Terra Metals (ASX:TM1) has intersected a thick titano-magnetite reef layer from 132m to 190m, representing the thickest reef encountered to date within the Dante Project in Western Australia, while three drill rigs are running simultaneously.
The latest intercept, from the Southwest prospect, occurs within a corridor where 5.2km of new reef strike has recently been mapped, which expands the prospective strike.
Phase three drilling, which is ongoing, aims to advance the strike and depth continuity of previously identified mineralisation as well as search for new discoveries across the Jameson Layered Intrusion and test undrilled parallel reef structures.
CEO Thomas Line says this is just the beginning and only the first week of a drilling program.
“We have a large pipeline of high-priority targets still to be drilled, and with less than 10% of the strike tested so far, the potential for further discoveries is immense,” Line says.
“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.”
Terra, which has a market capitalisation of $71.9 million, says the new results come shortly after delivering a maiden 148 million tonnes resource estimate and provides immediate growth momentum as phase three progresses.
As previously reported, Terra recently conducted an institutional placement to raise $15 million which will fund further exploration across Dante.
Petra Capital is acting as the lead manager and bookrunner for this placement, with support from shareholders privately held Golden Energy and Resources (GEAR), M Resources Founder Matt Latimore, and Tribeca Investment Partners.
The Southwest prospect is a newly defined 12km2 target area within Dante.
Terra Metals is a mineral explorer focused on the Dante Project which has the potential to host large sulphide deposits containing copper, gold, platinum group elements, vanadium and titanium.
The company will be attending this year’s Noosa Mining Investor Conference, held between 12-14 November 2025, at the Peppers Noosa Resort. Mining.com.au is a media partner for this year’s event.
Write to Aaliyah Rogan at Mining.com.au
Images: Terra Metals
