Modelling Identifies 1,390,000 Ounces Of Combined Metals
Podium Minerals Limited (ASX:POD) reports that modelling of recent drilling has delivered a substantial increase in the Mineral Resource estimate for the Parks Reef Project in Western Australia with contained metals increasing to a total of 1,390,000 ounces of combined platinum, palladium and goldplus base metal credits with 53,900 tonnes copper.
Recent drilling in the western sector of Parks Reef has delivered a substantial upgrade of Podium’s Mineral Resources with contained 3EPGM increasing by 22%.
The total resources extend over approximately 8.5km of strike length including a continuous 6.1km resource block spanning the western half of Parks Reef.
Executive Chairman Clayton Dodd said the Mineral Resources are defined to a depth of 100m below surface based on an assumption of bulk open-pit mining with mineralisation open at depth.
“We are very pleased with the results of this work as we continue to grow and enhance the Mineral Resources at Parks Reef,” Mr Dodd said.
“As well as building a material resource base, our improved geological understanding has allowed us to more clearly delineate a high value poly-metallic sub-zone and we continue to identify new targets.
“The metals in our resources are key inputs for the future world economy with the uses for PGMs, copper and nickel ranging from emission controls, hydrogen energy plus electrification and battery storage.
“We have also identified a concentration of rhodium within the lower PGM horizon, which we plan to routinely assay to include in the resources when we infill drill for indicated status.
“Podium provides unique exposure across these markets with commodity prices reaching multi-year highs based on the current strong demand and positive outlook.”