- Podium Minerals (POD) intersects more high-grade five-element (5E) platinum group metals (PGM) at its Parks Reef project in Western Australia
- The company has received results for the final holes drilled under its stage nine and stage 10 programs
- Out of the final holes, nine achieved “significant” intercepts of more than 0.1 grams per tonne (g/t) rhodium
- The stage 10 program aimed to further define Podium’s exploration target in the area, and the results will be included in an updated mineral resource estimate in October
- Shares in Podium Minerals are up 11.54 per cent to 14.5 cents at 11:35 am AEDT
Podium Minerals (POD) has intersected more high-grade five-element (5E) platinum group metals (PGM) at its Parks Reef project in Western Australia.
The five PGM elements intersected include platinum, palladium, gold, rhodium and iridium.
Podium has now received results for the final holes drilled under its stage nine and stage 10 programs
The company said out of the final holes, nine achieved “significant” intercepts of more than 0.1 grams per tonne (g/t) rhodium.
The best new results include a 19-metre hit at 2.48 g/t 5E PGM from 76 metres, including two metres at 12.90 g/t 5E PGM from 88 metres.
Podium Managing Director Sam Rodda said with these results, the company had completed a “crucial step” in its path towards Parks Reefs’ development and growth.
“The presence of high-grade zones and confirmation of rhodium and iridium throughout the orebody will allow us to optimise our resource modelling and studies to consider these areas,” Mr Rodda said.
“Our workstreams remain focused on growing and understanding the orebody and testing our metallurgy for a preferred processing path as part of refining our path to production.”
The stage 10 program aimed to further define Podium’s exploration target of 70 million tonnes (Mt) to 75 Mt at 1.2 g/t to 1.6 g/t 3E PGM for 2.7 million ounces to 3.8Moz 3E PGM.
The latest results will be included in a mineral resource update for Parks Reef slated for delivery before the end of October.
Shares in Podium Minerals were up 11.54 per cent to 14.5 cents at 11:35 am AEDT.