Extension drilling in Parks Reef central zone delivers continued strong PGM-gold results

Podium Minerals Limited (ASX: POD) (‘Podium’ or the ‘Company’) is pleased to report platinum group metal (PGM) and gold assay results for resource extension drilling completed in the central zone of Parks Reef.

Highlights

• Resource extension drilling over 2km in the central zone of Parks Reef indicates:

Ø  Potential for high grade pockets with 14m at 3.70g/t 3E PGM from 34m in drill hole PRRC042

Ø  Further thickening of the PGM horizon with 30m at 1.44g/t 3E PGM in drill hole PRRC040 from 36m and with the hole ending in mineralisation

• The maiden drilling program over 2.2km at the western end of the reef delivered an Inferred JORC Mineral Resource estimate containing 340,000 ounces of combined platinum, palladium and gold plus 14,300 tonnes of copper and 11,400 tonnes of nickel metal (announced 16 October)

• 72% of the identified 15km strike length of Parks Reef is still to be drilled, offering good potential for further PGM and Base Metal JORC resource upgrades 

Next milestones
Re-assay the mineralised intercepts for base metals, followed by resource modelling for the central zone, targeting a JORC resource upgrade in Q1 2019

Full release: