Podium's PGE project WA

Podium Minerals exceeding expectations at Parks Reef exploration target, WA

Podium Minerals (ASX:POD) reports additional assay results from four reverse circulation (RC) holes has been completed as part of the stage 10 exploration drilling program at the Parks Reef exploration target.

Podium, which is aiming to become Australia’s first 5E platinum group metals (PGM) producer, reports all intercepts have returned results within the targeted range or were slightly better.

The stage 10 program is aimed at proving the enlarged exploration target of 70m tonnes to 75Mt at 1.2 grams per tonne to 1.6 g/t 3E PGM for 2.7Moz to 3.8Moz 3E PGM4. This is additional to the current 2.8Moz 3E PGM Inferred Mineral Resource Estimate (MRE) reported on 10 February.

Addressing the results, Podium Managing Director Sam Rodda said: “The recent stage 10 assays continue to show grade and width in line with, or above expectations. The stage 10 program is aiming to increase the resource size.

“These results continue to confirm our expectations and validate our confidence”

These results continue to confirm our expectations and validate our confidence in delivering the exploration target of an additional 2.7Moz to 3.8Moz 3E PGM at Parks Reef.

In conjunction with exploration drilling, we have also been progressing our metallurgical test work programs and processing pathways to support a scoping study. Future drill programs are currently being evaluated to ensure they progress both the resource growth and continuation of study work.

As part of our strategy to become Australia first 5E PGM resource, all of these intercepts will also be tested for highly valuable rhodium (Rh) and iridium (Ir).

Podium has been working closely with our laboratories to expedite our assay sample processing and results. Including these additional elements in our understanding of the orebody will add significant value for shareholders and advance Podium’s objective of becoming Australia’s first 5E PGM producer.”

5E PGM refers to platinum (Pt) plus palladium (Pd) plus gold (Au) plus rhodium (Rh) plus iridium (Ir) expressed in units of g/t.

The Parks Reef 5E PGM Project is a 15km long platinum group metal deposit located in an established mining precinct between Cue and Meekatharra in the Mid West Region of Western Australia, which also contains gold and base metal (Cu + Ni) mineralisation.

The orebody commences near surface and to date has been proven to continue to about 500m vertical depth, which remains open and shows consistency with near surface geology.

Images: Podium Minerals Limited
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Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.