Terra Metals (ASX:TM1) has finalized its acquisition of HRM Exploration to expand its landholdings at the Dante Project in Western Australia. This strategic move, focused on metallic metals, involves the acquisition of four exploration licenses spanning 618km², contiguous with Terra’s flagship polymetallic project. According to the deal, Terra Metals will issue 7.5 million shares to Hardrock Minerals, HRM’s sole shareholder, with potential for an additional 11.25 million shares based on performance milestones. The acquisition is expected to close soon, pending warranty verification.
Terra Metals believes this acquisition will significantly strengthen its tenement position in the West Musgrave region and the Jameson Layered Intrusion. CEO Thomas Line expressed enthusiasm about the expansion, highlighting the recent metallic metal discoveries at Reef 1 North and Reef 2. Metallurgical testwork has confirmed the mineralisation’s ability to produce high-grade concentrates with high recoveries using simple processing techniques. The company is actively working on metallurgical optimisation and preparing a maiden resource estimate for the acquired area.
