Terra Metals Ltd (ASX:TM1, OTC:PNGZF) managing director and CEO Thomas Line talks about the launch of Phase 3 drilling at the 100%-owned Dante Project in Western Australia.
The new campaign follows the company’s maiden Mineral Resource Estimate (MRE) of 148 million tonnes and is designed to expand the resource at Reef 1 and Reef 2, while also testing new targets across the broader Jameson Layered Intrusion.
Line said: “This program is designed to expand the existing Mineral Resource at Reef 1 and Reef 2, while also drill-testing new targets that demonstrate the scale of the Dante system.” He added that the company is well funded following a recent A$15 million placement backed by GEAR, Tribeca Investment Partners, and Matt Latimore.
Drilling will focus on three key areas: expanding strike and depth at known reefs, testing new magnetic and geochemical anomalies, and targeting parallel reef structures that remain largely untested. Terra Metals noted that less than 10% of the strike has been explored to date.
The company’s maiden MRE, announced in August 2025, includes 148 Mt at 14.8% titanium dioxide, 0.54% vanadium pentoxide, 0.18% copper and 0.33 g/t 3PGE, equating to 1.38% copper equivalent. A higher-grade indicated component of 38 Mt was also defined.
The Dante Project is located within the Jameson Layered Intrusion, part of the West Musgrave region. The mafic-ultramafic system hosts outcropping, shallow-dipping mineralised reefs comparable in style to South Africa’s Bushveld Complex.
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