Podium Minerals Limited (ASX: POD) has received positive intercepts from 17 holes returned from Stage 10 drilling confirm the continuity of the Parks Reef mineralisation along the full 15 km of the orebody’s strike length, supporting the successful delivery of the Parks Reef Exploration Target (70 to 75Mt at grade of 1.2 to 1.6g/t 3E PGM for 2.7Moz to 3.8Moz 3E PGM) in addition to the existing resource.
Highlights
The results from Stage 10 drilling continue to demonstrate the consistent nature of the Parks Reef deposit in both grade and orebody width at depth. This consistency allows greater confidence in the geological modelling and study scenarios considered by Podium,” Managing Director and CEO, Sam Rodda, said.
“An exciting highlight of these results is the identification of higher-grade intersections, which will inform selection of infill drilling areas for a proposed starter mine. Seeing regular assay results above 1.2 g/t 3E PGM is a positive step for the delivery of Podium’s Exploration Target, whilst the intersections showing grades over 6 g/t 3E PGM are highly encouraging for our early-stage mine planning.
“These results will be incorporated into the next Parks Reef resource model to illustrate the size potential of the Parks Reef project, along with the recently released rhodium and iridium results that allowed the upgrade from a 3E PGM resource to Australia’s first 5E PGM4resource. These areas of focus have the potential to be key value drivers within the upcoming studies.”