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Terra Metals (ASX:TM1) has observed multiple intersections of massive sulphides in drilling at the Southwest SW6 prospect at the Dante project in Western Australia.
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The first CY26 diamond hole drilled at the Southwest SW6 PGM-sulphide discovery has intercepted multiple zones of massive sulphides based on visual observations, proximal to the modelled SWDD006 off-hole downhole electromagnetic (DHEM) conductor.
Terra’s managing director, Thomas Line, said that assays are now expected within eight to 12 weeks. “The visual interception of multiple zones of massive sulphides in our first 2026 diamond hole at Southwest is a major exploration milestone and a strong validation of our geological model,” he said.
He added: “Importantly, this hole has successfully targeted the SW6 downhole electromagnetic conductor, located proximal to the exceptionally high-grade mineralisation previously intersected in SWDD006.
“The result provides compelling evidence that we are vectoring into a richer massive sulphide component within the broader Southwest magmatic PGM-Cu-Ni sulphide system.
“Just as importantly, it confirms DHEM as a highly effective tool for identifying concealed massive sulphide accumulations associated with the feeder pipe, which will play a key role in unlocking further high-grade zones across the system.”
The newly discovered semi-massive to massive sulphide layers are hosted within a 320-metre zone of dominantly disseminated to net-textured sulphides.
Terra plans to complete DHEM on the SWDD011 hole and all other Southwest drillholes, with modelled DHEM conductors to be used in further targeting.
The Dante project, located in the West Musgrave region of Western Australia, hosts a globally significant, multi-metal discovery within the Jameson Layered Intrusion – part of the Giles Complex, a mafic-ultramafic system comparable in scale and style to South Africa’s Bushveld Complex.
The Dante Reefs, discovered in CY24, represent three large-scale, stratiform titanium-vanadium-copper-PGM reefs extending over a 20-kilometre strike length, with mineralisation starting from surface and extending to depths of more than 250 metres.
More than 38,000 metres of diamond and reverse circulation drilling has defined extensive, shallowly dipping, mineralised layers similar to the magnetite layers of the Bushveld Complex.
TM1 is up +5.83% to 31.8¢. Mkt cap $291.8M.
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