Announcement Date: 2022-08-02
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Podium Minerals Ltd.
Project name: Parks Reef
Location: Australia
Commodities: Gold,Iridium,Palladium,Platinum,Rhodium,Copper,Nickel,Cobalt
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Podium Minerals Limited (ASX: POD, ‘Podium’ or ‘the Company’) is pleased to announce an update to the Mineral Resource Estimate (MRE) at its 100% owned Parks Reef PGM Project in Western Australia. The updated inferred resource for the PGM horizon is 52.2Mt at 1.64g/t for 3 Moz 5E PGM1 which has expanded to include additional platinum group metals rhodium and iridium as well as the addition of the base metal cobalt (9,300t). The PGM reef contains 0.81g/t platinum (Pt), 0.66g/t palladium (Pd), 0.08g/t Au, 0.06g/t rhodium (Rh) and 0.03g/t iridium (Ir) plus 0.07% copper (Cu), 0.09% nickel (Ni) and 0.018% cobalt (Co). The updated MRE for the platinum group metal (PGM) horizon at Parks Reef has been lifted to 52.2Mt at 1.64 g/t 5E PGM. This updated resource estimate uses a cut-off grade of 1g/t 5E PGM. The additional overlying Base Metal (BM) and gold (Au) horizon is 27.8Mt at 0.24% copper and 0.30g/t 3E PGM at a cut-off grade of 0.1% copper. The PGM horizon can be further divided into upper and lower PGM horizons. The upper PGM horizon model has shown it is the most likely portion of the Parks Reef to host higher platinum, palladium and gold grades. The lower PGM horizon currently indicates higher grades of rhodium and iridium. Both the upper and lower zones within the PGM horizon demonstrate combined high grades of 5E PGMs
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