Palladium One Expands High-Grade at Kaukua
Palladium One Expands High-Grade at Kaukua
South, Drills 47 Meters @ 2.6 g/t Pd_Eq,
Including 12 Meters @ 4.2 g/t Pd_Eq
Toronto, Ontario--(Newsfile Corp. - March 18, 2021) - Drilling has returned significant PGE (Platinum
Group Element) grades of
47 meters at 2.6 g/t Pd_Eq
, including
12 meters at 4.2 g/t Pd_Eq
. (Hole
LK21-045), defining a high-grade core at Kaukua South on the Läntinen Koillismaa ("LK") PGE-Ni-Cu
project in Finland, said Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF)
("Palladium One" or the "Company") today.
Thus far, 34 holes have been drilled as part of the 17,500-meter Phase II Resource Definition drill
program at Kaukua South, including today's results 22 have been released, while results for 12 holes are
pending.
Drilling has been strategically undertaken to define mineralization from surface to a depth of
200 metres, leaving mineralization open at depth, across the known 4-kilometer strike length of Kaukua
South.
In total 6,404-meters have been drilled to date as part of the Phase II program at Kaukua South,
while an additional 860-meters (6 holes) of regional exploration has been undertaken.
Derrick Weyrauch, President and CEO of Palladium One said, "Drilling at Kaukua South continues to
intersect impressive grades and widths, thereby proving up the known four-kilometer strike length of
Kaukua South. Induced Polarization (IP) surveys have been started to expand the Kaukua South strike
length by up to three kilometers. With robust drill results thus far and the potential to increase the Kaukua
South strike length to
seven kilometers
we are optimistic that, in addition to our existing Kaukua
National Instrument 43-101 pit constrained resource, a new multi-million ounce resource is well within our
reach."
"In addition to our Phase II Kaukua South drill program and to take advantage of winter drilling
conditions, 2,000 meters (12 holes) were recently drilled on the Haukiaho zone. This drilling represents
completion of the infill campaign that was launched in February 2020 and suspended in March 2020 due
to Covid-19.
The drill program was designed to provide additional data in advance of a NI 43-101
resource estimate.
Assay results are pending," said Weyrauch.
Highlights
Drilling continues to demonstrate continuity of near surface open pit grades and widths
at Kaukua South.
Core zone of
11.6 meters grading 4.21 g/t Palladium equivalent
("Pd_Eq") within
47.4 meters
grading 2.59 g/t Pd_Eq.
in hole LK21-045, starting 123 meters down hole.
Core zone of
16.5 meters grading 2.52 g/t Pd_Eq,
within
52.7 meters grading 1.53 g/t Pd_Eq
in hole LK21-046, starting 66 meters down hole.
2,000 meters of drilling completed on the Haukiaho Zone to upgrade the historic resource to
National Instrument 43-101 standards.
Kaukua South Infill Drilling
Kaukua South infill drilling continues to demonstrate consistent near surface open pit grades and widths.
A total of 22 holes from the Phase II infill drill program on Kaukua South have now been released with
intersections such as
53 meters at 2.1 g/t Pd_Eq,
in hole LK20-028 (see press release
January 18,
2021
) and
33 metres grading 2.0 g/t Pd_Eq
in hole LK20-034 (see news release
March 11, 2021
).
These 22 holes cover approximately 1.3 kilometers of the Kaukua South Zone and have returned similar
widths and grades to those in the Kaukua NI 43-101 Open Pit resource estimate. (Figure 1 and 2).
IP Survey Underway
Induced Polarization ("IP") surveys have proven to be highly successful at outlining palladium-rich
disseminated copper-nickel sulphide mineralization on the LK Project. The discovery of Kaukua South in
an overburden covered area with no previous drilling was a direct result of the Company's 2020 IP
survey.
The current IP survey is well advanced, with the western grid anticipated to be completed within the next
week. The Company believes there is potential to extend the currently Kaukua South IP chargeability
anomaly from the currently defined four to over seven kilometres of strike length (Figure 1).
