Podium Minerals (ASX:POD) reports it has received results for deep diamond core hole PRDD004, showing the presence of additional platinum group metals at its Parks Reef 5E PGE Project near Meekatharra in Western Australia.
Results for the additional sampling have now been received and show that the mineralisation has been separated by the post-mineralisation dyke.
The new intercept in PRDD004 based on the over 1g/t 5E PGM included:
- 5.7m @ 2.14g/t 5E PGM (0.93g/t Pt, 1.02g/t Pd, 0.14g/t Au, 0.03g/t Rh and 0.02g/t Ir) from 581m.
- 16m @ 1.34g/t 5E PGM (0,63g/t Pd, 0.03g/t Au, 0.07g/t Rh and 0.03g/t Ir) from 604m, including 2m @ 2.26g/t 5E PGM (0.16g/t Rh and 0.30g/t Ir) from 617m.
The additional interval intersected in PRDD004 brings the total mineralised intercept to over 20m downhole.
Podium notes this provides further evidence that the grades and widths of the reef seen throughout the entire 15km strike length down to 200m vertically could persist down to at least 500m vertical.
This result provides additional confidence that further evaluation of the reef below 250m vertical may result in additions to the Mineral Resource Estimate.
Intercepts achieved in other deep holes include:
- 11.7m @ 3.17g/t 5E PGM (2.05g/t Pt, 1.36g/t Pd, 0.10g/t Au, 0.14g/t Rh and 0.08g/t Ir) from 666.7m, including 1.4m @ 11.58g/t 5E PGM from 666.7m and 2.2m @ 9.53g/t 5E PGM from 669.8m in PRDD003.
- 14.3m @ 1.33g/t 5E PGM (0.61g/t Pt, 0.62g/t Pd, 0.02g/t Au, 0.05g/t Rh and 0.02g/t Ir) from 644.7m in PRDD005.
Podium Minerals Head of Geology Mark Fleming said the results validate the company’s understanding that the post-mineralisation intrusives does not ‘stope out’ (replace) the mineralisation, but rather pushes the intercepts apart.
“This result is consistent, wide reef intercepts that should present itself for future mine design consideration”
“This result is consistent, wide reef intercepts that should present itself for future mine design consideration. This is a great result knowing that the widths of up to 20m continue to exist down to 500m vertical.
This understanding of the interaction of post-mineralisation dykes with mineralised intercepts, combined with the consistent stratigraphic character displayed by all intercepts (upper high-grade Pt and Pd zone and a consistent zone of over 40ppb Rh in the lower half of the intercept) enables us to know if additional mineralised intercepts can be expected when dyke disruptions occur.
The presence of a consistent high-grade 5E PGM zone close to the top of the intercept and a high-value zone associated with Rh in the bottom portion of the intercept provides a number of mining study options.”
Podium Minerals is planning to become Australia’s first platinum group metals producer.
The ‘significant’ scale and grade of the Parks Reef Resource provides Podium the opportunity to support an emerging and responsible Australian critical metals mining industry
The Parks Reef 5E PGM Project is a 15km long platinum group metal deposit which also contains gold and base metal (Ni and Cu) mineralisation.
The orebody commences near surface and to date has been proven to continue to approximately 500m vertical depth, which remains open and shows consistency with near surface geology.
The location of Parks Reef in a mining friendly jurisdiction in Western Australia provides a unique opportunity to secure an ‘alternative’ and ‘reliable’ platinum group metals supply to meet increasing global demand for decarbonised technologies that require PGMs (auto catalysts and hydrogen energy and fuel cell catalysts).
A motivated technical and development team is accelerating Podium’s strategy to prove and develop a ‘high-value’, ‘long-life’ Australian PGM asset.
Images: Podium Minerals Ltd
