Terra Metals Ltd (ASX:TM1) has delivered a strong start to its resource upgrade and expansion campaign at the Dante Project, reporting a suite of thick, continuous copper–titanium–vanadium–PGE–gold intervals from previously undrilled areas of Reef 2 (Hyperion).
The first batch of assays confirms near-surface mineralisation from multiple drillholes and reinforces the potential to grow both scale and confidence in the existing 148 million tonne (Mt) August 2025 Mineral Resource Estimate (MRE).
Central Dante Project, showing the location of the August 2025 Dante MRE geology model (Reef 1-Crius + Reef 2-Hyperion). Also shown is the nearby Southwest Prospect, Reef 5, and Cronus Prospect in the NE.
Managing director and CEO Thomas Line said the new results highlight a system that “continues to exceed even our highest expectations”.
“These latest results confirm that we are defining a truly global-scale critical minerals system containing large volumes of copper, PGEs, gold, titanium and vanadium, all supported by exceptionally strong metallurgy,” Line said.
The thickness, continuity and metal tenor of these reefs over kilometres of strike demonstrate that Dante is not a typical exploration story — it is an emerging multi-commodity district in its own right,” he added. “The system is large, laterally extensive and consistently mineralised from surface, with outstanding potential still to be drilled.”
Location of the outcropping magnetite reefs and drill holes overlaying regional aeromagnetic data (AMAG) displayed using a pseudo-colour spectrum.
Thick, high-grade mineralisation reinforced across 6.2 km strike
Reef 2 is a key component of Dante’s existing resource, hosting stratiform, shallowly dipping mineralised horizons mapped for more than 6.2 kilometres at surface. The unit remains open along strike and down dip.
Significant new intersections (downhole lengths) include:
- 28m at 0.76% CuEq from surface, including 4m at 2.28% CuEq (HRC047)
- 25m at 0.85% CuEq from 22m to end-of-hole, including 3m at 2.39% CuEq (HRC035)
- 25m at 0.83% CuEq from 21m, including 4m at 2.00% CuEq (HRC046)
- 45m at 0.70% CuEq from 19m to end-of-hole, including 4m at 1.58% CuEq (HRC050)
Additional intervals up to 24–26 metres thick, all beginning near surface, further confirm continuity across previously undrilled gaps.
New Reef 2 (Hyperion) drill holes and assay results relative to the location of the MRE overlaying regional aeromagnetic data (AMAG) displayed using a pseudo-colour spectrum.
Terra says the results validate its interpretation of a large-scale sequence of mineralised reef layers, with geological similarities to the Bushveld Complex.
Phase 3 drilling wraps with 21,000m completed
The 2025 drilling campaign is now finished, totalling 21,678 metres, including:
- 10,347m across 120 drillholes within the Dante MRE footprint (Reefs 1 and 2), and
- 11,331m across 62 drillholes at the Southwest Prospect.
At Southwest, drilling has intercepted broad Ti–V–Fe–Cu–Ni–Co magnetite–sulphide reefs up to 59 metres thick, along with zones of disseminated to massive magmatic sulphides.
A comprehensive PQ diamond program has also delivered more than 40 tonnes of core for metallurgical optimisation, beneficiation studies and geotechnical analysis — work expected to feed into a planned MRE update in early 2026.
Assays remain pending for around 110 drillholes, including further results from Reefs 1 and 2 and additional sulphide-rich zones at Southwest.
Consistent architecture supports resource growth potential
New drilling continues to confirm the predictable stratigraphy of the Dante Reefs, with mineralisation hosted in Upper and Basal Reef units dipping 20–30° and traceable for kilometres from surface.
Importantly, infill drilling at Reef 2 has linked previously untested gaps, demonstrating uninterrupted mineralisation and strengthening the case for future resource conversion.
Metallurgical work to date supports the potential for three high-grade concentrates — a Cu–Au–Pt–Pd sulphide concentrate, a TiO₂ ilmenite product and a vanadium-rich magnetite product — all feeding into Terra’s CuEq reporting framework.
With a district-scale intrusive complex, expanding tenement position and hundreds of kilometres of prospective stratigraphy yet to be tested, Terra Metals says the broader discovery potential across Dante remains substantial.
“What is most compelling is the reliability of the geology — every round of drilling continues to add tonnage potential, grade and metal content, and we have only tested a fraction of the broader system,” Line said.
“Dante is rapidly becoming a globally significant discovery for Terra Metals and for the West Musgrave region, and our confidence in the long-term value of this project has never been stronger.”
Location of the company’s Dante Project tenure, overlying the geology map of the West Musgrave Region.