Podium Minerals (ASX: POD) has reported ‘high grade’ near-surface PGM mineralisation following Stage 9 infill drilling at its Parks Reef Project in Western Australia’s Mid-West.
The company notes that these results demonstrate the high continuity of the PGM mineralisation near-surface, and support the potential for higher-grade zones to be present within the area.
Highlight intersections from interim assay results include:
- Hole PRRC191: 15m @ 3.88g/t 3E PGM (2.59g/t Pt, 1.26g/t Pd and 0.03g/t Au) from 17m; including
- 2m @ 8.34g/t 3E PGM (7.03g/t Pt, 1.30g/t Pd and 0.01g/t Au) from 22m
- 3m @ 5.33g/t 3E PGM (3.16g/t Pt, 2.14g/t Pd and 0.03g/t Au) from 26m
- Hole PRRC197: 27m @ 2.23g/t 3E PGM (1.15g/t Pt, 0.99g/t Pd and 0.09g/t Au) from 9m
In addition, Podium has indicated that it will carry out testing on these intervals in a bid to test for rhodium, iridium, copper and nickel.
Addressing the results, Podium’s Managing Director and CEO, Sam Rodda, said: “At Parks Reef we are seeing a geological package that shows high continuity of the PGM reef and high-grade zones from surface to the recently drilled deep holes, 500m below the surface communicated in April (20th). Importantly the orebody is still open at depths and below these holes. These exciting Stage 9 results and subsequent Stage 10 growth drilling targeting significant PGM ounces will support identification of preferred starter mine areas along the substantial 15km strike of the Parks Reef Orebody.
“These exciting Stage 9 results and subsequent Stage 10 growth drilling targeting significant PGM ounces will support identification of preferred starter mine areas along the substantial 15km strike of the Parks Reef Orebody”
This is a perfect time to be associated with PGM’s given their importance to Australia’s critical minerals strategy. Demand for PGM’s globally remains strong as the use of platinum and palladium in auto catalysts continues to play a key role in managing vehicle emissions in line with greenhouse gase emission targets globally. Platinum is also shaping up as a key catalyst ingredient in PEM hydrogen fuel cells supporting the new clean hydrogen economy. Podium’s resource has a high Pt:Pd ratio above 1:1, this is a similar ratio of PGM’s to those seen in the majority of South African PGM operations.
The Mid-West of WA is also the perfect location with existing infrastructure, mine services and low environmental risk to deliver the feed of critical PGM minerals to support these existing and new industries towards a cleaner future.”
Subsequent Stage 10 RC drilling has been operational since March, and is expected to deliver an enlarged exploration target of 70Mt to 75Mt @ 1.2g/t to 1.6g/t 3E PGM for 2.7Moz to 3.8Moz 3E PGM. 33 holes have been completed as part of this program, and are awaiting assay.
The Parks Reef 5E PGM Project is located between the townships of Cue and Meekatharra in Western Australia, and encompasses 15km of strike of platinum group metals, gold and base metal mineralisation.
The project boasts a current Mineral Resource Estimate of 2,200,000 ounces of combined platinum, palladium and gold, plus 79,000 tonnes of copper, with mineralisation remaining open at depth.
Images: Podium Minerals Limited