THE DRILL SERGEANT: Podium Minerals (ASX: POD) released a Mineral Resource Estimate (MRE) from within the company’s 100 per cent-owned Parks Reef project in Western Australia.

Podium Minerals reported the new MRE for the copper-gold zone of mineralisation at Parks Reef, which is an additional zone to the existing platinum group metal (PGM) mineralised zone (PGM Zone).

The company said the MRE for the additional zone of copper-gold mineralisation expands the scale of Parks Reef, enhancing project optionality, and increasing the Podium Basket of payable metals.

Parks Reef now comprises two distinct and contiguous mineralised zones:

– Existing PGM Zone2:
MRE containing 7.6 million ounces 5E PGM,103,000 tonnes copper, 143,000 tonnes nickel and 27,000 tonnes cobalt.

– Additional Copper-Gold Zone:
Inferred MRE comprising 140,000 tonnes copper, 260,000 ounces gold, plus 60,000 tonnes nickel and 11,000 tonnes cobalt.

“The delineation of the substantial copper and gold mineralisation immediately above the hanging wall of the existing PGM and base metal horizon at Parks Reef is further demonstration of this deposit’s strategic value and ability to continue to surprise to the upside,” Podium Minerals executive chairman Rod Baxter said in the company’s ASX announcement.

“While geologically separate from the PGM reef, the additional copper-gold Resource substantially increases the Podium Basket price by 21 per cent at current spot prices, enhances optionality from a development perspective, and provides another strategic lever for us to consider as we progress the Parks Reef PGM Project.”

Baxter went on to explain the company has commenced a second phase of PGM flotation test work on samples sourced from Parks Reef in its December 2024 metallurgical drilling program.

This second phase of work is ongoing and is focussing on refining and optimising our flotation and waste rejection steps in the concentrator circuit,” he said.

“The work continues to further our understanding of the characteristics of Parks Reef ore as well as the flotation behaviour of the material, allowing us to deliver ongoing improvements in PGM recoveries as part of the test work program.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE