‘Closely match our model’: Podium obtains strong PGM grades with Parks Reef results

• Drilling confirms Parks Reef geological, resource model.
• PGM Zone intercept widths ranged from 10 to 24m downhole, significant new high-grade intercept at approximately 96m depth
• 3E mineral distribution profiles consistent with previous drilling.

Podium Minerals (ASX:POD) has identified platinum group elements (PGMs) in all 17 holes of a recently completed metallurgical and resource extension drilling program at the Parks Reef project in Western Australia.

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The now completed drilling program of sulphide metallurgical diamond holes intersected both the PGM Zone and Cu-Au Zone at expected depths, confirming the Parks Reef geological and resource model.

3E – palladium, platinum and gold – results have now been received for the 17 PQ diamond holes drilled at different locations across the Target Starter Mine 1 (area 1) and Target Starter Mine 2 (Area 2) locations at the Parks Reef deposit.

Podium’s latest drilling was highlighted by a significant new high-grade intercept at approximately 96m depth in one of the PQ diamond holes, while assay results from holes drilled in Area 2 have confirmed PGM Zone and Cu-Au Zone continuity at the eastern extension of the Parks Reef deposit.

The explorer’s MD and CEO, Rod Baxter, said the substantial drilling footprint of around 3.3km has delivered approximately two tonnes of representative sample for ongoing metallurgical test work.

“We are very pleased with these initial results from the 17 PQ diamond holes drilled in our recent Parks Reef drilling campaign,” Mr Baxter said.

“The primary purpose of the reported holes was the collection of a substantial volume of bulk sulphide material to feed our ongoing metallurgical test work program which is focussed on flowsheet validation and delivering further concentrator flowsheet performance improvements. Importantly, these holes also enable further structural and geological understanding of the Parks Reef deposit.

“To this end, these assay results confirm the strong continuity of mineralisation at Parks Reef, with broad PGM Zone intercepts extending over downhole widths of 10 to 24m and delivering robust average grades across the program area.

“Importantly, these results closely match our current geological and structural model, with 15 of the 17 PQ holes defining discrete high-grade hanging wall and footwall domains. This supports potential selective mining and feed-grade optimisation opportunities at Parks Reef.”

Mr Baxter confirmed that several rhodium and iridium assay results are expected in the coming weeks. “We look forward to receiving the rhodium and iridium assays, which are still pending for four of the 17 PQ holes, along with results from the remaining deeper diamond holes, which were designed to test the potential for continued Parks Reef mineralisation at depth,” he said today.

POD is steady at 4.8¢. Mkt cap $47.50M.

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