Palladium One Drilling Confirms Multiple Chonolith-Feeder Dyke Structures and Discovers new Ni Mineralization at Tyko Ni - Cu Project
Palladium One Drilling Confirms Multiple
Chonolith-Feeder Dyke Structures and
Discovers new Ni Mineralization at Tyko Ni -
Cu Project
Toronto, Ontario--(Newsfile Corp. - February 1, 2024) -
Palladium One Mining Inc.
(
TSXV: PDM
)
(
OTCQB: NKORF
) (
FSE: 7N11
) (the "
Company
" or "
Palladium One
") is pleased to announce initial
results from the 2023 drill program on the Tyko I Property, which forms part of the larger Tyko Nickel-
Copper Project in Ontario, Canada.
Highlights
New areas of nickel mineralization and new Chonolith / Feeder Dyke structures have been
discovered.
In the West Pickle Area, Chonolith / Feeder Dyke structures now extend over more than five
kilometers of strike length (Figure 1).
A new nickel zone has been identified with intercepts returning up to 0.4% Ni and 0.2% Cu over
2.7 meters including
1.0% Ni and 0.4% Cu over 0.9 meters
in hole TK23-128 in an area with soil
anomalies as high as 0.15% Ni, 0.27% Cu and 86 parts per billion ("ppb") Pd + Pt (Figure 2).
Drilling along the eastern margin of the West Pickle Zone targeted bore hole electromagnetic
anomalies ("BHEM") returned
1.8% Ni and 1.0% Cu over 1.5 meters
in hole TK23-134.
3D modelling of the West Pickle Zone geology following a Magneto Telluric ("MT") survey suggest
the zone continues at least 500 meters further northeast, where it intersected magnetic and soil
anomalies associated with a newly confirmed ultramafic Chonolith / Feeder Dyke structure (Figure
3).
In Q4 2023, 3,023 meters were drilled in 22 diamond drill holes on the Tyko projects, 12 holes
drilled on the Tyko I property are detailed in this release.
"Tyko's new nickel district geologic model continues to be confirmed with the 2023 drilling program. The
discovery of an additional zone of high-grade nickel mineralization (hole TK23-128) at shallow depth is
highly encouraging. Notably the MT anomaly extending east of the West Pickle Zone remains to be
tested along with other priority targets, while additional exploration permits will be required in advance of
drilling," stated Derrick Weyrauch, President and CEO.
The 2023 drill program comprised 22 holes totalling 3,023 meters on both the Tyko I and Tyko II
properties. The program included 12 holes targeting the West Pickle area of Tyko I which form this
release. Drilling in the West Pickle area was designed to be shallow and to test for near surface
mineralization proximal to soil anomalies previously reported. Deeper drill testing of the Magneto Telluric
("MT) geophysical anomaly (see news release
October 30, 2023
) that could connect West Pickle to the
RJ Zone (four to five kilometers to the east), and the Gionet Zone on Tyko II (see news release
November 21, 2023
) will require additional exploration permits.
The result of the drill program successfully intersected significant ultramafic rocks confirming the
Chonolith / Feeder Dyke model. Two new large areas of ultramafic rocks were outlined confirming
previous soil and geophysical anomalies.
However, the amount of sulphide Ni-Cu mineralization
intersected in drilling is less than suggested by nearby soil anomalies, indicating that additional
mineralization exist and additional drilling is warranted. Future exploration plans include trenching,
mapping and channel sampling to better understand the controls on this new mineralization followed by
drill testing.
The most significant result of the program was a new area of high-grade Ni-Cu mineralization
intersected 1 kilometer northwest of the West Pickle Zone, in an area with significant Ni-Cu-PGE soil
anomalies having up to 0.15% Ni, 0.27% Cu and 69 ppb Pd and 17 ppb Pt in soils (Figure 1 and 2).
These anomalies were offset from the magnetic high suggesting more extensive non-magnetic
ultramafic rocks in the area. Hole TK23-128 intersected sheared Ni-Cu sulphide mineralization in altered
pyroxenitic rocks returning 0.4% Ni and 0.2% Cu over 2.7 meters including
1.0% Ni and 0.4% Cu over
0.9 meters
(Figure 1 and 2).
Two holes tested Maxwell plates modelled form Borehole Electromagnetic ("BHEM") surveys on the
West Pickle Zone (Figure 1 and 2). Hole TK22-133 did not intersect any mineralization or ultramafic
rocks, the source of the Maxwell plate remains unexplained. Hole TK23-134 intersected the modelled
Maxwell plate returning
1.8% Ni and 1.0% Cu over 1.5 meters
. The West Pickle Zone horizon remains
open to both the east and west.
Figure 1.
