Terra Metals has reported broad PGM-Cu-Ni mineralisation and repeated higher-grade reef layers from three holes at its Southwest Discovery in Western Australia. The results strengthen the geological picture ahead of a planned maiden Mineral Resource Estimate, but true widths, recoveries and resource scale remain unconfirmed.
- 14m at 3.13g/t 3E, including 5m at 5.45g/t 3E in SWRD054
- 79.8m at 1.30g/t 3E and a 1.29m zone at 18.62g/t 3E
- SWRD056 returned separate 44m and 42m intervals above 1.3g/t 3E
- Southwest mineralisation extends over more than 1.1km of strike and remains open
- Metallurgical testwork and modelling are progressing toward a maiden MRE
Three holes sharpen Southwest's grade profile
Terra Metals Limited (ASX:TM1) has shifted the focus at its Southwest Discovery from proving scale to defining the higher-grade reefs embedded within it. New assays from three holes returned multiple separate intervals above 1g/t 3E, including a standout 14m at 3.13g/t 3E in SWRD054 with a 5m core grading 5.45g/t 3E, alongside nickel and copper credits.
SWRD054 delivers the sharpest intersections
SWRD054 intersected 210m at 0.83g/t 3E from 189m, including 79.8m at 1.30g/t 3E from 302m. Deeper in the hole, a 20.7m PGE-Cu-Ni interval graded 2.32g/t 3E and included the 14m high-grade reef. The hole also returned a narrow 1.29m interval at 18.62g/t 3E at 558.75m, showing the contrast between broad mineralised envelopes and discrete, much higher-grade zones.
Repeated zones extend through the mineralised package
SWRD056 produced a similar pattern, with 210m at 0.97g/t 3E from 171m containing 44m at 1.41g/t 3E and 42m at 1.37g/t 3E. Mineralisation continued downhole, including 93m at 0.56g/t 3E and a deeper 2m interval at 2.35g/t 3E. SWDD019 added 124.2m at 0.59g/t 3E, with separate higher-grade zones including 11m at 1.29g/t 3E, 9.5m at 1.42g/t 3E and 17m at 1.22g/t 3E.
A large system still awaits a formal resource
Terra says Southwest now spans more than 1.1km of strike, about 700m in width and at least 750m down dip from surface, while remaining open along strike and at depth. The company describes the geometry as potentially compatible with a low-strip, mechanised bulk open-pit concept and selective treatment of higher-grade material, but that remains a future technical possibility rather than an established development case. Reported lengths are downhole measurements, and true widths have not yet been established with sufficient confidence.
Metallurgy will test the product pathway
Drilling alone will not determine whether the grade profile can translate into saleable products. Terra is running flotation trials on composites to assess bulk and separate copper, nickel and precious-metal concentrates, while examining recovery, metal deportment and concentrate quality. The company has identified chalcopyrite, pentlandite and pyrrhotite as primary sulfide minerals, with additional bornite and cubanite.
Maiden MRE becomes the key definition point
The planned maiden Southwest Mineral Resource Estimate is intended to quantify tonnage and grade and begin separating the system's different grade domains. Resource-definition drilling, geological modelling, further assays and metallurgy will feed that work. Terra notes that its platinum-equivalent screening metric assumes 100% recovery solely to identify significant intercepts; actual recoveries remain subject to testwork. One SWRD056 sample from 545m to 546m is also pending reassay, leaving a small piece of the latest dataset unresolved.
Bottom Line?
The assays strengthen the case for recurring high-grade domains, but the next value-defining test is whether those reefs prove continuous, recoverable and material in the maiden Southwest resource.
Questions in the middle?
- Will the maiden MRE demonstrate sufficient continuity and tonnage in the higher-grade reef domains?
- What recoveries and concentrate qualities will the flotation testwork establish for the PGM, copper and nickel mineralisation?
- How closely will true widths and future drilling results match the current conceptual open-pit geometry?