Palladium One Continues to Deliver Strong Drilling Results at Kaukua South, Finland
Palladium One Continues to Deliver Strong
Drilling Results at Kaukua South, Finland
HIGHLIGHTS
3.1 g/t Palladium Equivalent over 21.3 meters, within 2.4 g/t Palladium Equivalent over 48.5
meters at Kaukua South, LK Project, Finland
Drilling extends mineralization 200 meters on eastern side of Kaukua South, returning 1.0 g/t
Palladium Equivalent over 51.0 meters
Toronto, Ontario--(Newsfile Corp. - October 5, 2021) - Palladium One Mining Inc. (TSXV: PDM) (FSE:
7N11) (OTCQB: NKORF) ("Palladium One" or the "Company") is pleased to announce Kaukua South
drillhole LK21-088
intersected 3.1 g/t Palladium Equivalent ("Pd_Eq") over
21.3 meters, within
2.4 g/t Pd_Eq over 48.5 meters
, starting at 120 meters depth (Figure 1, and 2).
Additionally, with hole LK-21-087 returning
1.0 g/t Pd_Eq over 51.0 meters
the mineralized zone of
Kaukua South has been extended 200 meters east from previous drilling, (Figure 3).
In aggregate, the
Kaukua Trend which includes both the Kaukua deposit and the Kaukua South Zone, now boasts a drill
defined mineralized strike length of
4.4 kilometers
within a 7-kilometer-long Induced Polarization ("IP")
chargeability anomaly (Figure 1 and 3). Hole LK21-087 confirms that the eastern portion of the Kaukua
Trend remains open for further expansion, particularly given a robust IP anomaly has been identified 1
kilometer east of hole LK21-087, see news release
July 7, 2021
.
Derrick Weyrauch, President and CEO of Palladium One highlighted: "Our Kaukua South discovery
continues to deliver excellent results. Today's drill results from the eastern portion of the Kaukua Trend is
further evidence of a prolific mineralized system on our property which we plan to follow up with
additional drilling."
The eastern portion of Kaukua South has received significantly less drilling as we are focused on brining
the western two kilometers of Kaukua South to a maiden Resource Estimate and expanding the initial
2019 Kaukua Mineral Resource Estimate. The eastern portion of Kaukua South has returned significant
results in the past, such as hole LK20-017 which returned
1.56 g/t Pd_Eq over 22.2 meters
(0.22 g/t
Pd, 0.05 g/t Pt, 0.09 g/t Au, 0.32% Cu, 0.20% Ni, 119 ppm Co), see
October 22, 2020
. Today's
announcement of hole LK21-087
,
is the furthest step-out hole drilled to the east at Kaukua South which
when combined with the strong IP anomalies indicate a strong potential to add additional resources
along the eastern extension of the Kaukua Trend.
Figure 1.
Historic and current drilling in the Kaukua and Western portion of the Kaukau South area
having a drill data cut off date of September 4, 2021 (hole LK21-128), assays have been received for
holes up to LK21-088, the rest are pending. Background is Induced Polarization ("IP") Chargeability.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6502/98587_ee8e11b3c4bfcad1_001full.jpg
Figure 2.
Kaukua South Long Section. Having a drill data cut off date of September 4, 2021 (hole LK21-
128), assays have been received for holes up to LK21-088, the rest are pending. The long section
covers only the western portion of Kaukua South which the Company is focused on bringing to an initial
NI43-101 resource estimate. The long section is a vertical slice representing only the ~55° south dipping
Lower Zone of Kaukua South. Intercepts are represented in both width (meters) and grade (Pd_Eq*) as
well as gram*meters (grade*width).
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6502/98587_ee8e11b3c4bfcad1_002full.jpg
Figure 3.
Eastern portion of Kaukua South, showing results for holes LK21-083 through 087.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6502/98587_ee8e11b3c4bfcad1_003full.jpg
Table 1.
LK Project Kaukua South Drill Hole Results
Hole
From
(m)
To
(m)
Width
(m)
Pd_Eq
g/t*
Spot
Cu_Eq
g/t**
Spot
Au_Eq
g/t**
Pd
g/t
Pt
g/t
Au
g/t
Cu
%
Ni
%
Co
ppm
LK21-083
Upper Zone
92.0
106.5
14.5
1.11
0.68
1.12
0.19
0.05
0.07
0.12
0.17
108
Lower Zone
191.0
206.5
15.5
0.92
0.56
0.93
0.34
0.12
0.04
0.08
0.09
68
Inc.
191.0
197.0
6.0
1.69
1.04
1.71
0.79
0.26
0.09
0.13
0.11
72
Inc.
