Terra Metals Says Drilling Extends Western Australia Sulfide Corridor by 150 Meters of Strike; Shares Jump 4%

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Terra Metals Says Drilling Extends Western Australia Sulfide Corridor by 150 Meters of Strike; Shares Jump 4%

MT Newswires Live10:20

Terra Metals (ASX:TM1) said diamond drilling has extended the platinum group elements (PGE), copper, and nickel mineralization at the Southwest Main Sulfide Corridor, part of the Dante project in Western Australia, by 150 meters to over 1,100 meters of strike, according to a Thursday Australian bourse filing.

It encountered 275 meters at 0.91 grams per tonne (g/t) grade of PGE3 and 0.2% grade of nickel from 170 meters, as well as 114 meters at 0.95 g/t grade of PGE3 and 0.2% grade of nickel from 454 meters, the company said. PGE3 is the sum of platinum, palladium, and gold.

Ongoing drilling, geological interpretation, and geophysics continue to refine the system's geometry and controls, the company added.

Its shares jumped over 4% in recent trading on Thursday.

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