Podium Minerals assay results set the stage for resource upgrade at Parks Reef

New assay results from Podium Minerals’ Parks Reefs platinum group metals (PGM) project in WA confirm the continuity of the base metal horizon overlying the main PGM horizon.

New results include:

16m at 0.19% copper ad 0.52 g/t 3E PGM from 60m;
17m at 0.21% copper and 0.57 g/t 3E PGM from 83m; and
29m at 0.20% copper and 0.29 g/t 3E PGM from 114m.

Podium Minerals (ASX:POD) is now working on upgrading the inferred mineral resource –currently 1,390,000 ounces of combined platinum, palladium and gold plus base metal credits with 53,900 tonnes copper — for the full 15km strike length and to 100m depth towards the end of July/early August.

Stage 7 RC drilling underway

The company’s stage 7 ~4,000m RC drilling program is nearing completion.

The drilling will test 200m spaced sections to a depth of 100m below surface, as well as testing the 2.4km strike of the western sector to 200m depth. Initial assay results are expected towards the end of July.

Podium has also completed 4 holes to test the continuity of the previously announced high grade 5E3 PGM mineralisation in the central east sector, with assays pending.

EIS diamond drilling

A 750m deep diamond drill program is expected to begin before the end of July, co-funded to a maximum of $150,000 by the State Government of Western Australia through the Exploration Incentive Scheme (EIS).

The program comprises 3 x 750m deep diamond drill holes to target the reef at a depth of approximately 500m below surface.

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.