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- Podium Minerals (POD) receives four additional results from its stage 10 programme which support delivery of the exploration target at the Parks Reef project
- The stage 10 programme is aimed at proving the enlarged exploration target which the company said intersections demonstrate continuous success with results in line with projected orebody widths and grade
- The intercepts will be tested for rhodium and iridium as part of the company’s strategy to becoming Australia’s first 5E PGM producer
- 32 holes are still awaiting assays with results expected across the remainder of the quarter
- Shares in Podium Minerals last traded at 21.5 cents on July 21
Podium Minerals (POD) has received four additional assay results from its stage 10 programme which support delivery of the exploration target at the Parks Reef project, Western Australia.
The stage 10 programme is aimed at proving the enlarged exploration target of 70 million tonnes (Mt) to 75Mt at 1.2 grams per tonne (g/t) to 1.6 g/t platinum, palladium and gold (3E PGM) for 2.7 million ounces (Moz) to 3.8Moz 3E PGM.
Best intersections include 14 metres at 1.65 g/t 3E PGM from 133m including 4m at 2.06g/t 3E PGM and 11m at 1.44g/t 3E PGM from 162m including 3m at 2.23g/t 3E PGM from 163m.
The company said the intersections demonstrate the continued success of the stage 10 programme intersecting the PGM reef with results in line with projected orebody widths and grade.
Managing Director and CEO Sam Rodda commented that the assays continue to be in line with or above expectations.
He also mentioned that the company is progressing its metallurgical testwork programmes and processing pathways to support a scoping study.
“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 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.”
The total number of assays received is 19 of the 51 holes drilled at the project. The remaining 32 holes are still awaiting assays with results expected across the remainder of the quarter.
Of the results received from the stage 10 programme so far, all of them have intersected the PGM reef with assay results in line with projected orebody widths and grade.
Shares in Podium Minerals last traded at 21.5 cents on July 21.
