Palladium One Discovers 600 m Mineralized Strike Length at Murtolampi, Discoveries Now Total 4.6 km of Strike Length in Greater Kaukua Area
Palladium One Discovers 600 m Mineralized
Strike Length at Murtolampi, Discoveries Now
Total 4.6 km of Strike Length in Greater
Kaukua Area
Vancouver, British Columbia--(Newsfile Corp. - October 20, 2020) - Additional visual results from core
logging of the resumed Phase I drill program at the LK Project in Finland have retuned wide zones of
magmatic sulfide mineralization at Murtolampi, located less than 2 kilometers north of the Kaukua
Deposit, said Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTC Pink: NKORF) ("Palladium
One" or the "Company") today.
Key highlights
New discovery suggests magmatic sulfide
mineralization extends over greater than a 600 m
strike length.
Targeting induced polarization (IP) chargeability anomalies continues to result in PGE-Cu-Ni
mineralization discoveries.
Three drill holes tested the Murtolampi Zone, two of which intersected magmatic sulfide
mineralization ranging from 40 m to 70 m in length
(drilled core length).
The Murtolampi zone could rapidly add near surface tonnes
to existing NI 43-101 resources.
"
We are excited to report this second discovery. Initial results from Murtolampi indicate that it could
form a significant satellite open pit resource, adding to the Kaukua deposit, which is located less than
2 kilometers to the south,
" said Derrick Weyrauch, President and Chief Executive Officer.
Summary:
Drilling has extended magmatic sulfide mineralization in Murtolampi over
600 m southwest of
hole LK20-012
which returned
20.2 m at 2.26 g/t
palladium equivalent (Pd_Eq)*, within
87.2 m @
1.43 g/t Pd_Eq
(see
news release dated August 25, 2020
) (Figure 1).
Surface sampling at Murtolampi, previously returned
4.9 g/t Pd_Eq
, including 3.11 g/t PGE (see
news release August 12, 2019
).
Disseminated to blebby magmatic sulfides, averaging 1-2% but locally up to 10%, consisting of
chalcopyrite and pyrrhotite occur within
intercepts ranging from 40 m to 70 m
(drilled core
length).
Sulfide mineralization occurs in peridotite and is similar to hole LK20-012 and historic GTK
(Geological Survey of Finland) drill holes.
Murtolampi has many similarities to the Kaukua deposit, notably high tenor PGE mineralization.
Phase 1 Drill Program Update
The Company has completed logging and sampling the drill core from the recently completed drilling
program. Fourteen holes totalling 2,566 m were completed during the resumed program in August and
September, bringing the total Phase I exploration drilling program to 26 holes totalling 4,490 m.
Additional assay results are expected within the next few weeks.
* Palladium equivalent
Palladium equivalent is calculated using 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 for copper, and US$15,4332 per tonne for
nickel. This calculation is consistent with the calculation in the Company's September 2019 NI 43-101
Kaukua resource estimate.
New video on the LK Project, located in Finland
A new two-minute video introduction has been added to the Company's
website
. The video is a quick
introduction to Palladium One Mining, and outlines where the Company is targeting large-scale platinum-
group-element (PGE)-copper-nickel deposits in Finland.
This video covers:
• location, infrastructure, and land tenure
• IP chargeability anomalies
• exploration drilling and resource potential in the Kaukua South/East zone of the LK Project.
Cannot view this video?
Visit:
https://www.palladiumoneinc.com/
Figure 1:
This figure shows the greater Kaukua Area, the NI 43-101 compliant Kaukua Open Pit
resource, Murtolampi and Kaukua South zones. The resumed Phase I drill holes are labelled in red.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6502/66355_94f6af6ff41458b1_004full.jpg
Figure 2:
Murtolampi disseminated to blebby chalcopyrite-rich magmatic sulfide from holes LK20-024
(A) and LK20-026 (B) located 600 m apart.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6502/66355_94f6af6ff41458b1_005full.jpg
Figure 3:
Murtolampi Long section looking northwest, showing IP Chargeability isoshells, mineralized
peridotite and down hole logged sulfide percentages, resumed Phase I drill holes labelled in red.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6502/66355_94f6af6ff41458b1_006full.jpg
QA/QC
The Phase I drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo.,
Vice President of Exploration and a director of the Company.
Drill core samples were split using a rock saw by Company staff, with half retained in the core box and
stored indoors in a secure facility, in Taivalkoski, Finland. The drill core samples were transported by
courier from the Company's core handling facility in Taivalkoski, Finland, to ALS Global ("ALS")
laboratory in Outokumpu, Finland.
ALS is an accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). PGE analysis
was performed using a 30 grams fire assay with an ICP-MS or ICP-AES finish. Multi-element analyses,
including copper and nickel were analyzed by four acid digestion using 0.25 grams with an ICP-AES
finish.
Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one
QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All
standards associated with the results in this press release were determined to be acceptable within the
defined limits of the standard used.
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-
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 resource.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email:
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