanadium and 23.7% titanium from 134 metres.
“These new results show dominance of copper, gold and platinum, and continue to build our confidence in the continuity and scale of this unique, Bushveld-Style reef deposit,” managing director and CEO Thomas Line said.
“Adding 100 metres of width to the mineralised zone increases the potential for additional exploration upside with such a long striking stratiform deposit.
“Interestingly, a copper:gold ratio of almost 1 to 1 has been noted in the basal reef in the recent results, suggesting the potential for higher grade gold to follow higher grade copper.”
Onslow Copper-Gold Project
The Onslow Copper-Gold Project, in the Pilbara region, spans 567 square kilometres and is prospective for banded iron formation-hosted gold and iron-oxide copper-gold systems.
Historical drilling largely overlooked the Proterozoic basement, which remains underexplored.
Recent assays from diamond drilling revealed high-grade silver mineralisation, including 6 metres at 179 g/t silver, with a standout intersection of 1 metre at 1,060 g/t silver, 0.23% copper and 0.99% tungsten.
This mineralisation is associated with a high-sulphidation epithermal alteration system, potentially linked to a deeper porphyry source.
Airborne electromagnetic (EM) data highlights a Priority 1 anomaly southeast of the find, with dimensions of 600 metres long, 120 metres thick and 120 metres downdip – which all points to the considerable potential for further discoveries.
Southern Cross Lithium Project
The Southern Cross Lithium Project, in the Yilgarn region, is prospective for lithium and tantalum within the Gullewa Greenstone Belt.
Recent soil sampling uncovered a 10-kilometre by 2-kilometre lithium anomaly, with assays reaching 171 parts per million (ppm) Li2O.
The anomaly aligns with structural features typical of lithium mineralisation, offering a strong foundation for future exploration.
ESG and Community Engagement
Terra Metals integrates environmental, social and governance (ESG) principles into its operations.
The company maintains strong, respectful and productive relationships with Traditional Owners, ensuring that exploration aligns with community values.
It participates in initiatives that promote the creation of employment opportunities, supporting local education, and providing recreational resources.
These efforts result in improved sustainability and community development while facilitating smoother permitting processes.