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Terra Metals Limited (ASX:TM1)

ALERT: Price-sensitive ASX Announcement for TM1
Current share price for TM1 : $0.225 0.07 (45.16%)+
Announcement
Release
29 Oct 2025 9:09AM
Price at Release
$0.155
Full Release
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Summary
Terra Metals Limited has announced the successful interception of massive sulfides at the Southwest Prospect within the Dante Project in the West Musgrave region of Australia. The drilling has revealed multiple zones of massive, semi-massive, and net-textured sulfides, indicative of a magmatic nickel-copper-cobalt-palladium-platinum sulfide system. These findings suggest a large-scale mineralized system with potential for high-grade base and precious metal accumulations. The sulfide zones are located within and below thick titanium-vanadium-magnetite reefs, pointing to dynamic geological processes involving repeated magma injections. Assay results for these observations are pending, and further drilling and downhole electromagnetic surveys are ongoing to enhance targeting efforts.
Key Points
  • Massive sulfides intercepted at Southwest Prospect.
  • Visual sulfides logged in recently completed diamond drill holes.
  • Sulfide assemblage includes pyrrhotite, chalcopyrite, and pentlandite.
  • Sulfides consistent with magmatic Ni-Cu-PGM-Co sulfide mineralisation.
  • Continuity of layered sulfide zones observed across multiple drillholes.
  • Assay results pending, expected to be reported progressively.
  • CEO highlights potential large-scale, multi-commodity discovery.
  • Ongoing downhole electromagnetic surveys, diamond drilling, and RC-diamond tails.
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.