69m High-Grade PGM-Cu-Ni Interval Confirmed at SW5 in Dante Project

A New Chapter in the Dante Project

Terra Metals Limited has announced a significant breakthrough at its Dante Project in Western Australia with the confirmation of a second platinum group metal (PGM)-copper-nickel sulfide discovery at the SW5 target within the Southwest Prospect. The initial assays from drillhole SWT011 revealed a 69-metre continuously mineralised interval featuring multiple high-grade PGM zones, accompanied by copper and nickel. This discovery lies approximately 800 metres south of the previously reported SW6 target, establishing the presence of multiple mineralised centres within the Southwest area.

Distinct Mineralisation Styles Highlight System Complexity

While the SW6 prospect is interpreted to be close to a potential feeder-pipe, the mineralisation at SW5 appears to be stratigraphically controlled, resembling a reef-style sulfide horizon positioned further from the feeder zone. This duality of mineralisation styles supports the interpretation of a large, multi-phase magmatic sulfide system beneath the Southwest area. Such a system is reminiscent of major orthomagmatic provinces globally, where layered mafic intrusions host both oxide and sulfide mineralisation styles.

Resource Upside Beyond Current Estimates

Importantly, both SW5 and SW6 discoveries sit outside the current Dante Mineral Resource Estimate (MRE), which stands at 148 million tonnes grading 0.33 grams per tonne PGE3 and containing substantial quantities of titanium, vanadium, copper, and precious metals. The new findings thus represent potential incremental upside to an already substantial polymetallic resource base. Terra Metals is advancing resource expansion drilling and metallurgical optimisation at Reef 1 and Reef 2 concurrently, aiming to grow and de-risk the core Dante resource while exploring high-impact targets like Southwest.

Technical Insights and Next Steps

The SWT011 drillhole was designed to test a strong PGM auger anomaly and successfully intersected a layered mafic sequence consistent with emplacement within the broader Dante magma chamber. The principal mineralised interval occurs within an oxide-poor, sulfur-saturated mafic unit, indicating strong stratigraphic control on sulfide emplacement. Although the drillhole was not ideally oriented to intersect layering perpendicularly, the results confirm the fertility of the sulfide-bearing unit at depth.

Future drilling will prioritise optimised collar positions to better intersect the layered stratigraphy, focusing on down-dip and along-strike extensions of the sulfide-bearing mafic package. Integration of geophysical and geochemical data will refine targeting, aiming to define the thickness, continuity, and grade distribution of PGM-Cu-Ni sulfide mineralisation at Southwest.

Context Within a Globally Significant Project

The Dante Project is situated within the Jameson Layered Intrusion of the Giles Complex, a mafic-ultramafic system comparable in scale and style to South Africa’s Bushveld Complex, one of the world’s richest PGM provinces. The project hosts extensive stratiform titanium-vanadium-copper-PGM reefs with mineralisation starting at surface and extending to depths beyond 250 metres. Recent tenement acquisitions have expanded the project’s strike potential to over 80 kilometres, with numerous untested reef targets offering further exploration upside.