Podium Minerals has hit the 'most significant' PGM intercepts to date at its Parks Reef project. Pic: Getty Images
Podium drills ‘most significant’ hits of up to 25.74g/t 3E PGM
Mining
share
Podium is putting the polish on its Parks Reef project near Cue in the Mid-west of WA, with high-grade platinum and palladium intersected in the central and eastern sectors.
This includes a top intersection of 1m grading 25.74 grams per tonne (g/t) 3E PGM – platinum, palladium and gold – from a depth of 91m within a intercept of 7m at 5.75g/t 3E PGM in drill hole PRRC135 all within a broader intercept of 37m @1.81g/t commencing at 74m.
Additionally, PRRC103 intersected 6m at 3.75g/t 3E PGM from 142m including 1m at 15.29g/t 3E PGM from 129m while demonstrating stratigraphy that is similar to PRRC026 in the western sector that had hit 3m at 5.7g/t 3E PGM from a depth of 127m including 1m at 10.6g/t 3E PGM from 129m.
While these are positive results by any standard, Podium Minerals (ASX:POD) has also intersected high-grade copper sulphide with significant gold and palladium enrichment at the top of the base metal horizon in PRRC114 in the eastern sector.
This hole struck a 1m zone grading 1.98 per cent copper and 2.09g/t 3E PGM from a depth of 62m within a broader 6m intersection at 0.5 per cent copper and 0.98g/t 3E PGM.
“These latest results in Parks Reef represent the most significant intersections achieved to date in terms of both thickness and grade, and which will be included in modelling for the next upgrade of the already substantial resource base of 1.4 million ounces of 3E PGM,” executive chairman Clayton Dodd said.
“The holes will now be analysed for high value rhodium and base metals and with the current drilling typically at 200m spacing we will undertake localised step-out drilling along strike and down dip to delineate the size and overall tenor of these high-grade zones.”
Resource extension drilling
Podium is currently undertaking a 7,000m drilling program aimed at extending the current resource of 1.39Moz 3E PGM and 53,900t of copper that is defined over a total of 8.5km strike over the entire 15km strike identified at Parks Reef.
Extension drilling to date has intersected significant platinum, palladium and gold mineralisation in the main PGM horizon within the eastern sector.
Completed drilling now spans over 3.2km of strike.
Meanwhile, drilling in the central sector has returned high-grade hits layered within thick mineralised intervals that demonstrates the opportunity for both high grade pockets and bulk mining potential.
The company adds that the high copper grades and anomalous PGM enrichment intersected in PRRC114 above the main PGM horizon has not previously been seen in other drilling and warrants further follow-up investigations for extensions of this high-grade result.
Next steps
Podium will continue resource drilling to extend resources across the full 15km strike of Parks Reef to a depth of 100m below surface.
It will also test for fault repetition of mineralisation in the central sector of Parks Reef, which has the potential to further increase the defined resources in this area.
Additionally, the company will carry out drill testing of the western expansion target.
This article was developed in collaboration with Podium Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
