3.2% Nickel, 1.0% Copper (3.9% Nickel Equivalent) from Massive Nickel Copper Sulphides at the West Pickle Zone of the Tyko Project, Canada, Reports Palladium One
3.2% Nickel, 1.0% Copper (3.9% Nickel
Equivalent) from Massive Nickel Copper
Sulphides at the West Pickle Zone of the Tyko
Project, Canada, Reports Palladium One
Highlights
Assay results:
0.97% Nickel Equivalent ("Ni Eq") over 12.6 meters
(
0.72% Ni, 0.34% Cu
, 0.02% Co,
0.14g/t Total Precious Metals ("TPM") (Pt+Pd+Au) in massive and disseminated sulphide in
hole LK-22-060
Including 3.94% Ni Eq
over 2.4 meters (
3.18% Ni, 0.99% Cu
, 0.06% Co, 0.39g/t
TPM)
Including 8.68% Ni Eq
over 0.5 metres
(
7.60% Ni, 1.25% Cu
, 0.12% Co, 0.41g/t
TPM)
Massive to semi-massive pentlandite-chalcopyrite-pyrrhotite sulphide discovery at West
Pickle Zone:
20 diamond drill holes completed to date, assay results for 9 reported
Mineralization intersected over 500-meter strike length
Geological model confirmed, Chonolith "Feeder Dyke" proximal to West Pickle Zone
intersected in hole TK22-076
West Pickle closely resembles the extremely high-grade Smoke Lake Zone located 20
kilometers to the east which has returned up to:
10.2% Ni Eq over 3.8 meters
(
8.1% Ni, 2.9% Cu
, 0.1% Co, 0.61g/t Pd, 0.71g/t Pt, and
0.02g/t Au)
in hole TK-20-023) (see news release
January 19, 2021
)
West Pickle is interpreted to be an extension of the historic RJ showing located 2.7
kilometres to the east which retuned up to:
1.04 % Ni and 0.23% Cu over 16.2 meters
in hole TK-16-002
(see press release
June 8,
2016
)
The Tyko Project represents a major new Nickel District which hosts five known nickel
sulphide zones along a 20-kilometer trend and several yet to be tested Versatile Time
Domain Electromagnetic ("VTEM")
anomalies
Toronto, Ontario--(Newsfile Corp. - November 21, 2022) -
Palladium One Mining Inc.
(
TSXV: PDM
)
(
OTCQB: NKORF
) (
FSE: 7N11
) (the "
Company
" or "
Palladium One
") is pleased to report additional
assay results from the West Pickle massive sulphide discovery in Ontario, Canada. The Tyko Property
hosts nickel, copper and cobalt, each of which has been designated a Critical Mineral.
President and CEO, Derrick Weyrauch, commented, "Tyko continues to impress as a developing Nickel
District."
At the West Pickle Zone hole TK-22-60 returned
3.9% Ni Eq over 2.4 metres
(Table 1).
Importantly,
stringers of chalcopyrite-pyrrhotite-pentlandite were observed in hole TK-22-077, which represents the
most easterly hole drilled to date at West Pickle. Hole TK-22-077 steepened unexpectedly, resulting in it
missing the targeted electromagnetic ("EM") Maxwell plate, but it still intersected mineralization
indicating the zone remains alive and well to the far east. The West Pickle mineralization has now been
defined over more than 500 meters of strike length (Figure 3 and 5).
Another significant discovery is hole TK-22-076 drilled to the west of the West Pickle Zone (Figure 3).
This hole tested an interpreted Chonolith "Feeder Dyke" structure. Hole TK-22-076 intersected 117
meters of ultramafic rocks from 68.6 to 185.6 metres downhole, including 30 meters of ultramafic
breccia (Figure 6). This is very indicative of an active feeder system, and reinforced the companies'
theory that there are numerous Chonolith "Feeder Dyke" structures on the project. To date, most of the
nickel zones discovered on the Tyko property are proximal to these interpreted Chonolith "Feeder Dyke"
structures (Figure 2), and systematic exploration of the structures could to lead to additional discoveries.
This is illustrated by Figure 4 which shows the potential for blind massive sulphide lenses, beyond the
detection depth limit of the 2021 VTEM survey.
The West Pickle discovery occurs on the Pezim II claim block of the larger Tyko Project (seen new
release
July 27, 2022
). To date a total of 20 holes, totalling 4,604 meters have been drilled in the vicinity
of the West Pickle Discovery. In October, the drill program at Tyko resumed following the traditional
moose hunting season and is scheduled to continue to the end of the year. Drilling resumed in Smoke
Lake area, while results form a borehole EM survey "BHEM" completed at West Pickle are interpreted.
The BHEM survey was carried out to further refine the geometry and extend the mineralization
intersected to date.
