- Podium Minerals (POD) has confirmed an at depth continuity at its Parks Reef PGM project in WA’s mid-West
- Last month, the company completed two of the three deep diamond drill holes to test Park Reef around 500 metres below surface
- Visual analysis of the holes suggests that the geology of the interpreted reef zone is consistent with the near surface geology, providing further confidence of mineralisation continuing to significant depth
- Resolve Mining Solutions will commence mining analysis work next week ahead of a scoping study on Parks Reef
- Podium last traded at 32.5 cents per share
Diamond drilling has confirmed the continuity at Podium Minerals’ (POD) Parks Reef PGM project in the mid-West region of Western Australia.
Last month, the company completed two of the three deep diamond drill holes to test Parks Reef around 500 metres below surface.
The core has now arrived in Perth with preliminary lithological logging completed.
Initial core observations indicate that both holes intersected sulphide bearing stratigraphy of the layered intrusion, including the down dip continuation of the PGM Parks Reef.
Visual analysis of the holes suggests that the geology of the interpreted reef zone is consistent with Parks Reef near surface geology, providing further confidence of mineralisation continuing to significant depth.
CEO Sam Rodda is pleased with the results.
“This is a very exciting outcome for Podium, with the Stage 8 drilling so far confirming continuity of Parks Reef at depth and that it remains steeply dipping. This drill programme has provided further confidence that we have yet to find the limits of the orebody
at depth,” he said.
“We intend to pursue an aggressive exploration strategy aimed at growing our resource
base and also testing our orebody for rhodium and iridium to include the full 5E PGM2
suite of minerals in future resource estimate updates.”
Resolve Mining Solutions has been appointed to commence mining analysis work ahead of a scoping study on Parks Reef, with work to commence in the second week of January.
Podium last traded at 32.5 cents per share on 31 December.