Podium Minerals says the latest batch of results at its Parks Reef platinum group metals, or “PGM” project in the Mid West region of WA continue a 100 per cent hit rate of intersecting the site’s reef.
The company recently received assays from two RC holes that included highlights of a 13m intersection going 1.94 grams per tonne 3E PGM from 207m including 2m at 5.05 g/t. from 212m.
Podium has previously stated an exploration target of 70-75 million tonnes at a grade of 1.2 to 1.6 grams per tonne 3E PGM.
Earlier this year the company received results supporting Podium’s hopes to upgrade its deposit from a three-element, or 3E, to a five-element, or 5E, definition.
3E refers to the platinum group elements of platinum, palladium and gold, whilst 5E adds iridium and rhodium.
The 2m intersection from the latest assays recorded 3.46 g/t platinum, 1.57 g/t palladium and 0.02 g/t gold.
The wider 13m section had a reading of 1.15 g/t platinum, 0.77 g/t palladium and 0.02 g/t gold.
Podium says the latest results support the yet to be confirmed expansion of the company’s exploration target and are above or in-line with projected orebody widths and grade.
A total of six holes have been tested to-date that form part of the 35 holes completed as part of the stage 10 program.
An additional 15 holes stopped short of planned reef intercepts due to swelling clays and fibrous veins.
These 15 holes are being extended with diamond core tails to achieve full reef intercepts.
Previous assays include one hole going 34m at 1.77 grams per tonne 3E PGM from 76m including 1m at 12.65 g/t from 109m.
Podium Minerals Managing Director and CEO, Sam Rodda said: “High-grade PGM ore-zones, proving ounces at depth and strong progress on our metallurgical testing are important steps for Podium as we head towards a scoping study and our goal of becoming Australia’s first PGM producer.”
All Stage 10 intercepts will be tested for rhodium, iridium and base metals the company says will support its 5E PGM resource upgrade.
Earlier this month the company received the green light to begin drilling the central zone with registered heritage site access granted in April through a Section 18 application and the program of work granted in May by the WA Department of Mines, Industry Regulation and Safety.
Podium has previously stated that the Mid West of WA is the perfect setting with existing infrastructure, mining supply chains and low environmental risk.
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By Matt Birney
