Podium Minerals (ASX: POD) announces Australia’s first 5E PGM resource at Parks Reef

August 11, 2022 04:24 PM AEST | By Akshay

Podium Minerals (ASX: POD) announces Australia’s first 5E PGM resource at Parks Reef — Image source: Kalkine Media

First Australian 5E PGM mineral resource grade upgraded to 1.64g/t 5E PGM

The upgraded inferred resource for the PGM horizon now stands at 52.2 million tonnes with 1.64g/t for 3 Moz 5E PGM. The latest resource estimates include rhodium (Rh), iridium (Ir) and battery metal, cobalt (9,300t).

Mineral Resources at Parks Reef Source: Podium Minerals Announcement 2 August 2022

The PGM reef contains mineralisation with 0.81g/t platinum (Pt), 0.66g/t palladium (Pd), 0.08g/t Au, 0.06g/t rhodium (Rh) and 0.03g/t iridium (Ir) plus 0.07% copper (Cu), 0.09% nickel (Ni) and 0.018% cobalt (Co).

The revised mineral resource estimate has significantly upgraded the grade from 1.56g/t 3E PGM to 1.64g/t 5E PGM. The PGM horizon could be divided into the upper and lower horizons with the high-grade PGM zone containing 12.3Mt at 2.05g/t 5E PGM (1.08g/t Pt, 0.70g/t Pd, 0.21g/t Au, 0.03g/t Rh and 0.02g/t Ir).

Mineral Resources at Parks Reef Source: Podium Minerals Announcement 2 August 2022

The analysis of all five PGM elements adds rhodium and iridium to the mineral resource estimate. Rhodium and iridium have together delivered a 5% increase in the resource estimate, upgrading it to 3Moz 5E PGM.

Inferred 5E PGM Resource grade (L) and average weighted price of 5E PGM resource along with base metals Source: Podium Minerals Announcement 2 August 2022

Rhodium and Iridium have together added 44% to the earlier announced 3E PGM average weighted price per ounce at Parks Reef from AU$1,965/oz to AU$2,827/oz along with significant by-product credits from base metals (Cu, Ni and Co). The economic potential to extract EV metal, Cobalt, has also bolstered the economic potential of the Parks Reef PGM project.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.