- Podium Minerals (POD) has intersected high-grade platinum, palladium and copper at the Parks Reef Project in WA
- The company has undertaken a 7000-metre resource drilling program to extend the mineral resource along the entire 15-kilometre strike
- Currently, Parks Reef’s mineral resource has been defined over 8.5 kilometres of the total strike length
- combined equivalent platinum, palladium and gold grades peaked at 25.74g/t with typically thick mineralisation
- Further drill results are expected over the next two months
- Podium is up 3.23 per cent and shares are trading at 16 cents
Podium Minerals (POD) has intersected high-grade platinum, palladium and copper from resource drilling at the Parks Reef Project in Western Australia.
This drilling is part of a 7000-metre program aimed at extending the mineral resource along the full 15-kilometre strike length.
So far, drilling has delivered inferred mineral resources of 1.39 million ounces of combined equivalent platinum, palladium and gold (PGM) as well as 53,900 tonnes of copper.
This mineral resource has been defined over 8.5 kilometres of the known 15-kilometre strike.
Once resource drilling has wrapped up, infill and depth extension drilling will be undertaken to support a scoping study which is targeted for the third quarter.
Today’s results complete the current resource drilling in the eastern sector of the project, with drilling now spanning about 3.2 kilometres of strike.
Latest and best results include seven metres at 5.75g/t PGM from 89 metres including one metre at 25.74g/t PGM from 91 metres, six metres at 3.75g/t PGM from 142 metres including one metre at 15.29g/t PGM from 142 metres.
Copper results include one metre at 1.98 per cent copper and 2.09g/t PGM from 62 metres within six metres at 0.5 per cent copper and 0.98g/t PGM from 62 metres.
“These latest results in Parks Reef represent the most significant intersections achieved to date in terms of both thickness and grade, and which will be included in modelling for the next upgrade of the already substantial resource base of 1.4 million ounces of 3E PGM,” Executive Chairman Clayton Dodd said.
Podium expects to release further results from the centre of the project in April and May.
Podium is up 3.23 per cent and shares are trading at 16 cents at 2:05 pm AEDT.