Toronto, Ontario–(Newsfile Corp. – January 19, 2021) – Closing outcomes from the 2020 Tyko drill program embrace huge magmatic sulphides grading as much as 9.9% Ni_Eq* (218 kilos per tonne) over 3.8 Meters (8.1% Ni, 2.9% Cu, 1.3/t PGE), beginning at lower than 9 meters true-depth, positioned on the Smoke Lake goal of the Tyko Ni-Cu-PGE Undertaking mentioned Palladium One Mining (TSXV: PDM) (FSE: 7N11) (OTC Pink: NKORF) (“Palladium One” or the “Firm”) at this time. The intercept is inside a broader interval that returned 6.1% Ni_Eq over 7.5 Meters (135 kilos per tonne) (4.5% Ni, 2.9% Cu, 1.0g/t PGE) from 5.3 meters down gap.
These outcomes are along with beforehand introduced outcomes of 8.7% Ni_Eq* (193 kilos per tonne) over 3.8 Meters (6.6% Ni, 3.7% Cu, 1.5g/t PGE) (see press launch January 5, 2021) and 7.5% Ni_Eq* (164 kilos per tonne) over 4.2 Meters (5.8% Ni, 2.7% Cu, 1.3/t PGE) (see press launch January 12, 2021).
“Smoke Lake continues to ship terribly high-grade intercepts. The very best thus far being 9.9% Ni_Eq over 3.8 meters, inside a broader intercept of 6.1% Ni_Eq over 7.5 meters! An especially high-value, close to floor useful resource seems inside our grasp at Smoke Lake.
“The large sulphide mineralization discoveries, mixed with historic high-grade drill outcomes 17-km to the west, present important encouragement for extra discoveries, particularly given Tyko is extremely underexplored. The Tyko undertaking covers over 20,000 hectares, which incorporates the 7,000 hectare mafic-ultramafic Bulldozer intrusion, which has seen nearly no geological mapping nor exploration,” mentioned Derrick Weyrauch, President and CEO.
Key Highlights:
Gap TK-20-023 returned 6.1% Ni_Eq over 7.5 meters (4.5% Ni, 2.9% Cu, 1.0g/t PGE) from 5.3 meters down gap.
Gap TK-20-025, returned 6.3% Ni_Eq over 3.2 meters (4.4% Ni, 3.6% Cu, 0.9g/t PGE) from 36.6 meters down gap.
All 13 holes drilled at Smoke Lake intersected magmatic sulphides.
A magmatic sulphide mineralized strike size of 270 meters has been outlined by drilling and the deepest intercept thus far has a real depth of solely 100 meters.
Mineralization stays open to the northwest and down dip.
The 2020 Tyko drill program consisted of 14 drill holes totalling 1,123 meters, 13 holes have been drilled into the Smoke Lake electromagnetic (“EM”) anomaly. This program was the primary to drill take a look at the Smoke Lake EM anomaly (see press launch January 21, 2020, November 18, 2020, December 7, 2020, January 5, 2021, January 12, 2021). Excessive-resolution drone-based magnetic and ground-based horizontal loop EM surveys, undertaken shortly earlier than drilling, refined the anomaly ensuing within the profitable discovery of huge magmatic sulphides. The ultimate gap of this system (TK-20-028) examined a separate magnetic anomaly which intersected mafic-ultramafic rocks with anomalous nickel that are interpreted to be associated to the Smoke lake mineralization.
A bore gap EM survey is presently underway which is able to additional delineate the Smoke Lake huge sulphide physique.
Drilling thus far signifies a mineralized ultramafic physique at floor, transitioning to huge sulphides which dip shallowly (~32°) to the southwest. The large sulphides happen as a constant sheet with a doable fault close to its base which could possibly be controlling their emplacement in tonalite.
The lithologies at Smoke Lake intently resemble these discovered at each the Tyko and RJ showings, positioned 17-kilometers to the west, which returned as much as 1.06% Ni and 0.35% Cu over 6.22 m together with 4.71% Ni and 0.82% Cu over 0.87 m in gap TK-16-010 (see press launch June 8, 2016).
