Podium’s Parks Reef resource just went full platinum and the hits keep coming

Podium Minerals has recorded stunning new hits for the Central Ore Zone at its Parks Reef project in WA, numbers which will bolster the resource upgrade expected next month.

Intercepts like these:

16m at 2.51 g/t 3E PGM (1.69 g/t platinum, 0.80g/t palladium and 0.01g/t gold) from 76m (PRRC262), including 2m at 11.48 g/t 3E PGM (8.52g/t platinum, 2.94g/t palladium and 0.03g/t gold) from 88m; and
4m at 2.19 g/t 3E PGM (1.57g/t platinum, 0.62g/t palladium and 0.01g/t gold) from 42m (PRRC259), including 2m at 2.87g/t 3E PGM (2.08g/t platinum, 0.78g/t palladium and 0.01g/t gold) from 42m.

Podium’s (ASX:POD) unique Parks Reef project is already being highlighted as an easy, alternative and reliable platinum group metals (PGM) supply ready made to meet the exponential global demand for decarbonised technologies that depend on PGMs – like auto catalysts and hydrogen energy/fuel cell catalysts.

The company expects the 3E PGM assays for the remaining three holes within the Central Ore Zone to be received in early September.

Informs initial mining economics

MD and CEO Sam Rodda said the results support the geological model that the Central Ore Zone could potentially contain higher grade than the surrounding resource – and they’re also a bonus for mine planning at the project.

“If the remaining three holes due in early September continue to confirm the consistent ore grade, it will provide significant data for our ongoing assessment and planning for an initial mining approach,” he said.

“The ability to target high- grade zones in the early years of mining will benefit any economic assessment of the project significantly.

“Therefore, the company has been focused on defining these higher-grade zones along the 15km strike.

“With multiple high-grade zones now identified, our experienced project development team will incorporate these results into the ongoing conceptual mine design work and hydrometallurgy test work that is underway,” Mr Rodda added.

MRE upgrade expected shortly

In total 35 holes have now had full assay results returned and an additional 7 holes have partial assays returned.

The Stage 10 diamond core tail drilling Program aims to prove the enlarged Exploration Target of 70Mt to 75Mt at 1.2 g/t to 1.6 g/t 3E PGM for 2.7Moz to 3.8Moz 3E PGM3.

This is additional to the current 3.0Moz 5E PGM Inferred MRE reported last month, and Podium says the updated MRE incorporating this target is on track to be delivered in 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.