Podium Minerals is continuing to look deep at its growing Parks Reef platinum group elements project in WA, with a third diamond hole to test its depths almost halfway done.

The third diamond drill hole in the Stage 8 exploration project has crossed 350m of its planned 750m depth.

If the first two holes drilled as part of the program are any indication, PRDD005 will be a very interesting watch over the coming days and weeks.

Previously drilled holes PRD003 and 004 provided Podium (ASX:POD) with strong visual evidence to support the idea that the Parks Reef orebody continues at depth.

Located in gold country between Cue and Meekatharra in WA, Parks Reef represents an opportunity to seriously diversify the supply of PGE materials – key inputs in green technologies like catalytic converters and hydrogen electrolysers – away from challenging jurisdictions like Russia, South Africa and Zimbabwe.

It currently contains 2,200,000 ounces of combined platinum, palladium and gold plus base metal credits with 79,000 tonnes of copper, over 15km of the Parks Reef domain and all within 100m of surface.

The recent drilling has demonstrated the potential for that mineralisation to stretch much deeper.

Having packed on an additional 92% in resources through drilling to date, resource extension drilling this year is targeting another 3Moz, with an exploration target of 3.1 to 5.8 million ounces 3E PGM within 200m of surface (including 1.5 to 2.6 million ounces within 100m of surface).

Initial observations of lithological logging of the two completed deep diamond drill holes, indicated both holes intersected sulphide bearing stratigraphy of the layered intrusion, including the down dip continuation of the PGM Parks Reef at a depth of approximately 500m.

Visual analysis showed the geology was consistent at these depths with the known near surface mineralised geology. Core is currently being cut and prepared for assay.

New talent on board to steer Parks Reef ship

There has been positive action as well on the corporate front at Podium, with experienced metallurgist Jason Whittle appointed to take over the role of general manager of projects.

It comes as things get a little more serious at Parks Reef, with a scoping study in the works to firm up the pathway to converting the resource into a future mine.

Whittle is a key appointment to deliver on this promise, boasting 25 years of experience in international mining projects and operations in Australia, Asia and South America across a range of commodities, including the processing and production of complex minerals.

He follows the additions of recently appointed CEO Sam Rodda and CFO and company secretary Hannah Hudson.

“Jason’s operating and project delivery experience with complex base metals and precious metals is a great addition to our team as we look to advance our Parks Reef studies in parallel with drill programs to inform and build our PGM resource,” Rodda said.

Whittle’s expertise will strengthen the company’s capability to manage the development and successful delivery of a PGM operation at Parks Reef along with the appointment as non-executive directors last year of well regarded company directors Rod Baxter and Cathy Moises.

After the EIS supported Parks Reef Deeps program, Podium plans to launch two RC programs including a 2600m Stage 9 drilling effort targeting shallow resources and a 10,000m Stage 10 program aimed at identifying resources down to 200m, double the current depth of the current JORC resource.



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.