Palladium One Intersects Widest Intercept to Date Southwest of the Kaukua Open Pit Resource
Palladium One Intersects Widest Intercept to
Date Southwest of the Kaukua Open Pit
Resource Estimate, Finland, 1.6 g/t Pd_Eq over
121 Meters
Highlights
Widest ore grade intercept to date, intersected 250 meters southwest and down plunge of
the current Kaukua Open Pit Mineral Resource Estimate ("MRE").
2.1 g/t Palladium Equivalent (Pd_Eq) over 33.5 meters, within 1.6 g/t Pd_Eq over 121.1
meters
, in hole LK21-105,
with individual samples grading up to
16.0 g/t Pd_Eq
over 0.6 meters.
Three holes
(LK21-101, 102 and 105),
spread over 220-meters laterally, have all intersected
the down plunge, high-grade 'Core Zone' of the current pit constrained Kaukua Open Pit.
High-grade 'Core Zone' of the Kaukua Open Pit remains open to depth.
Toronto, Ontario--(Newsfile Corp. - January 11, 2022) - Initial down plunge drilling, has intersected the
widest ore-grade intercept to date, southwest of the 2019 open-pit constrained MRE of the Kaukua
Deposit. Hole LK21-105 intersected
2.1 g/t Pd_Eq over 33.5 meters, within 1.6 g/t Pd_Eq over
121.1 meters
, starting at a true depth of approximately 260 meters (Figure 2), said
Palladium One
Mining Inc.
(TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) ("Palladium One" or the "Company").
Derrick Weyrauch, President and CEO, commented: "We have extended the 'Core Zone' of the Kaukua
Deposit
250 beyond the current conceptual open-pit
and hole LK21-105 is among the
thickest
intercepts to date
within the Kaukua Deposit and
adds significant tonnage
to our existing resource
endowment. The high-grade 'Core Zone' of the Kaukua Deposit remains open to the southwest for more
expansion. An updated NI43-101 Mineral Resource Estimate is schedule for release in Q1 2022 and will
incorporate these valuable results"
These drilling results extend a broad, >200-meter wide 'core zone' of mineralization 250-meters
southwest of the existing conceptual open-pit, and it remains open for expansion (Figure 1 and 2, and 3).
Importantly, the previous geological interpretations suggested that the Kaukua Deposit was cut-off by a
northwest trending fault, occupying a distinct magnetic low and topographic lineament. Drilling has now
demonstrated that the magnetic low is the result of a later cross cutting dyke (now referred to as the high-
titanium gabbro dyke) and that the
Kaukua Deposit remains open to the south
. Significantly the high-
grade 'Core Zone' of the Kaukua Deposit has been extended 250 meters to the southwest and we have
encountered some of the thickest intercepts (>100m) to date within the deposit (see news release
November 23, 2021
).
Figure 1.
Historic and current drilling in the Kaukua area having a drill data cut-off date of September
30, 2021 (hole LK21-137), assays have been received for holes up to LK21-108, the remainder are
pending. Background is Induced Polarization ("IP") Chargeability.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6502/109611_d3d01541e4fbb877_001full.jpg
Figure 2.
Cross sections showing holes LK21-099, 103, 104, 105 and 106 and historic holes KAU09-
049 and KAU12-060, and their position with respect to the 2019 Kaukua Mineral Resource Estimate
Whittle Open Pit.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6502/109611_d3d01541e4fbb877_002full.jpg
Figure 3.
Cross section showing holes LK21-100, 108, historic holes KAU09--040, 042, 043, KAU12-
053 and their position with respect to the 2019 Kaukua Whittle Open-Pit constrained Mineral Resource
Estimate.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6502/109611_d3d01541e4fbb877_003full.jpg
Table 1. LK Project, select Kaukua Drill Hole Results
Hole
From (m)
To (m)
Width (m)
Pd_Eq
g/t*
In-Situ
Pd_Eq g/t*
Estimated
Recovered
PGE
(Pt+Pd+Au)
Pd g/t
Pt g/t
Au g/t
Cu %
Ni
%
Co g/t
LK21-100
Upper
Zone
37.6
64.0
26.4
0.67
0.42
0.16
0.09
0.03
0.04
0.09
0.10
71
Inc.
37.6
42.0
4.4
1.03
0.67
0.38
0.21
0.09
0.07
0.14
0.13
74
Lower
Zone
246.2
359.5
113.4
1.46
0.93
0.87
0.61
0.21
0.04
0.09
0.14
89
Inc.
246.2
284.5
38.4
2.03
1.33
1.30
0.91
0.32
0.07
0.14
0.17
95
Inc.
