Podium Minerals Limited (ASX: POD) reports that testwork has identified two alternative leaching processes to extract platinum group metals (PGM), gold and base metals from the near surface oxide mineralisation in the Parks Reef prospect in the Mid-West Region of WA.
Chief Executive Officer Tom Stynes said the testwork results have raised the company’s confidence that it can unlock Parks Reef’s potential.
“The success of these initial leaching testwork programmes is very exciting. These are innovative developments for processing of PGMs which have the potential to leverage the competitive advantages of Parks Reef with a significant inventory of near surface PGM, gold and base metals.
The leaching process route provides an opportunity to maximise the value of the oxide mineralisation with the testwork achieving high rates of metal extraction plus the potential to produce a product in a form suitable for sale direct to metal refineries.
“In parallel with our drilling programmes we are planning further testwork to optimise the process and will investigate options for incorporation of the leach process into an overall development plan for Parks Reef.”
Mr Stynes said Parks Reef provides opportunity to be developed as a large shallow, bulk mining operation for PGM, gold and base metals.
Mineralisation has been identified over a 15km strike length and is steeply dipping from surface. Drilling by Podium over approximately 4.5km has defined Inferred Mineral Resources containing 740,000 ounces of combined platinum, palladium and gold plus base metal credits within 100m of surface and with the mineralisation remaining open at depth and along strike.
The Mineral Resources also contain an amount of near surface oxide mineralisation with the observed base of oxidation typically around 50m from surface but varying between 30m in the western zone of the reef and up to 70m in the central zone.