Terra Metals drilling shows copper-PGE reefs at Dante similar to South Africa’s Bushveld province
Bushveld contains the world’s largest reserves of platinum group elements
Dante Reefs is also just 15km from BHP’s $1.7 billion Nebo-Babel mine development
More assays from the project are pending
Special Report: Terra Metals says early-stage drilling confirms discovery of multiple ‘Bushveld style’ copper-PGE reefs at its Dante project.
Bushveld currently contains the world’s largest reserves of platinum group elements, along with other elements such as chromium, titanium and vanadium, and represents about 75% of the world’s platinum and about 50% of the world’s palladium resources.
The province contains some of the world’s largest, longest running and most profitable PGE, copper, nickel, gold, vanadium and titanium mining operations with over 100 years of ongoing production.
Terra Metals (ASX:TM1) says the latest round of 14 drill holes at its Dante project in WA confirmed multiple Platreef-style copper-PGE reefs only 15km from BHP’s $1.7 billion Nebo-Babel mine development (390Mt at 0.30% Cu, 0.33% Ni, 0.23g/t PGE3).
Best results from the drilling include:
6m at 0.40% Cu, 0.79g/t PGE3, 0.66% V2O5, and 19.9% TiO2 from 4m;
5m at 0.34% Cu, 0.84g/t PGE3, 0.81% V2O5, and 21.2% TiO2 from 21m; and
7m at 0.31% Cu, 0.61 g/t PGE3, 0.71% V2O5, and 20.7% TiO2 from 17m.
Potential for a large, Bushveld-like deposit
Terra Metals says the drilling results to-date confirm that Dante has potential to host a large sulphide deposit containing copper, gold, PGEs, vanadium and titanium.
“We are excited to have discovered multiple Platreef-style copper-PGE sulphide reefs from a first pass-reconnaissance drilling program at the Dante project; the first of its kind in Australia,” managing director and CEO Thomas Line said.
“The discovery of similar style reefs in the Bushveld Province of South Africa has resulted in some of the world’s largest, longest running and most profitable PGE, copper, nickel, gold, vanadium and titanium mining operations with over 100 years of ongoing production.
“The stratiform reefs of the Bushveld average 1 to 2 metres in thickness and require complex underground mining operations; however, their centennial mine life exemplifies how successful these types of deposits can be.
“The 120 million tonne Platreef deposit, which is thicker than the other reefs in the Bushveld, sits 600m beneath the surface requiring immense infrastructure including one of the world’s largest hoist-shaft to extract the ore to the surface.
“The Dante Reefs, however, outcrop from surface over more than 40km of strike, with a gentle dip and an average thickness of approximately 10 metres with a higher-grade basal reef layer, and a second, upper reef layer of lower grade but similar thickness.”
Pic: Typical black-coloured, heavy magmatic sulphide mineralisation at the Dante Reefs, Source: TM1.
More assays pending
Notably, the copper-PGE mineralisation includes high-grade vanadium and titanium, critical for renewable batteries and specialty steel.
Conventional metallurgical tests have commenced, with assays from 16 drill holes still outstanding from a further 4.5km of strike at Reef 2.
The company anticipates publishing an initial exploration target for Reef 1 in the near future and will commence mapping to the east of the project, where further reefs are interpreted.
“Our next step is to continue to replicate these results over the extensive strike at the Dante Reefs, ensuring we are well positioned for success,” Line said.
“It’s clear that there is a concentration and combination of high value metals within the same layers in the Dante Reefs.
“Our highly experienced metallurgical team, led by Dr. Evan Kirby, have already commenced initial metallurgical test work, focusing on the application of conventional flowsheets.
“This is just the beginning of the discovery story at the Dante Project, where the vast majority of targets and strike remain undrilled. New insights at the Cronus Prospect are highlighting possible vectors for higher-grade magmatic sulphides.
“We look forward to presenting these along with further assays in the coming weeks.”
This article was developed in collaboration with Terra Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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