Terra Metals has identified commercial quantities of titanium, vanadium, and copper at its Dante critical minerals project in Western Australia.
The company’s maiden mineral resource estimate (MRE) shows high concentrations of the three metals across the 148-million-tonne (Mt) resource, amounting to 22Mt of titanium dioxide, 800,000t of vanadium oxide, and 270,000t of copper.
A high-grade indicated resource of 38Mt within the MRE features 18.4 per cent titanium dioxide, 0.73 per cent vanadium oxide, and 0.23 per cent copper.
The project area also features concentrate grades across gold and platinum.
Terra Metals will commence phase three drilling shortly, targeting resource growth and potential new discoveries across multiple reef corridors.
Terra Metals chief executive officer and managing director Thomas Line said the maiden MRE had exceeded all expectations.
“Our maiden MRE confirms Dante as a globally significant critical metals discovery,” he said, “and to achieve it within just 12 months, at a very low discovery cost per tonne of resource, is an exceptional result.
“The quality of the mineral system – its scale, near-surface continuity, metallurgical performance and growth potential – positions Dante as a strategic, long-life critical metal asset on a global scale.
“With phase three drilling about to commence, and the mineral system remaining wide open, we see a clear path to rapid, low-cost resource growth and potential further discoveries across this vast, under-explored province.”