Terra Metals Limited

Drilling Confirms Discovery of Large Platreef-Style Copper-PGE Sulphide Reefs at Dante

Terra Metals Limited (ASX:TM1) (“Terra” or “Company”) is pleased to announce that results from a further 14 wide-spaced, first-pass reconnaissance drill holes at the Dante Reefs has confirmed the discovery of multiple Platreef-style copper-PGE sulphide reefs. Defined over 4.5km thus far across Reef 1 and Reef 2, mineralisation remains open along strike and downdip, with assays pending from a further 16 drillholes covering an additional 4.5km of strike at Reef 2.


Highlights

  • Results from a further 14 drillholes confirm the discovery of multiple Platreef-style copper- platinum group element (PGE) reefs from surface at the Dante Reefs; only 15km from BHP’s $1.7 billion Nebo-Babel mine development (390Mt @ 0.30% Cu, 0.33% Ni, 0.23g/t PGE3)1.
  • Drilling results to-date confirm that the Dante Reefs have the potential to host a large sulphide deposit containing copper, gold, PGEs, vanadium and titanium; the first of its kind in Australia.
    • The Dante Reefs are a series of gentle dipping, laterally extensive, mineralised layers (similar to a coal seam) which outcrop from surface and in total run for 42km.
    • Approximately 10m thick with a higher-grade basal layer of approximately 5m.
    • Mineralisation defined over 3km in length from surface at Reef 1*, while first assays at Reef 2* confirm a further 1.5km of strike.
    • Other globally significant reefs include those of the Bushveld Province in South Africa which average 1-2m in thickness.
  • Highlights from further wide-spaced, first-pass drilling at the Dante Reefs include:
    • 6m @ 0.40% Cu, 0.79g/t PGE3, 0.66% V2O5, & 19.9% TiO2 from 4m (HRC004), including:
      • 2m @ 0.62% Cu, 0.85g/t PGE3, 0.71% V2O5 & 22.3% TiO2 from 6m
    • 5m @ 0.34% Cu, 0.84g/t PGE3, 0.81% V2O5, & 21.2% TiO2 from 21m (URC005), including:
      • 3m @ 0.43% Cu, 0.94g/t PGE3, 0.88% V2O5 & 24.1% TiO2 from 23m
    • 7m @ 0.31% Cu, 0.61 g/t PGE3, 0.71% V2O5, & 20.7% TiO2 from 17m (URC011)
    • 10m @ 0.82g/t PGE3, 0.11% Cu, 0.44% V2O5 & 10.5% TiO2 from 66m (HRC002), including:
      • 3m @ 2.22g/t PGE3, 0.20% Cu, 1.08% V2O5, & 23.5% TiO2 from 68m
    • 5m @ 0.30% Cu, 0.81g/t PGE3, 0.70% V2O5, & 19.1% TiO2 from 71m (URC006), including:
      • 2m @ 1.57g/t PGE3, 0.31% Cu, 0.99% V2O5, & 23.2% TiO2 from 74m
    • 3m @ 1.40 g/t PGE3, 1.00% V2O5, & 21.0% TiO2 from 9m (URC008)
  • The copper-PGE mineralisation includes high-grade vanadium and titanium, critical for renewable batteries and specialty steel. Conventional metallurgical tests have commenced.
  • Assays from 16 drill holes still outstanding from a further 4.5km of strike at Reef 2.
  • The Company anticipates publishing an initial exploration target for Reef 1 in the near future.

Managing Director and CEO, Thomas Line, commented:“We are excited to have discovered multiple Platreef-style copper-PGE sulphide reefs from a first pass-reconnaissance drilling program at the Dante Project; the first of its kind in Australia. Our next step is to continue to replicate these results over the extensive strike at the Dante Reefs, ensuring we are well positioned for success.

“It’s clear that there is a concentration and combination of high value metals within the same layers in the Dante Reefs. Chalcocite and bornite appear to be the dominant copper-sulphides. Our highly experienced metallurgical team, led by Dr. Evan Kirby, have already commenced initial metallurgical test work, focusing on the application of conventional flowsheets.

“The discovery of similar style reefs in the Bushveld Province of South Africa has resulted in some of the world’s largest, longest running and most profitable PGE, copper, nickel, gold, vanadium and titanium mining operations with over 100 years of ongoing production. The stratiform reefs of the Bushveld average 1 to 2 metres in thickness and require complex underground mining operations; however, their centennial mine life exemplifies how successful these types of deposits can be. The 120 million tonne Platreef Deposit, which is thicker than the other reefs in the Bushveld, sits 600m beneath the surface requiring immense infrastructure including one of the world’s largest hoist-shaft to extract the ore to the surface.

