Palladium One Reports 10.4% Nickel, 3.4% Copper over 2.3 Meters and Adds Second Drill Rig at The Tyko Project, Canada
Palladium One Reports 10.4% Nickel, 3.4%
Copper over 2.3 Meters and Adds Second Drill
Rig at The Tyko Project, Canada
Highlights
Assay results:
3.1% Nickel Equivalent ("Ni Eq") over 10.1 meters
(
2.5% Ni, 1.0% Cu
, 0.03% Co, 0.26
g/t Total Precious Metals ("TPM") (Pt+Pd+Au)) in massive and disseminated sulphide in
hole TK-22-070
Including 12.8% Ni Eq
over 2.3 metres
(
10.4% Ni, 3.4% Cu
, 0.14% Co, 0.92 g/t TPM)
Including 15.0% Ni Eq
over 0.9 metres
(12.9% Ni, 2.7% Cu
, 0.16% Co, 1.05 g/t TPM
)
Drilling has resumed on West Pickle and a second drill rig has been added
West Pickle closely resembles the extremely high-grade Smoke Lake Zone located 20
kilometers to the east which has returned up to:
10.2% Ni Eq
over 3.8 meters
(
8.1% Ni, 2.9% Cu
, 0.1% Co, 0.61g/t Pd, 0.71g/t Pt, and
0.02g/t Au)
in hole TK-20-023) (see news release
January 19, 2021
)
West Pickle is interpreted to be an extension of the historic RJ showing located 2.7
kilometres to the east which retuned up to:
1.04 % Ni and 0.23% Cu over 16.2 meters
in hole TK-16-002
(see press release
June 8,
2016
)
The Tyko Project represents a major new Nickel District which hosts five known nickel
sulphide zones along a 20-kilometer trend and several yet to be tested Versatile Time
Domain Electromagnetic ("VTEM")
anomalies
Toronto, Ontario--(Newsfile Corp. - November 29, 2022) -
Palladium One Mining Inc.
(
TSXV: PDM)
(OTCQB: NKORF) (FSE: 7N11
) (the "
Company
" or "
Palladium One
") is pleased to report the
highest-grade drillhole intercept to date on the Tyko Property, from the West Pickle massive sulphide
discovery in Ontario, Canada. The Tyko Property hosts nickel, copper and cobalt, each of which has
been designated a Critical Mineral.
President and CEO, Derrick Weyrauch commented, "With assays of
up to 12.8% nickel equivalent
over 2.3 meters
(Table 1, Figure 1), drillhole TK-22-070's nickel grades exceed those of our 2020
award-winning Smoke Lake Discovery located 20 kilometers to the east. These are truly spectacular
grades over minable widths. Given the spectacular grades we added a second drill rig in November to
also focus on West Pickle."
The West Pickle discovery occurs on the Pezim II claim block of the larger Tyko Project (seen new
release
July 27, 2022
). To date a total of 20 holes, totalling 4,604 meters have been drilled in the vicinity
of the West Pickle Discovery. Two drill rigs guided by a recent borehole electromagnetic ("BHEM")
survey are now focused on infilling and expanding the West Pickle massive sulphide mineralization. At
present, West Pickle mineralization has been defined over more than 500 meters of strike length (Figure
3 and 5).
Figure 1
. Massive pentlandite-pyrrhotite-chalcopyrite sulphide intersection in hole TK-22-070 from
165.4 to 167.1 meters down hole. Wall rock is tonalite breccia.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6502/145981_c18793ff04296961_001full.jpg
.
Figure 2.
Tyko Property map showing various mineralized zones and multi-line VTEM anomalies,
background is Calculated Vertical Gradient Magnetics ("CVG").
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/6502/145981_c18793ff04296961_002full.jpg
.
Figure 3.
Plan map of the West Pickle and RJ zones with airborne EM and ground EM maxwell plates
showing Chonolith structures "Feeder Dykes" with Calculated Vertical Gradient Magnetics ("CVG") as
the background.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/6502/145981_c18793ff04296961_003full.jpg
.
Figure 4.
Long section looking north perpendicular to the interpreted chonolith structure linking the West
Pickle and RJ zones, showing potential for massive sulphide mineralization beyond the depth detectable
by the 2021 VTEM airborne survey.
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/6502/145981_c18793ff04296961_004full.jpg
.
Figure 5.
Long section looking south of the West Pickle Zone.
To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/6502/145981_c18793ff04296961_005full.jpg
.
