Terra Metals (ASX:TM1) said drilling results from the Southwest discovery at the Dante project in Western Australia, confirming a continuous platinum-group-metal, nickel, and copper sulfide system hosted within an ultramafic package between the SW5 and SW6 discovery zones, according to a Wednesday Australian bourse filing.

The intercepts include 194 meters at 0.71 grams per tonne (g/t) grade of platinum, palladium, and gold (PGE3) and 0.1% grade of nickel from 58 meters to end-of-hole, 105 meters at 0.87 g/t grade of PGE3 from 183 meters to end-of-hole, as well as 76 meters at 0.87 g/t grade of PGE3 and 0.2% grade of nickel from 170 meters to end-of-hole.

The discovery remains at an early stage, with drilling to date identifying multiple large mineralized sulfide units that remain open in all directions, the company said. Multiple rigs continue extensional and infill drilling.

Terra Metals' shares fell nearly 4% in recent trading on Wednesday.