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Home Commodities Drilling confirms discovery of large Platreef-type copper-PGE sulfide deposit at Dante

Drilling confirms discovery of large Platreef-type copper-PGE sulfide deposit at Dante

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Terra Metals Limited (ASX:TM1) (“Terra” or the “Company”) is pleased to announce that results from 14 additional widely spaced first pass reconnaissance drilling at Dante Reef have confirmed multiple Platreef-style copper-PGE sulfide reef discoveries. Mineralization identified to date across 4.5km across Reefs 1 and 2 remains unexplored along strike and dip, with assays pending from a further 16 drill holes covering a further 4.5km of strike on Reef 2.


  • Results from a further 14 drill holes have confirmed the discovery of multiple Platreef-style copper-platinum group element (PGE) reefs at surface on the Dante Reef, just 15km from BHP’s $1.7bn Nebo Babel mine development (390Mt @ 0.30% Cu, 0.33% Ni, 0.23g/t PGE3).1.
  • Drilling results to date have confirmed that Dante Reef may host a large sulphide deposit containing copper, gold, platinum group elements, vanadium and titanium – the first of its kind in Australia.
    • The Dante Reef is a series of gently dipping, laterally extending mineralised layers (similar to coal seams) exposed above surface, stretching for a total length of 42 km.
    • The thickness is about 10m, with the upper basement layer being about 5m.
    • Mineralisation has been defined over 3km from surface at Reef 1* and initial assays at Reef 2* have confirmed a further 1.5km of mineralisation.
    • Other globally important coral reefs include those in the Bushveld province of South Africa, which have an average thickness of 1-2 metres.
  • Highlights from the more extensive initial drilling at Dante Reef include:
    • 6m @ 0.40% Cu, 0.79g/t PGE3, 0.66% V2ohFive19.9% ​​TiO2 From 4m (HRC004), including:
      • 2m @ 0.62% Cu, 0.85g/t PGE3, 0.71% V2ohFive 22.3% TiO2 From 6m
    • 5m @ 0.34% Cu, 0.84g/t PGE3, 0.81% V2ohFive21.2% TiO2 From 21m (URC005), including:
      • 3m @ 0.43% Cu, 0.94g/t PGE3, 0.88% V2ohFive 24.1% TiO2 From 23m
    • 7m @ 0.31% Cu, 0.61 g/t PGE3, 0.71% V2ohFive20.7% TiO2 From 17m (URC011)
    • 10m @ 0.82g/t PGE3, 0.11% Cu, 0.44% V2ohFive 10.5% TiO2 From 66m (HRC002), including:
      • 3m @ 2.22g/t PGE3, 0.20% Cu, 1.08% V2ohFive23.5% TiO2 From 68m
    • 5m @ 0.30% Cu, 0.81g/t PGE3, 0.70% V2ohFive19.1% TiO2 From 71m (URC006), including:
      • 2m @ 1.57g/t PGE3, 0.31% Cu, 0.99% V2ohFive23.2% TiO2 From 74m
    • 3m @ 1.40 g/t PGE3, 1.00% V2ohFive21.0% TiO2 From 9m (URC008)
  • The copper-PGE mineralization contains high-grade vanadium and titanium, which are important for renewable batteries and speciality steels. Conventional metallurgical testing has commenced.
  • Assay results from 16 drill holes covering a further 4.5 km of Reef 2 are still pending publication.
  • The Company expects to announce initial exploration targets for Reef 1 in the near future.

Managing Director and CEO Thomas Rein said: “we teeth Excited To have The first pass reconnaissance drilling program at the Dante Project has discovered multiple Platreef-style copper-PGE sulfide deposits. of The kind The next step in Australia is to continue replicating these results. that’s all of Widespread strike in of Dante Coral reefs, Secure we teeth good Placed for success.

“It is clear that there is a concentration of high-value metals intermixed within the same layer at Dante Reef, with chalcopyrite and bornite appearing to be predominantly copper sulphides. Our experienced metallurgical team, led by Dr Evan Kirby, has already commenced initial metallurgical test work focused on the application of conventional flowsheets.”

“The discovery of a similar reef in South Africa’s Bushveld province has created the world’s largest, longest operating and most profitable PGE, copper, nickel, gold, vanadium and titanium mining operation, which has been in production for over 100 years. The Bushveld’s layered reefs average one to two metres thick and require complex underground mining operations, but the 100-year mine lifespan shows how successful these types of deposits can be. The 120 million tonne Platreef deposit is thicker than any other Bushveld reef, lies 600 metres below the surface and requires extensive infrastructure, including some of the world’s largest hoist shafts, to extract the ore to the surface.

“However, Dante Reef is exposed above surface over a strike of more than 40 km, is gently sloping, has an average thickness of about 10 metres and is composed of a higher quality basal reef layer and a second upper reef layer of lower quality but similar thickness.

“This is just the beginning of the discovery story at the Dante Project, where the majority of the target and deposits remain undrilled. New findings at the Kronos deposit highlight a potential vector for higher-grade magmatic sulfides, and we look forward to announcing these, along with further assay results, in the coming weeks.”

To read the full ASX release click here

This article contains content from Terra Metals Limited, licensed for publication in Investing News Australia. This article is not financial product advice. It is your responsibility to carry out appropriate due diligence before acting on any information provided here. See our full disclaimer here.

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