191.8
192.7
0.9
3.89
2.39
3.93
1.81
0.65
0.16
0.31
0.28
135
LK21-084
Upper Zone
78.5
98.0
19.5
0.71
0.44
0.72
0.10
0.03
0.04
0.07
0.11
86
Inc.
78.5
87.5
9.0
0.98
0.60
0.98
0.15
0.04
0.06
0.09
0.16
111
Lower
142.5
148.5
6.0
0.80
0.49
0.81
0.18
0.09
0.04
0.09
0.10
75
LK21-085
Upper Zone
114.7
116.1
1.4
2.37
1.49
2.44
0.00
0.00
0.01
0.71
0.29
424
LK21-086
Upper Zone
79.5
99.0
19.5
1.06
0.65
1.07
0.19
0.04
0.07
0.14
0.15
98
Inc
81.0
88.7
7.7
1.43
0.88
1.44
0.29
0.07
0.09
0.16
0.20
128
lower Zone
172.0
176.0
4.0
0.76
0.46
0.76
0.33
0.15
0.02
0.04
0.06
59
LK21-087
Upper Zone
70.0
121.0
51.0
1.02
0.63
1.04
0.16
0.04
0.06
0.13
0.15
103
Inc
78.0
82.5
4.5
1.56
0.97
1.59
0.32
0.05
0.09
0.20
0.22
135
Lower Zone
230.0
248.0
18.0
0.53
0.33
0.54
0.13
0.05
0.02
0.06
0.07
50
Inc.
230.0
232.0
2.0
1.30
0.79
1.30
0.40
0.18
0.04
0.11
0.15
95
LK21-088
Upper Zone
18.9
84.0
65.1
0.58
0.36
0.59
0.09
0.02
0.04
0.07
0.09
69
Inc.
18.9
42.0
23.1
0.73
0.45
0.74
0.11
0.04
0.05
0.07
0.11
86
Lower Zone
119.5
168.0
48.5
2.36
1.45
2.39
1.21
0.41
0.10
0.17
0.14
76
Inc.
122.2
143.5
21.3
3.12
1.92
3.15
1.57
0.51
0.15
0.23
0.19
99
Inc.
142.0
143.5
1.5
5.63
3.46
5.70
3.23
1.06
0.27
0.37
0.24
91
* Pd_Eq calculated using prices from the 2021 NI43-101 Haukiaho Mineral Resource Estimate; $1,600/oz Pd, $1,100/oz Pt, $1,650/oz Au, $3.50
Cu, and $7.50 Ni.
** Spot Au_Eq and Cu_Eq is calculated for comparison only, using recent prices, $1,850/oz Pd, $950/oz Pt, $1750/oz Au, $4.2/lb Cu, and $8.20/lb
Ni, and $24/lb cobalt.
Grey Italicised results are previously released (see press release
October 22, 2
020
).
Palladium Equivalent
Revised price assumptions - The Company is now calculating Palladium equivalent using US$1,600 per
ounce for palladium, US$1,100 per ounce for platinum, US$1,650 per ounce for gold, US$3.50 per
pound for copper, and US$7.50 per pound for nickel consistent with the calculation used in the
Company's September 2021 NI 43-101 Haukiaho Resource Estimate.
Spot Gold Equivalent
Spot palladium and gold equivalents are calculated using recent spot prices for comparison purposes
using US$1,850 per ounce for palladium, US$950 per ounce for platinum, US$1,750 per ounce for gold,
US$4.2 per pound for copper, and US$8.2 per pound for nickel.
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. is an exploration company targeting district scale, platinum-group-element
(PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or
LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland,
ranked by the Fraser Institute as one of the world's top countries for mineral exploration and
development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of
favorable basal contact and building on an established NI 43-101 open pit Mineral Resource.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact: Derrick Weyrauch, President & CEO
Email:
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This press release includes "forward-looking information" that is subject to a few assumptions, risks
and uncertainties, many of which are beyond the control of the Company. Statements regarding listing
of the Company's common shares on the TSXV are subject to all of the risks and uncertainties
normally incident to such events. Investors are cautioned that any such statements are not
guarantees of future events and that actual events or developments may differ materially from those
projected in the forward-looking statements. Such forward-looking statements represent
management's best judgment based on information currently available. Factors that could cause the
actual results to differ materially from those in forward-looking statements include regulatory actions
and general business conditions. Such forward-looking information reflects the Company's views with
respect to future events and is subject to risks, uncertainties and assumptions, including those set out
in the Company's annual information form dated April 27, 2021 and filed under the Company's profile
on SEDAR at
www.sedar.com
. The Company does not undertake to update forward-looking
statements or forward-looking information, except as required by law. Investors are cautioned that any
such statements are not guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/98587