Terra Metals Ltd has made significant progress at its Dante polymetallic project in Western Australia, completing metallurgical testwork and advancing exploration activities during the March 2025 quarter.
Terra achieved notable milestones across metallurgical, exploration and corporate fronts.
Dante Project location map displaying surrounding companies’ tenure and major deposits.
The company successfully completed Phase 1 metallurgical testwork, producing three high-grade concentrates through simple, low-cost processing methods. A copper-gold-platinum group metals (Cu-Au-PGM) sulphide concentrate was produced, grading 28.0% copper, 17 grams per tonne (g/t) gold and 21.4 g/t PGM, with recovery rates of 95.8% for copper, 75.8% for gold and 74.4% for PGMs.
A titanium-ilmenite concentrate grading 40% titanium dioxide (TiO₂) was achieved using magnetic separation, demonstrating potential for competitive production of high-value titanium products.
In parallel, vanadium-magnetite concentrate grading 1.81% vanadium pentoxide (V₂O₅) was also produced using magnetic separation, delivering a recovery rate of 91% and highlighting its viability as a future vanadium source.
Exploration activities delivered strong results, with infill drilling confirming the continuity of high-grade titanium-copper-gold-platinum-vanadium mineralisation from surface at both Reef 1 and Reef 2. Importantly, drilling at Reef 1 North extended the mineralised strike by a further 1.2 kilometres, bringing the total to approximately 4.2 kilometres.
To support future growth, Terra secured a 12-month exclusive option over a 618 square kilometre tenement package contiguous with the Dante Project. The strategic acquisition increases TM1’s footprint within the Jameson Layered Intrusion and offers potential extensions to the Dante Reefs system.
Building on these results, TM1 has now initiated its maiden Mineral Resource Estimate and advanced to Phase 2 metallurgical optimisation testwork, further positioning the Dante Project for future development.
Terra ended the quarter with A$1.2 million in cash. While this equates to approximately one quarter of funding at current outflows, the company anticipates a reduction in near-term exploration costs and continues to assess options for future capital raising to support ongoing project development.
High-grade concentrates produced using low-cost methods
TM1 produced three high-grade concentrates from Dante Reefs ore through simple, low-cost processing.
As mentioned above copper-gold-platinum group metals (Cu-Au-PGM) sulphide concentrate graded 28.0% copper, 17 grams per tonne (g/t) gold, and 21.4 g/t PGMs, with recoveries of 95.8% copper, 75.8% gold, and 74.4% PGMs.
A vanadium-magnetite concentrate graded 1.81% vanadium pentoxide (V₂O₅) with 90.9% recovery, and a high-purity titanium-ilmenite concentrate at 40% titanium dioxide (TiO₂) was also produced.
Meanwhile, infill drilling at Reef 1 and Reef 2 confirmed the continuity of high-grade titanium-copper-gold-platinum-vanadium mineralisation from surface. At Reef 1 North, drilling extended the mineralised strike by 1.2 kilometres to a total of 4.2 kilometres. Notable intercepts included 23.7% TiO₂, 1.07 g/t PGMs, 0.36% copper, and 0.91% V₂O₅.
TMI image showing prospects in the western portion of Dante Project Reef 1 and Reef 2 discoveries with new, previously reported, and pending results.
Maiden resource estimate and optimisation studies underway
The company started work on a maiden Mineral Resource Estimate for the Dante Reefs discovery. Phase 2 metallurgical optimisation is also in progress, aiming to enhance recoveries and concentrate grades to support future development planning.
Strategic tenement acquisition expands project footprint
During the quarter, Terra also secured a 12-month exclusive option to acquire 100% of HRM Exploration Pty Ltd, holding four contiguous exploration licences covering 618 square kilometres.
The tenure lies adjacent to the Dante Project within the Jameson Layered Intrusion, enhancing potential extensions of known mineralisation.
Southern Cross and Onslow Projects remain under review
Activity at Terra’s Southern Cross and Onslow Projects was limited to desktop studies and partner discussions, with divestment or joint venture options under consideration to prioritise Dante development.