Special Report: The scale of Terra Metals’ potentially game-changing Southwest platinum group metals discovery at its Dante project in WA continues to grow with a new drill hole linking what was thought to be two separate zones.
- Infill sampling links 172m zone of high-grade platinum group metals mineralisation at Terra’s Southwest discovery
- Mineralisation expected to continue along strike and at depth
- Continues to shape as major Australian nickel-copper-PGE discovery
And it includes a section running at an ounce to the tonne of 3E PGEs, the high value precious metals platinum, palladium and gold.
Infill sampling between Terra’s (ASX:TM1) discovery holes SWRC031 and SWDD006, which were drilled last year, has picked up a 172.4m zone at 1.11g/t PGE3, 0.11% copper and 0.15% nickel from 172m to end of hole at 344.4m.
Highlights within that major mineralised interval were:
- 61m at 1.41g/t PGE3, 0.13% Cu, 0.19% Ni from 172m;
- 0.3m at 31.11g/t (1.0 oz/t) PGE3, 0.55% Cu, 1.31% Ni from 226.6m; and
- 25.2m at 2.28g/t PGE3, 0.19% Cu, 0.17% Ni from 267.1m.
First time assays from diamond hole SWDD004, which twinned SWRC025 in the SW5 discovery zone, also extended mineralisation between previously known depths, striking 14.7m at 0.7g/t PGE3, 0.25% Cu, 0.31% Ni, 11.35% titanium dioxide and 0.47% vanadium pentoxide.
New mineralisation was discovered in SWDD003 at the SW1 zone, hitting it beyond previous levels including:
- 14.7m at 0.61g/t PGE3, 0.11% Cu from 218.4m, including 2.3m at 1.06g/t PGE3 from 225m;
- 1.2m at 1.28g/t PGE3, 0.13% Cu, 0.12% Ni from 241m; and
- 3.8m at 1.20g/t PGE3, 0.31% Cu, 0.14% Ni from 250.3m.
More growth ahead
Terra believes that hole clipped the upper edge of the high-grade zone intersected over 172.4m in the SWRC031/SWDD006 holes.
That suggests there’s thicker, higher grade mineralisation directly below, presenting a priority target for future drilling.
“These final results fundamentally change how we view the Southwest system,” Terra Metals CEO and MD Thomas Line said.
“What we previously reported as two separate intercepts in SWRC031 and SWDD006 is now confirmed as a single, continuous 172-metre zone of PGM–Cu–Ni mineralisation to end-of-hole — with bonanza-grade hits up to 1 oz/t PGE3 inside it.
“Equally exciting is what our integrated section interpretation is telling us about what lies beneath: the mineralisation intersected at the base of SWDD003 appears to clip the upper margin of this same high-grade zone, suggesting the thickest, highest-grade material plunges below our current drilling at SW1.
“With consistent nickel grades through the entire interval, fresh hits in SWDD003 and SWDD004, and clear evidence the system is open at depth, we believe Southwest has the hallmarks of an emerging large-scale, high-grade PGM-copper-nickel discovery.”
Located near the border of WA and SA, Southwest is shaping as one of the largest PGM discoveries in Australia at a time when platinum and palladium prices are running high on precious metals demand and underinvestment in South Africa’s world-leading PGM mines.
Mineralisation remains open along strike and at depth.
Dante hosts a resource of 148Mt at 14.8% TiO2, 0.54% V2O5, 0.18% Cu and 0.33g/t PGE3 for a copper equivalent grade of 1.38%.
But its shares have run 120% higher YTD on the emergence of the major PGM discovery at Southwest.
This article was developed in collaboration with Terra Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.