- Podium Minerals (POD) expands mineralisation of the exploration target at its Parks Reef project in Western Australia
- Holes from stage 10 drilling successfully intercepted mineralisation at the upper end of the company’s expectations
- Initial assay results from four of the 35 reverse circulation drill holes extended the resource vertically to 250 metres
- All of the intercepts from stage 10 will be tested for rhodium iridium, and base metals ahead of the 5E PGM resource upgrade
- Shares in the company last traded at 35 cents each
Podium Minerals (POD) has expanded mineralisation of the exploration target at its Parks Reef project in Western Australia.
Holes from stage 10 drilling successfully intercepted mineralisation at the upper end of the company’s expectations.
Initial assay results from four of the 35 reverse circulation drill holes extended the resource vertically to 250 metres.
One hole intersected 1.77 grams per tonne (g/t) of platinum, palladium and gold (3E PGM) from 76 metres, including one metre at 12.65 g/t of 3E PGM from 109 metres.
All of the intercepts from stage 10 will be tested for rhodium, iridium, and base metals ahead of the 5E PGM resource upgrade.
Managing Director and CEO Sam Rodda said the company is continuing to progress drilling activities.
“As Podium finalises the stage 10 campaign, we have already begun working on the approach for the next phase of exploration to a depth of about 350 metres,” he said.
“This will be followed with the commencement of further tight-space infill drilling to build
geological confidence in the identified higher-grade zones.
“This will all contribute to a scoping study that will support our trajectory towards becoming Australia’s first PGM producer.”
Shares in the company last traded at 35 cents each.