Drill rig for stage nine drilling at Parks Reef. Source: Podium Minerals
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  • After receiving approvals, Podium Minerals (POD) is about to begin a 12-hole drilling program at the Parks Reef PGM project in WA
  • The company says the drill pad preparation has commenced in the central section of the orebody which extends for 800 metres and is bounded by high-grade PGM results
  • Podium is specifically testing the resource at depth to potentially add further 5E PGM ounces to the Parks Reef project
  • The company recently completed a stage nine drilling effort with some results still pending and stage 10 drilling is ongoing to support an enlarged exploration target
  • POD shares are trading steady at 38 cents as of 12:33 pm AEST

Podium Minerals (POD) will commence its drilling plans this month upon receiving program of work approval and Aboriginal cultural heritage clearances.

The company said the the drill pad preparation has commenced in the central section of the orebody within the registered heritage site of the Parks Reef 5E platinum group metal (PGM) project in Western Australia.

Podium plans to drill up to 12 holes to target an 800-metre central zone and test the continuity of the ‘significantly large’ 5E PGM reef. Two holes on either side of the section 18 (s18) zone display average PGM grades higher than the current mineral resource estimate (MRE).

Managing Director and CEO Sam Rodda commented that the adjacent holes highlight prospective high-grade areas, which the company is looking forward to testing fully.

“These approvals also enable us to expand and test the resource at depth with the opportunity to add further 5E PGM ounces to the project,” Mr Rodda said.

The exploration will broadly target resource growth to greater than 200 metres below the surface as part of stage nine and 10 exploration programs.

Stage nine was a 22-hole reverse circulation (RC) drilling campaign completed in March 2022. Results for 11 holes were reported with assays pending for the remaining 11 holes.

The Stage 10, 9400-metre drilling program is ongoing with two rigs currently working towards proving an enlarged exploration target of 70 million tonnes to 75 million tonnes at 1.2 grams per tonne (g/t) to 1.6 g/t 3E PGM for 2.7 to 3.8 million ounces 3E PGM.

These two drill programs aim to support future studies and deliver on the significant exploration target, which will then allow the project team to consider various options around processing routes, mining methods and production volumes.

POD shares held steady at 38 cents as of 12:33 pm AEST.

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