Podium Minerals Limited (ASX:POD) Parks Reef confirms deeper mineralised continuity at Target Starter Mine drilling

Podium Minerals Limited has reported assay results from six diamond drill holes completed at its Parks Reef PGM Project in Western Australia, with the program confirming mineralisation at vertical depths between approximately 300m and 450m below surface across Target Starter Mine #1 (Area 1).

The results extend below the current Mineral Resource Estimate envelope, which is constrained to approximately 250m depth over a 15km strike length, and form part of a broader drilling campaign designed to test depth continuity and provide material for metallurgical evaluation .

Highlights

• Six diamond holes (PRDD024 to PRDD029) completed across ~2km strike within Target Starter Mine #1
• Five holes intersected PGM and Cu Au mineralisation between 300m and 450m vertical depth
• Best result recorded in PRDD027: 27.7m @ 2.04 g/t 5E from 411.4m, including 1.8m @ 4.34 g/t 5E
• PRDD026 returned 25.6m @ 1.67 g/t 5E from 448.8m, including 1.1m @ 4.01 g/t 5E
• PRDD024 delivered 28.1m @ 1.11 g/t 5E from 472.9m
• PRDD028 returned 15.6m @ 1.69 g/t 5E from 348.0m
• Mineralisation confirmed beneath ~250m Mineral Resource Estimate depth envelope

The drilling program comprised six HQ diamond holes completed on six sections across approximately 2km of strike within Area 1, with downhole depths ranging from 426m to 510m.

The holes were designed to test down-dip extensions of the PGM Zone and Cu Au Zone beneath the existing model and to generate deeper core samples for ongoing metallurgical test work and flowsheet evaluation .

Across the program, five of the six holes intersected significant PGM Zone mineralisation between 300m and 450m below surface, with intercept widths ranging from 11.1m to 28.1m and grades broadly consistent with those reported within the current Mineral Resource Estimate.

PRDD027 recorded the strongest result, returning 27.7m @ 2.04 g/t 5E from 411.4m, including a higher-grade internal interval of 1.8m @ 4.34 g/t 5E, while PRDD026 returned 25.6m @ 1.67 g/t 5E from 448.8m, PRDD028 intersected 15.6m @ 1.69 g/t 5E from 348.0m, and PRDD024 returned 28.1m @ 1.11 g/t 5E from 472.9m, confirming mineralisation at approximately 460m below surface on that section.

The announcement notes that mineralisation styles, including discrete higher-grade domains exceeding 2.5 g/t 5E, are consistent with those identified in shallower portions of the system.

It also records that PRDD025 intersected Cu Au and PGM zones separated by a tonalite intrusion, while PRDD029 returned lower-grade and thinner mineralisation, interpreted in the announcement as being affected by intrusive disruption to the reef, and these geological features are incorporated within the current interpretation of the deposit model.

Podium Minerals Managing director and chief executive Rod Baxter said,

“We are highly encouraged by the results from the recent deeper drilling at Parks Reef.”

He noted that five of the six holes confirmed vertical continuity of the PGM Zone at depth across approximately 2km of strike within Area 1, and that grades and widths were comparable to those defined within the existing near-surface Mineral Resource Estimate, which is constrained to 250m depth .

Podium Minerals further states that historic drilling completed in 2022 intersected mineralisation at approximately 500m vertical depth across three holes along the broader 15km strike, providing additional reference points for deeper continuity assessment.

Together with the current program, these results extend confirmed mineralisation to at least 450m to 500m below surface in multiple locations across the deposit .

Selected core from the deeper drilling has been incorporated into ongoing metallurgical test work, including concentrator flowsheet validation and optimisation studies.

Assays for four oxide RC holes drilled to approximately 48m to 66m depth remain pending and will be reported upon receipt.

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