- Podium Minerals (POD) doubles the Parks Reef inferred resource to 143 million tonnes for six million ounces at 1.3 g/t 5E platinum group metals (PGMs)
- The updated PGM horizon includes 0.64 g/t platinum, 0.52 g/t palladium, 0.07 g/t gold, 0.05 g/t rhodium and 0.02 g/t iridium
- Infill drilling and exploration drilling programs will now be completed as well as optimising mining methods and refining processing pathways
- The new resource comes from the recent drilling of the Parks Reef Exploration Target of 70 to 75 million tonnes in Podium’s stage 10 drilling program
- Shares in Podium are up 5.08 per cent and trading at 15.5 cents at 12:51 pm AEDT
Podium Minerals (POD) has doubled the Parks Reef inferred resource to 143 million tonnes for six million ounces at 1.3 grams per tonne (g/t) 5E platinum group metals (PGMs).
The updated PGM horizon includes 0.64 g/t platinum, 0.52 g/t palladium, 0.07 g/t gold, 0.05 g/t rhodium and 0.02 g/t iridium, as well as 94,000 tonnes of copper, 127,000 tonnes of nickel and 24,000 tonnes of cobalt.
The new resource comes from the recent drilling of the Parks Reef Exploration Target of 70 to 75 million tonnes in Podium’s stage 10 drilling program.
Infill drilling and exploration drilling programs will now be completed as well as optimising mining methods and refining processing pathways.
“The most exciting part of this orebody resource programme is the successful definition of the high-grade zones within the total PGM reef width,” CEO and Managing Director Sam Rodda said.
“These high-grade zones have mining widths suitable for selective open-cut mining as well as underground stoping methods, these zones will allow our study team to consider options of higher grade mining and processing versus bulk methods to optimise value at Parks Reef.”
Shares in Podium were up 5.08 per cent and trading at 15.5 cents at 12:51 pm AEDT.