249.5
259.0
9.6
3.27
2.21
2.25
1.54
0.54
0.17
0.27
0.21
111
Inc.
249.5
254.0
4.6
4.02
2.71
2.82
1.94
0.68
0.21
0.30
0.26
121
And
330.8
338.0
7.2
2.99
2.03
2.31
1.69
0.53
0.08
0.18
0.16
85
Inc.
330.8
335.0
4.2
3.98
2.71
3.20
2.35
0.75
0.10
0.21
0.19
98
Inc.
330.8
332.0
1.2
5.65
3.85
4.65
3.50
1.01
0.14
0.25
0.25
132
And
351.0
359.5
8.5
2.73
1.81
1.87
1.31
0.49
0.07
0.19
0.20
105
Inc.
358.0
359.5
1.5
5.88
3.97
4.45
2.95
1.42
0.08
0.48
0.33
111
LK21-101
Upper
Zone
83.0
100.8
17.8
0.76
0.45
0.15
0.08
0.03
0.04
0.08
0.13
103
Lower
Zone
272.6
347.1
74.5
1.46
0.94
0.72
0.49
0.17
0.06
0.13
0.16
92
Inc.
276.9
298.7
21.8
1.68
1.08
0.92
0.61
0.23
0.08
0.13
0.17
92
Inc.
290.6
298.7
8.1
2.49
1.67
1.52
1.00
0.36
0.16
0.24
0.20
93
And
325.4
345.0
19.6
2.22
1.47
1.19
0.81
0.28
0.10
0.24
0.21
106
Inc.
325.4
334.0
8.6
2.70
1.84
1.65
1.13
0.38
0.13
0.30
0.20
83
Inc.
333.0
334.0
1.0
4.15
2.77
1.51
1.03
0.29
0.19
0.70
0.48
177
LK21-102
Upper
Zone
62.8
82.5
19.7
0.68
0.42
0.16
0.09
0.03
0.04
0.09
0.10
76
Lower
Zone
248.2
361.8
113.6
1.57
1.02
0.92
0.63
0.23
0.06
0.12
0.14
92
Inc.
291.5
361.8
70.3
1.85
1.22
1.15
0.80
0.29
0.07
0.15
0.15
90
Inc.
291.5
305.2
13.7
3.16
2.12
2.21
1.58
0.55
0.09
0.24
0.21
107
Inc.
296.0
299.0
3.0
4.22
2.79
3.07
2.22
0.77
0.08
0.21
0.30
141
And
348.7
361.8
13.1
3.04
2.04
2.03
1.39
0.51
0.12
0.26
0.21
104
Inc.
357.7
359.7
2.0
7.98
5.52
5.82
3.97
1.48
0.37
0.78
0.41
138
Inc.
358.7
359.7
1.0
9.56
6.64
7.08
4.81
1.83
0.44
0.95
0.46
150
LK21-103
Upper
Zone
54.3
77.0
22.7
0.88
0.55
0.27
0.10
0.03
0.13
0.10
0.12
83
Inc.
55.9
62.0
6.2
1.23
0.84
0.57
0.13
0.05
0.38
0.15
0.12
72
Lower
Zone
248.0
343.5
95.5
0.75
0.45
0.29
0.20
0.07
0.02
0.05
0.11
78
Inc.
258.0
330.5
72.5
0.84
0.50
0.31
0.21
0.08
0.02
0.05
0.13
88
Inc.
258.0
275.0
17.0
1.19
0.72
0.49
0.35
0.12
0.03
0.07
0.17
108
Inc.
272.0
273.5
1.5
3.12
2.11
2.01
1.42
0.46
0.13
0.29
0.22
128
And
319.8
330.5
10.7
1.27
0.83
0.82
0.57
0.20
0.04
0.09
0.10
63
Inc.
326.0
329.0
3.0
2.18
1.44
1.39
0.97
0.33
0.08
0.16
0.18
82
LK21-104
Upper
Zone
15.3
43.0
27.8
0.81
0.51
0.18
0.10
0.03
0.06
0.12
0.12
83
Inc.
16.8
22.0
5.3
1.07
0.69
0.34
0.17
0.07
0.10
0.16
0.14
75
Lower
Zone
209.5
278.0
68.5
0.75
0.42
0.20
0.14
0.05
0.01
0.03
0.14
89
Inc.
211.2
221.2
10.0
1.28
0.79
0.60
0.42
0.16
0.03
0.08
0.16
105
LK21-105
Upper
Zone
120.4
131.1
10.8
0.86
0.53
0.20
0.11
0.03
0.06
0.11
0.13
92
Lower
Zone
304.3
425.3
121.1
1.57
1.01
0.85
0.59
0.21
0.05
0.13
0.16
94
Inc
321.0
323.7
2.7
3.13
2.15
2.12
1.53
0.49
0.10
0.31
0.18
116
And
344.0
346.9
2.9
4.34
2.92
2.69
1.85
0.66
0.18
0.43
0.33
160
Inc.
