• Maiden Mineral Resource of 148Mt @ 14.8% TiO2, 0.54% V2O5, 0.18% Cu and 0.33g/t 3PGE
• Significant potential for resource growth along strike and at depth
• Major acceleration in exploration activity with 113 holes drilled in Phase 3 program

Terra Metals Ltd (ASX:TM1) has reported a maiden Mineral Resource Estimate for its 100%-owned Dante Project in the West Musgrave region of Western Australia. The Mineral Resource totals 148Mt @ 14.8% TiO2, 0.54% V2O5, 0.18% Cu and 0.33g/t 3PGE, containing approximately 22Mt TiO2, 800Kt V2O5, 270Kt Cu and 1.6Moz 3PGE. The higher-grade Indicated Mineral Resource comprises 38Mt @ 18.4% TiO2, 0.73% V2O5, 0.23% Cu and 0.71g/t 3PGE. Importantly, the current resource area covers less than 10% of the mapped mineralised trend, highlighting significant potential for resource growth along strike and at depth. The company has also significantly accelerated exploration activities at the Dante Project, commencing a major Phase 3 drilling campaign. To date, the company has drilled approximately 113 holes for 12,775 metres, targeting resource expansion, new discoveries and district-scale upside. A notable new discovery was made at the Southwest Prospect, where first-pass drilling intersected a 58-metre interval of magnetite reef mineralisation, representing the thickest reef interval encountered to date. The company has a strong financial position following the completion of the first tranche of a $15 million placement, providing funds to accelerate drilling, resource growth and project development.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

The company has not provided any specific forward-looking outlook statements in the announcement, but has highlighted the significant potential for resource growth along strike and at depth, as well as the accelerated exploration activities underway to test new targets and expand the known mineralisation.