The resource extension drilling over 2 kilometres in the central zone of Parks Reef indicates:
• Further thickening of the PGM horizon with 30 metres at 1.44 g/t 3E PGM* from 36 metres; and
• Potential for high grade pockets with 14 metres at 3.70 g/t 3E PGM* from 34 metres.
*3E PGM refers to platinum+palladium+gold expressed in units of g/t
Podium has now completed resource drilling for about 30% of the identified 15 kilometres strike length of Parks Reef.
The next step is to re-assay the mineralised intercepts for base metals, following which Podium will undertake resource modelling for the central zone, targeting a resource upgrade in Q1 2019.
It is worth noting that Podium’s maiden drilling program over 2.2 kilometres at the western end of the reef delivered an inferred resource containing 340,000 ounces of combined platinum, palladium and gold plus 14,300 tonnes of copper and 11,400 tonnes of nickel metal.
Last month, Podium confirmed the potential of ore from its Parks Reef PGM deposit to respond positively to conventional flotation processing methods.
Metallurgical test work has been undertaken on primary sulphide, oxide and transition mineralisation, with sighter flotation test work on sulphides showing similarities to Southern African sulphide PGM ores.
Oxide mineralisation from Parks Reef processed through flotation would provide Podium an opportunity to generate revenue from near-surface material.
The company is also investigating alternative process routes to maximise payable PGM, gold and base metal recoveries.