Figure 1.
Greater Kaukua area plan map, showing
current NI 43-101 Kaukua Deposit conceptual pit
outline (dashed yellow), Kaukua South and Murtolampi IP chargeability anomalies, and Palladium One
drill hole locations. Holes labels in red form part of this release.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6502/77689_d2649b15542ec8be_001full.jpg
Figure 2.
Kaukua South long-section looking north, holes labelled in red form part of this release.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6502/77689_d2649b15542ec8be_002full.jpg
Figure 3.
Cross Section showing Kaukua South infill holes LK20-027, 028, 045, looking west.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6502/77689_d2649b15542ec8be_003full.jpg
Haukiaho Drill Program
The Haukiaho Zone is located 15 kilometers to the South of Kaukua. In late February and early March
2021, the Company completed 2,000 meters (12 holes) of infill drilling to enable the historic Haukiaho
resource to be upgraded to NI 43-101 compliant standards. The Haukiaho Zone which hosts the historic
Haukiaho deposit, is part of a 17-kilometre-long trend (Figure 4.), and prior to the discovery of the
Kaukua South Zone had a top priority for the Company and it remains a significant asset of the greater
LK project.
In March 2020, before being forced to shut down due to the first wave of the Covid-19 pandemic, the
Company completed 3 holes on the Haukiaho Zone returning a core zone of
34.2 metres grading 2.09
g/t Pd_Eq. within 83.3 metres grading 1.27 g/t Pd_Eq
. in hole LK20-010 (see news release
September 15, 2020
).
In February 2020, the Company completed an IP survey covering five-kilometres of the Haukiaho Trend
(see news release
May 7, 2020
). This survey identified three strong chargeability anomalies, one of
which is associated with the core of the historic Haukiaho deposit, however the other two are in areas of
sparse historic drilling. The eastern most of these three anomalies was
prospected by the Company
in 2019, returning up to
3.3 g/t Pd_Eq.
(0.51% Cu, 0.33% Ni, 0.56 g/t Pd, 0.18 g/t Pt, and 0.21 g/t
Au), (see news release
August 12, 2019
).
Historic Haukiaho Resource Estimates
In 2013, Finore Mining Inc. completed a non-pit constrained NI 43-101 historic resource with a 0.1 g/t Pd
cut-off at Haukiaho comprising 23.2 million tonnes grading 1.51 g/t Pd_Eq (0.31 g/t Pd, 0.12g/t Pt, 0.10
g/t Au, 0.21% Cu, and 0.14% Ni) (See news release
August 12, 2019
and
May 7, 2020
).
This resource
encompassed widely spaced drilling with a focus on maximizing tonnage, not grade. An earlier historic
resource estimate completed by Outokumpu in the 1980's covered a much larger part of the Haukiaho
trend and was focused more on grade and used a 0.7% Cu_eq cut-off (defined as Cu% + 2 x Ni%) and
returned 7 million tonnes grading 0.38% Cu and 0.24% Ni, however importantly, no PGE assays were
conducted.
Figure 4.
LK Project location map showing 43-101 compliant Kaukua deposit and historic Haukiaho
resource along with 2020 IP grids (blue lines) and current 2021 IP grid areas (black boxes). Yellow lines
represent Exploration Permits, red lines represent Exploration Reservations held by the Company.
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/6502/77689_d2649b15542ec8be_004full.jpg
Figure 5.
Haukiaho IP chargeability and 2020 DDH location map.
To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/6502/77689_d2649b15542ec8be_005full.jpg
Table 1:
Phase II infill drill results to date on Kaukua South
Zone
Hole
From
(m)
To
(m)
Width
(m)
Pd_Eq
g/t*
PGE g/t
(Pd+Pt+Au)
Pd
g/t
Pt
g/t
Au
g/t
Cu
%
Ni
%
Kaukua
South
LK20-027
103.4
155.0
51.6
1.98
1.07
0.72
0.27
0.08
0.17
0.15
Inc.
