Podium Minerals (ASX:POD) reports stage 10 drilling results at its Parks Reef PGM Project in Western Australia continues to ‘generate excitement’ as they confirm the thickness of the reef extends at depth and contains zones of significant high grade.
Analysis of the intercepts of the results from 2 reverse circulation (RC) holes continue to support expansion of the Parks Reef exploration target (70-75Mt at grade of 1.2 to 1.6g/t 3E PGM).
Ongoing stage 10 drilling targeting a total of 50 holes is expected to reach completion in early July.
Commenting on the results, Podium Minerals Managing Director Sam Rodda said: “Stage 10 drilling continues to vindicate our commitment to the Parks Reef PGM Project, with continuing results illustrating orebody consistency of width and grade along strike and depth.
“Stage 10 drilling continues to vindicate our commitment to the Parks Reef PGM Project”
Regular zones of significant high-grade within these intersections such as seen in PRRC208 that hosts a 2m intercept >5.0g/t 3E PGM add to an already strong story.
High-grade PGM ore zones, proving ounces at depth and strong progress on our metallurgical testing are important steps for Podium as we head towards a scoping study and our goal of becoming Australia’s first PGM producer.”
Intersection highlights include:
- 13m at 1.94g/t 3E PGM2 (1.15g/t Pt, 0.77g/t Pd and 0.02g/t Au) from 207m (PRRC208) including,
- 2m at 5.05g/t 3E PGM (3.46g/t Pt, 1.57g/t Pd and 0.02g/t Au) from 212m
Podium Minerals Head of Geology Mark Fleming added: “From a geological perspective, the location of the reef hosted within the ultramafic rocks adjacent to the contact between the ultramafics and the stratigraphically younger mafic volcanics shows no sign of diminishing.
The contact between ultramafic and the overlying mafic volcanics, and by association the PGM bearing reef, is still open in both directions along strike and open at depth, pointing to huge resource growth potential with further delineation drilling.”
Since listing on the ASX in February 2018, Podium has aggressively pursued a systematic drilling program with an objective of defining near-surface mineral resources along the identified extents of Parks Reef.
The Parks Reef PGM Project is strategically located in an established mining precinct between Cue and Meekatharra in the Mid West Region of Western Australia.
Images: Podium Minerals Limited
