Terra Metals (ASX:TM1) confirmed a second platinum group metal-copper-nickel sulfide discovery at the Southwest prospect within the Dante project in Western Australia through initial assays from first-pass reconnaissance drilling at the SW5 target, according to a Wednesday filing with the Australian bourse.

The SW5 discovery, located about 800 meters south of SW6, also confirmed the presence of platinum group metal-sulfide mineralization at multiple locations across the Southwest area, the filing said.

Assays are pending for all reported visual sulfides from Southwest, per the filing.

Shares surged 25% in afternoon trade Wednesday.