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Terra Metals Limited (ASX:TM1)

ALERT: Price-sensitive ASX Announcement for TM1
Current share price for TM1 : $0.220 -0.06 (-21.43%)+
Announcement
Release
18 Jun 2026 9:23AM
Price at Release
$0.280
Full Release
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Summary
Terra Metals Limited, operating in the West Musgrave region of Western Australia, has reported significant findings from its Dante Project. The project is part of the Jameson Layered Intrusion, a large mafic-ultramafic system. Recent drilling in the Southwest Discovery area has revealed a vast sulfide system containing platinum group metals (PGM), copper, nickel, and cobalt. The Southwest Discovery is an emerging large-scale magmatic sulfide system, separate from the existing 148 Mt Dante Mineral Resource, and is still open along strike and at depth. The company's exploration has successfully delineated mineralisation over significant strike and width with substantial down-dip extent, with assays pending for many drill holes, indicating potential for further growth of this new mineralised corridor.
Key Points
  • Assessment and drill testing of Southwest Analogues in the Dante Project.
  • Ongoing drilling expands the Southwest Discovery sulfide system.
  • SWRC058 and SWRC033 drill holes show high-grade PGM-Cu-Ni-Co mineralisation.
  • The Southwest Discovery represents a significant new sulfide system outside the existing Dante Mineral Resource.
  • Terra Metals controls about 80 km of strike within the Jameson Layered Intrusion.
  • The project area is geologically comparable to major global layered intrusion systems.
  • Future work includes metallurgical testwork and flowsheet development for potential scoping or pre-feasibility study.
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.