- Recent results from Podium Minerals’ (POD) Parks Reef Project in Western Australia confirm it as a 5E platinum group metal (PGM) orebody
- Podium has completed the analysis of archived pulp samples to test for all platinum group elements (PGE) and to confirm the presence of rhodium and iridium along the orebody
- The newly tested intercepts returned up to 5.55g/t 3E PGM, 0.23g/t rhodium and 0.13g/t iridium
- The results show an average increase in 5E PGM grade from 3E PGM grade between five to six per cent
- Podium is down 5.66 per cent on the market with shares trading at 50 cents
Recent results from Podium Minerals’ (POD) Parks Reef Project in Western Australia have confirmed it as a 5E platinum group metal (PGM) orebody.
Podium has completed the analysis of archived pulp samples to test for all platinum group elements (PGE) and confirm the presence of rhodium and iridium along the 15-kilometre long orebody.
Newly tested intercepts include 13 metres at 3.87g/t 3E PGM, 0.15g/t rhodium and 0.10g/t iridium for a total of 4.12g/t 5E PGM from 34 metres including one metre at 5.55g/t 3E PGM, 0.20g/t rhodium and 0.13g/t iridium for a total of 5.88g/t 5E PGM from 37 metres.
The results show an average increase in 5E PGM grade from 3E PGM grade between five to six per cent, and on average, rhodium and iridium represent a three to four per cent and one to two per cent of the total 5E PGM grade, respectively.
Additionally, the high-grade rhodium and iridium add 30 per cent to the weighted value of a Parks Reef PGM ounce based on the current prices.
“These results place us well on the path to being Australia’s first 5E platinum group metals producer with our 15-kilometre long Parks Reef Project revealing the presence of high-grade, high-value rhodium and iridium throughout the orebody, both of which are extremely valuable metals,” CEO and Managing Director Sam Rodda said.
Podium was down 5.66 per cent on the market with shares trading at 50 cents at 11:18 am AEST.