Podium’s Parks Reef PGE project remains ‘open’ as resource upgrade approaches

A resource update is due in June at Podium Mineral’s flagship Parks Reef project – which already contains an impressive 1.39moz of combined platinum, palladium and gold plus base metal credits with 53,900 tonnes copper.

The resources defined to date extend over 8.5km of the identified 15km mineralised strike length in Parks Reef, and all within 100m of surface.

Since its last resource update, Podium Minerals (ASX:POD) has drilled 6,700m, or an additional 5.4km.

3E PGM assays have been received from the Stage 6 drilling, designed to confirm continuity of platinum group metals (PGM) mineralisation along the full 15km strike length.

Multiple significant results were returned from the central-east sector of Parks Reef including a highlight 21m @ 1.34g/t 3E PGM from 65m, including 3m @1.75g/t.

Samples will be re-assayed for high value rhodium, iridium and base metals.

Six drill holes testing the 1.2km ‘Western Extension’ of Parks Reef – which is beyond the 15km envelope — all hit PGM mineralisation with a best result of 20m at 1.19g/t 3E PGM from 12m.

Additional drilling is being planned to further test the sections potential.

Base metal results have also been received for the PGM holes reported on 24 March 2021.

This base metal horizon displays strong continuity as expected with best results including 25m at 0.30% copper and 2.81g/t 3E PGM from 16m.

Stage 7 drilling begins

Podium has kicked off Stage 7 drilling, designed to ‘infill’ gaps in the current drill pattern and test the western sector below 200m to support a future mineral resource estimate.

The company has also been awarded joint funding from the State Government of Western Australia to drill two 750m diamond drill holes (with a third hole planned) to test for continuity of the reef at depth.

“Podium is also planning its ongoing work programmes through the remainder of 2021 with a focus on expanding the resource base and increasing the resource confidence through a combination of in-fill drilling and extension drilling at depth,” the company says.

“The extended drilling programmes will initially target high grade and thick mineralised zones to further build out a materially significant resource base and to support a scoping study.”

This article was developed in collaboration with Podium, 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.