Podium Minerals Launches Major Drilling to Boost Parks Reef PGM Project

Podium Advances Parks Reef with Strategic Drilling Campaign

Podium Minerals Limited (ASX – POD) has commenced a significant next-phase drilling campaign at its flagship Parks Reef Platinum Group Metals (PGM) Project in Western Australia. The program is designed to underpin the development of Podium’s proprietary Concentrator flowsheet, a breakthrough metallurgical process that the company recently unveiled as a game-changer for PGM extraction.

The multi-phase drilling initiative includes both diamond core and reverse circulation methods, targeting bulk sulphide and oxide mineral samples. These samples are critical for scaling up metallurgical test work from batch to continuous pilot testing, a key step toward de-risking the project and confirming the robustness of the flowsheet across varying ore types.

Deeper Insights and Broader Resource Understanding

Beyond metallurgical sampling, the campaign aims to deepen geological understanding by drilling at depths between 300 and 400 meters. This will help confirm resource continuity at depth, a vital factor for long-term project viability. Additionally, the program will collect samples from different mineralised zones, including oxide and copper-gold areas, to support process development and diversify potential revenue streams.

Podium’s Executive Chairman, Rod Baxter, highlighted the strategic importance of this drilling phase, noting that the Concentrator breakthrough positions the company at the forefront of Australia’s PGM sector. He emphasized that pilot-scale testing will provide essential operational data to accelerate feasibility studies and ultimately support Podium’s ambition to become the country’s premier PGM producer.

Market Context and Financial Strength

The timing of this campaign aligns with strengthening fundamentals in the global PGM market, where platinum and palladium have experienced consecutive years of supply deficits. Geopolitical factors have further underscored the strategic value of securing reliable PGM sources outside traditional jurisdictions, enhancing the significance of Parks Reef’s development.

Financially, Podium is well positioned with approximately A$13.2 million in cash following a recent entitlement offer. This strong balance sheet provides a solid runway to fund the drilling program and subsequent pilot testing phases, supporting sustained progress through to late Q1 2026 and beyond.

Assay results from the drilling are expected to be released progressively, offering ongoing insights into the project’s potential and informing next steps in metallurgical and resource development.