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Podium Minerals Reports Parks Reef Copper-Gold Zone Resource

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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

 

Podium Minerals Confirms High-Grade 5E PGE

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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.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.podiumminerals.com

 

Podium Minerals Drills High-Grade Central Ore Zone Results

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THE DRILL SERGEANT: Podium Minerals (ASX: POD) released new results from drilling at the company’s Parks Reef 5E PGM project in Western Australia.

Podium Minerals reported the intercepts that were returned from six of nine holes drilled into the Central Ore Zone of Parks Reef orebody.

Highlights include:

PRRC262
16 metres at 2.51 grams per tonne 3E platinum group metals (PGM) (1.69g/t platinum (Pt), 0.8g/t palladium (Pd) and 0.01g/t gold (Au)) from 76m, including 2m at 11.48g/t 3E PGM (8.52g/t Pt, 2.94g/t Pd and 0.03g/t Au) from 88m; and

PRRC259
4m at 2.19g/t 3E PGM (1.57g/t Pt, 0.62g/t Pd and 0.01g/t Au) from 42m, including 2m at 2.87g/t 3E PGM (2.08g/t Pt, 0.78g/t Pd and 0.01g/t Au) from 42m.

“The Central Ore Zone was previously identified to potentially contain higher grade than the surrounding resource, so it is pleasing to see the geological model supported with these results,” Podium Minerals managing director and CEO Sam Rodda said in the company’s ASX announcement.

“More importantly, if the remaining three holes due in early September continue to confirm the consistent ore grade, it will provide significant data for our ongoing assessment and planning for an initial mining approach.

“The ability to target high-grade zones in the early years of mining will benefit any economic assessment of the project significantly.

“Therefore, the company has been focused on defining these higher-grade zones along the 15 kilometres strike.

“With multiple high-grade zones now identified, our experienced project development team will incorporate these results into the ongoing conceptual mine design work and hydrometallurgy test work that is underway.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Web: www.podiumminerals.com

 

Roadhouse Investment Afternoon June 2022

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COMMODITY CAPERS: The Resources Roadhouse welcomed five companies to present at our Northbridge Investment Afternoon yesterday to a room jam packed with punters.

 

Peak Minerals (ASX: PUA)

Peak Minerals is currently working up a suite of Western Australian copper exploration programs.

These include:

The Green Rocks project consisting of 234 square kilometres of contiguous landholding, incorporating the company’s existing Copper Hills and Lady Alma prospects;

The Earaheedy project that covers an area of 62sqkm sitting jus 28 kilometres southeast of Sandfire Resources (ASX: SFR) DeGrussa copper-gold mine and 18km southeast of the Monty copper-gold mine; and

The Kimberley projects: made up of the Kimberley south project of six individual tenements considered prospective for magmatic sulphides and sediment hosted copper mineralisation, and the Carson project, a large sediment hosted copper target looming over 250km strike in the Kimberleys.

PEAK MINERALS CEO JENNIFER NEILD

Most work of late has focused on Green Rocks where a helicopter borne time domain electromagnetics (HTDEM or Heli-EM) survey over the entire tenement package was completed.

Processing of data from Rixon, Lady Alma demonstrated a 2D inversion providing further confirmation of conductivity centralised around the southern portion of the Rixon intrusion.

Assays received from earlier diamond drilling undertaken at Lady Alma revealed anomalous copper and nickel was intersected.

 

Galileo Mining (ASX: GAL)

Galileo Mining has provided market watchers, and punters, with a considerable point of difference following the discovery of palladium-platinum-copper-nickel-sulphide at the company’s 100 per cent-owned Norseman project in Western Australia.

Assays from subsequent drilling at Callisto returned hefty zones of mineralisation while confirming initial results from the initial discovery drill hole.

Further assays demonstrated the presence of rhodium in addition to the palladium-platinum-gold-copper-nickel.

GALILEO MINING CHAIRMAN and MANAGING DIRECTOR BRAD UNDERWOOD

A new drilling campaign involving some 20 holes is currently underway at Callisto armed with the task of expanding on the early results with drilling designed at a 50 metre spacing across strike to be followed by drill lines along strike to the north.

The palladium, platinum, gold, copper, nickel, and rhodium mineralisation intersected to date has shown signs grades appear to be increasing towards the eastern target zone.

The company is hopeful the extensive prospective strike, combined with the thick and consistent mineralisation drilled to date, indicates the potential for a large mineralised system.

 

Aurimin (ASX: AUN)

Aurumin this week released an update on progress of RC and diamond drilling at its 100 per cent-owned Central Sandstone Gold Project.

Aurumin has taking a two two-pronged approach at Sandstone, the first part of which is development of the existing 500,000 ounce Two Mile Hill Resource and the second to get the most out of the Sandstone tenement package.

An auger drilling program is also exploring for new deposits just a couple of kilometres from existing infrastructure.

AURUMIN MANAGING DIRECTOR BRAD VALIUKAS

Elsewhere Aurumin has been keeping well busy at its 100 per cent-owned Mt Palmer project in WA, from which it recently announced results from an orientation reverse circulation (RC) program targeting lithium bearing pegmatites.

The drilling presented variations in the mineralogy of the pegmatites along with the anomalous assay results, which the company has interpreted to demonstrate the degree of fraction occurring within the pegmatite complex within the Vickers Find South prospect, validating its belief in the potential of the area to host lithium mineralisation.

“For a first pass, we are encouraged to have intersected multiple pegmatite units with an indication of fertility for lithium,” Aurumin managing director Brad Valiukas said.

“We have other promising target areas untested with drilling pending as well as targets at depth.”

