Terra Metals (ASX: TM1) Drilling Defines Stacked High-Grade Reefs at Southwest

Terra Metals has reported broad platinum-group-metal mineralisation and multiple higher-grade reef zones from drilling at its Southwest discovery in Western Australia, adding definition to a system the company is preparing for a maiden mineral resource estimate.

The strongest result came from hole SWRD054, which returned 14 metres at 3.13 grams per tonne 3E from 411 metres, including five metres at 5.45 grams per tonne from 413 metres.

That higher-grade interval also contained 0.28% nickel and 0.24% copper. Terra defines 3E as the combined grade of platinum, palladium and gold.

Broad Zones With Higher-Grade Reefs

SWRD054 also intersected 79.8 metres at 1.30 grams per tonne 3E from 302 metres, with associated grades of 0.21% nickel and 0.13% copper.

That interval sat within a broader 210-metre zone grading 0.83 grams per tonne 3E and 0.16% nickel from 189 metres.

A separate reef returned 20.7 metres at 2.32 grams per tonne 3E from 409.3 metres, while deeper drilling intersected 1.29 metres at 18.62 grams per tonne from 558.75 metres.

Hole SWRD056 delivered another 210-metre mineralised interval grading 0.97 grams per tonne 3E from 171 metres.

Within that broader zone, Terra reported 44 metres at 1.41 grams per tonne from 174 metres and 42 metres at 1.37 grams per tonne from 298 metres. Both intervals also contained nickel and copper mineralisation.

SWDD019 returned 124.2 metres at 0.59 grams per tonne 3E and 0.10% nickel, including internal reefs of 11 metres at 1.29 grams per tonne and 9.5 metres at 1.42 grams per tonne.

Focus Shifts Toward Resource Definition

Each of the three holes contained multiple intervals grading more than one gram per tonne 3E, supporting Terra’s interpretation of repeated higher-grade reefs within the broader Southwest mineralised package.

The discovery has now been traced over more than 1.1 kilometres of strike, across a width of about 700 metres and at least 750 metres down dip from surface.

The system remains open along strike and down dip.

However, the reported intersections are downhole lengths and Terra has not yet established true widths with sufficient confidence. Southwest also remains without a Mineral Resource Estimate.

The discovery is separate from Terra’s existing 148-million-tonne Dante Basal Reefs Mineral Resource.

Chief Executive Officer and Managing Director Thomas Line said Southwest was moving into a more advanced phase of geological definition.

Maiden Resource and Metallurgical Work

Terra is incorporating oriented drill core, structural measurements, downhole televiewer data and geophysical information into its geological model.

The planned maiden Southwest Mineral Resource Estimate will provide the first formal estimate of tonnage and grade and begin defining the distribution of higher- and lower-grade domains across the system.

Metallurgical work is also progressing in parallel.

Flotation trials are assessing both bulk and separate concentrate options for copper, nickel and precious metals, including recoveries, metal deportment, concentrate quality and potential product pathways.

Further work will include assays from completed drilling, testing of extensional targets and additional drilling aimed at defining higher-grade domains.

Geological modelling and metallurgical testwork will continue ahead of subsequent technical studies, with the key test now whether Terra can convert Southwest’s broad drill intercepts and repeated higher-grade reefs into a coherent, economically meaningful resource.