Terra Metals (ASX:TM1) has reported new assays results from the phase three reverse circulation drilling campaign at the Southwest SW1 Prospect.
Assay confirm multiple new, near-surface Bushveld-style iron-titanium- vanadium-copper-platinum group elements (FE-TI-V-Cu-PGE) reefs were intersected downhole, showcasing new stacked mineralised horizons that extend from near-surface to depth.
The first sulfide-bearing hole to return assays is SWRC018, with intercepts including 21m @ 0.72% CuEq from 63-84m, including 5m @ 1.01% CuEq from 74-79m.
These assay results build on the SW1 intercepts previously announced on 29 October and 3 November, expanding the footprint of the sulfide-bearing system, and reinforcing the presence of the multiple, stacked, near-surface mineralised layers.
CEO Thomas Line says that the results showcase the scale and diversity of mineralisation across the project.
“Multiple new Bushveld style reefs have been discovered in the same zone, highlighting an extensive system of multiple stacked mineralised layers from near surface to depth,” Line says.
“Importantly, SWRC018, 19 and 21 are only the first holes to return assays from SW1. Several later holes contain stronger visual sulfides, including net-textured and locally massive zones at SW1, SW6 and SW5 prospects, and we are looking forward to reporting those results.”
The 2025 drill programme is now complete, with assays pending for approximately 106 drillholes.
Terra Metals is an Australian exploration company, focused on the development of Bushveld-style Copper-PGE sulfide reefs in Western Australia.
Write to Amy Rotman at Mining.com.au
Images: Terra Metals