105.6
113.0
7.4
2.58
1.34
0.90
0.31
0.13
0.26
0.18
And
149.5
155.0
5.5
3.12
1.96
1.34
0.52
0.10
0.27
0.17
Inc.
153.5
155.0
1.5
6.14
4.09
2.79
1.15
0.15
0.56
0.28
Kaukua
South
LK20-028
42.6
95.5
52.9
2.06
1.44
1.00
0.36
0.08
0.11
0.11
Inc.
46.9
72.0
25.1
2.92
2.08
1.44
0.52
0.12
0.17
0.14
Inc.
50.5
60.0
9.5
3.56
2.52
1.75
0.61
0.16
0.23
0.16
Kaukua
South
LK20-029
37.5
62.9
25.4
2.57
1.87
1.30
0.46
0.11
0.15
0.11
Inc.
47.0
62.0
15.0
3.16
2.36
1.65
0.58
0.13
0.17
0.13
Inc.
56.5
62.0
5.5
4.34
3.36
2.36
0.82
0.18
0.20
0.16
Inc
56.5
57.7
1.2
6.15
4.97
3.54
1.26
0.17
0.25
0.21
Kaukua
South
LK20-030
26.4
86.5
60.1
1.88
1.00
0.68
0.24
0.07
0.17
0.14
Inc.
47.0
68.0
21.0
2.44
1.43
0.98
0.35
0.10
0.21
0.16
Inc.
53.0
54.5
1.5
3.94
2.69
1.78
0.78
0.12
0.28
0.20
Kaukua
South
LK20-031
17.9
61.5
43.6
1.94
1.12
0.76
0.27
0.09
0.16
0.13
Inc.
17.9
55.5
37.6
2.17
1.25
0.85
0.30
0.10
0.19
0.14
Inc.
24.5
35.0
10.5
2.81
1.60
1.09
0.39
0.11
0.27
0.18
Kaukua
South
LK20-032
60.3
108.3
48.0
1.81
0.84
0.57
0.21
0.06
0.16
0.16
Inc.
61.4
75.0
13.7
2.12
0.90
0.58
0.23
0.09
0.22
0.20
Kaukua
South
LK20-033
41.3
85.0
43.7
1.76
0.87
0.58
0.21
0.07
0.18
0.14
Inc.
42.7
56.3
13.7
2.33
1.21
0.83
0.28
0.10
0.21
0.18
Kaukua
South
LK20-034
86.9
119.5
32.7
2.05
1.16
0.81
0.26
0.09
0.16
0.15
Inc.
88.5
112.5
24.0
2.26
1.32
0.93
0.29
0.10
0.17
0.15
Inc.
88.5
97.5
9.0
3.06
1.98
1.41
0.45
0.12
0.20
0.17
Inc.
94.5
96.0
1.5
4.20
2.94
2.15
0.66
0.14
0.25
0.20
Kaukua
South
LK20-035
66.0
118.0
52.0
1.32
0.63
0.44
0.15
0.04
0.11
0.11
Inc
67.5
69.0
1.5
3.49
2.44
2.10
0.27
0.07
0.23
0.15
And
95.5
104.7
9.2
2.04
1.23
0.80
0.32
0.11
0.17
0.13
Kaukua
South
LK20-036
245.3
280.0
34.6
1.05
0.39
0.25
0.11
0.03
0.10
0.11
Inc.
259.0
260.5
1.5
1.72
0.86
0.62
0.16
0.07
0.15
0.14
Kaukua
South
LK20-042
115.5
158.9
43.4
1.41
0.77
0.53
0.19
0.05
0.09
0.12
Inc.
118.5
123.0
4.5
2.29
1.23
0.82
0.32
0.09
0.14
0.19
Kaukua
South
LK20-043
131.5
162.3
30.8
1.24
0.55
0.36
0.15
0.04
0.11
0.12
Inc.