“The Dante Reefs, however, outcrop from surface over more than 40km of strike, with a gentle dip and an average thickness of approximately 10 metres with a higher-grade basal reef layer, and a second, upper reef layer of lower grade but similar thickness.

“This is just the beginning of the discovery story at the Dante Project, where the vast majority of targets and strike remain undrilled. New insights at the Cronus Prospect are highlighting possible vectors for higher-grade magmatic sulphides. We look forward to presenting these along with further assays in the coming weeks.”


Click here for the full ASX Release

This article includes content from Terra Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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finlay minerals ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce the staking of 9 mineral claims covering 15,453 hectares (approximately 154 km²) in the northern Bear Lake Corridor of British Columbia . The JJB Property is named in honour of Finlay's Founder, John J. Barakso who was an early advocate for the potential of the Bear Creek Corridor.

Figure 1. New JJB Property location and expanded SAY Property boundary. (CNW Group/Finlay Minerals Ltd.)

JJB PROPERTY:

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SAY PROPERTY:

Lying 4 km south of Finlay's new JJB Property, work continues on the SAY Property, which has recently been expanded with additional staking to the north and south. The SAY Property now totals 26,202 hectares. The SAY Property was acquired in 2024, and an inaugural field program focused on chip sampling and mapping along the 4.3-kilometer-long SPUR Trend. This led to the discovery of the AG Zone and confirmed the continuity of high-grade Cu-Ag mineralization in the East Breccia Zone.

The SPUR is a high-grade Cu-Ag structural vein and breccia target that extends for 4.3 km along the north-northwest Tsaytut Spur ridge * .

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Details on the SAY Property, can be found in the SAY Property Technical Presentation and in the Properties section of the Company website at www.finlayminerals.com .

References:

*

Refer to finlay minerals ltd. News Release # 11-24 dated October 3, 2024 entitled: " Finlay Minerals has completed its Inaugural Field Program at the High-Grade Copper-Silver SAY Property " available on SEDAR at www.sedarplus.ca.

Qualified Person:

Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

About finlay minerals ltd.

Finlay is a TSXV company focused on exploration for base and precious metal deposits with five 100%-owned and operated properties in northern British Columbia . In addition to the JJB & SAY Properties, the Company holds the:

  • PIL Property , which covers 13,374 ha in the heart of the Toodoggone region, has numerous porphyry Cu-Au ± Ag targets and associated epithermal Au-Ag mineralization. Exploration on the PIL Property is fully funded for 2025 with the signing of an Earn-In-Agreement with Freeport-McMoRan (Refer to news release FYL NR03-25 entitled: "Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL & ATTY Properties ". ) The PIL is neighboured by Amarc Resources and Freeport-McMoRan's joint venture JOY Project and TDG Gold Corporation's Shasta/Baker and Sofia Properties. The PIL Property is also 25 km northwest of Centerra Gold's past-producing Kemess South Mine and 15 km east of Thesis Gold's Lawyers Project.

  • ATTY Property covers 3,875 ha of sub-alpine terrain in the southern Toodoggone region. Exploration on the ATTY Property is also full-funded for 2025 with the signing of an Earn-In-Agreement with Freeport-McMoRan in April 2025.The Toodoggone is a northwest-trending belt of Triassic to Jurassic arc terranes that hosts numerous significant porphyry Cu-Au ± Ag and associated epithermal Au-Ag deposits. The ATTY Property is in between and contiguous to Centerra Gold's Kemess Project and the joint-venture JOY Project held by Amarc Resources and Freeport-McMoRan. The ATTY Property KEM target has similarities to the Kemess North Trend, which hosts the Kemess Underground and Kemess East deposits.

  • Silver Hope Property covers 21,322 ha and surrounds the past-producing Equity Silver Mine in the prospective Skeena Arch region of central B.C. The Silver Hope contains the Main Trend which is a >2 km Cu-Ag-Au mineralized trend with mineralization starting at surface.  West of the Main Trend is the West Cu-Mo Porphyry which is also mineralized starting from surface. The Property hosts a network of forestry roads and trails and has all-year access from Houston, BC .

Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com

On behalf of the Board of Directors,

Robert F. Brown
President, CEO & Director

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements.  Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the JJB and SAY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

SOURCE finlay minerals ltd.

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