Palladium One Outlines MagnetoTelluric "MT" Anomaly at West Pickle, Drill Program Underway on Tyko Ni - Cu Project
Palladium One Outlines MagnetoTelluric "MT"
Anomaly at West Pickle, Drill Program
Underway on Tyko Ni - Cu Project
Toronto, Ontario--(Newsfile Corp. - October 30, 2023) -
Palladium One Mining Inc.
(TSXV: PDM)
(OTCQB: NKORF) (FSE: 7N11)
(the "
Company
" or "
Palladium One
") is pleased to announce it has
discovered a large MT resistivity anomaly on the Tyko I property (Figure 1 and 2) which forms part of the
larger Tyko Nickel - Copper Project, in Ontario, Canada.
The MT resistivity anomaly is coincident with
the high-grade West Pickle Zone and extends eastward toward the RJ Zone suggesting that they form
one continuous mineralizing system.
Highlights
The 2023 diamond drill program is underway at Tyko
A 1,600 meter long MT resistivity anomaly has been discovered
which extends from the high-
grade West Pickle Zone toward the interpreted Chonolith / Feeder Dyke structure
MT Anomaly coincident with multiple Cu and Ni in soil anomalies
Mag, MT and soil anomalies suggest West Pickle and RJ Zones form part of one large
mineralizing system
President and CEO, Derrick Weyrauch commented, "We are very pleased to announce positive results
from the first MT survey on the Tyko Project that indicate a strong MT resistivity anomaly extending from
our high-grade West Pickle zone toward multiple copper and nickel in-soil anomalies associated with
the interpreted Chonolith / Feeder Dyke target.
Tyko's fall diamond drill program has commenced and is
currently on track."
The MT survey represents the first deep penetrating geophysical survey to be conducted on Tyko. The
survey was undertaken by Quantec Geoscience using the SPARTAN MT system which has the potential
to detect both high-grade massive nickel sulphide, as that found at the West Pickle zone, and blebby to
disseminated sulphide as found at the RJ zone. The MT survey targeted a highly prospective strike
length of 2,800 meters (Figure 2) between the West Pickle and RJ Zones covering several highly
anomalous Cu and Ni soil anomalies and associated magnetic highs (see press release
August 22,
2023
).
Drilling is now underway at the Tyko Project. The current drill program, will focus on targets in the West
Pickle Zone of Tyko I as well the newly acquired Moshkinabi mafic ultramafic complex in the Tyko II
property (see news releases
September 11
and
September 28, 2023
).
The Summer field program is now completing with a total of 7,340 soil samples having been collected,
additional results are expected shortly, and will assist in drill hole targeting. The summer field program
also involved extensive geological mapping, the Company now has much greater understanding of the
Tyko Project geology. The key objective of the 2023 Exploration Program was ground truthing
interpreted Chonoliths / Feeder dykes prior to diamond drilling.
As part of the program, in Q1 2023, the
Company completed a high-resolution magnetic survey (see news release
May 16, 2023
), the results of
which are presented in Figures 1.
The 2023 magnetic survey was designed to refine the geometry of the
interpreted chonoliths / feeder dykes across the Tyko project's 30-kilometer strike length. Recent
geological mapping has identified outcrops and boulders of ultramafic pyroxenites which continue to
support the chonolith / feeder dyke geological model.
Figure 1.
Tyko I Property map showing the mineralized zones and multi-line Versatile Time Domain
Electromagnetic ("VTEM") anomalies, background is total magnetic intensity reduced to pole ("TMI-
RTP").
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6502/185471_8a37a93284cf1a2f_001full.jpg
Figure 2. Copper and Nickel soil anomalies in
the West Pickle Zone area showing: trace of the
interpreted Chonolith / Feeder Dyke trend, existing drill holes (white dots), soil samples (black squares),
background is a 250m depth plan map showing 3D resistivity inversion results from the
2023 MT survey
.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/6502/185471_8a37a93284cf1a2f_002full.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:
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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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