Podium Minerals Maintains Strike Rate at Parks Reef
THE DRILL SERGEANT: Podium Minerals (ASX: POD) reported further assay results from the company’s Parks Reef exploration target near Meekatharra in Western Australia.
Podium Minerals scored the results from nine reverse circulation (RC) holes completed as part of the now completed Stage 10 exploration drilling program at the 70 to 75 million tonnes at 1.2 to 1.6 grams per tonne 3E PGM (platinum+palladium+gold) target.
highlights include:
PRRC206
6 metres at 1.39 grams per tonne 3E PGM (0.77g/t Pt, 0.43g/t Pd and 0.19g/t Au) from 177m and 25m at 1.29g/t 3E PGM (0.64g/t Pt, 0.62g/t Pd and 0.03g/t Au) from 187m; and
PRRC216
9m at 1.6g/t 3E PGM (0.8g/t Pt, 0.7g/t Pd and 0.1g/t Au) from 121m, including 2m at 2.27g/t 3E PGM (1.18g/t Pt, 0.82g/t Pd and 0.27g/t Au) from 121m.
The Stage 10 assays have so far hit a 100 per cent strike rate in the Stage 10 program intersecting the PGM reef with results in line with projected orebody widths and grade.
“Drilling associated with our stated Parks Reef Exploration Target is now complete and we are seeing strong results in line or above expectations with the deeper Stage 10 assays received,” Podium Minerals managing director and CEO – Sam Rodda said in the company’s ASX announcement.
“These results continue to demonstrate Parks Reef’s comprehensive list of attributes supporting its potential for development.
“These include a consistent 5E PGM orebody with a 15 kilometres strike length, close to surface, hosting high-grade intercepts and open at depth, with the Stage 10 program also aimed at increasing the resource size.
“We are focussed on executing the key elements to progress towards a scoping study.
“In conjunction with our drilling program supporting expansion of our Exploration Target, we continue to progress our metallurgical test work around processing pathways and are designing our future drill programs to support both the resource growth and study work.
“Emerging global hydrogen markets, as well as increasingly stringent standards around existing decarbonising technology such as motor vehicle autocatalysts, are some of the factors behind the expected deficits to palladium and rhodium supply as early as 2022
“These recent Stage 10 drilling results, along with ongoing geopolitical instability in some of the biggest PGM producing countries continues to provide confidence that our Parks Reef project is well positioned for development as an alternate PGM supplier.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@podiumminerals.com