Join our daily newsletter At The Bell to receive exclusive market insights
- Podium Minerals (POD) strikes high grade platinum group metals from the Central Ore Zone of the Parks Reef orebody in Western Australia
- The company received results from six holes drilled as part of the stage nine and 10 programs, which returned up to 11.48 g/t platinum group metals from 88 metres
- The remaining three assay results are due in September, and offer the potential to provide significant data for ongoing assessments
- Podium says the intercepts will continue to be assayed for rhodium, iridium and base metals, which will inform the platinum group metal resource upgrade, slated for October
- Company shares are up 2.86 per cent to trade at 18 cents at 10:31 am AEST
Podium Minerals (POD) has struck high grade platinum group metals (PGM) from the Central Ore Zone of the Parks Reef orebody in Western Australia.
Podium drilled nine Central Ore Zone holes in early July, conducted on 200 metre-spaced stations in three lines.
The company received results from four holes drilled as part of the stage nine program, along with two from stage 10.
Highlighted results included 16 metres at 2.51 grams per tonne (g/t) 3E PGM, made up of 1.69 g/t platinum, 0.8 g/t palladium and 0.01 g/t gold, from 76 metres.
The intersection included two metres at 11.48 g/t 3E PGM including 8.52 g/t platinum, 2.94 g/t palladium and 0.03 g/t gold from 88 metres.
Managing Director and CEO Sam Rodda said the results are exciting for both Podium and shareholders.
“The Central Ore Zone was previously identified to potentially contain higher grades than the surrounding resource, so it is pleasing to see the geological model supported with these results,” Mr Rodda said.
“More importantly, if the remaining three holes due in early September continue to confirm the consistent ore grade, it will provide significant data for our ongoing assessment and planning for an initial mining approach.”
The stage nine and 10 intercepts will continue to be assayed for rhodium, iridium and base metals, which will inform the PGM resource upgrade, which is slated for October.
“With multiple high-grade zones now identified, our experienced project development team will incorporate these results into the ongoing conceptual mine design work and hydrometallurgy test work that is underway,” Sam Rodda said.
Podium Minerals was up 2.86 per cent to trade at 18 cents at 10:31 am AEST.
