Podium Minerals Ltd’s (ASX:POD) analysis of copper, nickel and cobalt grades from initial drilling at Parks Reef in WA has confirmed continuity of thick base metal and gold enrichment above the platinum group metal (PGM) horizon.
The base metals and gold sit in the hanging wall and reinforce the core strength of the mineralisation in terms of bulk mining potential of Parks Reef, which is within the broader Weld Range Complex.
Intercepts up to 30 metres of combined mineralisation in the base metal and PGM horizons represent a true width in Parks Reef of about 20 metres.
The initial program consisted of 3,018 metres of reverse circulation drilling.
Podium chief executive officer Tom Stynes said, “The base metal results provide an important value driver as we look to optimise a development pathway.”
The base metal enrichment consistently overlaps with previously identified high-grade sub-layering in the upper portion of the PGM horizon.
High-value mineralised domain
This creates a high-value PGM-gold-base metal mineralised domain.
Initial review of the base metal results indicates the potential significance of the base metal value and Podium will incorporate this data into resource modelling work.
Test work in progress
A metallurgical test work program is in progress in South Africa which will also feed into the resource work with results anticipated during September.
Podium is planning a second drilling campaign and will provide further details in the coming weeks.
The company’s core projects are within its mining leases covering an area of 77 square kilometres over the entire Weld Range Complex.
This complex lies about 40 kilometres west of the Great Northern Highway midway between Cue and Meekatharra in Western Australia.
Podium is additionally assembling a portfolio of exploration licences in WA and Northern Territory which are prospective for gold and base metals to provide a complementary pipeline of projects.