- Podium Minerals (POD) has recommenced drilling at the Parks Reef Project in Western Australia
- Parks Reef contains platinum group minerals, gold and base metal mineralisation that extends for 15 kilometres
- The 6000-metre drill program will aim to extend the project's mineral resource, which currently covers 8.5 kilometres
- Before the full program can be completed, Podium will need to carry out further heritage clearance work due to finding some Aboriginal artefacts at the site
- Podium ended the day trading 6.45 per cent higher at 16.5 cents
Podium Minerals (POD) has recommenced drilling at the Parks Reef Project in Western Australia.
Parks Reef includes a zone of PGM (platinum group minerals)-gold-base metal mineralisation that spans more than 15 kilometres of strike.
The company is undertaking a 6000-metre drilling program to extend the project's mineral resource which currently extends for 8.5 kilometres of the full 15-kilometre strike length.
To date, drilling has delivered an inferred mineral resource of 1.39 million ounces of combined platinum, palladium and gold plus base metal credits with 53,900 tonnes copper.
This current resource was upgraded by 22 per cent in November last year, and incorporated the results from 17 holes for 1870 metres of drilling over 1.6 kilometres in the western sector of Parks Reef.
Podium also plans to drill another 1000 metres to test the new 1.2-kilometre western extension identified from geophysics and surface geochemistry, as well as test for fault repetition of mineralisation in the central part of Parks Reef.
Before the full program can be completed, the company will need to carry out further heritage clearance work due to finding some Aboriginal artefacts at the site. This has impacted six planned drill lines but Podium is working with the Native Title party to figure out the best approach to complete the work.
Podium ended the day trading 6.45 per cent higher at 16.5 cents.