West Pickle Area plan map and long section showing confirmed and interpreted Chonoliths /
Feeder Dykes. 2023 drill holes are in red, previous drill holes in black with hose >1% Ni in yellow.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/196438_14346981d42f39d4_001full.jpg
Figure 2.
Copper soil anomalies in the West Pickle area showing: 2023 drill holes (red circles), trace of
the Chonoliths / Feeder Dykes, previous drill holes (black circles), soil samples (grey circles),
background is high resolution airborne magnetics (total field).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/196438_14346981d42f39d4_002full.jpg
Figure 3.
Nickle soil anomalies in the West Pickle area showing: 2023 drill holes (red circles), trace of
the Chonoliths / Feeder Dykes, previous drill holes (black circles), soil samples (grey circles),
background is a 250m depth plan map showing 3D resistivity inversion results from the 2023 MT survey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/196438_14346981d42f39d4_003full.jpg
About Tyko Nickel - Copper - Cobalt Project
The Tyko Nickel - Copper - 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 and with
multiple mineralized zones spanning over a 20-kilometer strike length and demonstrating the potential for
a new greenfield nickel district.
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
Critical Green Transportation Metals
. A Canadian mineral exploration and development
company, Palladium One is targeting district scale, nickel - copper sulphide and platinum-group-element
(PGE) 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:
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 is not an offer or a solicitation of an offer of securities for sale in the United States
of America. The common shares of Palladium One Mining Inc. have not been and will not be
registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
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circumstances should change. Investors are cautioned against attributing undue certainty to forward-
looking statements
Appendix A
Table 1:
Assay Results: Tyko 2023 Drill Results from the West Pickle Area of Tyko I Property
Hole
Rock Type
From
(m)
To
(m)
Width
(m)
Ni
%
Cu
%
Co
%
TPM g/t
(Pd+Pt+Au)
Pd
g/t
Pt
g/t
Au
g/t
TK23-123
Tonalite
No Significant Mineralization
TK23-124
Ultramafic
27.0
31.6
4.6
0.10
0.01
0.01
0.04
0.02
0.02
0.00
TK23-125
Ultramafic
17.0
27.0
10.0
0.10
0.02
0.01
0.00
0.00
0.00
0.00
38.7
46.0
7.3
0.10
0.01
0.01
0.03
0.01
0.01
0.00
134.6
142.0
7.4
0.12
0.01
0.01
0.03
0.01
0.02
0.00
TK23-126
Ultramafic
11.3
13.0
1.7
0.10
0.02
0.01
0.00
0.00
0.00
0.00
TK23-127
Ultramafic
34.1
53.0
18.9
0.11
0.02
0.01
0.03
0.01
0.02
0.00
TK23-128
Ultramafic
13.7
16.4
2.7
0.43
0.17
0.01
0.12
0.05
0.06
0.00
13.7
14.6
0.9
1.05
0.43
0.02
0.29
0.13
0.15
0.01
TK23-129
Ultramafic
28.0
31.5
3.5
0.13
0.04
0.01
0.01
0.00
0.01
0.00
TK23-130
Tonalite
No Significant Mineralization
TK23-131
Ultramafic
18.0
41.0
23.0
0.11
0.03
0.01
0.01
0.00
0.01
0.00
TK23-132
Ultramafic
7.4
77.5
70.1
0.10
0.01
0.01
0.04
0.02
0.02
0.00
TK23-133
Tonalite
No Significant Mineralization
TK23-134
Ultramafic
108.8
110.3
1.5
1.80
0.96
0.04
0.44
0.32
0.10
0.02
109.5
110.3
0.8
2.64
1.35
0.05
0.45
0.30
0.13
0.01
(1)
Reported widths are "drilled widths" not true widths.
Table 2:
Drill Hole Locations for assay results from this News Release
Hole
Azimuth
Dip
Length
NAD83 z16 East
NAD83 z16 North
Elevation
TK23-123
125.3
-45
159.0
599360.0
5421973.0
344.0
TK23-124
177.4
-45
153.0
602914.7
5421732.0
349.5
TK23-125
179.4
-45
150.0
602910.4
5421871.0
350.7
TK23-126
180.0
-45
30.5
603007.0
5421867.0
346.0
TK23-127
180.0
-45
81.4
600785.9
5422590.0
368.6
TK23-128
179.1
-50
171.0
600788.8
5422471.0
361.4
TK23-129
129.4
-45
150.0
599548.5
5421606.0
332.4
TK23-130
181.6
-45
126.0
600830.0
5422506.0
364.6
TK23-131
179.9
-45
102.5
600732.1
5422499.0
363.5
TK23-132
179.8
-45
120.0
600671.1
5422524.0
366.2
TK23-133
170.1
-45
150.0
601767.3
5421957.0
348.2
TK23-134
144.0
-58
147.0
601998.4
5421971.0
345.8
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/196438