Ann: Deeper drilling shows thick PGM mineralisation open at depth, page-3

"The second phase of the maiden drilling program comprised 12 holes for 1,632m of RC drilling. The holes are positioned below the first phase of drilling with a maximum hole depth of 186m.
Thick PGM mineralisation was intercepted in each hole with high grade sub-layering above 2g/t 3E PGM and minimum width of 3m observed within the reef.

Combined with the first phase of the program, a total of 3,018m RC drilling in 34 holes has been completed along approximately 2.2km at the western end of the identified 15km strike length of Parks Reef.

The drill results show the uniform and continuous nature of thick mineralisation along strike, as seen in the first phase drilling results, extends and remains open at depth. In addition, an exceptional high grade sub-layer comprising 3m @ 5.70g/t 3E PGM from 127m was recorded in hole PRRC026.

Podium has also completed two diamond core drill holes which have twinned RC holes PRRC002 and PRRC023 on drill line 19W. The core is currently undergoing analysis at the laboratory and will provide valuable metallurgical data and advance the planned resource estimation work.

Chief Executive Officer Tom Stynes commented, “That we intercepted the reef in 33 of the 34 drilled holes over 2.2km of strike is a not only a credit to our geological team but also reflects the predictability of the mineralisation and validates our strategy to commence immediately with a resource drilling program. The thickness and continuity of mineralisation both along strike and at depth further highlights the potential of Parks Reef for a bulk mining operation and the sub-layering we are seeing within the reef provides optionality to optimise a development pathway.” Podium has additionally drilled two RC holes targeting geophysical and geochemical targets for nickel-copper sulphides in the south west corner of the tenements. No indicators of mineralisation were observed in the field however drill samples will undergo laboratory testing and Podium will review the use of down-hole geophysics to further identify and refine targets for follow up drilling"