Palladium One Identifies Large Chargeability Anomaly at Murtolampi Zone, at LK PGE-Ni-Cu Project in Finland
Palladium One Identifies Large Chargeability Anomaly at
Murtolampi Zone, at LK PGE-Ni-Cu Project in Finland
Vancouver, British Columbia--(Newsfile Corp. - March 10, 2020) -
Palladium One Mining Inc.
(
TSXV: PDM) (FSE: 7N11)
(OTC: NKORF
) (the "
Company
" or "
Palladium One
") reports that the second 2020 Induced Polarization (IP) survey grid,
located at Murtolampi, two kilometres northeast of the Kaukua deposit, has successfully outlined a significant untested
chargeability anomaly.
Substantially more extensive PGE-Cu-Ni mineralization is suggested at Murtolampi than was identified in the 1990's by the
Finnish Geological Survey (GTK) (
Figure 1, 2 and 3
).
As illustrated in
Figure 1
, shallow (40m deep) historic diamond drilling by
GTK, which ended in mineralization, did not intersect the most conductive portion of newly discovered anomaly.
The core of the Murtolampi chargeability anomaly extends over more than 750m of strike length, with a width ranging from 100 to
300m. and extends down to the maximum depth of the IP survey, being 300m.
The six shallow GTK drill holes, conducted in the
1990's, all intersected mineralization, but only tested the very outer edge of the newly discovered chargeability anomaly.
Prospecting by the Company in 2019 near these GTK holes produced
3.11g/t PGE
(1.86g/t Pd, 1.11 g/t Pt, 0.14 g/t Au), 0.78%
Cu, 0.13% Ni on surface (see press release August 12
th
2019). The shallow drilling by GTK ended in mineralization with values
up to
30.15m 0.86g/t PGE
(0.52/t Pd, 0.28g/t Pt, 0.06g/t Au), 0.17% Cu, 0.10% Ni in hole R369. Until now, these historical
results have not been followed up.
Figure 1.
Cross Section looking west of the northern part of the Murtolampi chargeability anomaly.
To view an enhanced version of this graphic, please visit:
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"In addition to the Kaukua South anomaly that was discovered last month, our second 2020 IP survey grid has outlined
another significant chargeability anomaly, this time at Murtolampi.
Outlining two large chargeability anomalies extending
outward from known PGE-Cu-Ni mineralization in our first two of five surveys, highlights the potential to significantly increase
our existing NI 43-101 resources and the overall mineral endowment at our palladium dominant LK PGE-nickel-copper
project in Finland.
Our 2020 drill program is well underway, we are nearing completion of planned drilling at Kaukua and plan to relocate the drill
rig to Haukiaho shortly.
Testing of the newly discovered chargeability anomaly at Murtolampi is planned to commence
thereafter,"
commented Derrick Weyrauch, President and CEO.
Figure 2.
Plan view of the Murtolampi IP survey showing shallow historic GTK drill holes.
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Figure 3.
Long Section view, looking southwest of the Murtolampi Chargeability Anomaly.
To view an enhanced version of this graphic, please visit:
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The Murtolampi grid consists of 9 grid lines totalling approximately 6-line kms of IP.
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 a palladium dominant, 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.
The Kaukua deposit of the LK project hosts
635,600 Pd_Eq ounces
of Indicated
Resources grading
1.80 g/t Pd_Eq*
("palladium equivalent") contained in 11 million tonnes (@ 0.81g/t Pd, 0.27g/t Pt, 0.09g/t Au, (1.17g/t PGE), 0.15% Cu &
0.09% Ni), and
525,800 Pd_Eq ounces of Inferred
Resources grading
1.50 g/t Pd_Eq
contained in 11 million tonnes (@
0.64g/t Pd, 0.20g/t Pt, 0.08g/t Au (0.92g/t PGE), 0.13% Cu, & 0.08% Ni), (see press release September 9, 2019). Kaukua is
open for expansion, while the Kaukua South, Murtolampi and Haukiaho mineralized zones require systematic exploration via
diamond drilling to follow up mineralized drill intercepts.
*Pd_Eq is calculated using the following metal prices (in USD) of $1,100/oz for Pd, $950/oz for Pt, $1,300/oz for Au, $6,614/t
for Cu and $15,432/t for Ni.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email:
Phone:
1-778-327-5799
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 United States absent registration or an applicable exemption from
registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are
statements that relate to future, not past events. In this context, forward-looking statements often address a company's
expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or
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uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to
be materially different from any future results, performance or achievements expressed or implied by such forward-looking
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operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title
matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition;
dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements
are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and
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statements.
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