Terra Metals (ASX:TM1) CEO Thomas Line says the latest drill results have added an “important” dimension to the Southwest prospect’s story, located within the Dante Project in Western Australia.
Three holes returned results that demonstrate the scale and continuity of the Southwest platinum group metals (PGM)-copper-nickel sulphide system, confirming a substantial mineralised intrusive complex extending over 850m of strike between SW5 and SW6.
Mineralisation currently defines an apparent thickness exceeding 200m and remains open at depth.
Some of the latest results include 61m @ 1.41 grams per tonne PGE3, 0.13% copper, 0.19% nickel from 172m; 82.4m @ 1.14g/t PGE3, 0.11% copper, 0.11% nickel from 262m; and 89m @ 0.96g/t PGE3, 0.09% copper, 0.14% nickel from 144m.
The highest grade PGM zones in these new assays are platinum-rich, recording up to 17.8g/t platinum, contrasting with the predominantly palladium-dominant mineralisation previously reported at Southwest. Terra says this confirms a precious metals-diverse system.
Chief geologist Solomon Buckman says this pattern of mineralisation emerging at Southwest is consistent with the feeder-conduit and magma-chamber model that was hypothesised earlier in the program.
“Palladium is more strongly chalcophile than platinum, and the palladium-rich, high-tenor sulphides intersected at Southwest are exactly what we would expect in positions close to a replenishing feeder conduit, where repeated magma pulses drive sulphide saturation and metal upgrading,” Buckman says.
“Further from this conduit, the system transitions into more oxide-rich stratigraphy, producing the platinum-rich magnetite reefs observed at Hyperion and Cruis.”
Lines adds that with SW6 located 850m north of the SW5 discovery hole, the company is seeing clear evidence of repetition and scale within this intrusive system.
“The presence of a large off-hole downhole electromagnetic conductor directly beneath the one-ounce-per-tonne intercept provides a compelling next step as we continue to unlock the full potential of Southwest,” the CEO says.
A phase four drilling program is set to begin in March 2026, with four rigs being mobilised for the company’s largest ever program. Up to 30,000m of reverse circulation and diamond drilling will be conducted.
The program will focus on testing the vertical and lateral extensions of the PGM discoveries at SW5 and SW6, which remains open in all directions.
Terra Metals is presenting at the RIU Explorers Conference in Fremantle, Western Australia on day two (18 February) at 4.40pm AWST. The conference is held from 17-19 February 2026. Mining.com.au is an official media partner at this year’s event.
The Dante Project has potential to host large sulphide deposits containing copper, gold, PGMs, vanadium and titanium.
Of all six metals in the PGMs group, palladium and platinum are most important due to their economic values and higher quantities, as previously reported. The other four are mined as byproducts.
PGMs have many useful properties and are used in a wide array of applications, including auto-catalysts, electronics, medical tools, hydrogen production and hydrogen fuel cells, as well as in jewellery, among many others.
In fact, about 85% of palladium is used in vehicle exhaust systems, as part of the catalytic converter, turning toxic pollutants into less-harmful gases before being released into the atmosphere. Demand for hybrid cars is expected to largely contribute to demand for PGMs.
The International Market Analysis Research and Consulting Group expects the market to top US$55 billion ($85 million) by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032.
Write to Aaliyah Rogan at Mining.com.au
Images: Terra Metals
