Terra Metals Finds Platreef-Style Sulfide Reefs at Dante Project; Shares Surge 65%

MT Newswires Live06-20

Terra Metals (ASX:TM1) discovered Platreef-style copper-platinum group elements sulfide reefs from reconnaissance drilling at the Dante project in Western Australia.

The discovery of reefs similar in style to those in South Africa's Bushveld Province has resulted in some of the worldâs largest, longest running and most profitable mining operations, said Managing Director and Chief Executive Thomas Line in a Thursday filing with the Australian bourse.

Drilling confirmed Dante Reefs' potential to host a large sulfide deposit containing copper, gold, platinum group elements, vanadium and titanium.

Notable hits include 6 meters at 0.40% copper, 0.79 grams per tonne of platinum group elements, 0.66% vanadium pentoxide and 19.9% titanium dioxide from 4 meters as well as 5 meters at 0.34% copper, 0.84 g/t of platinum group elements, 0.81% vanadium pentoxide and 21.2% titanium dioxide.

Shares of the company soared nearly 65% in Thursday's late-morning trade.

Further assays are due in the coming weeks.

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