Formerly known as GCX Metals, Terra Metals adopted its new name...

Formerly known as GCX Metals, Terra Metals adopted its new name to reflect its pivot towards critical minerals with a focus specifically on the flagship Dante copper-PGE-gold-nickel project in WA’s West Musgrave region.
Dante is surrounded by majors including one of the largest copper and nickel sulphide discoveries in recent times – BHP’s (ASX:BHP) $1.7bn, 390Mt Nebo-Babel nickel-copper-PGE project that is currently under construction.
The project also happens to have geology similar to Chalice Mining’s (ASX:CHN) Julimar-Gonneville deposit as well as South Africa’s Bushveld region, the world’s largest source of PGEs with over 2 billion ounces of platinum, palladium and gold along with large base metal deposits and very large vanadium-titanium deposits.
Line pointed out that both the Bushveld and Dante are large, layer entrusions which produce reefs that are often enriched in precious metals.
Each layer within the layered intrusion can contain different enrichments in large deposits of different metals, though the most prominent are the precious metals, platinum, palladium and gold.
Where the two areas differ is that where the average reef at Bushveld is about 80cm thick, Dante has reefs outcropping at surface that are sometimes 10-15m thick.
“We have similar geology, we have proven there’s precious metal enrichment amongst other copper as well in these reefs but they appear to be much thicker than we see in the Bushveld,” Line said.
TM1 is currently in the middle of an intensive drilling program at Dante that had grown from an initial 4000m to 7000m before geological observations in the field led to another expansion to 10,000m.
Assays from ~6000m worth of drilling is currently in the lab and are expected to deliver a steady stream of results over the next couple of months.
The company also anticipates that once all the results from the 10,000m program are out on the market, it should be back drilling again.
Additionally, the company will carry out deep diamond drilling at Dante that is co-funded by the WA’s government’s exploration incentive scheme grant to a cap of $245,000.
It has also secured up to $215,000 in co-funding for a high powered EM survey to be flown over the Dante project, which will identify new conductive sulphide targets for drilling.
Both these programs will likely start around June of this year.