Announcement Date: 2022-10-31
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 a new Mineral Resource Estimate (MRE) at its 100% owned Parks Reef PGM Project in Western Australia. The Inferred resource for the PGM reef now contains 6.0Moz of 5E PGM1 . The updated PGM horizon contains 0.64g/t platinum (Pt), 0.52g/t palladium (Pd), 0.07g/t Au, 0.05g/t rhodium (Rh) and 0.02g/t iridium (Ir) including 94kt copper (Cu), 127kt nickel (Ni) and 24kt cobalt (Co). The revised MRE is the result of drilling the Exploration Target (the Stage 10 drilling programme) of 70Mt to 75Mt at 1.2g/t to 1.6g/t 3E PGM (ASX announcement on 3 March 2022) at a nominal reef vertical intercept depth of 150m to extend the Inferred resource to 250m below the surface. The orebody remains open below this depth along the full 15km strike. The new MRE for the platinum group metal (PGM) horizon at Parks Reef has been lifted to 143Mt for 6.0Moz at 1.30g/t 5E PGM. The limits of the PGM Domain (nominally constraining 5E PGM grades of 0.5g/t and above) have been chosen as the cut-off because preliminary mining and metallurgy studies have indicated that material within this domain has a reasonable prospect for eventual economic extraction.
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