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Source: Podium Minerals
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  • Podium Minerals (POD) is releasing a progress update for drilling at its Park Reef PGM project in Western Australia
  • Stage 8 of the Reverse Circulation (RC) drill program is currently underway, with two of three holes completed
  • Drilling has totalled 750 metres so far in the current stage
  • The company is currently planning the final details of stages 9 and 10 of the RC drilling program, which are expected to start early next year
  • The program is designed to target resource expansion
  • Podium Minerals shares are at $0.34 before the market opens

Podium Resources (POD) has released a progress update for drilling at its Park Reef PGM
project in Western Australia.

Stage 8 of the Reverse Circulation (RC) drill program is currently underway, with two of three holes completed.

Drilling has totalled 750 metres so far in the current stage.

RC Stages 9 & 10 A drilling program aimed at resource growth is now being finalised, with drilling scheduled to begin early next year.

The existing mineral resource estimate counts 2.2 million ounces of 3E PGM plus 79,000 tonnes of copper over a 15-kilometre strike length.

The 2600-metre Stage 9 program aims to test the reef at shallow depths, where the previous drilling tested below the base of oxidation, as well as testing cross-sections of the reef where access has been precluded to date.

Stage 10 is an initial 10,000-metre program aimed at completing drilling on 200-metre spaced sections to sufficient depths to support the expansion of an inferred resource estimate to 200-metres below surface, which is double the depth of the Company’s current inferred resource.

Podium Minerals owns a 100 per cent -stake in the project.

Analyses done by the company to date have demonstrated the consistent occurrence of the high-value elements of Rhodium (Rh) and Iridium (Ir) in the lower horizons of the reef.

Podium Minerals shares are at $0.34 before the market opens.

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