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MINING | Podium Minerals
PODIUM
Providing an alternative su
Resource Global Network
MINERALS
upply of PGMs to the world market
MINING | Podium Minerals
Podium Minerals is an ASXlisted company focused on exploring and developing high value platinum group metals (PGMs) in the Mid West region of Western Australia, where it holds mining leases covering an area of 77 km² over the entire Weld Range Complex (WRC). Prior to listing, Podium had concentrated on consolidating the ownership of the tenements into a single set of mining leases, which included the completion of a Native Title agreement covering the tenements. This incubatory period of Podium’s history was supported by the founding shareholders in the current company who recognised the potential of the assets. Their belief in the project was rewarded when Podium listed on the ASX in February 2018. Since the IPO, Podium has been able to quickly deliver on promises and demonstrate real value.
Listing on the ASX The importance of the IPO on Podium’s company development is not lost on CEO Tom Stynes, particularly when considering the flurry of drilling that was able to take place in the Parks Reef area of the WRC last year.
Resource Global Network “An IPO brings the necessary funds into the company to allow you to advance the exploration, and that’s what we’ve been doing; proving and demonstrating the targets and the geological hypothesis behind the complex,” he says. “Being a listed company also gives an opportunity to attract shareholders, and as it does for all junior listed companies, it gives you a platform to keep moving forwards.” Within a month of listing, Podium had commenced its maiden drill programme in the Western zone of Parks Reef and this was followed up by a second campaign targeting the central zone and Keel target in September. By October, Podium had collated the results of the initial drilling campaign into a maiden JORC mineral resource estimate for Parks Reef, which estimated a total of 340,000 ounces of combined platinum, palladium and gold contained in approximately 2.2 km of the identified 15 km strike length of the reef.
Enhancing the historical data Podium’s mineral resource estimate has built on over 20 km of historical exploration drilling in Parks Reef, which formed part of a wider 60 km drilling database within the mining leases of the WRC. “Parks Reef was started in the 90s by a visionary geologist called Jenny Parks, who observed the geological structure and
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compared it to the layered intrusions of the
structured resource drilling programme
Bushveld Complex in South Africa.
to systematically demonstrate the mineralisation potential of the WRC,” Stynes
“The lease holder at the time was a company
proclaims.
called Austmin Platinum, and they undertook quite extensive surface drilling, identifying
The WRC lies approximately 40 km West
the existence of the PGM reef and the extents
of the Great Northern Highway between
of the mineralisation.”
the established mining centres of Cue and Meekatharra. Gold is the most predominant
Austmin Platinum however, completed
metal in the region, although base metals
only very limited deeper drilling below the
and iron ore are also abundant and are
supergene (oxide zone), before its parent
mined in the region.
company fell into administration and the resulting fractured ownership of the
“We are located in an established mining
tenements then halted further progress at
area and there are good road links into
the reef.
Geraldton, which has a multi-commodity port that transports concentrates and iron ore. In
“What Podium has done is taken advantage of the historical work and commenced a
terms of location, it’s fairly ideal.”
MINING | Podium Minerals
“Podium has undertaken a structured resource drilling programme to systematically demonstrate the mineralisation potential of the WRC” Tom Stynes, Podium Minerals CEO In addition to its enviable location, Podium
The company’s confidence was fully justified
also enjoys a unique geological offering in
at the beginning of March, when it released
the WRC, as there has been no primary PGM
an ASX statement confirming that the Parks
mining in Australia to date.
Reef resource had been increased by 118% to 740,000 ounces of combined platinum,
“A focused PGM play is quite unique for
palladium and gold.
Australia and in fact it’s quite unique across most of the globe when you look at the
“The really pleasing part of this news is the
consolidation of PGM production, coming
fact that we are delivering on the targets and
mostly out of Southern Africa and Russia.”
expectations that we put in our prospectus
Another resource update
and exceeding them,” says a jubilant Stynes.
After completing a drilling campaign targeting
“We have been able to do that because
the central zone of Parks Reef at the end of
of the consistency of the mineralisation.
last year, Podium marched into 2019 with a
The more drilling we are doing, the better
firm belief that it could deliver a significant
understanding we are getting of the reef
resource upgrade.
structure, which is allowing us to continue
ResourceGlobal GlobalNetwork Network Resource
very efficient resource drilling. We believe we
understanding the economics, we believe it
can take that forward along the remaining
could be quite significant,” claims Stynes.
strike of the reef.” Furthermore, the reef remains open at depth Podium was also delighted to report the
and along strike to the East, with more than
presence of additional base metals credits
10 km of strike yet to be assessed. This
in the Parks Reef resource, in the shape of
means that only 30% of the total strike length
copper and nickel mineralisation.
has been incorporated into the current Parks Reef resource.
“We have a zone of significant copper enrichment which lies above the PGM reef,
The tip of the iceberg
but it also overlaps with the top of the PGM
“Our preferred plan is to continue drilling
reef.
along the extents of the reef. The results will define the magnitude of the shallow
“In terms of what that means in a potential
resources and will then allow us to go back in
bulk open pit mining operation, when we
and target infilling of the most enriched parts
come to turning this into a project and
of the reef.”
MINING | Podium Minerals
Resource Global Network With 70% of the strike still to drill out and
the PGMs, which is where the majority of the
the resource estimate currently standing at
metal value lies, according to Stynes.
over 700,000 ounces of combined PGMs and gold, Stynes is supremely confident that the
“We think the PGM market is a huge
resource will swell beyond the million ounces
opportunity as supply is currently
(Moz) mark.
concentrated out of Southern Africa and Russia, where the mining is energy, labour
“From what we have seen so far, the
and capital intensive, with the majority deep
mineralisation is consistent and one of the
underground developments.
unique features of this reef is that it’s very thick, unlike the typically narrow reefs found
“We believe that the Parks Reef project has
in Southern Africa. The thickness of the
some pretty unique characteristics, in the fact
reef provides opportunity for a simple and
that it is a thick, shallow style deposit, and
efficient mining operation,” says the CEO.
we think a supply out of Australia is a unique opportunity and could potentially be viewed
Podium’s next steps include the necessary
as a strategic supply source.
extension drilling along strike to define the quantum of resources, as well as further
“We see PGMs as a very tight market, with
metallurgical testwork to define a processing
constrained supply and we see plenty of
route. This will then form the basis for
upside opportunities in demand,” concludes
progressing to feasibility studies for a mine
Stynes.
development. During the last 12 months, Podium has “Parks Reef is still at an early stage of its
identified high value metals with strong
development, but as we have demonstrated,
market fundamentals and growth prospects
the exploration is highly efficient. We believe
through successful exploration in the WRC.
we can continue to advance quickly.”
The next objective for Podium is to continue
Strong PGM fundamentals
drilling along the extents of the reef and define the true resource potential of Parks Reef.
Despite Podium’s discovery of the polymetallic nature of Parks Reef in the last 12 months, the company’s main focus is on
ASX:POD
a
Published by Anderson Murray Media Ltd
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