Parks Reef consists of a zone of identified PGM-Au-base metal mineralisation extending over a 15km long strike. The historical drilling primarily consisted of shall holes into the supergene mineralisation and which has identified the extents of the reef.
Podium is targeting both high grade and bulk tonnage low grade PGM-Au-base metals suitable to develop a low cost open pit mining operation and future access to high grade PGM mineralisation at deeper levels by development of underground mining operations from the base of the open pit. The near vertical orientation of the reef provides favourable geometry for both open pit and underground mining.
Since listing on the ASX in February 2018 Podium has aggressively pursued a systematic drilling program with an objective of defining near surface mineral resources extending into the primary mineralisation (sulphide zone). Drilling completed to date has confirmed continuity of thick PGM mineralisation along the drilled strike. The drilling has also shown a horizon of base metal and gold enrichment in the hanging wall above the PGM horizon. The base metal and gold mineralisation overlaps with the upper portion of the PGM horizon which also exhibits elevated PGM grades and provides a high value domain within the reef with coincident enrichment of platinum gold and copper.
Drill section in western zone of Parks Reef showing mineralised horizons
Podium released a maiden Mineral Resource estimate for Parks Reef in October 2018, with Mineral Resource upgrades released in March 2019 and February 2020. The current Mineral Resources are defined over approximately 6.9km of the 15km strike length of Parks Reef and within 100m from surface. The Mineral Resources contains 1,140,000 ounces of combined platinum, palladium and gold plus base metal credits with 37,300 tonnes of copper. The mineralisation remains open at depth and along strike.
Potential also exists for parallel reefs both above and below Parks Reef containing PGM-Au-base metal mineralisation. This potential is supported by magnetic imagery and geochemistry which will be tested by further exploration drilling.
Plan and long section of Parks Reef Mineral Resources