InvestSMART

Terra Metals Limited (ASX:TM1)

ALERT: Price-sensitive ASX Announcement for TM1
Current share price for TM1 : $0.235 -0.11 (-31.88%)+
Announcement
Release
17 Feb 2026 9:40AM
Price at Release
$0.345
Full Release
download
Summary
Terra Metals Limited announced significant findings from the Southwest SW6 Prospect, part of their Dante Project in Western Australia. The drilling results reveal a large, continuous high-grade platinum group metals (PGM)-copper-nickel sulfide system over an apparent thickness of more than 200 meters, which remains open at depth. Notably, the mineralization includes platinum-rich zones, complementing previously identified palladium-dominant areas. The discovery at SW6 is located 850 meters north of the high-grade SW5 discovery, highlighting the scale and continuity of the Southwest system. The presence of a substantial off-hole downhole electromagnetic conductor suggests further sulfide accumulation potential. The company plans to initiate Phase 4 of drilling to explore vertical and lateral extensions of the mineralized zones.
Key Points
  • Confirmation of a substantial PGM–Cu–Ni sulfide system at Southwest SW6.
  • High-grade mineralization includes both platinum and palladium-rich zones.
  • Drilling reveals a mineralized zone exceeding 200 meters in apparent thickness.
  • SW6 located 850 meters north of the SW5 high-grade discovery.
  • Presence of large off-hole downhole electromagnetic conductor indicating potential for further sulfide accumulation.
  • Phase 4 drilling to commence, focusing on extensions of existing high-grade zones.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.