DRILL RESULTS CONFIRM EXTENSION OF PGM-CU-NI MINERALISATION

Key points

• New drill results confirm extension of high-grade PGM-Cu-Ni mineralisation at Southwest
• Broad zones of mineralisation extend well beyond previously reported intercepts
• Five drill rigs are operating, with more than 56,000m of drilling completed
• Exploration focused on delivering a maiden Mineral Resource Estimate at Southwest

Full summary

Terra Metals Limited (ASX: TM1) has reported further diamond tail drilling results from the Southwest Discovery at the Dante Project, confirming the scale and continuity of the PGM-Cu-Ni mineralised system within the Southwest Main Sulfide Corridor. The latest results from SWRD057, SWRD055, and SWDD018 define broad zones of 3E (Platinum + Palladium + Gold) mineralisation within the mafic-ultramafic package, with multiple high-grade 3E reefs occurring within the broader mineralised intervals. SWRD057 returned 52m @ 0.96g/t 3E, 0.11% Cu, and SWRD055 returned 232m @ 0.84g/t 3E, 0.15% Ni. SWDD018 supports the interpretation that PGM-Cu-Ni mineralisation continues to the north. With five rigs currently operating at Dante, Terra Metals continues to test the scale, continuity, and grade distribution of the mineralised system. Further diamond tail assays are expected over the coming weeks as the company works towards a maiden Mineral Resource Estimate (MRE) for the Southwest Discovery.

Guidance

Terra Metals expects further diamond tail assays over the coming weeks.

Outlook

Terra Metals is focused on delivering a maiden Mineral Resource Estimate (MRE) at Southwest by late 2026, with ongoing exploration and drilling expected to expand the mineralised footprint.