• Visual sulfides logged in multiple recently completed diamond drill holes at the Southwest Prospect
• Sulfide assemblage consistent with magmatic Ni-Cu-PGM-Co sulfide mineralisation
• Newly drilled sulfide zones occur within, below, and adjacent to thick titanium-vanadium-magnetite reefs

Terra Metals Limited (ASX:TM1) is pleased to report that ongoing drilling at the Southwest Prospect, located within the Dante Project in the West Musgrave region of Western Australia, has intersected multiple new zones of massive, semi-massive and net-textured sulfides in recently completed diamond drill holes, based on visual observations of the drill samples. These sulfide zones are visually logged as containing pentlandite, chalcopyrite and pyrrhotite, consistent with a magmatic nickel-copper-cobalt sulfide system. Disseminated, net textured, and semi-massive, and massive sulfide textures have been observed in multiple holes. The new sulfide intercepts occur outside and below the thick titanium-vanadium reefs reported in the first four drillholes (assays pending) and provide further evidence that higher-grade sulfide mineralisation may be present within the broader intrusive system. Key observations from recent drilling include multiple zones of massive and semi-massive sulfides logged in diamond core from step-out drilling beneath earlier intercepts, net-textured sulfide mineralisation identified at multiple depths across separate holes indicating continuity along the reef contact, and increased copper-nickel sulfide proportions observed downhole relative to overlying zones, possibly reflecting interaction with a magmatic feeder conduit. The geological and textural observations provide a strong framework for interpreting the genesis of the Dante system within a broader magmatic context. Assays from this drilling are pending with the first laboratory results expected to be reported shortly and the remainder anticipated be reported progressively over the next three months.

The Southwest Prospect has rapidly emerged as a new cornerstone growth opportunity within the Dante Project, underpinned by a compelling convergence of geological, geochemical and geophysical evidence. Recent field programs have identified extensive reef and cumulate horizons, confirmed the presence of sulfide mineralisation, and delineated strong platinum group element geochemical signatures. These features are accompanied by the discovery of thick cumulate layers with coarse-grained textures, and multiple high-priority EM anomalies that collectively enhance the potential scale and metal tenor of the Southwest Prospect.