346.0
346.9
0.9
7.78
5.29
5.18
3.58
1.25
0.35
0.75
0.52
206
And
390.8
424.3
33.5
2.07
1.36
1.19
0.82
0.29
0.08
0.18
0.19
96
Inc.
407.7
418.9
11.3
2.56
1.65
1.37
0.97
0.32
0.09
0.21
0.27
116
Inc.
407.7
408.2
0.6
15.99
9.54
6.07
4.91
1.07
0.09
0.85
2.60
725
LK21-106
Upper
Zone
123.1
137.9
14.8
0.95
0.56
0.20
0.12
0.03
0.05
0.09
0.16
119
Inc.
129.0
130.5
1.5
1.50
0.94
0.43
0.26
0.06
0.12
0.17
0.22
138
Lower
Zone
271.3
301.5
30.2
0.84
0.51
0.34
0.22
0.09
0.03
0.05
0.12
88
Hole
From (m)
To (m)
Width (m)
Pd_Eq
g/t*
In-Situ
Pd_Eq g/t*
Estimated
Recovered
PGE
(Pt+Pd+Au)
Pd g/t
Pt g/t
Au g/t
Cu %
Ni
%
Co g/t
Inc.
271.3
277.0
5.7
1.34
0.82
0.59
0.40
0.16
0.03
0.10
0.17
119
LK21-107
Upper
Zone
86.3
107.0
20.7
0.70
0.42
0.14
0.08
0.03
0.04
0.09
0.11
82
Inc.
89.0
90.0
1.0
1.22
0.80
0.45
0.24
0.12
0.10
0.19
0.14
91
Lower
Zone
253.5
262.6
9.1
0.77
0.53
0.17
0.12
0.05
0.01
0.19
0.08
75
Inc.
261.7
262.6
0.9
3.16
2.71
0.03
0.00
0.00
0.03
1.84
0.08
120
LK21-108
Upper
Zone
55.7
87.0
31.3
0.59
0.36
0.12
0.06
0.02
0.03
0.08
0.09
74
Inc.
77.2
79.3
2.1
1.15
0.78
0.24
0.12
0.03
0.08
0.26
0.14
98
Lower
Zone
264.0
345.9
81.9
0.86
0.51
0.32
0.21
0.07
0.03
0.05
0.13
95
Inc.
265.5
277.2
11.7
1.21
0.73
0.56
0.41
0.13
0.03
0.05
0.16
106
And
336.0
345.9
9.9
2.03
1.34
1.24
0.84
0.29
0.11
0.16
0.17
103
Inc.
337.7
341.0
3.3
3.57
2.44
2.44
1.69
0.58
0.17
0.33
0.22
108
Hole
From (m)
To (m)
Width (m)
Pd_Eq
g/t*
In-Situ
Pd_Eq g/t*
Estimated
Recovered
PGE
(Pt+Pd+Au)
Pd g/t
Pt g/t
Au g/t
Cu %
Ni
%
Co g/t
* Pd_Eq calculated using in-situ values and 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/lb Ni, and $20/lb
Co. Limited historical metallurgical work on the Kaukua Deposit indicates final recoveries in the range
of 73% Pd, 56% Pt, 78% Au, 91% Cu, 48% Ni and 48% Co and are used in the Estimated Recovered
Pd_Eq grade calculation.
**Italicised orange highlighted results are previously released results see news release
November 23,
2021
.
Palladium Equivalent
The Company is 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, US$7.50 per
pound for nickel, and $20 per pound cobalt consistent with the calculation used in the Company's
September 2021 NI 43-101 Haukiaho Resource Estimate.
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
Metals for Green Transportation
. A Canadian mineral exploration and development
company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel
deposits in leading mining jurisdictions. Its flagship project is the Läntinen Koillismaa (LK) Project in
north-central Finland, which is ranked by the Fraser Institute as one of the world's top countries for
mineral exploration and development. LK is a PGE-copper-nickel project that has existing Mineral
Resources. PDM's second project is the 2020 Discovery of the Year Award winning Tyko Project, a
high-grade sulphide, copper-nickel project located in Canada. 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
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 occur, or other similar
expressions. By their nature, forward-looking statements involve known and unknown risks,
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 statements. Such factors include, among others, risks
associated with project development; the need for additional financing; 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 opinions or other circumstances should change. Investors are cautioned against attributing
undue certainty to forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/109611