Terra Metals (ASX:TM1) has confirmed a ‘major high-grade’ platinum group metal (PGM) sulphide discovery at the Southwest Prospect of the Dante Project in Western Australia, following the receipt of a second batch of assays from SW5.
Key highlights from the assay results include 14m @ 6.71 grams per tonne platinum-palladium-gold (PGE3) from 68m, including 3m @ 27.78g/t PGE3 from 68m, and 1m @ 52.97g/t PGE3 from 69m, and within a broader intercept of 35m @ 2.90g/t PGE3 from 48m.
The results confirm the presence of an extensive PGM-copper-nickel sulphide mineralisation within the Southwest corridor spanning more than 850m in strike length and 250m in width.
The SW5 results build on earlier SW6 results showing PGM-copper-nickel sulphide mineralisation and support an interpretation that the mineralisation at the Southwest prospect is linked to a shared feeder conduit or magma plumbing system.
Commenting on the results, Chief Metallurgist Dr Evan Kirby says “I’ve worked on major platinum deposits around the world and never seen a hard rock drill intersection with PGM grade anywhere close to this SWT008 intersection”.
CEO Thomas Line is also enthusiastic about these results. “When you intersect nearly 53 grams per tonne of PGMs from near surface, you don’t need to over-explain it — the rocks speak for themselves. These SW5 results are exceptional and indicate that we may be dealing with a large, powerful mineral system that is only just starting to come into focus.
“What excites me most is that this isn’t a one-off hit. We are seeing high-grade PGM sulphides emerging across multiple targets, outside of the current MRE in a setting that in a geochemical sense strongly favours scale, as well as high-grade,” Line says.
Assays remain pending for additional visually-identified sulphide intervals that were previously reported in SWDD006, providing Terra with near-term exploration upside.
Terra will conduct additional diamond and reverse circulation drilling to target intersections as close to perpendicular as possible, test down-dip and along-strike continuity of the sulphide-bearing units, and resolve the relationship to an interpreted feeder conduit system.
The integration of diamond drilling together with all geochemical, mineralogical and electromagnetic datasets will refine targeting and support the project’s progression toward resource definition.
Terra Metals is focused on developing the Dante Discovery in the West Musgrave region of Western Australia.
The company is presenting at the RIU Explorers Conference in Fremantle, Western Australia being held from 17-19 February. Mining.com.au is an official media partner at this year’s event.
Write to Amy Rotman at Mining.com.au
Images: Terra Metals
