Terra Metals (ASX:TM1) has begun drilling at the Southwest SW5 platinum group metal (PGM)-sulphide discovery within the Dante Project in Western Australia to follow up on last year’s drilling campaign.
Managing Director Thomas Line says the beginning of drilling at Southwest marks “the start of an important next phase of exploration” for the company, after identifying grades up to 54 grams per tonne PGE3.
“Early visual observations from the new program have already identified net-textured to semi-massive sulphide mineralisation at shallow depths, providing further geological confirmation of the primary magmatic sulphide system we are targeting,” Line says.
“With five drill rigs progressively mobilising, the upcoming program is designed to rapidly expand the Southwest discovery while also advancing resource definition drilling and testing additional high-priority targets across the broader Dante Project.”
Three of the mobilising drill rigs will conduct diamond drilling, while the other two will cover reverse circulation drilling.
Terra is focused on expanding and defining a resource at the Southwest prospect in H1 2026, following a recent $85 million placement.
As reported by Mining.com.au last month, the company is raising $85 million to fund exploration at Southwest, collecting support from major shareholders Golden Energy and Resources (GEAR), Tribeca Investment Partners, Matthew Latimore, and Martin Otway, as well as Washington H. Soul Pattinson and Company (ASX:SOL).
Terra Metals is focused on the development of its Dante Project, located in the West Musgrave region of Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Terra Metals
