- Podium Minerals (POD) announces initial results from its stage nine drilling at the Parks Reef project in WA’s Mid-West region
- The company received results from the first 11 holes drilled, which intersected high-grade platinum, palladium and gold (3E PGM) zones near the surface
- Standout intersections include 15 metres at 3.88 grams per tonne (g/t) 3E PGM
- Seven of the 11 holes returned intercepts greater than or equal to 1 g/t 3E PGM, with several results supporting the potential for higher-grade zones within the area of the current MRE
- Shares in Podium Minerals were up 4.41 per cent this morning to $0.36 as of 10:06 am AEST
Podium Minerals (POD) has announced initial results from its stage nine drilling at the Parks Reef project in WA’s Mid-West region.
The drilling program included 22 holes, totalling 2600 metres, targeting potential mineralisation extensions in the areas of faulting or disruption.
Podium has now received results from the first 11 of the 22 holes drilled, which intersected high-grade platinum, palladium and gold (3E PGM) zones near the surface.
Standout intersections include 15 metres at 3.88 grams per tonne (g/t) 3E PGM from 17 metres and 27 metres at 2.23 g/t 3E PGM from nine metres.
Notably, seven of the holes returned intercepts greater than or equal to 1 g/t 3E PGM, with several results supporting the potential for higher-grade zones within the area of the current mineral resource estimate, which currently stands at 2.9 million ounces of 3E PGM.
Further assaying of these intersections are scheduled to test for highly valuable rhodium, iridium and base metals copper and nickel to support the value proposition of these holes, with the results to be received in June.
Managing Director and CEO Sam Rodda said this is the “perfect time” to be associated with platinum group metals due to its importance in Australia’ critical minerals strategy.
“Demand for PGM’s globally remains strong as the use of platinum and palladium in auto catalysts continues to play a key role in managing vehicle emissions in line with greenhouse gas emission targets globally,” Mr Rodda said.
“Platinum is also shaping up as a key catalyst ingredient in PEM hydrogen fuel cells supporting the new clean hydrogen economy.”
Podium is currently undertaking its stage 10 drill program of 9400 metres, which began in late March.
Shares in Podium Minerals were up 4.41 per cent this morning to $0.36 as of 10:06 am AEST.