Table 1: Assay Results: Tyko 2022 Drill Results from the new West Pickle Zone
Hole
From (m)
To (m)
Width (m)
Ni_Eq %
Ni
%
Cu %
Co %
TPM g/t
(Pd+Pt+Au)
Pd g/t
Pt g/t
Au g/t
TK21-058
214.1
214.6
0.5
0.05
0.04
0.02
0.00
0.00
0.00
0.00
0.00
TK21-059
184.0
187.7
3.7
3.54
2.33
1.85
0.06
0.45
0.21
0.21
0.03
TK21-059
185.3
187.7
2.4
5.27
3.49
2.73
0.09
0.64
0.30
0.30
0.04
TK21-059
185.3
187.0
1.8
7.20
4.79
3.67
0.12
0.87
0.41
0.41
0.05
TK21-059
185.3
185.9
0.6
10.11
8.21
1.60
0.24
1.62
0.80
0.79
0.03
TK21-060
183.7
196.3
12.6
0.97
0.72
0.34
0.02
0.14
0.06
0.06
0.02
TK21-060
184.3
189.0
4.7
2.25
1.77
0.63
0.03
0.27
0.12
0.12
0.03
TK21-060
186.6
189.0
2.4
3.94
3.18
0.99
0.06
0.39
0.18
0.19
0.02
TK21-060
188.0
188.5
0.5
8.68
7.60
1.25
0.12
0.41
0.18
0.20
0.03
TK21-061
188.7
190.8
2.1
1.08
0.75
0.43
0.01
0.28
0.14
0.11
0.03
TK21-061
190.2
190.8
0.6
2.16
1.62
0.67
0.03
0.47
0.25
0.20
0.02
TK21-062
202.0
213.5
11.5
0.11
0.06
0.08
0.00
0.04
0.01
0.01
0.01
TK21-062
203.6
204.4
0.8
0.38
0.16
0.35
0.01
0.14
0.05
0.07
0.02
TK21-063
149.0
152.0
3.0
0.23
0.07
0.24
0.00
0.13
0.04
0.05
0.05
TK21-063
149.5
150.5
1.0
0.51
0.15
0.54
0.00
0.32
0.09
0.12
0.11
TK21-064
219.8
245.5
25.8
0.06
0.04
0.02
0.00
0.01
0.00
0.00
0.00
TK21-064
219.8
220.3
0.5
0.91
0.65
0.27
0.03
0.21
0.10
0.11
0.01
TK21-065
224.3
246.0
21.7
0.06
0.04
0.02
0.00
0.01
0.00
0.00
0.00
TK21-065
240.8
246.0
5.2
0.14
0.10
0.05
0.00
0.02
0.01
0.01
0.00
TK21-065
240.8
241.2
0.4
0.53
0.40
0.18
0.01
0.06
0.04
0.02
0.00
TK21-066
150.3
178.5
28.2
0.08
0.06
0.02
0.00
0.01
0.00
0.00
0.00
TK21-066
158.9
162.9
4.0
0.26
0.19
0.07
0.01
0.02
0.01
0.01
0.00
TK21-066
161.2
162.9
1.7
0.44
0.35
0.12
0.01
0.04
0.02
0.01
0.00
TK21-067
Assays Pending
TK21-068
Assays Pending
TK21-069
Assays Pending
TK21-070
Assays Pending
TK21-071
Assays Pending
TK21-072
Assays Pending
TK21-073
Assays Pending
TK21-074
Assays Pending
TK21-075
Assays Pending
TK21-076
Assays Pending
TK21-077
Assays Pending
(1)
Reported widths are "drilled widths" not true widths.
(2)
Italicised grey shaded values are previously reported (see news release
October 4, 2022
)
(3)
* Ni_Equivalent is calculated for comparison purposes using, $8.5lb nickel, $4.25lb copper, $25/lb cobalt, $1,700/oz palladium, $1,100/oz platinum,
$1,800/oz gold as per Palladium One's May 2022 NI 43-101 report on the LK Project (see news release
April 25, 2022
)
and assumes 100% recovery
rates of sulphides to concentrate.
Figure 1
. Massive pentlandite-pyrrhotite-chalcopyrite sulphide intersection in hole TK-22-070 from
165.4 to 167.1 meters down hole (see new release
October 4, 2022
). Wall rock is tonalite breccia.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6502/144991_bc87212d64b679f5_001full.jpg
Figure 2.
Tyko Property map showing various mineralized zones and multi-line VTEM anomalies,
background is Calculated Vertical Gradient Magnetics ("CVG").
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/6502/144991_bc87212d64b679f5_002full.jpg
Figure 3.
Plan map of the West Pickle and RJ zones with airborne VTEM and ground EM maxwell
plates showing Chonolith structures "Feeder Dykes" with Calculated Vertical Gradient Magnetics
("CVG") as the background.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/6502/144991_bc87212d64b679f5_003full.jpg
Figure 4.
Long section looking north perpendicular to the interpreted chonolith structure linking the West
Pickle and RJ zones, showing potential for massive sulphide mineralization beyond the depth detectable
by the 2021 VTEM airborne survey.