Desk 1: Tyko 2020 Drill Outcomes from the Smoke Lake Discovery
Gap | From (m) | To (m) | Width (m) | Ni_Eq % | Ni_Eq lbs/t | Ni % | Cu % | Co % | PGE g/t (Pd+Pt+Au) | Pd g/t | Pt g/t | Au g/t |
TK-20-015 | 30.0 | 32.4 | 2.3 | 4.78 | 105 | 3.90 | 1.41 | 0.05 | 0.84 | 0.48 | 0.35 | 0.01 |
Inc. | 31.4 | 32.4 | 1.0 | 8.04 | 177 | 7.26 | 0.85 | 0.09 | 1.05 | 0.57 | 0.48 | 0.01 |
TK-20-016 | 29.0 | 32.8 | 3.8 | 8.74 | 193 | 6.65 | 3.70 | 0.09 | 1.51 | 0.67 | 0.81 | 0.03 |
Inc. | 29.8 | 32.5 | 2.7 | 9.80 | 216 | 7.47 | 4.16 | 0.10 | 1.64 | 0.74 | 0.87 | 0.03 |
Inc. | 29.8 | 30.3 | 0.5 | 10.05 | 221 | 8.20 | 3.08 | 0.10 | 1.50 | 0.88 | 0.58 | 0.04 |
TK-20-017 | 28.1 | 32.3 | 4.2 | 1.71 | 38 | 1.17 | 0.99 | 0.02 | 0.32 | 0.18 | 0.14 | 0.01 |
Inc. | 29.0 | 31.1 | 2.1 | 3.08 | 68 | 2.14 | 1.75 | 0.03 | 0.58 | 0.32 | 0.25 | 0.01 |
Inc. | 29.9 | 30.5 | 0.6 | 5.20 | 115 | 3.88 | 2.34 | 0.05 | 0.98 | 0.52 | 0.45 | 0.02 |
TK-20-018 | 36.6 | 37.6 | 1.0 | 1.34 | 30 | 0.95 | 0.54 | 0.02 | 0.52 | 0.30 | 0.21 | 0.01 |
TK-20-019 | 28.7 | 30.4 | 1.7 | 5.87 | 129 | 3.89 | 3.90 | 0.06 | 0.94 | 0.45 | 0.48 | 0.02 |
Inc. | 29.5 | 30.4 | 0.8 | 8.71 | 192 | 6.17 | 4.73 | 0.09 | 1.59 | 0.79 | 0.78 | 0.02 |
TK-20-020 | 32.1 | 38.7 | 6.6 | 0.92 | 20 | 0.65 | 0.45 | 0.01 | 0.20 | 0.09 | 0.11 | 0.00 |
Inc. | 32.1 | 34.1 | 2.0 | 1.86 | 41 | 1.29 | 1.07 | 0.02 | 0.37 | 0.18 | 0.19 | 0.01 |
TK-20-021 | 47.8 | 49.6 | 1.8 | 3.91 | 86 | 2.75 | 1.79 | 0.09 | 0.97 | 0.38 | 0.58 | 0.02 |
Inc. | 47.8 | 49.0 | 1.2 | 5.38 | 119 | 3.76 | 2.49 | 0.13 | 1.31 | 0.50 | 0.79 | 0.03 |
TK-20-022 | 46.8 | 51.0 | 4.2 | 7.46 | 164 | 5.83 | 2.74 | 0.09 | 1.28 | 0.56 | 0.70 | 0.01 |
Inc. | 48.5 | 50.6 | 2.1 | 8.78 | 193 | 7.26 | 2.34 | 0.12 | 1.30 | 0.48 | 0.81 | 0.01 |
TK20-023 | 5.3 | 12.8 | 7.5 | 6.07 | 134 | 4.49 | 2.86 | 0.06 | 1.01 | 0.44 | 0.55 | 0.02 |
Inc. | 8.9 | 12.8 | 3.8 | 9.87 | 218 | 8.13 | 2.88 | 0.11 | 1.33 | 0.61 | 0.71 | 0.02 |
Inc. | 8.9 | 10.5 | 1.6 | 11.05 | 244 | 9.80 | 1.67 | 0.13 | 1.27 | 0.54 | 0.72 | 0.01 |
Inc. | 9.5 | 10.0 | 0.5 | 11.21 | 247 | 10.30 | 0.80 | 0.15 | 1.25 | 0.50 | 0.74 | 0.02 |
TK20-024 | 109.0 | 109.9 | 0.9 | 6.27 | 138 | 5.42 | 0.96 | 0.07 | 1.40 | 0.71 | 0.68 | 0.01 |
Inc. | 109.0 | 109.6 | 0.6 | 7.85 | 173 | 7.01 | 0.63 | 0.09 | 1.80 | 0.93 | 0.86 | 0.01 |
TK20-025 | 36.6 | 39.8 | 3.2 | 6.32 | 139 | 4.43 | 3.63 | 0.07 | 0.87 | 0.43 | 0.41 | 0.02 |
Inc. | 36.6 | 38.8 | 2.2 | 8.72 | 192 | 6.15 | 4.94 | 0.10 | 1.19 | 0.60 | 0.56 | 0.03 |
Inc. | 37.2 | 37.8 | 0.6 | 11.82 | 261 | 9.65 | 3.69 | 0.13 | 1.48 | 0.94 | 0.53 | 0.01 |
TK20-026 | 49.5 | 56.5 | 7.1 | 0.47 | 10 | 0.26 | 0.39 | 0.01 | 0.12 | 0.04 | 0.06 | 0.03 |
Inc. | 52.7 | 53.3 | 0.6 | 1.32 | 29 | 0.48 | 1.72 | 0.02 | 0.25 | 0.09 | 0.15 | 0.01 |
TK20-027 | 15.8 | 29.5 | 13.7 | 0.25 | 5 | 0.16 | 0.15 | 0.00 | 0.05 | 0.02 | 0.03 | 0.00 |
Inc. | 18.8 | 21.7 | 2.9 | 0.67 | 15 | 0.48 | 0.29 | 0.01 | 0.19 | 0.08 | 0.11 | 0.00 |
TK20-028 | 25.0 | 27.0 | 2.0 | 0.17 | 4 | 0.15 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
(1) Reported widths are “drilled widths” not true widths.
