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Podium Minerals Ltd.
Summary
| Project: | WRC | |
|---|---|---|
| Deposit: | Parks Reef | |
| Location: | Australia | |
| Commodities: | Gold-Platinum-Palladium-Copper-Nickel | |
| Date: | 12/10/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-12-2019: Podium Minerals Ltd. announces an Exploration/Drilling Update report for its Parks Reef deposit at the WRC project. Drilling results incl. 18m @ 0.86g/t Pt, 0.93g/t Pd, 0.01g/t Au (1.80g/t 3E PGM) from 12m. Podium Minerals Limited (‘Podium’ or | |
| Resources: | (Resource, Inf.): 4.7Mt @ 0.25g/t 3E PGM, 0.24% Cu, 0.10% Ni | |
| CP/QP: | [Overall Report]: Doug Cook (Internal) | |
| ABSTRACT: | Podium Minerals Limited (‘Podium’ or the ‘Company’) is pleased to report the second set of platinum group metal (PGM) and gold results from its Q4-2019 drilling programme at Parks Reef plus the first results from the parallel reef exploration drilling. A total of 30 drill holes for 2,800m of reverse circulation (RC) drilling has been completed in Podium’s Q4-2019 drilling programme. The programme has included 25 drill holes of targeted resource and step-out drilling to increase both the Parks Reef mineral resources and confidence in the continuity of mineralisation along strike. Initial results from the first 15 drill holes, as released in Podium’s ASX announcement dated 27 November 2019, demonstrated that the drilling consistently intersected significant mineralisation extending from near surface in the main PGM horizon of Parks Reef. This announcement includes the platinum, palladium and gold results from an additional 10 drill holes in Parks Reef with further thick intercepts and substantial PGM grades. Five (5) exploration drill holes have also been completed, targeting potential parallel reef structures in the mafic portion of the intrusion. These drill holes lie approximately 900m south of Parks Reef. While no significant mineralisation was intersected in these holes anomalous copper was recorded at up to 820ppm. The presence of anomalous copper indicates the precipitation of chalcopyrite, which is commonly associated with PGM bearing sulphides. Podium will review the results and options for identification of discovery targets within this portion of the intrusion. | |
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