Podium Minerals Confirms High-Grade 5E PGE
THE DRILL SERGEANT: Podium Minerals (ASX: POD) reported 5E PGM results received for all outstanding drill holes, including the Central Ore Zone at the company’s Parks Reef project in Western Australia.
5E PGM (platinum group metals) refers to platinum (Pt) + palladium (Pd) + gold (Au) + Rhodium (Rh) + Iridium (Ir) expressed in units of grams per tonne.
Podium Minerals explained the 5E PGM results have been received for the drilling’s final Stage 9 and Stage 10 assays, from a total twenty-eight drill holes.
5E PGM intersection highlights include:
PRRC262
19 metres at 2.48 grams per tonne 5E PGM (0.18g/t Rh and 0.07g/t Ir) from 76m, including 2m at 12.9g/t 5E PGM (1.03g/t Rh and 0.39g/t Ir) from 88m;
PRRD208
31m at 1.35g/t 5E PGM (0.06g/t Rh and 0.02g/t Ir) from 189m, including 2m at 5.6g/t 5E PGM (0.4g/t Rh and 0.16g/t Ir) from 212m; and
PRRD240
16m at 1.88g/t 5E PGM (0.04g/t Rh and 0.01g/t Ir) from 169m, including 0.9m at 10.88g/t 5E PGM (0.3g/t Rh and 0.13g/t Ir) from 184m.
Podium Minerals declared that all drill holes that intersected the full reef width consistently show high rhodium and iridium values within the PGM reef intercept confirming presence along the full 15km strike.
The company will use these results when completing the intended Mineral Resource Estimate (MRE) update due in October that is now in final stages of compilation.
“With these results Podium has completed a crucial step in our path towards growth and development of Parks Reef,” Podium Minerals managing director and CEO Sam Rodda said in the company’s ASX announcement.
“The presence of high-grade zones and confirmation of rhodium and iridium throughout the orebody will allow us to optimize our resource modelling and studies to consider these areas.
“Our workstreams remain focused on growing and understanding the orebody and testing our metallurgy for a preferred processing path as part of refining our path to production.”
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