Toronto, Ontario–(Newsfile Corp. – April 6, 2021) – A 2,000-meter Section II drilling program on the high-grade Smoke Lake nickel discovery, which returned as much as 9.9% Ni_Eq over 3.8 meters from floor (see press launch January 19, 2021), on the Tyko Sulphide-Nickel-Copper challenge in Ontario, Canada, has began, mentioned Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) (“Palladium One” or the “Firm”) as we speak. Upfront of drilling, in February 2021, detailed floor based mostly Electromagnetic (“EM”) and Borehole Electromagnetic (“BHEM”) surveys had been performed to higher outline the conductors internet hosting the high-grade nickel mineralization.
EM and BHEM surveys performed at Smoke Lake outlined two conductors, the deeper one was intersected by a single drill gap returning 6.3% Ni_Eq over 0.9 meters (see press launch January 19, 2021) throughout the December 2020 drill program. This decrease conductor extends past the EM survey grid to the northwest, the place it stays open for extension.
“Given the very encouraging outcomes at Smoke Lake, we have now commissioned a 3,000-line kilometer, high-resolution airborne, Versatile Time-Area Electromagnetic (VTEM™ Max) survey overlaying the complete Tyko Nickel-Copper Mission, which incorporates the Bulldozer mafic-ultramafic Intrusion, the target of which is the invention of further EM anomalies such because the Smoke Lake anomaly. The survey is predicted to be flown in Might 2021,” mentioned Derrick Weyrauch, President and CEO.
“Along with the work performed at Smoke Lake in Q1 2021, the Firm additionally accomplished a brief reconnaissance drill program of 1,233 meters in 5 drill holes and each EM and BHEM surveys on its Disraeli PGE-Ni-Cu challenge, situated in Ontario, Canada and inside the prolific mid-continental rift.”
“Vital cobalt bearing magnetite skarn mineralization was intersected. Notably, down gap geophysics outlined an off-hole conductor on the basement contact that will symbolize a mafic-ultramafic feeder system to the Disraeli Intrusion, which requires comply with up,” mentioned Weyrauch.
- A 2,000-meter Section II drilling program on the Smoke Lake high-grade sulphide nickel discovery on the Tyko Sulphide Nickel Mission has began.
- Floor based mostly and borehole EM surveys have outlined two important conductors at Smoke Lake, considered one of which extends past the survey space, the place it stays open for extension.
- Excessive-resolution drone based mostly magnetic survey knowledge suggests a bigger magnetic physique happens at depth, beneath and to the northeast of the Smoke Lake discovery.
- 3,000-line kilometer airborne VTEM™ Max survey scheduled to be flown in Might 2021 over the complete Tyko Sulphide-Nickel-Copper challenge.
- Disraeli challenge drilling intersects cobalt bearing magnetite skarn mineralization.
Tyko Section II Drilling Program and EM Surveys, Ontario, Canada
A 2,000-meter Section II drilling program on the high-grade sulphide-nickel discovery of Smoke Lake has began. From floor, the Smoke Lake zone returned 9.9% Ni Eq over 3.8 meters (8.13 % Ni, 2.88% Cu, 0.11% Co, 0.61 g/t Pd, 0.71 g/t Pt and 0.02 g/t Au), (see information launch January 19, 2021). This Section II program is designed to infill and develop the high-grade sulphide-nickel mineralization. This system is predicted to proceed till the beginning of spring climate circumstances.
In February 2021, high-resolution ground-based and borehole EM surveys had been performed at Smoke Lake. This second ground-based survey was undertaken to complement the preliminary reconnaissance survey performed in October 2020 (see press launch December 7, 2020) . The February 2021 survey supplied glorious knowledge and allowed the modeling of two conductive plates (Determine 1) which carefully match the drilling outcomes so far (Determine 1 and a couple of). These plates include smaller extremely conductive close to floor plate and a bigger much less conductive however extra expansive plate. Essentially the most important end result from this survey is that the decrease most conductor continues off the survey grid space, to the northwest the place it stays open for growth.
Along with the EM surveys, the Firm fee an inversion of the high-resolution drone based mostly magnetic survey which was flown in 2020 (see press launch December 7, 2020). The inversion mannequin reveals a big southwest plunging physique at depth, beneath the Smoke Lake zone. The Smoke Lake zone is related to a powerful magnetic excessive at floor and an elevated magnetic response at depth (Determine 3). This deep magnetic physique might symbolize mafic-ultramafic rocks related to the Smoke Lake nickel mineralization, and is a excessive precedence goal.
The Firm has contracted to fly a 3,000-line kilometer excessive decision (100-meter line spacing) airborne EM and magnetic survey utilizing the VTEM™ Max system. The Tyko challenge encompasses 200 sq. kilometers, the overwhelming majority of which has seen little to no exploration and even authorities regional mapping. The western portion of the challenge has been the topic of a number of historic airborne EM surveys, utilizing the expertise of that point (Determine 4.), nevertheless the jap portion is simply partially lined by a 1980’s Noranda survey.
Notably it was the outdated 1980’s survey that detected the Smoke Lake EM anomaly on the very finish of one of many flight strains (Determine 4). There may be very restricted airborne EM protection surrounding the high-grade Smoke Lake nickel discovery, and completely no survey protection to the south. This “terra incognita” is very potential for added huge nickel sulphide discoveries, because it additionally hosts the Firm’s Shabotik displaying which has returned as much as 1.0 % nickel in seize samples (see press launch August 19, 2019).
