Podium Minerals Limited’s (ASX: POD) confidence in the Parks Reef project in Western Australia has been further boosted with additional assay results from four reverse circulation (RC) holes completed as part of the Stage 10 exploration drilling programme.
The intercepts continue to support delivery of the Parks Reef Exploration Target (70 to 75Mt at grade of 1.2 to 1.6g/t 3E PGM)1,2, with all intercepts returning results within the targeted range or slightly better.
- Interim results received from an additional 4 holes from the Stage 10 programme. This is in addition to the 15 assays previously disclosed, totalling 19 holes assayed to date.
- Intersection highlights include:
- 14m at 1.65g/t 3E PGM (0.87g/t Pt, 0.72g/t Pd and 0.06g/t Au) from 133m (PRRC225); including 4m at 2.06g/t 3E PGM (0.98g/t Pt, 0.96g/t Pd and 0.12g/t Au) from 134m.
- 11m at 1.44g/t 3E PGM (0.71g/t Pt, 0.61g/t Pd and 0.12g/t Au) from 162m (PRRC223); including 3m at 2.23g/t 3E PGM (0.93g/t Pt, 0.97g/t Pd and 0.33g/t Au) from 163m.
- Stage 10 assays continue to show a 100% success rate in the Stage 10 programme intersecting the PGM reef with results in line with projected orebody widths and grade.
- All Stage 10 intercepts will be subsequently tested for the presence of highly valuable rhodium (Rh), iridium (Ir) and base metals (copper and nickel) that will inform our 5E3 PGM resource upgrade.
The recent Stage 10 assays continue to show grade and width in line with, or above expectations. The Stage 10 programme is aiming to increase the resource size,” Managing Director and CEO, Sam Rodda, said.
“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 testwork programmes and processing pathways to support a scoping study.
“Future drill programmes 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.”