Terra Metals Confirms 172m Continuous PGM-Cu-Ni Zone at Southwest Prospect

Continuous High-Grade Zone Redefines Southwest Prospect

Terra Metals Limited (ASX:TM1) has fundamentally reshaped the understanding of its Southwest Prospect within the Dante Project, Western Australia, by confirming a single, continuous 172.4-metre zone of platinum group metals (PGM), copper, and nickel mineralisation. This unbroken interval, now linking drill holes SWRC031 and SWDD006, grades 1.11 g/t PGE3 with accompanying copper and nickel values, and includes bonanza-grade pockets reaching 31.11 g/t PGE3 over 0.3 metres. The result significantly increases the recognised thickness and continuity of the Southwest magmatic sulfide system, underscoring its scale and growth potential.

Managing Director Thomas Line described the findings as a game-changer, highlighting that what were previously considered separate intercepts are in fact a single mineralised body open at depth and along strike. The continuity of nickel grades across the entire interval, combined with new assay results from twin holes SWDD003 and SWDD004, suggests a fertile magmatic system with considerable vertical extent and lateral reach. The geometry indicates the thickest and highest-grade mineralisation plunges below current drilling at SW1, marking it as a priority target for upcoming campaigns.

Expanding Footprint with Multiple Discovery Zones

Beyond the SW6 (Feeder Pipe) Discovery Zone, where the continuous 172.4-metre mineralised interval was identified, Terra Metals has reported encouraging first-time assays from SWDD004 and SWDD003 that extend mineralisation beyond previously mapped areas at the SW5 and SW1 zones respectively. These results reveal multiple coherent zones of PGM-Cu-Ni mineralisation, with persistent elevated nickel grades and polymetallic signatures including titanium and vanadium. The mineralisation occurs within both magnetite-rich and non-magnetite gabbros, hosted in ultramafic and mafic lithologies, and sulphide textures vary from disseminated to net-textured and locally massive.

These findings align with the company's earlier reports of a large sulfide system at Southwest, which has been further validated by recent drilling that intercepted multiple massive sulfide zones near a downhole electromagnetic conductor, confirming the system's complexity and mineral richness multiple massive sulfide zones. The polymetallic nature and structural complexity revealed by the drilling indicate a dynamic magmatic plumbing system capable of generating multiple mineralisation styles.

Geological Complexity and Structural Insights

Drilling and detailed logging have revealed that mineralisation at Southwest is primarily controlled by magmatic layering within a stratiform mafic intrusive system, with localised folding and syn-magmatic deformation adding structural complexity. This is evidenced by variations in dip and thickness relative to the regional southwest orientation. The mineralisation remains stratabound and continuous despite these complexities.

To better constrain the system's geometry, Terra Metals plans to deploy downhole acoustic and optical televiewer surveys to directly image layering and structural features within drillholes. This will complement existing alpha-beta structural measurements from oriented core, enhancing the resolution of the geological model. The ongoing diamond drilling program is also focused on systematic logging of primary cumulate layering to refine structural datasets and support future resource definition.

Dante Project's Growing Resource Base and Strategic Position

The Southwest Prospect sits within the broader Dante Project, a multi-metal discovery hosted in the Jameson Layered Intrusion of the Giles Complex, an intrusion comparable in scale and style to South Africa’s Bushveld Complex. The project already boasts a substantial mineral resource estimate dominated by stratiform titanium-vanadium-copper-PGM reefs, with recent expansions pushing strike potential beyond 80 kilometres.

Terra Metals' recent assay results build on the expanding footprint of high-grade sulfide mineralisation at Southwest, complementing the extensive Ti-V-Cu-PGM resources at Dante Reefs. The polymetallic sulfide system at Southwest, with its high-value iridium-group PGMs confirmed through partial PGE7 assays, points to a primitive magmatic sulfide system with feeder-related processes. This complexity and multi-style mineralisation were highlighted in earlier announcements detailing the discovery of a large iron-oxide-apatite system nearby, emphasizing the project's long-lived and fertile magmatic nature expanding high-grade sulfide system.

Looking Ahead: Drilling and Modelling to Unlock Potential

While true widths of mineralisation remain to be determined, and some assay results are pending, Terra Metals is advancing with a clear strategy to refine the geological and structural model at Southwest. Future work includes continued diamond drilling to test lateral and depth extensions, integration of structural and assay data for 3D modelling, and geophysical surveys such as downhole and ground electromagnetic methods to identify feeder conduits and stratiform mineralisation.

The company’s approach to understanding the complex magmatic system, combined with the confirmed presence of high-grade PGM-Cu-Ni mineralisation open for expansion, positions the Southwest Prospect as a compelling discovery with the potential to significantly grow the Dante Project's resource base.