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|
Determine 2. Cross Part of the Smoke Lake zone displaying 2020 drill holes. (see information launch January 12, 2021)
Determine 4. Tyko Mission displaying whole subject magnetics and mineralized zones (yellow triangles). Combat strains (in black) for 1980’s Noranda survey are proven for instance the way it detected the Smoke Lake EM anomaly on the very finish of a line.
Disraeli PGE-Ni-Cu Mission Drilling and EM Surveys, Ontario, Canada
In January 2021, the Firm constructed a 2-kilometre ice street after which drilled 5 ice-based holes totalling 1,233 meters to check a number of airborne EM conductors and a reversely polarized magnetic physique beneath Hook bay of Disraeli Lake (see information launch December 9, 2020). One conductor was discovered to be attributable to huge magnetite copper-cobalt-nickel Skarn, whereas a number of of the airborne EM conductors proved to be the results of lake sediments. (Determine 5), (Desk 2). The reversely polarized magnetic physique requires further comply with up because it was not adequately defined, it might be the results of a reversely polarized granophyric sill situated beneath the Disraeli Intrusion and/or a magnetite skarn.
Borehole EM surveys had been performed on all holes drilled and had been hindered by very excessive background conductivity, which can be the results of saline brines within the Sibley Formation sediments. Of specific word was an off-hole EM conductor recognized on the Sibley – Quetico (metasedimentary basement rocks) contact (Determine 6). Unseasonably heat circumstances in early March resulted in deterioration of the ice street, chopping the drill program brief and thus this goal was not capable of be examined. This goal stays a precedence goal.
The copper-cobalt-nickel magnetite skarn is of specific curiosity as it’s enriched in cobalt (Desk 2). The mineralization intersected within the current program is similar to skarn mineralization intersected 1.5 kilometers to the south in holes U17-01 and U17-02 by a earlier operator. These holes intersected as much as 0.13 % cobalt over 2.0 meters and 0.16 % cobalt over 0.45 meters respectively.
This cobalt bearing skarn-style mineralization has now been intersected by 4 holes on the Disraeli challenge indicating it’s far more widespread that beforehand thought. The mineralization is hosted within the carbonate-rich (dolomite) Rossport unit of the Sibley Formation, largely probably representing substitute of stromatolitic beds inside the sediments. It consists of huge to stringer magnetite with 10-20% sulphides consisting of pyrite, pyrrhotite, and chalcopyrite (Determine 7).This skarn mineralization is indicative of widespread hydrothermal alteration related to both the Disraeli intrusion or one other unknown mafic-ultramafic intrusion at depth. Further, copper mineralization is thought to happen within the better Disraeli Lake space as chalcocite and malachite hosted in stromatolites with the Sibley sediments, seize samples collected by the Ministry of Northern improvement in 2011 returned as much as 1.57% Cu (Mineral Deposit Index MDI52H02NW00002) from this model of mineralization. All of this means a important magmatic hydrothermal system was current within the Disraeli Lake space, and suggests thicker and higher-grade areas of cobalt skarn mineralization are but to be found.
Desk 2: Disraeli Vital Drill Gap Intersections
|Operator||Gap||From (m)||To (m)||Width (m)||Cu %||Co %||Ni %|
|Palladium One||DL21-001||No Vital Intersections|
|Palladium One||DL21-003||No Vital Intersections|
|Palladium One||DL21-004||No Vital Intersections|
* Reported widths are “drilled widths” not true widths.
** Orange shaded values are historic beforehand launched outcomes (see Ursa Main Inc. press launch June 2, 2011)
Determine 6. Disraeli Mission Isometric view wanting north-northwest, displaying the situation of holes DL21-002, 003 and 005 together with down Gap EM plates and VOXI inverted strongly magnetic physique.
Determine 7. Cu-Co-Ni mineralized huge magnetite skarn mineralization type gap DL21-002.
*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 according to the commodity costs used within the Firm’s September 2019 NI 43-101 Kaukua useful resource estimate.
The Section I drilling program was carried out beneath the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Firm.
Drill core samples had been break up utilizing a rock noticed by Firm employees, with half retained within the core field. The drill core samples had been transported by firm employees the Firm’s core dealing with facility, to Actlabs laboratory in Thunder Bay, Ontario. Actlabs, is an accredited lab and are ISO compliant (ISO 9001:2015, ISO/IEC 17025:2017). PGE evaluation was carried out utilizing a 30 grams fireplace assay with an ICP-MS or ICP-OES end. Multi-element analyses, together with copper and nickel had been analysed by 4 acid digestion utilizing 0.5 grams with an ICP-MS or ICP-OES end.
Licensed requirements, blanks and crushed duplicates are positioned within the pattern stream at a charge of 1 QA/QC pattern per 10 core samples. Outcomes are analyzed for acceptance on the time of import. All requirements related to the outcomes on this press launch had been decided to be acceptable inside the outlined limits of the usual used
About Tyko Ni-Cu-PGE Project
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 centered challenge 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 firm focusing on district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship challenge is the Läntinen Koillismaa or LK Mission, a palladium dominant platinum group element-copper-nickel challenge 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 focusing 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 info contact: Derrick Weyrauch, President & CEO
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