Table 1: Assay Results: Tyko 2022 Drill Results from the new West Pickle Zone
Hole
From
(m)
To
(m)
Width
(m)
Ni_Eq
%
Ni
%
Cu
%
Co %
TPM g/t
(Pd+Pt+Au)
Pd g/t
Pt g/t
Au g/t
TK21-058
214.1
214.6
0.5
0.05
0.04
0.02
0.00
0.00
0.00
0.00
0.00
TK21-059
184.0
187.7
3.7
3.54
2.33
1.85
0.06
0.45
0.21
0.21
0.03
TK21-059
185.3
187.7
2.4
5.27
3.49
2.73
0.09
0.64
0.30
0.30
0.04
TK21-059
185.3
187.0
1.8
7.20
4.79
3.67
0.12
0.87
0.41
0.41
0.05
TK21-059
185.3
185.9
0.6
10.11
8.21
1.60
0.24
1.62
0.80
0.79
0.03
TK21-060
183.7
196.3
12.6
0.97
0.72
0.34
0.02
0.14
0.06
0.06
0.02
TK21-060
184.3
189.0
4.7
2.25
1.77
0.63
0.03
0.27
0.12
0.12
0.03
TK21-060
186.6
189.0
2.4
3.94
3.18
0.99
0.06
0.39
0.18
0.19
0.02
TK21-060
188.0
188.5
0.5
8.68
7.60
1.25
0.12
0.41
0.18
0.20
0.03
TK21-061
188.7
190.8
2.1
1.08
0.75
0.43
0.01
0.28
0.14
0.11
0.03
TK21-061
190.2
190.8
0.6
2.16
1.62
0.67
0.03
0.47
0.25
0.20
0.02
TK21-062
202.0
213.5
11.5
0.11
0.06
0.08
0.00
0.04
0.01
0.01
0.01
TK21-062
203.6
204.4
0.8
0.38
0.16
0.35
0.01
0.14
0.05
0.07
0.02
TK21-063
149.0
152.0
3.0
0.23
0.07
0.24
0.00
0.13
0.04
0.05
0.05
TK21-063
149.5
150.5
1.0
0.51
0.15
0.54
0.00
0.32
0.09
0.12
0.11
TK21-064
219.8
245.5
25.8
0.06
0.04
0.02
0.00
0.01
0.00
0.00
0.00
TK21-064
219.8
220.3
0.5
0.91
0.65
0.27
0.03
0.21
0.10
0.11
0.01
TK21-065
224.3
246.0
21.7
0.06
0.04
0.02
0.00
0.01
0.00
0.00
0.00
TK21-065
240.8
246.0
5.2
0.14
0.10
0.05
0.00
0.02
0.01
0.01
0.00
TK21-065
240.8
241.2
0.4
0.53
0.40
0.18
0.01
0.06
0.04
0.02
0.00
TK21-066
150.3
178.5
28.2
0.08
0.06
0.02
0.00
0.01
0.00
0.00
0.00
TK21-066
158.9
162.9
4.0
0.26
0.19
0.07
0.01
0.02
0.01
0.01
0.00
TK21-066
161.2
162.9
1.7
0.44
0.35
0.12
0.01
0.04
0.02
0.01
0.00
TK21-067
Assays Pending
TK21-068
Assays Pending
TK21-069
Assays Pending
TK21-070
164.6
174.7
10.1
3.14
2.47
0.99
0.04
0.27
0.14
0.10
0.02
TK21-070
164.6
168.4
3.8
8.05
6.42
2.40
0.09
0.64
0.35
0.25
0.04
TK21-070
165.4
167.6
2.3
12.76
10.41
3.40
0.14
0.92
0.53
0.34
0.04
TK21-070
165.4
167.1
1.7
14.56
12.58
2.49
0.17
0.94
0.60
0.30
0.04
TK21-070
165.4
166.3
0.9
15.00
12.90
2.70
0.16
1.05
0.67
0.34
0.04
(1)
Reported widths are "drilled widths" not true widths.
(2)
Italicised grey shaded values are previously reported (see news release
October 4, 2022
and
November 21, 2022
)
(3)
* Ni_Equivalent is calculated for comparison purposes using, $8.5lb nickel, $4.25lb copper, $25/lb cobalt, $1,700/oz palladium, $1,100/oz platinum,
$1,800/oz gold as per Palladium One's May 2022 NI 43-101 report on the LK Project (see news release
April 25, 2022
)
and assumes 100% recovery
rates of sulphides into concentrate.
*Nickel Equivalent ("NiEq")
Nickel equivalent is calculated using US$1,700 per ounce for palladium, US$1,100 per ounce for
platinum, US$1,800 per ounce for gold, US$4.25 per pound for copper, US$8.50 per pound for nickel
and US$25 per pound for Cobalt. This calculation is consistent with the commodity prices used in the
Company's September 2022 NI 43-101 LK resource estimate (see news release
April 25, 2022
) and
assumes 100% recovery rates of sulphides to concentrate.
About Tyko Copper-Nickel-Cobalt Project
The Tyko Copper-Nickel-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.
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 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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