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/6502/144991_bc87212d64b679f5_004full.jpg
Figure 5.
Long section looking south of the West Pickle Zone, showing EM plates and drilling to date.
To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/6502/144991_bc87212d64b679f5_005full.jpg
Figure 6
. Chonolith structure hosting ultramafic breccia in hole TK-22-076.
To view an enhanced version of Figure 6, please visit:
https://images.newsfilecorp.com/files/6502/144991_bc87212d64b679f5_006full.jpg
Bulldozer Mafic-Ultramafic Complex Drilling
Holes TK-22-053 to 057 totalling 988 meters, were drilled in the southeast portion of the large mafic-
ultramafic Bulldozer Complex, representing the first drill holes to test the Complex (Figure 7). The
Bulldozer Complex is host to the Bulldozer showing which has returned up to
3.34% Cu, 0.12% Ni,
0.24% Co
, 0.38 g/t Pd, 0.08 g/t Pt (see Ontario Mineral Deposit Index
MDI0000000019013
) consisting
of remobilized sulphide within a shear zone. The Complex is also host to several coincident VTEM
anomalies, Induced Polarization ("IP") chargeability, and soil anomalies (see new releases
October 28,
2021
,
November 30, 2021
,
June 9, 2021
). The mineralization within this portion of the Bulldozer
Complex consists of finely disseminated chalcopyrite and pyrite, the chalcopyrite mineralization
observed in drilling is associated with strong disseminated magnetite, locally >10%. The combination of
abundant disseminated magnetite and associated finely disseminated chalcopyrite and pyrite explain
the IP chargeability anomalies. The VTEM anomalies remain to be fully explained and could be the result
of Superparamagnetic ("SPM") effects due to magnetite grains in the soil, as the anomalies occurred on
topographic highs with thin overburden. The soil anomalies, which are also clustered on the topographic
highs appear to be a result of direct weathering of the bedrock, and are a true reflection of the
widespread anomalous nature of the copper mineralization.
Widespread anomalous 200-400 ppm copper was observed over 10's of meters in all drill holes, with
individual samples exceeding 1,000 ppm copper (Table 2). This shows that there is a significant base
metal endowment in the Bulldozer Complex, and potential remains to find higher concentrations of
sulphide mineralization, as the vast majority of the Complex remains untested.
Table 2: Assay Results: Tyko 2022 Drill Results from the Bulldozer Complex
Hole
From (m)
To (m)
Width (m)
Ni_Eq %
Ni
%
Cu %
Co %
TPM g/t
(Pd+Pt+Au)
Pd g/t
Pt g/t
Au g/t
TK21-053
no significant values (anomalous Cu 200-400ppm)
TK21-054
no significant values (anomalous Cu 200-400ppm)
TK21-055
no significant values (anomalous Cu 200-400ppm)
TK21-056
22.4
23.6
1.2
0.09
0.01
0.09
0.01
0.03
0.01
0.01
0.01
TK21-057
14.0
15.0
1.0
0.10
0.00
0.14
0.01
0.03
0.01
0.01
0.01
TK21-057
26.0
27.1
1.1
0.15
0.00
0.21
0.01
0.05
0.03
0.01
0.01
Figure 7.
Southwest portion of the Bulldozer mafic-ultramafic Complex showing, IP, soil, VTEM
anomalies, and 2022 drill hole locations.
To view an enhanced version of Figure 7, please visit:
https://images.newsfilecorp.com/files/6502/144991_bc87212d64b679f5_007full.jpg
*Nickel Equivalent ("NiEq")
Nickel equivalent is calculated using US$1,700 per ounce for palladium, US$1,100 per ounce for
platinum, US$1,800 per ounce for gold, US$4.25 per pound for copper, US$8.50 per pound for nickel
and US$25 per pound for Cobalt. This calculation is consistent with the commodity prices used in the
Company's September 2022 NI 43-101 LK resource estimate (see news release
April 25, 2022
).
About Tyko Copper-Nickel-Cobalt Project
The Tyko Copper-Nickel-Cobalt Project, is located approximately 65 kilometers northeast of Marathon
Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel-copper (2:1 ratio) project with drill
hole intercepts returning up to
10.2% NiEq
(
8.1% Ni, 2.9% Cu
, 0.1% Co, 0.61g/t Pd, 0.71g/t Pt, and
0.02g/t Au)
over 3.8 metes
in hole TK-20-023 (see news release
January 19, 2021
).
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P.
Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined
by National Instrument 43-101.
About Palladium One
Palladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially
conscious
Metals for Green Transportation
. A Canadian mineral exploration and development
company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel
deposits in Canada and Finland. The Läntinen Koillismaa (LK) Project in north-central Finland, is a
PGE-copper-nickel project that has existing NI43-101 Mineral Resources, while both the Tyko and
Canalask high-grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively.
Follow Palladium One on
,
, and at
www.palladiumoneinc.com
.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email:
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