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- Podium Minerals (POD) flags further high-grade platinum group metal (PGM) intersections at its Parks Reef project in WA through its latest batch of assay results
- The company struck PGM mineralisation in all 17 holes reported today, continuing its 100-per-cent success rate in striking PGM mineralisation through its stage 10 drilling program
- The company consistently reports assay results above 1.2 g/t 3E PGM from the project, with today’s results including an intersection of over 6.0 g/t 3E PGM
- Podium Managing Director and CEO Sam Rodda says the new results will be incorporated into the next Parks Reef resource model
- Shares in Podium Minerals are up 4.76 per cent to trade at 22 cents at 10:40 am AEST
Podium Minerals (POD) has flagged further high-grade platinum group metal (PGM) intersections at its Parks Reef project in WA through its latest batch of assay results.
The company said each of the assays received from another 17 holes recently drilled at the project showed PGM mineralisation, taking the total number of assays now received from the stage 10 drilling program to 41.
Podium has intersected the PGM reef within the Parks Reef project area in 100 per cent of the holes drilled so far. The company said the results from the program were in line with its projected orebody widths and in the higher half of its expected grade.
The latest results include a four-metre intersection at 1.45 grams of three-element PGM per tonne (g/t 3E PGM) from 158 metres. Specifically, the three elements are 0.82 g/t platinum, 0.42 g/t palladium, and 0.21 g/t gold.
Podium also struck a 10-metre intersection at 2.18 g/t 3E PGM from 170 metres, which included a two-metre zone at 6.09 g/t 3E PGM.
Managing Director and CEO Sam Rodda said the latest results from the stage 10 program continued to demonstrate the consistent nature of the Parks Reef deposit.
“This consistency allows greater confidence in the geological modelling and study scenarios considered by Podium,” Mr Rodda said.
“An exciting highlight of these results is the identification of higher-grade intersections, which will inform the selection of infill drilling areas for a proposed starter mine.”
He saidthe new results would be incorporated into the next Parks Reef resource model.
With assays for 41 holes received, Parks Reef is now awaiting the results for the final 10 holes from the stage 10 program.
The program was designed to prove Podium’s exploration target in the Parks Reef area of between 70 and 75 million tonnes at between 1.2 g/t and 1.6 g/t 3E PGM.
Shares in Podium Minerals were up 4.76 per cent to trade at 22 cents at 10:40 am AEST.
