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Podium Minerals Ltd.
Summary
| Project: | WRC | |
|---|---|---|
| Deposit: | Parks Reef | |
| Location: | Australia | |
| Commodities: | Gold-Platinum-Palladium-Copper-Nickel | |
| Date: | 8/28/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-8-2018: Podium Minerals Ltd. announces an Exploration/Drilling Update report for its Parks Reef deposit at the WRC project. Drilling results incl. 15m @ 0.69g/t Pd, 0.67g/t Pt, 0.02g/t Au, 0.02% Cu, 0.08% Ni, 0.01% Co. Podium’s maiden drilling program | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Doug Cook (Internal) | |
| ABSTRACT: | Podium’s maiden drilling program included a total of 3,018m RC drilling which demonstrated thick PGM mineralisation along approximately 2.2km at the western end of the identified 15km strike length of Parks Reef1 . Follow-up multi-element analysis of selected samples then identified a distinctive base metal and gold enriched horizon in the hanging wall above the PGM horizon2 . All of the Parks Reef drill holes from the maiden drilling program have now been re-assayed for copper, nickel and cobalt which demonstrates that a thick base metal and gold enriched horizon continues along the drilled strike. The base metal and gold horizon is constrained in the hanging wall by the visually distinctive mafic-ultramafic contact and the base overlaps with the upper portion of the PGM horizon. When combined with the PGM horizon, total mineralised down hole intercepts of up to 30m have been recorded which corresponds to a true width in Parks Reef of approximately 20m enhancing the opportunity for a large scale bulk mining operation. In addition, the overlap of the base metal enrichment with the top of the PGM horizon consistently coincides with a high grade PGM sub-layer. This provides further optionality for selective mining of a high value PGM, gold and base metal zone. Current work and next steps Initial review of the base metal results indicate the potential significance of the base metal value and Podium will incorporate this data into the resource modelling work. A metallurgical testwork program is currently in progress in South Africa which will also feed into the resource work with results anticipated during September. Podium is also planning for a second drilling campaign and will provide further details in the coming weeks. Podium Chief Executive Officer Tom Stynes commented: “The base metal results reinforce the core strengths of the Parks Reef mineralisation in terms of bulk mining potential with options for selective mining of high-grade zones and provide an important value driver as we look to optimise a development pathway | |
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