Terra Metals Reports Strong Copper-Gold-PGM Results at Dante Project
TM1 (TM1) Share Update November 2024 Monday 11th
Terra Metals Expands Mineralized Zone at Dante Project with Promising Drill Results
Terra Metals Limited (ASX: TM1) has reported promising results from its Phase 1 diamond drilling at the Dante Project in Western Australia, significantly expanding the mineralized zone at Reef 1 North.
Instant Summary:
- Phase 1 diamond drilling at Reef 1 North shows consistent copper, gold, and PGM intersections.
- Mineralized zone widened by over 100m, covering approximately 20km of strike.
- Phase 2 reverse circulation drilling completed with results pending from over 50 new drillholes.
Drilling Results
The recent Phase 1 diamond drilling at Terra Metals' Dante Project has yielded consistent and high-quality intersections of copper, gold, and platinum group metals (PGMs) across all eight drillholes. These results reinforce the continuity of mineralization and suggest the potential for a large sulphide deposit containing copper, gold, PGMs, vanadium, and titanium.
Key intersections include 5.8 meters at 0.34% copper, 0.31g/t gold, 0.54g/t PGM, 0.80% V2O5, and 22.2% TiO2 from 24 meters in drillhole UDH008, and 5.5 meters at 0.32% copper, 0.27g/t gold, 0.50g/t PGM, 0.69% V2O5, and 19.9% TiO2 from 132 meters in drillhole UDH004.
Expansion of Mineralized Zone
The results have expanded the mineralized footprint by more than 100 meters at Reef 1 North, now defined over approximately 20 kilometers of strike. This expansion increases the potential for additional exploration upside, with such a long striking stratiform deposit.
Future Exploration
Terra Metals has completed Phase 2 reverse circulation drilling targeting shallow copper-gold-platinum mineralization at Reef 1 North, with results from over 50 new RC drillholes expected progressively over the coming weeks and months. Assays from a further nine diamond holes drilled at Reef 2 are also expected soon.
The expansion of the mineralized zone at the Dante Project is a positive development for Terra Metals, potentially increasing the project's value and attractiveness to investors. The consistent drill results suggest a robust mineral system, which could lead to further resource upgrades and increased investor interest.
Investor Reaction:
Investors and analysts are likely to view these results favorably, as they indicate the potential for significant resource growth at the Dante Project. The market may react positively as more results are released, especially if they continue to show strong mineralization.
Conclusion:
Investors should keep a close watch on Terra Metals as it releases further drilling results in the coming weeks. The company's strategic exploration efforts at the Dante Project could lead to substantial resource upgrades, making it an attractive investment opportunity in the mining sector.