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Terra Metals Limited (ASX:TM1)

ALERT: Price-sensitive ASX Announcement for TM1
Current share price for TM1 : $0.210 0.095 (82.61%)+
Announcement
Release
22 Sep 2025 9:52AM
Price at Release
$0.115
Full Release
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Summary
Terra Metals Limited has reported a significant discovery at their Dante Project in the West Musgrave region of Western Australia, where drilling at the new Southwest Prospect has intersected a 58-metre-thick titano-magnetite reef layer, marking the thickest reef encounter to date at this site. The Southwest Prospect is part of a broader exploration effort at the Jameson Layered Intrusion, where less than 10% of the strike has been drilled, signaling substantial potential for further discoveries of multi-commodity critical metals. The recent drilling success is underpinned by strong institutional support, including a $15 million placement, enabling the company to aggressively pursue additional drilling and metallurgical testwork. The combination of historical data and new mapping has positioned the Southwest area as a prime target for further exploration and potential district-scale development. The project continues to be an exciting prospect for significant discoveries in the layered mafic-ultramafic systems, comparable to South Africa's Bushveld Complex.
Key Points
  • Drilling at the new Southwest Prospect intersected a 58m thick titano-magnetite reef.
  • The site is part of the Dante Project in the West Musgrave mining hub, Western Australia.
  • The drilling is at an early stage with less than 10% of strike tested, indicating high potential for further discoveries.
  • Strong institutional backing with a $15 million placement supports ongoing exploration.
  • The Southwest Prospect could host a globally significant multi-commodity critical metals system.
  • The discovery reaffirms Terra Metals' strategy of targeting thicker and higher-grade reef portions.
  • The project is comparable to South Africa’s Bushveld Complex, known for PGM-Ni-Cu-V-Ti deposits.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.