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Podium Minerals Ltd.
Summary
| Project: | WRC | |
|---|---|---|
| Deposit: | Parks Reef | |
| Location: | Australia | |
| Commodities: | Gold-Platinum-Palladium-Copper-Nickel | |
| Date: | 1/7/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-1-2020: Podium Minerals Ltd. announces an Exploration/Drilling Update report for its Parks Reef deposit at the WRC project. Drilling results incl. 11m @ 1.95g/t Pt, 1.12g/t Pd, 0.06g/t Au, 0.26% Cu, 0.12% Ni, 0.03% Co from 20m. Podium Minerals Limited ( | |
| Resources: | (Resource, Inf.): 4.7Mt @ 0.25g/t 3E PGM, 0.24% Cu, 0.10% Ni Gold Horizon | |
| CP/QP: | [Overall Report]: Doug Cook (Internal) | |
| ABSTRACT: | Podium Minerals Limited (‘Podium’ or the ‘Company’) is pleased to add the base metal results to the previously released platinum, palladium and gold intercepts from its Q4-2019 drilling programme at Parks Reef. The base metals add substantial credits to the platinum group metal (PGM) and gold results and are integral to calculation of the resource upgrade scheduled for the end of January 2020. Podium’s Q4-2019 drilling programme included 25 drill holes of targeted resource and stepout drilling to increase both the Parks Reef mineral resources and confidence in the continuity of mineralisation along strike. The platinum, palladium and gold results from this drilling were previously released in ASX announcements dated 27 November 2019 and 10 December 2019, with significant mineralisation consistently intersected in the main PGM Horizon of Parks Reef. Multi-element assays have now been completed for all of the drill holes which show a horizon of base metal and gold enrichment in the hanging wall above and overlapping with the upper layer of the main PGM Horizon. Similar to previous resource drilling completed in the western and central sectors of Parks Reef, the Base Metal Horizon is characterised by elevated copper grades which reflects the presence of disseminated chalcopyrite in the fresh rock. The base metals provide potential for additional revenue and mining efficiencies including a high value interval with coincident base metals plus platinum, palladium and gold where the base metals overlap with the Upper PGM Horizon. A typical profile of the metal distribution across the extents of the reef is shown in Figure 1 with a full set of the significant base metal results and highlighting the high value intervals in Upper PGM Horizon in Table 1. The locations of the completed drill holes are shown in Figure 2 and Figure 3 with an example cross section of the resource drilling shown in Figure 4. | |
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