Podium Minerals (ASX:POD) - Executive Chairman, Clayton Dodd
Executive Chairman, Clayton Dodd
Source: Podium Minerals
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  • Podium Minerals (POD) has confirmed the continuity of platinum group metals (PGMs) and copper at its Parks Reef Project in WA
  • The company drilled 25 holes on the eastern side of the project which has returned pleasing base metal and PGM results
  • Podium just received assays from the last 11 holes of the program — all of which intersected the main PGM horizon
  • An expanded drilling program began earlier this month to update the mineral resource to extend along the entire 15-kilometre strike of the project
  • Drilling is expected to be completed by the end of March and the resource upgrade is planned for June this year
  • Podium Minerals ended the day 8.33 per cent in the green with shares trading at 16.3 cents

Podium Minerals (POD) has unveiled further results from drilling at its wholly owned Parks Reef Project in Western Australia.

The latest batch of results come from 11 holes drilled before the end of last year, which focused on the eastern side of the project. A total of 25 holes were drilled in this program which is showing continuity of platinum group metals (PGM).

Since the program ended, a 7000-metre drilling program began earlier this month to update the mineral resource along the entire 15-kilometre strike length of the Parks Reef Project.

The inferred mineral resource sits at 1.39 million ounces of combined platinum, palladium and gold (3E PGM) plus base metal credits with 53,900 tonnes of copper. However this only extends for 8.5 kilometres of the 15-kilometre strike.

PGM results have shown all holes intersected the main PGM horizon. They include 10 metres at 1.53g/t 3E PGM from 93 metres, three metres at 2.06g/t 3E PGM from 93 metres and four metres at 2.27g/t 3E PGM from 89 metres.

Additionally, Podium re-assayed the mineralised intervals from last month for base metals, which have demonstrated the continuity of the base metal horizon.

Best results include 11 metres at 0.28 per cent copper and 0.78g/t 3E PGM from 95 metres including three metres at 1.04g/t 3E PGM and 0.2 per cent copper from 103 metres, eight metres at 0.29 per cent copper and 0.58g/t 3E PGM from 111 metres including two metres at 1.82g/t 3E PGM and 0.2 per cent copper from 117 metres.

The company is in the process of re-assaying the 11 holes for base metals rather than just PGM.

Drilling is ongoing and is expected to be completed by the end of March, and a material resource upgrade is planned for June.

Podium Minerals ended the day 8.33 per cent in the green with shares trading at 16.3 cents at market close.

POD by the numbers
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