Terra Metals Says Drilling Encounters Mineral System at Western Australia Project

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Terra Metals (ASX:TM1) said multiple wide intercepts confirm a potentially globally significant platinum group metal sulfide system at the SW6 prospect, southwest of its Dante Project in Western Australia, according to a Tuesday Australian bourse filing.

The results were of up to 61 metres at 1.41 grams per tonne grade of palladium, platinum, and gold, 0.13% copper, and 0.19% nickel, from a depth of 172 metres, including 35 metres at 1.59 g/t of PGE3 from 198 metres.

The company said that phase four drilling is set to commence next month, with four drill rigs being mobilized for its largest ever drill program, with up to 30,000 meters of diamond and reverse circulation drilling set to commence during March.

Drilling will focus immediately on testing the vertical and lateral extensions of the high-grade platinum group elements discoveries at SW5 and SW6, which remain open in all directions.

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