Palladium One Kaukua South Anomaly Extended to 5.5 km at the Läntinen Koillismaa (LK) PGE-Cu-Ni Project, Finland
Palladium One Kaukua South Anomaly
Extended to 5.5 km at the Läntinen Koillismaa
(LK) PGE-Cu-Ni Project, Finland
Vancouver, British Columbia--(Newsfile Corp. - August 10, 2020) -
Palladium One Mining Inc.
(
TSXV:
PDM
) (
FSE: 7N11
) (
OTC: NKORF
) (the "
Company
" or "
Palladium One
") is pleased to report that the
final data from the 2020 winter Induced Polarization ("IP") geophysical program, suggests the Kaukua
South anomaly extends for over 5.5 kilometers ("km") (Figure 1).
Additionally, the Phase 1 drill program
has now restarted at the Läntinen Koillismaa ("LK") PGE-Cu-Ni Project, located in north-central Finland.
President and CEO, Derrick Weyrauch commented, "
Kaukua South has become a key focus for the
Company. The existing Kaukua Deposit is robust and contained within 1 kilometer of strike length,
while Kaukua South may now have a strike length of over 5.5 kilometers.
This suggests the potential
to add significant, near surface, tonnage to existing NI 43-101 open pit resources and could materially
increase conceptual mine throughput and/or a conceptual life-of-mine plan. We are eagerly awaiting
results from the now resumed drill program."
The Greater Kaukua Area of the LK project is shown in Figure 1 and illustrates the new, most western, IP
anomaly of Kaukua South that is open for expansion.
Additionally, the Summer 2020 proposed drill hole
locations to test the IP chargeability anomalies discovered in 2020, are shown in red, while H1 2020 drill
holes are shown in black.
Figure 1.
Greater Kaukua Area showing a plan view of the 2008 and 2020 IP surveys. The newly
expanded Kaukua South Zone, and Murtolampi Zone are outlined by a dashed red line.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6502/61307_38876db4641a79a4_001full.jpg
Kaukua South will be a central focus of the renewed drill program. The final data from the winter IP
geophysical program comprised a reconnaissance line located ~1.5km east of the Kaukua Deposit.
This reconnaissance line detected a strong chargeability anomaly which appears to be the western
extension of the Kaukua South anomaly.
The Kaukua South zone was known to be open to west with the westernmost hole having the highest
grade intercept within the zone,
33.0m @ 1.9g/t Palladium Equivalent
("Pd_Eq"),
(1.05 g/t Pd+Pt+Au
("PGE"), 0.74 g/t Pd, 0.24 g/t Pt, 0.07 g/t Au, 0.17% Cu, and 0.13% Ni, in hole KAU08-035).
This
reconnaissance line suggest that the Kaukua South anomaly extends for at least another 1.5 kilometers
to west of hole KAU08-035, for a total length of greater than 5.5 kilometers (Figure 1).
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, platinum-group-elements (PGE), copper, nickel
exploration and development company. Its assets consist of the Läntinen Koillismaa ("LK") and
Kostonjarvi ("KS") PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and
Disraeli PGE-Ni-Cu properties in Ontario, Canada. All projects are 100% owned and are of a district
scale.
LK is an advanced project targeting disseminated sulphide along 38 kilometers of favorable
basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package
covering a regional scale gravity and magnetic geophysical anomaly.
Tyko is a 13,000-hectare
project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain.
Disraeli is a 3,100-hectare project targeting PGE-rich disseminated and massive sulphide in a highly
productive Proterozoic mid-continent rift.
The Kaukua deposit of the LK project hosts a pit-constrained resource of 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).
*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:
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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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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