Terra Metals (ASX:TM1) has confirmed a second platinum group metal sulfide discovery at the SW5 target at the Southwest Prospect of the Dante Project in Western Australia.
Initial assay results from first-pass reconnaissance drilling confirmed multiple broad zones of high-grade platinum group metal mineralisation, with associated copper and nickel. SW5 is located more than 800m from the recently reported SW6 discovery, confirming that this mineralisation occurs across multiple, spatially distinct areas across the SW zone.
Key highlights from SW5 include 69m @ 0.92 grams per tonne platinum, palladium, and gold (PGE3) from 48m, including 32m @ 1.19 g/t PGE3, 0.12% copper, and 0.10% nickel from 49m, including 8m @ 1.61g/t PGE3, 0.16% copper, and 0.15% nickel from 49m.
Managing Director and CEO Thomas Line says that the second platinum group metal discovery is a “significant step forward for our understanding of the Southwest area and highlights the scale and complexity of the mineral system” at the Dante Project.
“The fact that SW5 has intersected a broad, stratigraphically controlled sulphide horizon approximately 800 metres from the potential feeder-proximal SW6 discovery demonstrates that mineralisation is not confined to a single point source, but is developing across multiple positions within the same magmatic system.
“Importantly, these Southwest discoveries sit outside our current Dante mineral resource estimate and represent potential new, incremental upside to an already substantial polymetallic resource base.”
Planned follow-up drilling will test several priority positions to improve the intersection geometry and definite the thickness, continuity, and grade distribution of the platinum group metal-copper-nickel sulphide mineralisation at Southwest.
Terra Metals is developing its flagship asset, the Dante Project in the West Musgrave region of Western Australia.
Write to Amy Rotman at Mining.com.au
Images: Terra Metals