(2) Shaded outcomes are beforehand launched, see press launch January 5, 2020, January 12, 2021.
(3) TK-20-028 examined a special goal on the Tyko Property.
Determine 1. Huge magmatic sulphide intersection in gap TK-20-023.
To view an enhanced model of Determine 1, please go to:
https://orders.newsfilecorp.com/files/6502/72322_ae7bba8014b49955_001full.jpg
Determine 2. Closeup of huge magmatic sulphide in gap TK-20-023.
To view an enhanced model of Determine 2, please go to:
https://orders.newsfilecorp.com/files/6502/72322_ae7bba8014b49955_002full.jpg
Determine 3. Excessive-grade intersection from gap TK-20-025 which returned 11.8% Ni_Eq over 0.6 meters (9.6% Ni, 3.7% Cu, 1.5g/t PGE) from 37.2 to 37.8m
To view an enhanced model of Determine 3, please go to:
https://orders.newsfilecorp.com/files/6502/72322_ae7bba8014b49955_003full.jpg
Determine 4. Plan map of the Smoke Lake space with 1st Vertical Magazine because the background displaying soil samples, in addition to the axial traces of the 2 intently spaced floor primarily based horizontal loop EM anomalies, and 2020 drill holes.
To view an enhanced model of Determine 4, please go to:
https://orders.newsfilecorp.com/files/6502/72322_ae7bba8014b49955_004full.jpg
*Nickel Equal (“Ni_Eq”)
Nickel equal is calculated utilizing US$1,100 per ounce for palladium, US$950 per ounce for platinum, US$1,300 per ounce for gold, US$6,614 per tonne (US$3.00 per pound) for copper, US$15,432 per tonne (US$7.00 per pound) for nickel and US$30,865 per tonne (US$14 per pound) for Cobalt. This calculation is per the commodity costs used within the Firm’s September 2019 NI 43-101 Kaukua useful resource estimate.
About Tyko Ni-Cu-PGE Undertaking
The Tyko Ni-Cu-PGE Undertaking, is positioned roughly 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, excessive sulphide tenor, nickel centered undertaking with the latest drill gap intercepts returning as much as 9.9% Ni_Eq over 3.8 meters (8.1% Ni, 2.9% Cu, 1.3g/t PGE) in gap TK-20-023.
Certified Particular person
The technical info on this launch has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Firm and the Certified Particular person as outlined by Nationwide Instrument 43-101.
About Palladium One
Palladium One Mining Inc. is an exploration stage firm centered on discovering Inexperienced Power Metals (Metals for Clear Air). The Firm has 4 district scale, platinum-group-element (PGE)-copper-nickel deposits in Finland and Canada. Its most superior undertaking is the Läntinen Koillismaa or LK Undertaking, a palladium-dominant platinum group element-copper-nickel undertaking in north-central Finland, ranked by the Fraser Institute as one of many world’s high international locations for mineral exploration and improvement. Exploration at LK is concentrated on concentrating on disseminated sulfides alongside 38 kilometers of favorable basal contact and constructing on a longtime NI 43-101 open pit useful resource.
ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director
For additional info contact:
Derrick Weyrauch, President & CEO
E mail: info@palladiumoneinc.com
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