Palladium One Reports 4.8% Nickel, 3.7% Copper (6.8% Nickel Equivalent) over 1.8 Meters from Massive Nickel Copper Sulphides at the New West Pickle Zone of the Tyko Project, Canada
Palladium One Reports 4.8% Nickel, 3.7%
Copper (6.8% Nickel Equivalent) over 1.8
Meters from Massive Nickel Copper Sulphides
at the New West Pickle Zone of the Tyko
Project, Canada
Highlights
Massive to semi massive pentlandite-chalcopyrite-pyrrhotite sulphide discovered at the
600-meter long VTEMmax Electromagnetic ("EM") anomaly known as the 'West Pickle
Zone':
12 diamond drill holes completed to date
Preliminary assay results return:
3.4% Nickel Equivalent ("Ni Eq") over 3.7 meters
(2.3% Ni, 1.8% Cu, 0.45 g/t Total
Precious Metals ("TPM") (Pt+Pd+Au)) in hole TK-22-059
Including 6.8% Ni Eq over 1.8 metres
(4.8% Ni, 3.7% Cu, 0.87 g/t TPM)
And 9.4% Ni Eq over 0.6 metres
(8.2% Ni, 1.6% Cu, 1.62 g/t TPM)
Visual results for holes TK-22-070, which intersected 1.7 meters of massive sulphide
mineralization from 165.4 to 167.1 meters down hole.
The new discovery 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 is now host to 5 known
nickel sulphide zones along a 20 kilometer trend and several yet to be tested VTEMmax
anomalies
Two Conolith systems ("Feeder Dykes") with several proximal Ni-Cu Zones
identified.
Toronto, Ontario--(Newsfile Corp. - October 4, 2022) -
Palladium One Mining Inc.
(
TSXV: PDM)
(OTCQB: NKORF) (FSE: 7N11
) (the "
Company
" or "
Palladium One
") is pleased to report
preliminary assay results form the new West Pickle massive sulphide discovery. The Tyko Property
hosts nickel, copper and cobalt, each of which has been designated a Critical Mineral in Canada, the
United States and the European Union.
President and CEO, Derrick Weyrauch, commented, "We are pleased to report the first assay results
from our new West Pickle massive sulphide discovery, with individual assays over 8% nickel.
The
sulphides have an extremely high metal tenor and look very much like our Smoke Lake Discovery, 20
kilometers to the east.
Starting with our Kaukua South discovery at the LK Project, our very systematic exploration approach
has seen a very high rate of discovery success.
In fact, three discoveries in the last two years. At Tyko
our first discovery was at the Smoke Lake Zone and now we have the West Pickle high-grade nickel-
copper sulphide discovery.
The lithologies and mineralization at West Pickle closely resemble those found at the Smoke Lake, RJ,
and Tyko zones, which together form a 20-kilometer long trend, representing a very robust nickel
sulphide mineralizing system."
The West Pickle Lake discovery occurs on the Pezim II claim block of the larger Tyko Project (see new
release
July 27, 2022
). A Bore hole electromatic survey "BHEM" has been completed at West Pickle,
results of which are expected shortly. The survey was carried out to further refine the geometry and
extend the mineralization intersected to date.
To allow for the traditional moose hunting season, the drill program at Tyko was paused mid-September
and will remain so until mid-October. Drilling will resume with one rig and continue to the end of the year.
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
TK-22-059
184.0
187.7
3.7
3.37
2.33
1.85
- - -
0.45
0.21
0.21
0.03
Inc.
185.3
187.0
1.8
6.84
4.79
3.67
- - -
0.87
0.41
0.41
0.05
Inc.
185.3
185.9
0.6
9.40
8.21
1.60
- - -
1.62
0.80
0.79
0.03
(1)
Reported widths are "drilled widths" not true widths.
(2)
Cobalt analysis have not yet been received.
(3)
* Ni_Equivalent is calculated for comparison purposes using recent spot prices, $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
)
.
Table 2:
Visual Results: Tyko 2022 Drill Results from the West Pickle Zone
Hole
From
(m)
To
(m)
Width
(m)
Au g/t
TK-22-058
213.0
221.7
8.7
Minor Disseminated and
Stringer Sulphide Zone
TK-22-059
184.0
187.7
3.7
Strong Disseminated and
Stringer Sulphide Zone
Including
185.3
187
1.7
Massive and Semi-Massive
Sulphide Zone
TK-22-060
184.3
188.5
4.7
Strong Disseminated and
Stringer Sulphide Zone
Including
186.6
188.5
1.9
Semi-Massive, locally Massive
Sulphide Zone
TK-22-061
188.7
192.0
3.3
Strong Disseminated and
Stringer Sulphide Zone
TK-22-062
207.5
215.9
8.4
Moderate Disseminated and
Stringer Sulphide Zone
TK-22-063
149.5
151.0
1.5
Moderate Disseminated and
Stringer Sulphide Zone
TK-22-064
219.8
246.6
26.8
Minor Disseminated and
Stringer Sulphide Zone
TK-22-065
224.3
247.7
23.4
Minor Disseminated and
Stringer Sulphide Zone
TK-22-066
156.5
164.3
7.8
Moderate Disseminated and
Stringer Sulphide Zone
TK-22-067
197.0
212.0
15.0
Minor Disseminated and
Stringer Sulphide Zone
TK-22-068
132.0
140.4
8.4
Minor Disseminated and
Stringer Sulphide Zone
TK-22-069
No Mineralization
TK-22-070
164.0
107.1
6.1
Strong Disseminated and
Stringer Sulphide Zone
Including
165.4
167.1
1.7
Massive and Semi-Massive
Sulphide Zone
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.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6502/139360_feb5228634e5a99d_001full.jpg
Figure 2
. Closeup of massive pentlandite-pyrrhotite-chalcopyrite in hole TK-22-070.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/6502/139360_feb5228634e5a99d_002full.jpg
Figure 3.
Tyko Property map showing various mineralized zones and multi-line VTEMmax anomlies,
background is total field mag as the background.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/6502/139360_feb5228634e5a99d_003full.jpg
Figure 4.
Plan map of the RJ Zone and new West Pickle Zone with VTEMmax and ground EM maxwell
plates with Calculated Vertical Gradient ("CVG") as the background.
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/6502/139360_feb5228634e5a99d_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/6502/139360_feb5228634e5a99d_005full.jpg
*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
).
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 with drill
hole intercepts returning up to
10.2% NiEq
(
8.1% Ni, 2.9% Cu
, 0.1% Co, 0.61g/t Pd, 0.71g/t Pt, and
0.02g/t Au)
over 3.8 metes
in hole TK-20-023 (see news release
January 19, 2021
).
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:
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