Dante Project’s Southwest Prospect Discovery Could Reshape Critical Metals Outlook

A Landmark Intercept at Southwest Prospect

Terra Metals Limited (ASX – TM1) has announced a significant milestone in its exploration campaign at the Dante Project in Western Australia’s West Musgrave region. The company’s Phase 3 drilling program has intersected a 58-metre thick titano-magnetite reef at the newly defined Southwest Prospect. This intercept, based on visual observations of drill samples, represents the thickest reef encountered so far within the project, underscoring the prospect’s potential as a cornerstone discovery.

The Southwest Prospect lies within the Jameson Layered Intrusion, a geologically complex and highly prospective area that has recently seen 5.2 kilometres of new reef strike mapped. This expansion substantially increases the prospective strike length and highlights the scale of mineralisation yet to be fully tested.

Strategic Drilling and Geological Insights

The drilling at Southwest is part of a broader strategy to target thicker and higher-grade portions of reef mineralisation across the Dante system. Drill hole SWRC008, which yielded the 58-metre intercept, was designed to test magnetic anomalies correlating with known mineralised zones. Alongside the magnetite reef, the drilling also intersected ultramafic and sulphide-rich geology, which bolsters the geological model and suggests potential for associated critical metals such as copper, gold, platinum-group metals (PGMs), nickel, cobalt, vanadium, and titanium.

These findings align with the company’s vision of Dante as a district-scale critical metals province, with multiple parallel reefs and electromagnetic anomalies still to be explored. The geological setting bears resemblance to South Africa’s Bushveld Complex, one of the world’s most prolific sources of PGMs and associated metals, which adds a compelling dimension to the project’s long-term potential.

Robust Funding and Growth Momentum

Terra Metals’ recent $15 million institutional placement, led by Golden Energy and Resources alongside Tribeca Investment Partners and Matt Latimore, has fortified the company’s balance sheet. This strong financial position supports an accelerated drilling program, metallurgical testwork, and ongoing resource expansion efforts.

The announcement follows the delivery of a maiden Mineral Resource Estimate (MRE) of 148 million tonnes, which already positions Dante as a significant critical metals asset. With less than 10% of the total strike drilled, the company’s exploration upside remains substantial, and the current Phase 3 drilling campaign is poised to unlock further discoveries.

Looking Ahead

While the visual observations are encouraging, Terra Metals cautions that assay results are pending and expected within approximately six weeks. These laboratory analyses will provide definitive grades and confirm the economic viability of the mineralisation. Meanwhile, the company continues to systematically test numerous high-priority targets across the Southwest Prospect and the broader Jameson Layered Intrusion.

Terra Metals’ exploration approach, combining historical data with modern geophysical techniques and aggressive drilling, is rapidly advancing the Dante Project’s profile. The thick reef intercept at Southwest not only validates this strategy but also sets the stage for what could be a transformative phase of resource growth and project development.