Terra Metals Ltd (ASX:TM1) has intersected its thickest reef to date at the Dante Project in Western Australia, confirming a 58-metre interval of titano-magnetite mineralisation at the new Southwest Prospect.
The intercept, logged visually between 132 metres and 190 metres in hole SWRC008, comes within a newly mapped corridor where 5.2 kilometres of reef strike has been defined. Terra said the discovery validates its strategy of targeting thicker reef zones across the Jameson Layered Intrusion, a system the company believes has district-scale potential.
RC chip piles showing 58m thick intercept of titano-magnetite reef mineralisation from SWRC008. Each sample pile = 1m, each sample row = 30m.
Drilling momentum builds
The result marks a strong start to Phase 3 drilling, with three rigs — two reverse circulation and one diamond — now operating simultaneously across the Dante Project. Numerous high-priority targets remain to be tested at Southwest and across the broader intrusion.
Location of new SW4 target, within the broader Southwest Prospect area. Also shown are electromagnetic (“EM”) anomalies (Geotem – coloured stars, Spectrum – Red /Yellow circles).
Assay results for the new intercept are expected within six weeks, while drilling continues to probe additional electromagnetic anomalies, ultramafic horizons and parallel reef systems. To date, less than 10% of the Dante strike has been drilled, leaving significant scope for further discoveries and resource expansion.
“Intersecting 58 metres of magnetite reef mineralisation — the thickest ever drilled at Dante — is an outstanding achievement for our team and a clear validation of our exploration strategy,” managing director and CEO Thomas Line said.
“Importantly, this is just the beginning, and only the first week of a drilling program. With less than 10% of the strike tested so far, the potential for further discoveries is immense,” he added. “Dante continues to prove itself as a district-scale system of global significance, and with strong institutional backing, we are in an excellent position to accelerate drilling and unlock the full potential of this world-class project.”
Cross section showing magnetite reef intercepts, based on visual observations of the drill samples.
Southwest emerges as key growth area
The Southwest Prospect is fast emerging as one of the most prospective parts of Dante. Covering about 12 square kilometres, it hosts newly mapped reef extensions, high-ranking electromagnetic anomalies and strong geochemical signatures, including one of the highest platinum group metal anomalies recorded on the project.
Historical datasets also point to semi-massive sulphides and nickel-copper-cobalt mineralisation associated with vanadium-titanium reef-style systems. Terra’s recent drilling has confirmed ultramafic and sulphide-rich geology, strengthening the case for multi-commodity mineralisation similar to South Africa’s Bushveld Complex.
The company believes the combination of mapped reef, strong anomalies and sulphide potential makes Southwest a cornerstone growth target within Dante, complementing the 148-million-tonne maiden mineral resource estimate delivered earlier this year.
Dante Project location map displaying surrounding companies’ tenure and major deposits.
Well funded for growth
Backed by a $15 million placement in August — led by Golden Energy and Resources (GEAR), Tribeca Investment Partners and Matt Latimore — Terra remains fully funded to advance drilling, metallurgical test work and further resource definition.
With thick intercepts already confirmed and a pipeline of untested targets still ahead, the company said Dante is shaping as a district-scale, globally significant critical metals system.