Podium Mineral’s onto a winner with high-grade rhodium and 5E PGM hits at Parks Reef
The results Parks Reef are some of the highest grades Podium has seen to date, reinforcing Park Reefs standing as Australia’s first 5E PGM orebody.
All drill holes that achieved full intersections of the reef consistently show high rhodium and iridium values (>0.05g/t) within the PGM reef intercept confirming presence along the full 15km strike.
Stage 10 drilling returned 5E PGM results with hits up to 34m at 1.87g/t 5E PGM (0.07g/t rhodium and 0.03g/t iridium) from 76m, including 1m at 14.41g/t 5E PGM (1.24g/t rhodium and 0.53g/t iridium) from 109m.
Other results include 22m at 2.04g/t 5E PGM (0.11g/t rhodium and 0.04g/t iridium) from 17m, including 13m at 2.16g/t 5E PGM (0.16g/t rhodium and 0.05g/t iridium) from 18m.
For the nine holes drilled into the Central Zone area, 3E PGM results were received as well as for all the diamond core tails (15 in total) drilled to extend the reverse circulation (RC) holes within the program.
Podium Minerals (ASX:POD) managing director and CEO Sam Rodda says it is great to see continuation of significant high-grade and high value rhodium and iridium throughout the ore body.
“Parks Reef continues to highlight zones of high grade PGMs within many of our drill intercepts, with new modelling of the orebody contributing to our planned October mineral resource estimate upgrade, which will allow project studies to consider high-grade and bulk PGM mining options,” he explains.
“Having recently attended two critical mineral and future metal conferences, we are motivated around the global growth of green hydrogen energy and the hydrogen fuel cell market.
“These technologies are positioned to drive decarbonisation, and both require significant PGMs which are critical minerals needed to deliver on this outlook and Podium is well placed to support this future demand.”
The Stage 10 drilling program aims to prove the enlarged exploration target of 70Mt to 75Mt at 1.2g/t to 1.6g/t 3E PGM for 2.7Moz to 3.8Moz. Expected delivery of the updated mineral resource estimate, incorporating this target, is on track to be delivered in October, POD says.
Selected samples are being re-assayed for 5E PGM and base metals, with 5E PGM testing commencing following the identification of the PGM zone via 3E analyses.
Due to the high volumes and laboratory delays, results from 5E assays will continue to be longer than the 3E and gold turnaround times, however, all 5E PGM are expected by the beginning of October 2022.
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.