Terra Metals Intersects Platinum Group Metal-Copper-Nickel Sulfide Mineralization at Western Australia Project; Shares Down 18%

MT Newswires Live10-14

Terra Metals (ASX:TM1) intersected zones of platinum group metal-copper-nickel sulfide mineralization during shallow reverse circulation at the Southwest discovery at its Dante project in Western Australia, according to a Wednesday filing with the Australian bourse.

Drilling returned 194 meters at 1.01 grams per tonne (g/t) PGE3 (the sum of platinum, palladium, and gold) and 0.2% nickel from 15 meters, including 24 meters at 1.84 g/t PGE3, 0.2% copper, 0.27% nickel from 43 meters, and 5 meters at 2.94 g/t PGE3, 0.3% copper, 0.4% nickel from 49 meters, the filing said.

Over 40,000 meters of drilling results are awaiting assays, and with five rigs continuing to drill, per the filing.

Shares fell nearly 18% in midday trade Wednesday.

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