Terra Metals has announced a breakthrough high-grade platinum group metal discovery at its Southwest Prospect within the Dante Project, with drillhole SWT008 returning grades up to 52.97 g/t PGE3 from near surface. This discovery signals a potentially large, continuous magmatic sulfide system with promising scale and open-pit development potential.
- Drillhole SWT008 intercepts 14m at 6.71g/t PGE3 including 1m at 52.97g/t PGE3
- Mineralisation starts near surface and remains open in all directions and at depth
- Southwest Prospect mineralised corridor extends over 850m strike and 450m width
- Discovery linked to a large magmatic feeder conduit system within layered intrusion
- Follow-up oriented diamond drilling and full PGM suite assays planned
A Game-Changing Discovery in Western Australia
Terra Metals Limited (ASX – TM1) has revealed a major advancement in its exploration efforts at the Southwest Prospect, part of the expansive Dante Project in Western Australia's West Musgrave region. The company’s latest drilling results from hole SWT008 have delivered exceptionally high-grade platinum group metal (PGM) sulfide mineralisation, with assays peaking at an extraordinary 52.97 grams per tonne of combined platinum, palladium, and gold (PGE3) starting from near surface.
This intercept is not only remarkable for its grade but also for its breadth, with a 14-metre zone averaging 6.71 g/t PGE3 within a broader 35-metre mineralised interval. The mineralisation remains open-ended in all directions and at depth, as the hole was terminated 138 metres short of its planned depth while still in mineralised rock, suggesting further upside potential.
A Large-Scale Magmatic Sulfide System Emerges
The Southwest Prospect now boasts a mineralised corridor extending approximately 850 metres along strike and 450 metres across, averaging around 50 metres thick. The geological evidence points to a vertically stacked, multi-horizon magmatic sulfide system, likely fed by a deep-seated conduit within the layered mafic-ultramafic Jameson Intrusion. This system is distinct from the existing titanomagnetite reef resources at Dante and is characterised by high-grade PGM-Cu-Ni sulfides concentrated in oxide-poor mafic layers.
Chief Metallurgist Dr Evan Kirby, with extensive experience on world-class platinum deposits, highlighted the exceptional nature of the grades, noting that such hard rock intersections are rarely seen outside of historic South African dunite pipes. Managing Director Thomas Line emphasised the significance of near-surface mineralisation with such high grades, suggesting the potential for a straightforward open-pit mining scenario pending further studies.
Building on a Strong Foundation
The SWT008 results build on earlier discoveries at the SW5 and SW6 targets, which had already indicated the presence of PGM-Cu-Ni sulfides associated with a shared magmatic plumbing system. Additional drillholes, including SWT009, have confirmed the continuity of mineralisation along strike and support the interpretation of a large, coherent sulfide system rather than isolated pockets.
Pending assays from other sulfide intervals and ongoing geological modelling will further refine the understanding of this system. The company plans to undertake oriented diamond drilling to better constrain the true widths and structural controls of the mineralised horizons, as well as re-assaying for a full PGM suite including rhodium, which could add further value.
Strategic Implications and Next Steps
The discovery at Southwest significantly enhances the Dante Project’s profile as a globally significant polymetallic system. With over 38,000 metres of drilling already completed across the project and recent tenement acquisitions extending prospective strike to over 80 kilometres, Terra Metals is well positioned to advance towards resource definition and development.
Integration of geochemical, mineralogical, and geophysical data will be critical in targeting further mineralised zones and understanding the complex magmatic processes at play. The company’s cautious but optimistic approach reflects the early-stage nature of the discovery, with a clear pathway outlined for follow-up drilling and technical studies.
Bottom Line?
Terra Metals’ Southwest discovery could redefine the Dante Project’s potential, but the next phase of drilling will be crucial to unlock its full value.
Questions in the middle?
- What are the true widths and dip angles of the high-grade mineralised zones?
- How will the full PGM suite assays, including rhodium, impact the project’s economics?
- What metallurgical characteristics will the sulfide mineralisation exhibit for processing?