Palladium One Acquires the Shabotik Zone Adding to the Tyko Sulphide Ni-Cu-PGE Project, Ontario, Canada
Palladium One Mining Inc.
Suite 550 - 800 West Pender St. | Vancouver, BC | Canada V6C 2V6
P-778 327 5799 | F-778.327.6675 | [email protected]
NEWS RELEASE TSX-V: PDM
FRA: 7N11
Palladium One Acquires the Shabotik Zone Adding to the
Tyko Sulphide Ni-Cu-PGE Project, Ontario, Canada
August 19, 2019 – Vancouver, B ritish Columbia – Palladium One Mining Inc. (TSX-V: PDM ,
FRA: 7N11 ) (the " Company" or “ Palladium One ”) is pleased to announce that the Company has
acquired, through staking, 12 new claims totalling 25 4 hectares covering the historic Shabotik Zone ,
located 4.5km south of the Tyko project, near Marathon, Ontario.
Limited exploration has been carried out on the Shabotik zone since 1969. The zone was visited and
sampled by the Ministry of Northern Development and Mines staff in 1988, results of this visit and select
assay from trenching in the 1980’s are listed in Table 1 . The Shabotik mineraliz ation is hosted by
amphibolite facies mafic-ultramafic intrusive rocks which are in turn hosted within tonalitic gneiss and
metasedimentary mig matitic rocks. The Shabotik mafic-ultramafic body has been traced for
approximately 90m on surface with widths up to 30m. Su lphide mineralization is dominated by pyrite,
chalcopyrite, pyrrhotite and pentlandite, occur ring interstitial to or as replacement of silicates minerals.
Sulphide concentrations may exceed 25% locally but average closer to 3%.
Table 1. Select assay values from the Shabotik zone
Sample
No. Description
Cu
wt%
Ni
wt%
Pt
g/t
Pd
g/t
Au
g/t
PGE
(Pt+Pd
+Au)
84BRG-01 diorite, semi-massive pyrite, chalcopyrite 2.38 n/a* 3.05 0.68 0.04 3.77
84BRG-03 diorite, semi-massive pyrite, chalcopyrite 2.66 n/a* 0.76 0.40 0.04 1.20
88BSH-08 mafic, hornblende rich; 5-10% sulphides 0.47 0.45 1.10 0.55 0.02 1.67
88BSH-07 coarse-grade diorite; 30-40% sulphide 1.55 0.40 0.27 0.45 0.04 0.76
88BSH-09 medium-grained diorite; <30% sulphides 0.38 1.00 0.27 0.70 0.02 0.99
88BSH-16 amphibole pegmatite, 20% sulphide; Pyrite
> chalcopyrite
0.64 0.24 2.82 1.12 0.02 3.96
*n/a: element not analysed
Table is modified from: Report on Activities 1988 Resident Geologists, Ontario Geological Survey Miscellaneous Paper 142
Derrick Weyrauch, Interim President and CEO stated, “We are very pleased to add the Shabotik zone to
the larger Tyko Sulphide Ni-Cu-PGE project. This zone has returned up to 2.66% Cu, 1% Ni and up to
3.05 g/t Pt in select assay samples. With limited exploration conducted on the property, w e look forward
to expanding the Shabotik style mineralization.”
About Tyko Ni-Cu-PGE project
The Tyko Ni-Cu-PGE project, is located ~6 5km northeast of Marathon Ontario, Canada. The Tyko
project is an early stage, high sulphide tenor, nickel focused project with recent drill hole intercepts
Palladium One Mining Inc.
Suite 550 - 800 West Pender St. | Vancouver, BC | Canada V6C 2V6
P-778 327 5799 | F-778.327.6675 | [email protected]
returning up to 1.06 Ni over 6.22 m including 4.71% Ni over 0. 87m in hole TK -16-010 (see press
release dated June 8, 2016).
Qualified Person
Neil Pettigrew, M.Sc., P. Geo. Is a director of the Company and is the Qualified Person as defined by
National Instrument 43-101 and has reviewed and approved the technical information in this document.
About Palladium One:
Palladium One Mining Inc. is a PGE, nickel, copper exploration and development company. Its assets
consist of the Lantinen Koillismaa (“LK”) PGE-Cu -Ni project, located in north-central Finland and the
Tyko Ni-Cu-PGE property, near Marathon, Ontario, Canada.
ON BEHALF OF THE BOARD:
“Derrick Weyrauch”
Interim President & CEO, Director
For further information contact:
Derrick Weyrauch, Interim CEO
Email: [email protected]
Phone: 1-778-327-5799
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Palladium One Mining Inc.
Suite 550 - 800 West Pender St. | Vancouver, BC | Canada V6C 2V6
P-778 327 5799 | F-778.327.6675 | [email protected]
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