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Podium Minerals Ltd.
Summary
| Project: | WRC | |
|---|---|---|
| Deposit: | Parks Reef | |
| Location: | Australia | |
| Commodities: | Gold-Platinum-Palladium-Copper-Nickel | |
| Date: | 3/26/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-3-2019: Podium Minerals Ltd. announces a Resource Estimation report for its Parks Reef deposit at the WRC project. Exploration target for Parks reef. Podium Minerals Limited (‘Podium’ or the ‘Company’) is pleased to announce a revised Exploration Tar | |
| Resources: | Exploration Target: 80Mt - 120Mt @ 1.2g/t - 1.5g/t 3E PGM | |
| CP/QP: | [Overall Report]: Jeremy Peters (Internal) | |
| ABSTRACT: | Podium Minerals Limited (‘Podium’ or the ‘Company’) is pleased to announce a revised Exploration Target for Parks Reef of 80Mt to 120Mt at 1.2g/t to 1.5g/t 3E PGM1 containing between 3.1 and 5.8 million ounces of combined platinum, palladium and gold. The Exploration Target has been prepared by Snowden Mining Industry Consultants (Snowden). Investors are cautioned that the potential quantity and grade of the Exploration Target is conceptual in nature, that there has been insufficient exploration to estimate further Mineral Resources and that it is uncertain if further drilling will result in the determination of Mineral Resources. The revised Exploration Target of 80Mt to 120Mt at 1.2g/t to 1.5g/t 3E PGM is significantly increased from the previous estimate of 25Mt to 55Mt at 1.5g/t to 2.0g/t 3E PGM. The previous estimate was based on the results of historical exploration drilling as reported in the Independent Geologist’s Report within Podium’s IPO prospectus2 and corresponds to 1.2 to 3.5 million ounces of combined platinum, palladium and gold. On 5 March 2019 Podium announced an upgraded Inferred Mineral Resources estimate for Parks Reef containing 740,000oz 3E PGM which included 700,000oz 3E PGM within the main PGM horizon3 . The resources extend over a total length of 4.5km in the western and central zones of the identified 15km mineralised strike length. The Exploration Target has been revised based on the results of Podium’s resource drilling programs completed during 2018 and the resultant Mineral Resources. The Exploration Target is inclusive of the current Mineral Resources. The revised Exploration Target is based on the same mineralised envelope as the previous estimate corresponding to a depth of 200m below surface along the 15km strike length and considering only the main PGM horizon | |
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