Terra Metals Ltd (ASX:TM1, OTC:PNGZF) has unveiled a maiden mineral resource estimate (MRE) for its 100%-owned Dante Project in Western Australia’s West Musgrave region, confirming a globally significant titanium-vanadium-copper-platinum group element (PGE) system just 12 months after discovery.
The MRE totals 148 million tonnes at 14.8% titanium dioxide (TiO₂), 0.54% vanadium pentoxide (V₂O₅), 0.18% copper (Cu) and 0.33 g/t 3PGE (1.38% copper equivalent), containing an estimated 22 million tonnes (Mt) of TiO₂, 800,000 tonnes of V₂O₅, 270,000 tonnes of copper and 1.6 million ounces of 3PGE (400,000 ounces gold, 880,000 ounces platinum and 330,000 ounces palladium).
Location of the outcropping magnetite reefs relative to the location of the MRE and drill holes overlaying regional aeromagnetic data (AMAG) displayed using a pseudo-colour spectrum.
Within that, the high-grade Indicated resource of 38Mt @ 18.4% TiO₂, 0.73% V₂O₅, 0.23% Cu and 0.72 g/t 3PGE (1.87% CuEq) hosts 7Mt TiO₂, 280,000t V₂O₅, 90,000 tonnes Cu and 870,000 ounces 3PGE. The resource area covers less than 10% of the mapped mineralised trend, with mineralisation open along strike and at depth.
‘Exceptional result’ within a year
The MRE, prepared by Pivot Mining Consultants’ Ken Lomberg, comes at a discovery cost of just A$0.07 per tonne, reflecting the system’s near-surface continuity and scale.
“Our maiden mineral resource confirms Dante as a globally significant critical metals discovery — and to achieve it within just 12 months, at a very low discovery cost per tonne of resource, is an exceptional result,” Terra Metals managing director and CEO Thomas Line said.
“Not only have we exceeded our previous exploration target, but the quality of the mineral system — its scale, near-surface continuity, metallurgical performance and growth potential — positions Dante as a strategic, long-life critical metal asset on a global scale.
“With Phase 3 drilling about to commence and the mineral system remaining wide open, we see a clear path to rapid, low-cost resource growth and potential further discoveries across this vast, underexplored province.”
Globally comparable geology
The Dante Project lies within the Jameson Layered Intrusion, part of the Giles Intrusive Complex — a mafic-ultramafic system comparable in style to South Africa’s Bushveld Complex, host to some of the world’s largest PGE and vanadium-titanomagnetite deposits.
Three deposits — Reef 1 North (Crius), Reef 2 (Hyperion) and Reef 1 South (Oceanus) — make up the initial resource, representing about 12.6 kilometres of shallow-dipping stratiform magnetite reefs containing copper, PGEs, titanium and vanadium. More than 17,000 metres of reverse circulation and diamond drilling informed the estimate, with most mineralisation starting from surface and extending to 250 metres depth.
Inset showing location of the outcropping magnetite reefs relative to the location of the MRE and drill holes overlaying regional aeromagnetic data (AMAG) displayed using a pseudo-colour spectrum.
Strong metallurgy supports economics
Initial metallurgical test work, overseen by metallurgist Dr Evan Kirby and completed at ALS Laboratories, achieved strong recoveries, including 95.8% for copper, 90.9% for V₂O₅, 65.6% for TiO₂, 74.4% for PGEs and 75.8% for gold.
Processing produced three high-grade concentrates:
- Copper-PGE-gold sulphide concentrate grading 28% Cu, 17 g/t Au and 21.4 g/t PGM
- Titanium-ilmenite concentrate
- Vanadium-magnetite concentrate
No deleterious elements were detected in the sulphide concentrate, underscoring the project’s commercial potential.
Funded for growth
Terra Metals is well-funded following a $4 million strategic placement to Golden Energy and Resources (GEAR) and Matt Lattimore, covering all planned drilling, reconnaissance and metallurgical work.
Next steps include the imminent start of Phase 3 drilling to infill and extend resources at Crius, Hyperion and Oceanus reefs, while also testing new targets along the broader Dante trend. Metallurgical optimisation is under way to support future scoping and feasibility studies, and high-resolution airborne magnetics is planned over the newly acquired Dante West tenements.
A discovery with scale
The Dante Reefs extend over a 20-kilometre strike, with recent tenement acquisitions expanding potential strike length to more than 80 kilometres. Hundreds of kilometres of prospective stratigraphy remain to be tested, giving the company confidence in the long-term growth potential of the project.
Given the system’s size, open extensions and multi-metal content, Terra Metals sees Dante as a long-life, strategic asset aligned with global demand for critical and battery metals.