Toronto, Ontario–(Newsfile Corp. – December 9, 2020) – A brand new high-resolution drone magnetic survey discovery has outlined a big magnetic signature, a key indicator of mineralization within the Mid-Continental Rift (“MCR”), the place the Disraeli PGE Challenge is situated, in Ontario, Canada stated Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTC Pink: NKORF) (the “Firm” or “Palladium One”) at present. The magnetic survey (“Magazine”) outlined a big, reversely polarized, magnetic physique coincident with AeroTEM electromagnetic (“EM”) anomalies.
“Reversely polarized magnetic our bodies are crucial indicators of mineralization throughout the Mid-Continental Rift as demonstrated by close by palladium-platinum-nickel-copper mineral deposits and mines, that are partly, reversely polarized. The goal is high-grade PGE-rich nickel-copper mineralization situated inside magma conduits much like Clear Air Metals Inc.’s Thunder Bay North (“TBN”) and Escape Lake deposits.” stated Derrick Weyrauch, President and CEO.
“Disraeli’s Hook Bay zone is clearly a extra primitive portion of the larger Disraeli intrusion. The presence of airborne EM conductors coincident with a reversely polarized magnetic physique, one thing that doesn’t happen at TBN, suggests the potential for semi and even huge sulphides. Uncommon huge sulphide intercepts at TBN have returned spectacular grades such 98 g/t PGE (52.8 g/t Pd, 41.5 g/t Pd, 3.9 g/t Au), 3.3% Ni, and 11.6% Cu over 2.6 meters in gap BL10-197 (see Magma Metals Restricted Information Launch February 15, 2010). These grades replicate the very excessive metallic tenor of the sulphides, which is the hallmark of the PGE-rich mineralization within the Nipigon Plate portion of the Mid-Continent Rift.” commented Weyrauch.
An exploration drill allow has been obtained and the Firm plans to drill Disraeli in February 2021, pending winter ice situations.
Disraeli is situated 40 kilometers north of Clear Air Metals Inc’s TBN undertaking and solely 50 kilometers east from Impala Platinum Holdings Ltd’s (“Implats”) Lac Des Iles palladium Mine (Determine 1 and a pair of).
Determine 1. Illustration of Proterozoic Mid-Continent Rift and choose related copper-nickel-palladium-platinum deposits. The Eagle Mine operated by Lundin Mining hosts a Measured and Indicated Useful resource of 4.6 million tonnes grading 3.7% Ni, 3.1% Cu, 0.9 g/t Pt, 0.7 g/t Pd (2017 Lundin NI 43-101 report).
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Determine 2. Illustrating the Nipigon Plate portion of the Proterozoic Mid-Continent Rift displaying the West Nipigon Lineament which connects the Disraeli, Seagull and TBN intrusions. The Archean aged, Lac des Iles Palladium mine, situated 50 kilometers west of Disraeli can be proven.
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The West Nipigon Lineament (Determine 2), is believed to be a management construction for the emplacement of the TBN (Clear Air Metals Inc.), Seagull (Quadro Assets Ltd.), and Disraeli intrusions and is potential for extra magma conduits comparable to these discovered at TBN and Escape Lake.
The high-resolution drone magnetic survey recognized a really sturdy, reversely polarized magnetic physique beneath the southeast bay (Hook Bay) of Disraeli Lake. (Determine 3 and 4).
Reversely Polarized rocks are a key indicator for early mafic-ultramafic intrusives related to PGE-Ni-Cu mineralization within the Mid-Continent Rift. Parts of the close by TBN, Escape Lake, Sunday Lake (Implats), and Marathon (Era Mining) deposits are additionally reversely polarized.
The reversely polarized Hook Bay magnetic physique is coincident with a number of AeroTEM EM anomalies that have been outlined by a earlier operator in 2011 and 2014 however have been by no means drill examined (Determine 4 and 5).
The presence of airborne AeroTEM EM anomalies recommend the potential for not solely disseminated mineralization but in addition semi huge and even huge sulphides.
A lake sediment survey carried out in 2020 has proven a persistently larger ultramafic signature beneath Hook Bay in comparison with the remainder of the Disraeli Lake. Ultramafic rocks have been additionally noticed alongside the western shore of Hook Bay. All of which level to this space being a way more primitive a part of the Disraeli intrusion, and therefore doubtlessly near the magma conduit which fed the intrusion.
The Disraeli intrusion has seen a lot much less exploration than adjoining intrusions within the Nipigon Plate, solely 8 holes have been drilled on the property, and none have examined beneath Disraeli Lake. There’s a precedent for magma conduits being situated beneath lakes. Each TBN and Escape Lake magma conduits happen beneath the Present and Steepledge lakes, respectively.
Determine 3. 2011, 100-meter spaced AeroTEM survey, whole magnetic subject lowered to the pole (TMI-RTP) with 2014 Condor Geophysics interpretation highlighting the Disraeli ultramafic physique (DLUB). Observe the reversely polarised physique within the southeast bay (Hook Bay) of Disraeli Lake. The Disraeli property boundary proven in crimson, 2020 detailed drone survey space outlined in yellow, and the Hook Bay reversely polarized physique proven by dashed blue line.
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Determine 4. Picture (A) is the 2020 drone based mostly, 25-meter spaced survey, TMI-RTP magazine, goal DL-01 is the Hook Bay strongly magnetic reversely polarized physique. Picture (B) are EM anomaly picks and Maxwell plates fashions by Condor Consulting in 2014 from the 2011 AreoTEM survey. The background picture is a 60-meter conductivity depth slice.
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Determine 5. Picture (A) is an isometric view of the Hook Bay extremely magnetic physique trying north. Picture (A) was generated by Abitibi Geophysics utilizing VOXI Magnetization Vector Inversion know-how (MVI) magnetic susceptibility mannequin plotted as an isosurface utilizing the 2020 drone magnetic survey information, MVI is taken into account a greater method for modelling total magnetic susceptibility in areas like Disraeli the place each positively and reversely polarized rocks happen. Picture (B) is a cross part alongside Line A-B via the MVI magnetic susceptibility mannequin trying north. Each pictures embody Maxwell plate EM picks from Condor Consulting 2014 interpretation of the 2011 AeroTEM survey.
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Certified Particular person
The technical data 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 firm concentrating on district scale, platinum-group-element (PGE)-copper-nickel deposits in Finland and Canada. Its flagship undertaking is the Läntinen Koillismaa or LK Challenge, a palladium-dominant platinum group element-copper-nickel undertaking in north-central Finland, ranked by the Fraser Institute as one of many world’s prime nations 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
President & CEO, Director
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Derrick Weyrauch, President & CEO
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