Podium kicks off PGM resource update near Cue
Podium Minerals has just revealed a suite of base metal restuls to add to its impressive platinum, palladium plus gold intercepts at its Parks Reef project, near Cue in WA. With mineralised strike extending up to 15 kilometres, the latest results have provided a shot in the arm for Podium’s impending resource update.
The new results have firmed up a zone of copper and gold enrichement in the hanging wall that also overlaps the main platinum/palladium horizon at Parks Reef. The latest assays from this hanging wall zone include 11 meters grading 3.13 grams per tonne platinum, palladium plus gold and 0.26% copper from just 20m downhole.
The results from the 30 drill-hole RC program continue to build on Podium’s resource of 15.7 million tonnes grading 1.38g/t PGM and in a separate mineral horizon, another 4.7 million tonnes grading 0.25g/t PGM and 0.24% copper.
The combined total of the Parks Reef resource is curerntly an impressive 740,000 ounces of PGMs and 23,200 tonnes of copper.
Parks Reef consists of a 15km long, broad, near-surface series of ore “reefs” or horizons containing PGMs and significant copper and nickel mineralisation.
Back in March of 2019, Podium tabled an exploration target for Parks Reef of 3.1 million to 5.8 million ounces of combined PGMs from the surface to a modelled vertical depth of 200 metres.
If the Perth based ASX-listed company can realise even a fraction of that target it will have an internationally significant platinum/palladium project on its hands.
Management said that mineralisation was consistently intersected over the drilled sections and the company has now kicked off a resource update for the eastern sector of the deposit with all the assays now in.
Podium is shooting for a release of the updated resource by the end of this month which will no doubt be eagerly anticipated by the market that has suddenly become uber-focussed on palladium in particular, given its more than 50% price hike in 2019.
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