- Podium Minerals (POD) shares are trading in the green after the company announced an increased mineral resources estimate for the Parks Reef Project in Western Australia
- Recent drilling at the project culminated with 2.2 million ounces of combined platinum, palladium and gold plus base metal credits with 79,000 tonnes copper
- According to Podium, the total resources extend over approximately 15 kilometres of strike at the project
- Podium Minerals Executive Chairman Clayton Dodd said he was pleased to report the upgrade
- Podium Minerals shares were up 2.13 per cent to trade at 48 cents
Podium Minerals (POD) shares are trading in the green after the company announced an increased mineral resources estimate for the Parks Reef Project in Western Australia.
Recent drilling in the Western sector of the project has culminated with contained metals increasing to a total of 2.2 million ounces of combined platinum, palladium and gold plus base metal credits with 79,000 tonnes copper.
Inferred Mineral Resources at Parks Reef grew to 40.2 million tonnes at 1.54g/t platinum (Pt) plus palladium (Pd) plus gold (Au) equivalent (3E) at a cut-off grade of 1g/t 3E platinum group elements.
According to Podium, the total resources extend over approximately 15 kilometres of strike of Parks Reef, with mineral resources defined to a depth of 100 metres below the surface.
Podium Minerals Executive Chairman Clayton Dodd said he was pleased to report the upgrade.
“It’s a credit to our geological team over the past twelve months to complete various drill programmes along the full strike length of Parks Reef primarily targeting the top 100 metres, resulting in a significant new resource estimate,” he said.
“Recently we have drilled below 100m intersecting PGM mineralisation with a view of increasing the resources and shortly will commence the Parks Reef deeps, diamond drilling programme.”
The company has laid plans for further reverse circulation drilling to test what is believed to be high grade near-surface mineralisation not previously tested.
Podium Minerals shares were up 2.13 per cent at 3:57 pm AEST to trade at 48 cents.