 

Podium Minerals (ASX: POD)

Podium Minerals is making some serious progress at the company’s 100 per cent-owned Parks Reef PGM project in Western Australia to make fastidious investors aware of its existence.

The Parks Reef PGM project comprises a 15 kilometres strike of near surface PGM-gold-base metal mineralisation within its mining leases in the Mid-West Region of WA.

Podium is targeting high value metals with strong market fundamentals and growth prospects with a strategy to rapidly develop an alternative supply of PGMs to the world market.

PODIUM MINERALS MANAGING DIRECTOR and CEO SAMM RODDA

Having also identified the presence of rhodium, Podium’s recent Stage 9 drilling efforts revealed a geological package demonstrating high continuity of the PGM reef and high-grade zones from surface to earlier drilled deep holes that hit 500 metres below the surface.

The orebody remains open at depths below these holes.

The company believes the Stage 9 results and subsequent Stage 10 growth drilling targeting PGM ounces will support identification of preferred starter mine areas along the 15km strike of the Parks Reef Orebody.

 

Torque Minerals (ASX: TOR)

Torque Minerals’ is mainly focused on the company’s 100 per cent-owned Paris project sitting within the area known as the Boulder-Lefroy Fault Zone, a prolific gold-bearing structure and host to numerous mines that have produced many millions of ounces of gold.

The release of recent RC drilling results re-affirmed Torque’s belief of the existence of a very strong, broad zone of high-grade gold extending approximately 50m westbound from its first discovery that intersected a wide gold zone of 24 metres at 10.7 grams per tonne gold.

The latter drilling improved on this by returning results that included:

22PRC038
6m at 22g/t gold from 159m, 3m at 14g/t gold from 171m, within a larger zone of 27m at 8.2g/t gold from 156m.

TORQUE MINERALS EXECUTIVE CHAIRMAN IAN FINCH

Torque has indicated its intention to commence follow up drilling program at Paris as soon as a suitable rig can be secured.

Drilling will entail:

Westbound RC follow up drilling into the Paris prospect high-grade gold zones with a view to rapidly increasing the gold inventory at that prospect;

Deeper RC drilling at Observation to investigate the depth potential of the previous gold discovery. The drilling will also aim to discover if other parallel or ‘offshoot’ gold zones also exist in the immediate area;

Westbound RC drilling at the Caruso prospect to explore mineralisation styles comparable to the Paris prospect; and

RC drilling at Paris South, Carreras, and Pavarotti to test already identified geochemistry anomalies.

 

 

 

Podium Minerals Holds Rhodium and Iridium Aces at Parks Reef

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THE CONFERENCE CALLER: Podium Minerals (ASX: POD) is exploring for platinum group metals, gold and base metals with the aim of developing the company’s 100 per cent-owned Parks Reef PGM project located within its mining leases in the Mid-West Region of Western Australia.

Podium Minerals recently completed drilling that led to the upgrading of the Resources at Parks Reef with contained metals increasing to a total of 2.2 million ounces of combined platinum, palladium and gold plus base metal credits with 79,000 tonnes copper.

The total Minerals Resources extend over approximately 15 kilometres of strike of Parks Reef and have now been defined to a depth of 100 metres below surface based on an assumption of bulk open-pit mining with PGM mineralisation open at depth.

The Resources include a high value Upper PGM Horizon of: 9.2 million tonnes at 2 grams per tonne 3E PGM and 0.17 per cent copper.

3E PGM refers to platinum plus palladium plus gold expressed in units of grams per tonne.

“The latest round of drilling included for the first time, significant drilling below 100 metres in the western sector and results to date have reinforced the sheer consistency and continuity of the Parks Reef PGM-gold-copper mineralisation,” Podium Minerals executive chairman Clayton Dodd said.

“In addition, it has also re-affirmed that high-grade primary PGM mineralisation is not uncommon within Parks Reef.

“Results from recent drill programs have refocussed Podium attention to high-grade zones along the Parks Reef strike.

“Understanding the controls and distribution of these reported high grade mineralised zones will be our priority with further follow-up drilling.”

The resource estimate did not, however, include the high value platinum group elements rhodium and iridium which occur throughout Parks Reef the company had previously reported.

In its June Quarterly report, Podium reported results that included rhodium and iridium hots of:

PRRC135
7m at 5.75 grams per tonne 3E PGM, 0.32g/t rhodium and 0.14g/t iridium from 89m, including 3m at 10.83g/t 3E PGM, 0.65g/t rhodium and 0.29g/t iridium from 89m, including 1m at 25.74g/t 3E PGM, 1.35g/t rhodium and 0.7g/t iridium from 91m; plus
11m at 1.25g/t 3E PGM, 0.08g/t rhodium and 0.03g/t iridium from 100m.

PRRC103
6m at 3.75g/t 3E PGM, 0.15g/t rhodium and 0.07g/t iridium from 142m, including 1m at 15.29g/t 3E PGM, 0.4g/t rhodium and 0.2g/t iridium from 142m.

Rhodium is regarded as the best catalyst for the aftertreatment of gasoline nitrogen oxides (NOx) emissions.

Iridium has an extremely high melting point and is the most corrosion resistant metal known.

It is commonly used as a hardening agent together with other PGM’s in particular, platinum.

While Podium has previously assayed selected holes for rhodium and iridium, there is currently insufficient drill data to include these platinum group elements into the Mineral Resources.

Podium plans to routinely assay for rhodium and iridium once the company moves to in-fill drilling for indicated resources.

It is expected that this will allow rhodium and iridium to be included within the Parks Reef Mineral Resources.

 

Email: info@podiumminerals.com

 

Web: www.podiumminerals.com