Hits High-Grade Platinum, Palladium And Copper In WA
Podium Minerals Limited (ASX:POD) has intersected high-grade platinum and palladium up to 25.7g/t 3E PGM in resource drilling in both the central and eastern sectors of the Parks Reef project in Western Australia,
Executive Chairman, Clayton Dodd, that additionally base metal assays have identified high-grade copper sulphides associated with significant gold and palladium enrichment in the eastern sector of Parks Reef.
“These latest results in Parks Reef represent the most significant intersections achieved to date in terms of both thickness and grade, and which will be included in modelling for the next upgrade of the already substantial resource base of 1.4 million ounces of 3E PGM,” Mr Dodd said.
“The holes will now be analysed for high value rhodium and base metals and with the current drilling typically at 200m spacing we will undertake localised step-out drilling along strike and down dip to delineate the size and overall tenor of these high-grade zones.”
Drilling to date by Podium has delivered Inferred Mineral Resources containing a total of 1,390,000 ounces of combined platinum, palladium and gold plus base metal credits with 53,900 tonnes copper.
The Mineral Resources defined to date extend over a total of 8.5km of the identified 15km mineralised strike length in Parks Reef and within 100m of surface.
As part of the accelerated growth strategy for the Parks Reef PGM Project, Podium is currently undertaking a 7,000m drilling programme with an objective to extend the Mineral Resources along the full 15km strike length within 100m of surface. The drilling will then transition to in-fill and depth extension to delineate a materially significant resource base and provide the foundation for a Scoping Study to define the optimum development pathway, which is targeted for Q3 2021.
Prior to the end of 2020, Podium had completed 25 drill holes in the eastern sector of Parks Reef for which Podium has previously released the platinum, palladium and gold results from all drill holes plus the base metal results from 14 of the 25 drill holes2. This announcement includes the base metal results from the remaining 11 drill holes plus the first platinum, palladium and gold assays for drilling completed since February in the eastern and central sectors of Parks Reef.
The new drilling includes 5 holes in the eastern sector of Parks Reef including extensions to drill holes PRRC103 and PRRC105 plus the redrilling of hole PRRC104 (as PRRC126) which were all previously identified as ending in the base metal horizon. Podium is pleased to report that each of these drill holes has delivered significant platinum, palladium and gold mineralisation in the main PGM horizon with high grade platinum and palladium recorded in drill hole PRRC103.
Platinum, palladium and gold results have additionally been received for the first 5 drill holes in the central sector of Parks Reef which has intercepted typically thick mineralisation in the main PGM horizon. Drill hole PRRC135 and PRRC114 delivered exceptional results showing both high grade layering within thick mineralised intervals highlighting the opportunity for both high grade pockets and bulk mining potential.
