Podium’s perfect record highlights Parks Reef growth potential

Podium continues to receive assays from its Stage 10 drilling at the Parks Reef project in WA’s Mid-West region that are in line with, or above expectations.

The latest batch of four holes, which maintains the perfect success rate of Stage 10 to date, returned results such as 14m grading 1.65 grams per tonne (g/t) 3E platinum group metals (0.87g/t platinum, 0.72g/t palladium and 0.06g/t gold) from a down-hole depth of 133m which includes a 4m zone at 2.06g/t 3E PGM from 134m in hole PRRC225.

Podium Minerals (ASX:POD) chief executive officer Sam Rodda notes that the continued grade and width consistency in the Stage 10 program, which was aimed at increasing resources, confirms the company’s expectations and validates its confidence in delivering its exploration target.

While the exploration target is strictly an estimate of potential growth based on previous work that is in no way a replacement for defined resources, the results to date are a strong hint that the company might just be able to add some of the 2.7Moz to 3.8Moz exploration target to its current Inferred Resource of 2.8Moz 3E PGM.

“In conjunction with exploration drilling, we have also been progressing our metallurgical testwork programmes and processing pathways to support a scoping study,” Rodda added.

“Future drill programmes are currently being evaluated to ensure they progress both the resource growth and continuation of study work. As part of our strategy to become Australia’s first 5E PGM resource, all of these intercepts will also be tested for highly valuable rhodium and iridium.

“Including these additional elements in our understanding of the orebody will add significant value for shareholders and advance Podium’s objective of becoming Australia’s first 5E PGM producer.”

Stage 10 drilling

With the latest assays, Podium has now received assays for 19 holes and is awaiting assays for a further 32 holes from its Stage 10 drill program.

All results to date have achieved intersections of the reef, underscoring the reef’s significant continuity and consistency over its full 15km strike length.

This is especially true given that all assays received to date have been in line with projected orebody widths and grade.

Adding further interest, PRRC225 also provides support to the depth continuity of the reef to at least 500m due to its close proximity to the intercept in PRDD004.

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.