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Podium Minerals Ltd.
Summary
| Project: | WRC | |
|---|---|---|
| Deposit: | Parks Reef | |
| Location: | Australia | |
| Commodities: | Gold-Platinum-Palladium-Copper-Nickel | |
| Date: | 11/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-11-2018: Podium Minerals Ltd. announces an Exploration/Drilling Update report for its Parks Reef deposit at the WRC project. Drilling results incl. 14.0m @ 2.71g/t Pt, 0.98g/t Pd from 34m. Podium Minerals Limited (‘Podium’ or the ‘Company’) is pleased t | |
| 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 report platinum group metal (PGM) and gold assay results for resource extension drilling completed in the central zone of Parks Reef Approximately 1,400m of RC drilling was successfully completed in 14 holes over 2km of strike length. The drilling has been targeted to infill historical RC and DD drilling in this section of the reef to a vertical depth of 100m to 150m. Assay results for platinum, palladium and gold indicate a further thickening of the PGM horizon across this section of the reef with drill hole PRRC040 recording 30m at 1.44g/t 3E PGM1 from 36m and with the hole ending in mineralisation. The potential for high grade pockets has also been demonstrated with drill hole PRRC042 delivering 14m at 3.70g/t 3E PGM from 34m. This hole lies approximately 800m to the east of drill line 5W where historical drilling intercepted 16m at 4.94g/t 3E PGM from 19m in hole WRC016 and 21m at 3.68g/t 3E PGM from 19m in hole WRD001. Podium has now completed resource drilling for approximately 30% of the identified 15km strike length of Parks Reef, with the maiden drilling program over 2.2km at the western end of Parks Reef delivering 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 metal. The next step is to reassay the mineralised intercepts for base metals following which the full set of results from the base metal horizon and PGM horizon will be released. Podium will then undertake resource modelling for the central zone, targeting a resource upgrade for Parks Reef in Q1 2019. | |
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