- Southwest discovery situated within district scale Dante project
- More than 35,000m of drill samples from Southwest still to be reported, with four rigs continuing drilling
- Maiden Southwest’s MRE scheduled for Q1 CY27, while metallurgical results are expected this quarter
- Scoping study on track for mid-CY27.
Terra Metals (ASX: TM1) has obtained project best grades in the latest assays from diamond drilling at the Southwest platinum group metals (PGM)-copper-nickel (PGM-Cu-Ni) sulphide discovery in Western Australia.
.png)
CEO and MD, Thomas Line, said the 1.1m sample at 72.71 grams per tonne, or 2.34 ounces to the tonne, is a bonanza grade by any measure.
The sample sits inside a 32m zone averaging close to 4.0 grams per tonne of 3E PGM, which in turn sits inside 67m at more than 2.0 grams per tonne with nickel and copper.
“Add the 98m zone above it at 1.18 grams per tonne and this single hole captures what Southwest is: a very large mineralised system with high-grade reefs running through it,” Mr Line said.
“Three weeks ago, hole SWRC105 showed 200m of mineralisation starting at surface. SWDD133 now shows what the reefs can do at depth in the central block.
“Between those two results, more than 35,000m of samples awaiting assay from more than 70,000m drilled this year, metallurgical results are due this quarter and a maiden mineral resource estimate is on track for the first quarter of 2027, meaning shareholders can expect a steady flow of news as this discovery takes shape.”
Mr Line told sharehoders Terra is now 100% focused on Southwest.
The Southwest discovery is situated within Terra Metals’ 100% owned Dante project, a 3,000 sq. km district scale tenement portfolio located in the West Musgrave region of Western Australia.
Southwest’s high-grade mineralisation is tied to a magmatic nickel-copper-PGM sulphide system, including massive and semi-massive sulphides. Faulting has broadly concentrated metal, lifting grades within the sulphide package.
“Together, these findings give the next phase of work a robust geological framework, with structural data aiding the search for continued high-grade zones,” Mr Line said.
“WDD133 provides further evidence that the stacked reef system seen from surface in the eastern holes continues through the central block of the Southwest discovery and at depth.”
TM1 was steady at 15.0¢ with a Mkt cap of $149.4M prior to markets opening.
Join the discussion: See what HotCopper users are saying about Terra Metals and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.