Highlights

  • Potentially globally significant PGM–Cu–Ni sulfide system confirmed at the SW6 Prospect, supported by multiple wide, high-grade intercepts.
  • Extensive mineralised thickness exceeding 200m, remaining open at depth beyond 348m, with the basal contact yet to be defined.
  • Platinum-rich mineralisation (up to 17.8g/t Pt) identified in the highest-grade zones, contrasting earlier palladium-dominant results and confirming a precious-metal-diverse system.
  • TM1 Share Price Structure Turns Positive After Holding Rising Trendline Support

Terra Metals Ltd (ASX: TM1) surged around 22% after reporting strong new assay results from three drill holes at the Southwest SW6 Prospect. Results confirm the scale and continuity of a large PGM–Cu–Ni sulfide system extending at least 850m between SW5 and SW6, with thick mineralisation exceeding 200m and remaining open at depth.

Terra Metals Update Reignites Investor Interest in Mineral Exploration

Terra Metals Ltd has significantly advanced the Southwest Project, confirming that high-grade PGM–Cu–Ni mineralisation forms part of a large, laterally extensive and vertically continuous magmatic sulfide system rather than isolated occurrences. New SW6 drilling intersected thick, continuous mineralisation from ~144m to beyond 348m depth, with all holes mineralised to end-of-hole and an apparent thickness exceeding 200m, remaining open at depth.

Results build on the ultra-high-grade SW5 discovery (up to 53g/t PGE3) and demonstrate repetition of mineralised centres over at least 850m of strike. Platinum-rich zones identified at SW6 highlight a metal-diverse, multi-phase system. A large off-hole DHEM conductor beneath high-grade intercepts provides a compelling depth target, supporting strong scale, continuity, and further discovery potential.

Terra Metals Holds Trendline Support — What Could Ignite the Next Upswing?

From a technical standpoint, TM1 remains firmly above its key rising trendline, with the recent gap-up opening reinforcing an already constructive price structure. The sharp upside move, backed by elevated trading volumes, reflects strong buying conviction and strengthens bullish momentum. The rising trendline continues to act as an important dynamic support, anchoring current price action. As long as TM1 holds above this support zone, the broader bullish structure should remain intact, keeping the near-term outlook biased to the upside and leaving scope for further gains.

Price action remains constructive, with the stock holding above its 50-period Simple Moving Average (SMA), underscoring underlying near-term strength. The 14-period Relative Strength Index (RSI) at 73.16 remains elevated, signalling strengthening bullish momentum following the recent recovery. On the upside, immediate resistance is seen near AUD 0.470 and AUD 0.500, where profit-taking or selling pressure may emerge and temporarily cap further advances.

Buyers Retain Control as Price Holds Above Key Support

Terra Metals Ltd (ASX: TM1)  maintains a bullish outlook, supported by strong SW5–SW6 drilling results confirming a large, high-grade PGM–Cu–Ni system. Technically, price holds above rising trendline support and the 50-period SMA, with strong volume signalling conviction. Further upside remains likely while key support holds.