Podium Minerals Confirms Consistent High-Grade PGM Mineralisation at Parks Reef

Strong Mineral Continuity Validated by Metallurgical Drilling

Podium Minerals Limited (ASX:POD) has reinforced confidence in its flagship Parks Reef Platinum Group Metals (PGM) Project with assay results from 17 PQ diamond metallurgical drill holes. Each hole intersected both the PGM Zone and the copper-gold (Cu-Au) Zone at anticipated depths, confirming the accuracy of the company's geological and resource models. The PGM Zone intercepts ranged from 10 to 24 metres downhole, averaging around 17 metres, indicating robust and consistent mineralisation across a 3.3-kilometre strike length.

A standout intercept was recorded in hole PRDD022, which returned 2.4 metres at 2.52 grams per tonne (g/t) 5E PGE from 96 metres, including a higher-grade 1.1-metre section at 4.14 g/t 5E. Other significant intercepts include 26 metres at 1.31 g/t 5E in PRDD013 and 24.2 metres at 1.76 g/t 5E in PRDD014, underscoring the project's potential for selective mining strategies.

Metallurgical Programmes and Bulk Sampling Progress

The metallurgical drilling campaign was primarily designed to collect approximately 2 tonnes of bulk sulphide material to support ongoing test work aimed at validating and optimising the concentrator flowsheet. This material will enable process development tailored to different mineralised zones within Parks Reef. Podium's CEO Rod Baxter highlighted that the assay data not only confirms mineral continuity but also enhances structural understanding of the deposit, with 15 of the 17 holes delineating discrete high-grade hanging wall and footwall domains.

These structural insights align with prior findings reported in March 2026, where selective mining and feed grade optimisation were identified as key opportunities to improve concentrator performance. The current results also confirm the extent of gold and copper enrichment within the Cu-Au Zone, which sits above the PGM Zone hanging wall, presenting further avenues for feed optimisation.

Eastern Extension and Deeper Resource Continuity Drilling

Drilling in Area 2, located roughly 12 kilometres east of the main resource block, successfully intersected the PGM and Cu-Au zones, confirming deposit continuity at the eastern extent of Parks Reef. This complements the broader strike length of approximately 15 kilometres, with the 3.3 kilometres covered by the metallurgical holes forming a substantial sampling footprint.

Meanwhile, assay results for six deeper diamond holes, drilled to depths between 430 and 510 metres in Area 1, are awaited. These holes were designed to test resource continuity at depth and will provide additional metallurgical core for concentrator evaluation. The pending rhodium and iridium assays for four of the PQ holes will also complete the geochemical characterisation of the bulk samples.

Quality Assurance and Industry-Standard Sampling

Podium employed rigorous sampling and assay protocols, including triple tube PQ3 diamond core drilling and quarter-core sampling to ensure representativity. Assays were conducted at the NATA-accredited Bureau Veritas Minerals laboratory in Perth, using total assay techniques such as lead fire assay and nickel sulphide fire assay with ICP-MS detection. Quality control measures incorporated certified reference materials and blanks, with no significant bias detected.

This methodological robustness underpins the reliability of the reported results, which align closely with the company's prior metallurgical test work successes, including a recent concentrator flowsheet upgrade that delivered a 40% uplift in PGM grades and improved copper recovery rates. The current drilling and assay campaign thus builds on a solid technical foundation for advancing Parks Reef towards development.

These latest assay results follow the completion of the major drilling campaign announced in April 2026, which provided key bulk samples for metallurgical testing and targeted resource extension. The integration of these data sets will be critical for refining resource models and optimising mining and processing strategies at Parks Reef.