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Podium Minerals Ltd.
Summary
| Project: | WRC | |
|---|---|---|
| Deposit: | Parks Reef | |
| Location: | Australia | |
| Commodities: | Gold-Platinum-Palladium-Copper-Nickel | |
| Date: | 12/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-12-2018: Podium Minerals Ltd. announces an Exploration/Drilling Update report for its Parks Reef deposit at the WRC project. Drilling results incl. 23.0m @0.26g/t Pt, 0.17g/t Pd, 0.14g/t Au, 0.10% Ni, 0.33% Cu from 23m. Podium Minerals Limited (‘Podium’ | |
| Resources: | (Resource, Inf.): 6.8Mt @ 0.71g/t Pt, 0.65g/t Pd, 0.12g/t Au, 0.10% Cu, 0.12% Ni in PGM horizon | |
| CP/QP: | [Overall Report]: Doug Cook (Internal) | |
| ABSTRACT: | Podium Minerals Limited (‘Podium’ or the ‘Company’) is pleased to announce base metal assay results from the resource extension drilling program completed in the central zone of Parks Reef. The results confirm the continuation of a thick horizon with base metal and gold enrichment in the hanging wall above, and overlapping, the platinum group metal (PGM) horizon, as seen in the western zone Podium’s resource extension drilling program in the central zone of Parks Reef included 1,400m of RC drilling in 14 holes over 2km of strike length. The drilling infilled historical RC and DD drilling in this section of the reef to a vertical depth of 100m to 150m. Previously announced assay results for platinum, palladium and gold 2 indicated a thickening of the PGM horizon across this section of the reef with drill hole PRRC040 recording 30m at 1.44g/t 3E PGM from 36m and the potential for high grade pockets with drill hole PRRC042 delivering 14m at 3.70g/t 3E PGM from 34m. Multi-element assays from the mineralised intercepts have shown a thick base metal and gold enriched horizon in the hanging wall above and overlapping the upper portion of the PGM horizon as seen in Podium’s maiden drilling program in the western zone of Parks Reef3 . The base metal enrichment further increases the overall thickness of this section of the reef with combined down hole intercepts of the combined base metal and PGM horizons up to 40m and significantly enhances the polymetallic grades in the upper portion of the PGM horizon. The maiden drilling program over 2.2km at the western end of the reef delivered an Inferred 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 metal4 . The base metal results will be incorporated into the central zone resource modelling with a resource upgrade for Parks Reef targeted for Q1 2019. | |
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