Toronto, Ontario–(Newsfile Corp. – January 19, 2021) – Remaining outcomes from the 2020 Tyko drill program embody large 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, situated on the Smoke Lake goal of the Tyko Ni-Cu-PGE Mission mentioned Palladium One Mining (TSXV: PDM) (FSE: 7N11) (OTC Pink: NKORF) (“Palladium One” or the “Firm”) as we speak. 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 vital encouragement for extra discoveries, particularly given Tyko is extremely underexplored. The Tyko mission 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.
- 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.
- Together with 9.9% Ni_Eq over 3.8 meters (8.1% Ni, 2.9% Cu, 1.3g/t PGE).
- 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.
- Together with 11.8% Ni_Eq over 0.6 meters (9.6% Ni, 3.7% Cu, 1.5g/t PGE).
- All 13 holes drilled at Smoke Lake intersected magmatic sulphides.
- A number of large sulphide intercepts as much as 4 metres have been encountered.
- 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 check 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 large 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 at present underway which can additional delineate the Smoke Lake large sulphide physique.
Drilling thus far signifies a mineralized ultramafic physique at floor, transitioning to large sulphides which dip shallowly (~32°) to the southwest. The large sulphides happen as a constant sheet with a attainable fault close to its base which may very well be controlling their emplacement in tonalite.
The lithologies at Smoke Lake carefully resemble these discovered at each the Tyko and RJ showings, situated 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|
(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 unique goal on the Tyko Property.
Determine 1. Huge magmatic sulphide intersection in gap TK-20-023.
Determine 2. Closeup of large magmatic sulphide in gap TK-20-023.
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
Determine 4. Plan map of the Smoke Lake space with 1st Vertical Magazine because the background exhibiting soil samples, in addition to the axial traces of the 2 carefully spaced floor based mostly horizontal loop EM anomalies, and 2020 drill holes.
*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 in keeping with the commodity costs used within the Firm’s September 2019 NI 43-101 Kaukua useful resource estimate.
About Tyko Ni-Cu-PGE Mission
The Tyko Ni-Cu-PGE Mission, is situated roughly 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, excessive sulphide tenor, nickel targeted mission 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 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 stage firm targeted on discovering Inexperienced Vitality 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 mission is the Läntinen Koillismaa or LK Mission, a palladium-dominant platinum group element-copper-nickel mission 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 targeted 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
For additional data contact:
Derrick Weyrauch, President & CEO
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