Permian–Triassic extinction event
Asteroid impact

Evidence that an impact event may have caused the Cretaceous–Paleogene extinction has led to speculation that similar impacts may have been the cause of other extinction events, including the P–Tr extinction, and thus to a search for evidence of impacts at the times of other extinctions, such as large impact craters of the appropriate age. However, suggestions that an asteroid impact was the trigger of the Permian-Triassic extinction are now largely rejected.

Reported evidence for an impact event from the P–Tr boundary level includes rare grains of shocked quartz in Australia and Antarctica; fullerenes trapping extraterrestrial noble gases; meteorite fragments in Antarctica; and grains rich in iron, nickel, and silicon, which may have been created by an impact. However, the accuracy of most of these claims has been challenged. For example, quartz from Graphite Peak in Antarctica, once considered "shocked", has been re-examined by optical and transmission electron microscopy. The observed features were concluded to be due not to shock, but rather to plastic deformation, consistent with formation in a tectonic environment such as volcanism. Iridium levels in many sites straddling the Permian-Triassic boundaries are not anomalous, providing evidence against an extraterrestrial impact as the PTME's cause.

An impact crater on the seafloor would be evidence of a possible cause of the P–Tr extinction, but such a crater would by now have disappeared. As 70% of the Earth's surface is currently sea, an asteroid or comet fragment is now perhaps more than twice as likely to hit the ocean as it is to hit land. However, Earth's oldest ocean-floor crust is only 200 million years old as it is continually being destroyed and renewed by spreading and subduction. Furthermore, craters produced by very large impacts may be masked by extensive flood basalting from below after the crust is punctured or weakened. Yet, subduction should not be entirely accepted as an explanation for the lack of evidence: as with the K-T event, an ejecta blanket stratum rich in siderophilic elements (such as iridium) would be expected in formations from the time.

A large impact might have triggered other mechanisms of extinction described above, such as the Siberian Traps eruptions at either an impact site or the antipode of an impact site. The abruptness of an impact also explains why more species did not rapidly evolve to survive, as would be expected if the Permian–Triassic event had been slower and less global than a meteorite impact.

Bolide impact claims have been criticised on the grounds that they are unnecessary as explanations for the extinctions, and they do not fit the known data compatible with a protracted extinction spanning thousands of years. Additionally, many sites spanning the Permian-Triassic boundary display a complete lack of evidence of an impact event.
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