133.0
136.0
3.0
2.05
1.16
0.82
0.32
0.02
0.05
0.20
Kaukua
South
LK20-044
156.8
173.8
17.0
1.38
0.62
0.41
0.14
0.06
0.14
0.12
Inc.
166.0
169.5
3.4
2.10
1.07
0.73
0.25
0.08
0.20
0.16
Kaukua
South
LK20-045
122.8
170.2
47.4
2.59
1.74
1.20
0.42
0.11
0.17
0.14
Inc.
152.0
170.2
18.2
3.64
2.55
1.77
0.62
0.15
0.23
0.17
Inc.
155.0
166.6
11.6
4.21
2.92
2.03
0.72
0.18
0.27
0.20
Inc.
156.0
160.6
4.6
5.09
3.67
2.57
0.89
0.21
0.33
0.21
Inc.
156.0
157.5
1.5
7.18
5.18
3.67
1.23
0.28
0.44
0.31
Kaukua
South
LK20-046
65.9
118.6
52.7
1.53
1.05
0.73
0.26
0.06
0.09
0.08
Inc.
73.0
89.5
16.5
2.52
1.79
1.23
0.44
0.12
0.13
0.13
Inc.
73.0
79.0
6.0
3.31
2.42
1.69
0.60
0.12
0.18
0.15
Zone
Hole
From
(m)
To
(m)
Width
(m)
Pd_Eq
g/t*
PGE g/t
(Pd+Pt+Au)
Pd
g/t
Pt
g/t
Au
g/t
Cu
%
Ni
%
Kaukua
South
LK20-047
36.0
58.0
22.0
1.77
1.11
0.75
0.29
0.07
0.12
0.11
Inc.
40.5
43.5
3.0
3.15
1.85
1.23
0.49
0.13
0.27
0.20
And
53.5
56.0
2.5
2.89
2.25
1.61
0.54
0.09
0.12
0.11
Kaukua
South
LK20-048
80.0
93.0
13.0
1.08
0.55
0.35
0.15
0.05
0.09
0.09
Inc.
89.0
91.3
2.3
1.91
1.13
0.73
0.31
0.09
0.18
0.12
Kaukua
South
LK20-049
16.2
27.0
10.8
1.18
0.52
0.33
0.13
0.06
0.13
0.10
Inc.
23.5
27.0
3.5
1.53
0.87
0.57
0.21
0.09
0.16
0.09
Kaukua
Recon
LK20-050
no significant values
Kaukua
South
LK21-051
118.8
145.0
26.2
1.46
0.55
0.36
0.13
0.06
0.16
0.15
Inc.
133.2
145.0
11.8
1.87
0.77
0.49
0.18
0.10
0.21
0.17
Kaukua
South
LK21-052
53.0
62.7
9.7
1.04
0.36
0.22
0.10
0.04
0.09
0.12
Inc.
54.5
57.0
2.5
1.75
0.75
0.48
0.22
0.06
0.12
0.19
Zone
147.5
172.0
24.5
1.67
0.79
0.55
0.17
0.07
0.18
0.13
Inc.
147.5
152.0
4.5
2.17
0.91
0.65
0.20
0.06
0.38
0.14
Inc.
147.5
148.0
0.5
6.44
1.03
0.79
0.20
0.05
2.45
0.24
And
164.0
165.5
1.5
3.35
2.31
1.70
0.49
0.12
0.21
0.16
Kaukua
South
LK21-053
60.0
63.0
3.0
1.20
0.51
0.33
0.13
0.06
0.11
0.11
Zone
93.9
101.4
7.5
0.77
0.25
0.15
0.07
0.03
0.05
0.10
Zone
Hole
From
(m)
To
(m)
Width
(m)
Pd_Eq
g/t*
PGE g/t
(Pd+Pt+Au)
Pd
g/t
Pt
g/t
Au
g/t
Cu
%
Ni
%
* Reported widths are "drilled widths" not true widths.
** Orange shaded values previously released (see press release
January 18, 2021
and
March 11, 2021)
.
*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.
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 analysed 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
(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 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 29, 2020 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/77689