Toronto, Ontario–(Newsfile Corp. – January 12, 2021) – Outcomes for six further drill holes containing a number of large magmatic sulphides intercepts grading as much as 7.5% Ni_Eq* (164 kilos per tonne) over 4.2 Meters (5.8% Ni, 2.7% Cu, 1.3/t PGE), have been obtained from the 2020 Tyko drill program, situated on the Smoke Lake goal of the Tyko Ni-Cu-PGE Mission stated Palladium One Mining (TSXV: PDM) (FSE: 7N11) (OTC: NKORF) (“Palladium One” or the “Firm”) in the present day. These outcomes are along with final weeks announcement 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).
- Gap TK-20-022, returned 7.5% Ni_Eq over 4.2 meters (5.8% Ni, 2.7% Cu, 1.3g/t PGE)from 46.8 meters down gap.
- Together with 8.8% Ni_Eq over 2.1 meters (7.3% Ni, 2.3% Cu, 1.3g/t PGE).
- Gap TK-20-019 returned 5.9% Ni_Eq over 1.7 Meters (3.9% Ni, 3.9% Cu, 0.9g/t PGE)from 28.7 meters down gap.
- Together with 8.7% Ni_Eq over 0.8 meters (6.2% Ni, 4.7% Cu, 1.6g/t PGE).
- All 13 holes drilled at Smoke Lake intersected magmatic sulphides.
- A number of large sulphide intercepts as much as 4 metres had been encountered.
- Assays for the remaining 5 holes are pending.
- 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.
“Smoke Lake continues to ship exceptionally high-grade, nickel-copper, large sulphide intersections, that are demonstrating the extraordinarily high-value, close to floor useful resource potential at Smoke Lake. This grass roots discovery underscores simply how beneath explored Tyko is, there’s important potential for extra discoveries. The Tyko challenge covers over 20,000 hectares, which incorporates the 7,000-hectare mafic-ultramafic Bulldozer intrusion, which has seen nearly no geological mapping nor exploration,” stated Derrick Weyrauch, President and CEO.
The 2020 Tyko drill program consisted of 14 drill holes totalling 1,123 meters, 13 holes had 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. Excessive-resolution drone-based magnetic and ground-based giant loop time area survey (TDEM) surveys, undertaken shortly earlier than drilling, refined the anomaly ensuing within the profitable discovery of large magmatic sulphides returning 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). A bore gap EM survey is scheduled to be accomplished in January 2021 to 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 mineralization happens as a constant sheet with a attainable 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, 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
|PGE g/t |
(1) Reported widths are “drilled widths” not true widths.
(2) Shaded outcomes are beforehand launched, see press launch January 5, 2020
Determine 1. Huge magmatic sulphide intersection in gap TK-20-016. Wall rock is tonalite.
Determine 2. Closeup of large magmatic sulphide in gap TK-20-016.
Determine 3. 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.
*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 line 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 challenge that hosts at floor large magmatic sulphides. Latest drilling intercepted as much as 8.7% Ni_Eq* over 3.8 Meters (6.6% Ni, 3.7% Cu, 1.5g/t PGE) in gap TK-20-016 (see press launch January 5, 2021) .
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 Individual as outlined by Nationwide Instrument 43-101.
About Palladium One
Palladium One Mining Inc. is an exploration firm concentrating on 4 district scale, platinum-group-element (PGE)-copper-nickel deposits in Finland and Canada. Its most superior 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 high nations 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 info contact:
Derrick Weyrauch, President & CEO
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