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Podium Minerals (ASX:POD) - Executive Chairman, Clayton Dodd
Executive Chairman, Clayton Dodd
Source: Podium Minerals
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  • Podium Minerals (POD) has proposed testing of two 750 metre diamond drill holes at Parks Reef in the mid-west region of WA
  • After a successful application to the State Government of Western Australia for the co-funding of direct drilling costs, the company will drill two holes at around 520 metres below surface
  • Drilling is designed to test the continuity of grade and thickness of the reef and to enhance the understanding of the magmatic stratigraphy of the lower section of the mafic zone
  • An additional third deep hole is also being planned by Podium Minerals, outside of the current program
  • Podium Minerals last traded at 50 cents

Podium Minerals (POD) has proposed testing of two 750 metre diamond drill holes at Parks Reef in the mid-west region of WA.

Podium was recently advised of its successful application to the State Government of Western Australia for the co-funding of direct drilling costs to drill two 750-metre-deep diamond drill holes designed to test Parks Reef at around 520 metres below surface.

This is more than twice the depth of any previous drilling conducted at Parks Reed and follows recently drill programs that identified high-grade zones showcasing platinum, palladium, rhodium and iridium.

The two holes will test for the continuity and depth of Parks Reef and will be jointly funded through the Western Australian Government Exploration Incentive Scheme. The company is being awarded $150,000, representing 50 per cent of the direct drilling costs.

Podium will test for continuity of grade and thickness of the reef and to enhance the understanding of the magmatic stratigraphy of the lower section of the mafic zone.

Due to conditions attached to the funding program, it is anticipated that drilling will commence in July and is expected to take around one month to complete.

Additionally, Podium Minerals is working on other drill programs which are underway to define the continuity of the high-grade zones of platinum group element mineralisation, with results expected to be released by early June.

 An additional third deep hole is also being planned by Podium Minerals, outside of the current program.

Podium Minerals last traded at 50 cents on May 10.  

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