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Terra Metals has advanced metallurgical testing and technical studies at its Southwest platinum group metal (PGM), copper and nickel discovery in Western Australia, boosting the project’s development pathway ahead of a maiden mineral resource estimate (MRE) in early 2027.
The company’s September quarterly report confirmed flotation testwork had progressed from rougher to cleaner trials, with mineralogical analysis identifying characteristics potentially favourable for conventional mineral processing.
At Southwest, located within Terra’s wholly owned Dante project in the West Musgrave region, platinum and palladium occur primarily as coarse telluride minerals associated with copper and nickel sulphides.
According to Terra, the mineralisation could support recovery of PGMs alongside base metals into a concentrate, while coarse-grained sulphides may allow for lower grinding and energy requirements.
The ongoing testwork is assessing a single bulk sulphide concentrate against separate copper and nickel concentrate options, with the first metallurgical results expected during the December quarter.
Meanwhile, technical drilling has commenced to collect geotechnical and groundwater information needed to support future pit design and development studies.
The progress comes as Terra continues defining the scale of Southwest, where approximately 76,000m of diamond and reverse circulation (RC) drilling has been completed during 2026.
It was previously noted that drilling extended the main sulphide corridor to approximately 1.35km along strike in October, with mineralisation remaining open along strike and at depth.
The system also extends approximately 700m across strike and at least 750m down-dip, with several broad intersections reinforcing the potential for a large-scale mining operation.
Previous drilling returned 200m at 0.75 grams per tonne (g/t) combined platinum, palladium and gold (3E) from surface, alongside 194m at 1.01g/t 3E from 15m.
These results build on earlier near-surface discoveries, with Terra considering the potential for bulk open-cut mining, subject to resource modelling and technical studies.
More than 40,000 drill samples remained at the laboratory at quarter-end, with further assays expected ahead of the maiden Southwest MRE, targeted for the first quarter of 2027.
Terra has also received heritage approvals across the immediate Southwest footprint, allowing resource-definition drilling to progress across the full interpreted strike.
The company reported $57.9 million in cash at September 30, following approximately $16.8 million in exploration and evaluation expenditure during the quarter.
With four rigs continuing operations in October, Terra said it is prioritising resource-definition drilling while progressing development studies and selected strike extensions.
The maiden MRE is expected to underpin a scoping study targeted for mid-2027, with pre-feasibility work to follow as the company evaluates Southwest’s potential development options.
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