Terra Metals Confirms Scale of Southwest PGM-Copper-Nickel Discovery

Terra Metals (ASX: TM1) has confirmed broad platinum group metal (PGM), copper, and nickel sulphide intersections at the Southwest discovery within its Dante project in Western Australia’s West Musgrave region.

The latest assays came from three reverse circulation (RC) pre-collars drilled across a 650m gap in the Southwest Main Sulphide Zone between previously reported discovery holes.

Each reported pre-collar ended in mineralisation, with deeper diamond drill tails subsequently completed to between 724.8m and 918.3m and assays still pending.

Terra considers the results to have increased confidence in the scale and continuity of a newly recognised mineralised ultramafic package outside the existing Dante mineral resource estimate (MRE).

Broad Sulphide Intercepts

The strongest interval returned 194m at 0.71 grams per tonne three-element platinum group elements (PGE3; the combined grade of platinum, palladium, and gold) and 0.11% nickel from 58m to the end of the 252m RC pre-collar.

The result included 34m at 1.32g/t PGE3, 0.10% nickel, and 0.13% copper from 58m, as well as 11m at 2.62g/t PGE3, 0.27% nickel, and 0.19% copper from 168m.

Terra has completed the diamond tail below this hole to 724.8m, leaving a substantial unassayed extension beneath the reported RC intercept.

Other highlight hits were 105m at 0.87g/t PGE3 from 183m to the end of the 288m RC pre-collar and 76m at 0.87g/t PGE3 and 0.16% nickel from 170m to the end of the 246m RC pre-collar, including 15m at 1.57g/t PGE3, 0.21% nickel, and 0.13% copper from 231m to the end of hole.

Drilling to date has defined mineralisation over more than 950m of strike, approximately 650m of width, and at least 750m of down-dip extent from surface.

Scale and Continuity

Chief executive officer Thomas Line said the results continued to demonstrate the scale and continuity of Southwest.

“Every RC pre-collar reported in this announcement intersected broad intervals of PGM-copper-nickel sulfide mineralisation, providing further confidence that we have identified a significant new mineralised system outside the existing Dante mineral resource,” he said.

Mr Line said Terra’s recent drilling had focused on a newly recognised, thick sulphide-bearing zone along Southwest’s eastern flank.

“Within this package we have already identified multiple mineralised sulfide units, with additional sulfide bearing layers continuing to be recognised above and below what was previously known.”

“The RC pre-collars have successfully demonstrated the continuity of this large mineralised system, while the much deeper diamond tails, completed to depths of up to 919m, remain pending assays and represent significant additional upside.”

Ongoing Southwest Drilling

Terra has multiple rigs continuing extensional and infill drilling at Southwest, which sits within the broader Jameson Layered Intrusion and is emerging as a new growth centre separate from the current 148 million tonne Dante MRE.

Ground electromagnetic and downhole electromagnetic surveys are generating additional targets, including potential higher-conductance sulphide accumulations.

Heritage surveys scheduled for next month are expected to expand drill access for further extensional drilling and future grid-spaced resource drilling.

The company is aiming to report a maiden Southwest MRE in late 2026 and progress detailed metallurgical test work and flowsheet development toward a pre-feasibility study.