Dante Project Expands: Terra Metals Secures Approvals for Extensive Phase 3 Drilling

• Approvals received for infill and extensional drilling at Reef 1 and Reef 2
• New drilling permits granted for multiple untested copper-critical metal targets
• Exploration commenced on recently acquired HRM tenements and vast Dante East area
• Maiden Mineral Resource Estimate preparation underway with site visit scheduled
• Project prospective for copper, gold, platinum group metals, titanium, and vanadium

Phase 3 Drilling Greenlit at Dante

Terra Metals Limited has taken a significant step forward in its exploration campaign by securing all necessary heritage and drilling approvals to commence Phase 3 drilling at its flagship Dante Project in Western Australia's West Musgrave region. This phase targets both infill and extensional drilling at the already promising Reef 1 and Reef 2 copper-critical metal discoveries, with the potential to upgrade existing resource estimates.

Expanding the Exploration Footprint

Beyond the known deposits, the approvals also cover multiple new high-priority targets across the broader Dante Project. These include outcropping reef layers and strong electromagnetic anomalies that have never been drill tested, presenting fresh opportunities for discovery. Field reconnaissance has already begun on the newly acquired HRM tenements, which are geologically contiguous with the core Dante area and interpreted to contain strike extensions of the Reef 1 and Reef 2 mineralised systems.

Simultaneously, exploration activities have started in the vast and underexplored Dante East area, which spans over 400 square kilometres and contains more than 30 kilometres of historically mapped reef layers; over three times the strike length currently supporting the upcoming Mineral Resource Estimate (MRE). This region has not undergone systematic modern exploration, highlighting its potential as a growth corridor for Terra Metals.

Towards a Maiden Mineral Resource Estimate

In preparation for the maiden MRE, Terra Metals has scheduled a site visit in mid-June with independent South African resource consultants. This milestone, coupled with ongoing metallurgical optimisation testwork and active exploration, positions the company well for a series of news flow catalysts in the coming months. The Dante Project’s geology is complex and rich, hosting multiple mineralised layers within the Jameson Layered Intrusion, part of the larger Giles Complex, known for its Bushveld-style copper, gold, platinum group metals, titanium, and vanadium deposits.

Strategic Location and Geological Potential

Situated near BHP’s Nebo-Babel deposit, one of the world’s largest mining developments, the Dante Project benefits from proximity to established infrastructure and a proven mineral province. The discovery of the Dante Reefs in 2024, extending at least 20 kilometres, underscores the project’s potential. The multiple stratiform reefs, each with distinct metal assemblages, offer diverse economic opportunities, from high-grade titanium and vanadium magnetite layers to chromite and sulphide-bearing reefs rich in precious metals.

Terra Metals’ CEO Thomas Line expressed optimism about the approvals and the exploration pipeline, highlighting the company’s strong strike rate and the exciting prospect of testing previously untested reef layers and electromagnetic anomalies. The ongoing work across expanded tenements and new targets could significantly enhance the project’s resource base and value proposition.

Bottom Line?

With Phase 3 drilling underway and new targets opening up, Terra Metals is poised to redefine the scale and scope of its Dante Project resource potential.

Questions in the middle?

• What initial results will Phase 3 drilling yield from the newly approved targets?
• How will the maiden Mineral Resource Estimate impact Terra Metals’ valuation and project strategy?
• What are the implications of metallurgical testwork on the economic viability of the various reef layers?