• First assays confirm a new platinum group metal (PGM)-copper-nickel sulfide discovery at SW6 target
• Drill holes intercepted multiple zones of high-grade PGM mineralisation, with both holes ending in rich mineralisation
• Downhole electromagnetic survey identified a robust off-hole conductor, suggesting the mineralised system may be thickening or upgrading down-dip

Terra Metals Limited (ASX:TM1) is pleased to report that initial assay results from first-pass drilling at the SW6 target within the Dante Project have confirmed significant platinum group metal (PGM), copper (Cu) and nickel (Ni) sulfide mineralisation, establishing a new mineralised zone within the broader Southwest Prospect. The first two drillholes reported from reconnaissance RC drilling at SW6 have intersected multiple intervals of elevated to high-grade PGM mineralisation, with both holes ending in mineralised ultramafic rocks. These results demonstrate that SW6 hosts a zone of PGM-Ni-Cu sulfide mineralisation that is geochemically and lithologically distinct from the magnetite-ilmenite-vanadium reef style previously identified at the Dante Project. At SWRC031, the subsequent diamond tail extension intersected multiple intervals containing visual sulfides, including net-textured to locally semi-massive sulfides. DHEM surveying has detected a coherent off-hole conductor positioned below and down-dip from the visually mineralised intervals, representing a logical target for follow-up drilling. The geochemical signatures observed at SW6 -- notably high MgO values, elevated Cr and Ni, and the association of PGM enrichment with ultramafic lithologies -- are consistent with a conduit-related magmatic environment, similar to significant PGM-Ni-Cu sulfide deposits globally.

The Company anticipates the 2025 drill program has potential to yield further new discoveries at the Dante Project, and looks forward to receiving and reporting the remaining assays.