Terra Metals hits high-grade magmatic sulphide mineralisation in first 3 holes (of 13) at Crius Reef
Assays are outstanding for 5,000m
TM1 is continuing fully-funded expansive 10,000m drilling program at Dante with further results expected every few weeks for the next 2-3 months
Special Report: The first three holes at Terra Metals Dante project have intercepted magmatic sulphide mineralisation in stratiform ‘reefs’ which outcrop for more than 23km.
Terra Metals (ASX:TM1) Dante project resides in WA’s West Musgrave region, a burgeoning critical minerals district where BHP (ASX:BHP), Rio Tinto (ASX:RIO) and a stack of juniors are unearthing significant nickel, copper and platinum group elements (PGE) deposits.
BHP is in the middle of constructing its $1.7bn, 390Mt Nebo-Babel nickel-copper-PGE project with associated infrastructure that de-risks projects such as TM1’s Dante in terms of logistics.
In March TM1 commenced a maiden drill program at Dante, where it is testing four district-scale targets including the Cronus magmatic copper-gold sulphide target and the Crius, Hyperion, and Oceanus Cu-Au-PGE reefs.
The program was recently expanded to ~10,000m to test targets over more than 14km of strike.
Copper and precious metals associated with sulphide mineralisation
Highlights from the first three holes of drilling at Crius Reef have confirmed the presence of a high-grade polymetallic magmatic sulphide system with hits such as 5m at 0.56% copper, 0.53 g/t PGEs, 0.61% vanadium and 18.5% titanium.
Other stand out results include 5m at 0.30% copper, 0.71 g/t PGEs, 0.71% vanadium and 18.8% titanium from 43m with mineralisation showing similar characteristics to Ivanhoe Mines’ 125Mt Mt Platreef deposit with the addition of bi products.
Magmatic sulphide mineralisation grading 0.94% copper. Pic: Terra Metals
Multiple stacked reefs have also been identified, indicating the potential for duplication of the stratiform reef layers along strike.
Meanwhile, the first five reverse circulation (RC) holes at the Cronus prospect have validated OD6’s exploration model with extensive shallow magmatic copper, gold and palladium mineralisation intercepted.
Once the results are in for the further 15 holes at Cronus, the technical team will interpret the results and deep diamond drillholes will be planned.
Results at Cronus include 25m at 0.11% copper from 45m, 31m at 0.13% copper from 72m and 67m at 0.12% copper 105m.
Results from first week of drilling
“We have drilled 30 more drillholes covering 10km outcropping strike at the Crius Reef and Hyperion Reef, and the Oceanus Reef remains to be drilled in the coming weeks,” TM1 managing director and CEO Thomas Line says.
“We have been drilling for almost two months now, and these results represent only the first week worth of drilling at Dante.
“Our observations on the ground are highlighting the immense scale of the Crius Reef, the multiple developing copper opportunities at the Dante Project, and the similarities of the Dante Project to the Bushveld Complex, delivering a rare combination of grade, thickness, geometry and scale, with potential significant vanadium and titanium bi-product credits.”
More drilling underway
To date, TM1 has drilled 45 drillholes as part of the program.
Assays are expected in the next 2-4 weeks from an additional 10 holes at Crius covering 3km of strike, with all drill fences intercepting reef.
Drilling continues with a further 16 planned holes remaining to be drilled at the Cronus magmatic copper-gold prospect and the Oceanus Reef.
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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