IF assay says 89 % iron, it was measured with XRF in my opinion. There are missing elements like alkali metals, calcium, sulfur, and mainly light elements like oxygen - if it is an ore.
There is simply not enough info to justify any meaningful answers in the moment, as smelting can be only justified from some content of values to pay for exorbitant gas/electricity/crucible/furnance maintenance fees. If PGMs aren´t following sulfides, that is another red flag for me. At least it would be strange.
In the industry, aside from very very rich ores with microscopic particles of rich sulfides or metals which cannot be separated from gangue, there is no other way of pre-concentration than gravity/flotation/cyanation-leaching in general. You need to reduce the bulk, and that is very expensive with smelting aproach. If you cannot make concentrate, that´s probably the end of the venture
And again, but very importantly, get together more info about that assay, as 89% iron is not possible in the ore. Find out what that assay measured, and what it didn´t. That is very important, what elements were omitted. In that case, it is irrelevant to calculate any meaningful PM contents, as you simply start with bad set of numbers.