- Re-assaying of recent drill samples from Podium Minerals (POD) Parks Reef project has returned “materially higher” results than previously reported
- The explorer re-assayed samples from five drill holes for the platinum group metals suite, including rhodium and iridium
- Notable findings from the revamped results returned seven metres at 5.75g/t 3E PGM, 0.32g/t rhodium and 0.14g/t iridium from 89 metres, including 0.29g/t iridium from 89 metres and one metre at 25.74g/t 3E PGM, 1.35g/t rhodium and 0.70g/t iridium from 91 metres
- Podium’s Executive Chairman Clayton Dodd said the company was delighted with the results
- Podium Minerals shares are up 7.06 per cent following the announcement, trading at 45.5 cents
Re-assaying of recent drill samples from Podium Minerals (POD) Parks Reef project has returned “materially higher” results than previously reported.
The explorer said high-grade platinum group metals (PGM) samples were selected from five drill holes from the western and eastern sectors of Parks Reef and re-assayed for the full PGM suite, including rhodium and iridium.
As a result, the samples returned higher than previously reported with the ASX-lister reporting a strong correlation between rhodium and iridium and the high 3E PGM grades.
Notable findings from the revamped results returned seven metres at 5.75g/t 3E PGM, 0.32g/t rhodium and 0.14g/t iridium from 89 metres, including three metres at 10.83g/t 3E PGM, 0.65g/t rhodium and 0.29g/t iridium from 89 metres and one metre at 25.74g/t 3E PGM, 1.35g/t rhodium and 0.70g/t iridium from 91 metres.
Previously reported rhodium recorded grades came in at between 0.08 and 0.16g/t.
Podium’s Executive Chairman Clayton Dodd said the company was delighted with the results.
“When combined with the results from the Platinum, Palladium and Gold assays from the same drill holes, unquestionably they represent the most significant results to date from Parks Reef,” he commented.
“With current Rhodium prices some 20 times and Iridium five times that of the current Platinum price, it doesn’t take a lot of grade of either to have a significant impact on the estimated weighted average price per Podium PGM ounce.”
Podium Minerals shares are up 7.06 per cent following the announcement, trading at 45.5 cents at 4:34 pm AEST.