A new resource estimate at Podium Minerals’ exciting Parks Reef platinum group metals project is so close you can taste it, with more assays highlighting the rich growth potential of the WA asset.

Podium (ASX:POD) boasts an enlarged exploration target of 70 to 75Mt to 1.2-1.6g/t 3E PGM for 2.7-3.8Moz of 3E PGM on top of the current 3Moz 5E PGM inferred resources reported to the market in August.

Today’s drill results, the last outstanding from this year’s Stage 9 and 10 drilling programs completed in March and July this year, have added to the potential to host rich PGM deposits at Parks Reef.

Notably, significant grades of rhodium and iridium were identified, extremely rare premium commodities currently trading at around US$15,000/oz and US$4600/oz respectively.

5E PGM intersections identified by Podium include:

  • 19m at 2.48g/t 5E PGM (0.18g/t Rh and 0.07g/t Ir) from 76m (PRRC262)
    • including 2m at 12.90g/t 5E PGM (1.03g/t Rh and 0.39g/t Ir) from 88m
  • 31m at 1.35g/t 5E PGM (0.06g/t Rh and 0.02g/t Ir) from 189m (PRRD208)
    • including 2m at 5.60g/t 5E PGM (0.40g/t Rh and 0.16g/t Ir) from 212m; and,
  • 16m at 1.88g/t 5E PGM (0.04g/t Rh and 0.01g/t Ir) from 169m (PRRD240)
    • including 0.9m at 10.88g/t 5E PGM (0.30g/t Rh and 0.13g/t Ir) from 184m.

 

Standout rhodium and iridium intercepts across the Parks Reef project. Pic: Podium

 

Metallurgy joy

All drill holes that intersected the full reef width consistently showed high rhodium and iridium values, confirming their presence along the full 15km strike of the project.

Metallurgical investigations have also been promising, with chromium values topping out at around 0.1% in the oxide and fresh sulphide horizons.

That’s much lower than typical operating platinum and palladium mines in South Africa, the home of the vast bulk of the PGM industry.

Given its considered a deleterious element, that bodes well for future processing solutions.

“With these results Podium has completed a crucial step in our path towards growth and development of Parks Reef,” Podium MD and CEO Sam Rodda said.

“The presence of high-grade zones and confirmation of rhodium and iridium throughout the orebody will allow us to optimise our resource modelling and studies to consider these areas.”

“Our workstreams remain focused on growing and understanding the orebody and testing our metallurgy for a preferred processing path as part of refining our path to production.”

A new resource is expected out before the end of the month.

 

 

 

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.

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