Terra Metals (ASX:TM1) confirmed a new high-grade platinum group metal discovery at the Southwest prospect, with assays from the SW5 drill program returning strong results.
Hole SWT008 intersected 14m averaging 6.71 g/t PGE³ from 68m, including 3m at 27.78 g/t PGE³ and a standout 1m interval grading 52.97 g/t PGE³ from 69m.
This is part of a broader 35m zone averaging 2.90 g/t PGE³ from 48m.
Mineralisation begins near surface, and the hole was terminated at 102m—138m short of its planned depth—suggesting further high-grade horizons may exist at depth.
The PGM-Cu-Ni mineralisation now spans an area of 850m by 450m, averaging approximately 50m in thickness, and remains open in all directions and down-dip.
Multiple visually identified sulfide intervals from previous drill holes are still pending assay results, offering additional near-term exploration upside.
Chief Metallurgist Dr Evan Kirby said, "I've worked on major platinum deposits around the world and never seen a hard rock drill intersection with PGM grades anywhere close to this SWT008 intersection."
At the time of reporting, Terra Metals’'share price was $0.35.