Terra confirms second PGM discovery
Terra confirms second PGM discovery
Terra Metals (ASX: TM1) has confirmed a second new platinum group metal (PGM) copper-nickel sulphide discovery at the Southwest Prospect within the Dante project.The first shallow RC drillhole reported from SW5 intersects multiple broad zones of high grade PGM mineralisation, with consistent associated copper and nickel.SW5 is located more than 800m from the recently reported SW6 PGM discovery, confirming that high-tenor PGM sulphide mineralisation occurs across multiple, spatially distinct centres within the Southwest area.Terra Metals managing director and chief executive Thomas Line says the confirmation highlights the scale and complexity of the mineral system developing within the Dante project.“The fact that SW5 has intersected a broad, stratigraphically controlled sulphide horizon about 800m from the potential feeder-proximal SW6 discovery demonstrates that mineralisation is not confined to a single point source, but is developing across multiple positions within the same magmatic system,” he said.“Importantly, these Southwest discoveries sit outside our current Dante mineral resource estimate (MRE) and represent potential new, incremental upside to an already substantial polymetallic resource base.“At the same time, our primary focus remains on the systematic growth and de-risking of the existing Dante MRE at Reef 1 and Reef 2, where a large resource upgrade and expansion program is well advanced and extensive metallurgical optimization work is ongoing.“We are deliberately advancing both streams in parallel — continuing to invest in and grow the core Dante resource while methodically assessing new high-impact targets such as Southwest that have the potential to add further scale, optionality and long-term value to the project.”Extensive metallurgical optimisation testwork continues across the Dante MRE in preparation for an upcoming resource update.
