Palladium One Reports Drill Assay Results for Murtolampi, Finland, 2.1 g/t Pd_Eq over 24.2 Meters at Surface
Palladium One Reports Drill Assay Results for
Murtolampi, Finland, 2.1 g/t Pd_Eq over 24.2
Meters at Surface
Highlights
Murtolampi represents an at surface, satellite deposit opportunity located only 2
kilometers north of the 2019 NI43-101 Kaukua Open Pit Mineral Resource Estimate.
2.7 g/t Palladium Equivalent (Pd_Eq) over 5.7 meters within 2.1 g/t over 24.2 meters
starting at a true depth of only 5 meters in hole LK21-137.
Toronto, Ontario--(Newsfile Corp. - March 17, 2022) - Drill hole LK21-137 at Murtolampi, Finland
intersected up to
2.7 g/t Pd_Eq over 5.7 meters, within 2.1 g/t Pd_Eq over 24.2 meters
, starting at a
true depth of 5 meters (Figure 1 and 2), said Palladium One Mining Inc. (TSXV: PDM) (OTCQB:
NKORF) (FSE: 7N11) ("Palladium One" or the "Company").
Derrick Weyrauch, President and CEO, commented: "The Murtolampi zone has again delivered a high
grade, at surface drill intercept, and represents a potentially valuable satellite open pit in the greater
Kaukua Area.
Additional regional exploration will be conducted in 2022 starting with an Induced
Polarization (IP) survey which began this month on the far eastern portion of the Haukiaho Trend wherein
the favourable marginal series changes orientation toward the north (see Figure 1)."
The Company drilled a total of 11 holes totalling 1,514 metres into the Murtolampi Zone, with values of up
to 3.4 g/t Pd_Eq over 7.0 meters within 1.8 g/t Pd over 78.5 meters
in hole LK21-026, (Figure 1 and
2, Table 1). see
news release November 16, 2020
. The Murtolampi zone is interpreted to be a faulted
offset of the Kaukua trend and shares many similarities with Kaukua resource pit area. The Murtolampi
zone has been traced over 600 meters of strike with a Core Zone of 350 meters. Murtolampi's Core
Zone is exposed on surface and represents a very low strip satellite open pit opportunity beside the main
Kaukau open pit located only 2 kilometers to the south.
2022 Regional Exploration in Finland
The first phase of 2022 regional exploration program consists of a drone based magnetic and IP survey
over the far eastern portion of the Haukiaho Trend, referred to as the Lota area (Figure 1). This portion of
the favourable basal marginal series has received very little exploration compared to the rest of the
property. Limited drilling by the Geological Survey of Finland (GTK) in the 1990's returned narrow
intervals up to 0.19% Ni and 0.31 g/t Pd in gabbroic and peridotitic rocks. Several boulders were also
located by GTK down ice of the Lota area with anomalous PGE grades. The limited geological work to
date indicates that not only does the marginal series turn north in this location but it also dips very
shallowly to the west which would provide a very favourable geometry for open pit style mining.
Figure 1.
LK Project location map showing the NI43-101 compliant Kaukua and Haukiaho Mineral
Resource Estimate, Murtolampi Zone, along with Induced Polarization (IP) grids (blue lines) and new
2022 IP survey area. Yellow lines represent Exploration Permits, red lines represent Exploration Permit
Applications and orange lines Exploration Reservations held by the Company.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6502/117119_f3a98905f41d3ab5_001full.jpg
Figure 2.
Murtolampi plan map showing IP chargeability anomalies and drill holes.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6502/117119_f3a98905f41d3ab5_002full.jpg
Table 1.
LK Project, select Murtolampi 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
LK20-012
5.8
92.9
87.2
1.28
0.77
0.53
0.32
0.17
0.04
0.08
0.18
126
Inc.
28.5
80.6
52.1
1.58
0.96
0.73
0.44
0.24
0.06
0.11
0.20
135
Inc.
28.5
48.7
20.2
2.02
1.25
1.05
0.63
0.35
0.07
0.13
0.24
150
LK20-026
11.0
89.5
78.5
1.82
1.17
1.07
0.62
0.37
0.09
0.14
0.17
108
Inc.
59.5
88.0
28.5
2.40
1.52
1.45
0.85
0.51
0.09
0.15
0.24
140
Inc.
67.0
74.0
7.0
3.42
2.18
2.19
1.29
0.78
0.11
0.21
0.32
169
LK21-135
32.0
36.0
4.0
0.61
0.37
0.06
0.03
0.02
0.01
0.10
0.10
86
LK21-136
5.5
75.0
69.5
0.76
0.48
0.38
0.22
0.13
0.02
0.07
0.08
75
Inc.
7.0
31.0
24.0
1.05
0.67
0.59
0.35
0.21
0.03
0.09
0.10
82
Inc.
21.0
26.0
5.0
1.33
0.86
0.77
0.46
0.26
0.05
0.12
0.12
92
LK21-137
5.8
30.0
24.2
2.05
1.31
1.04
0.61
0.32
0.11
0.20
0.22
134
Inc.
5.8
23.9
18.1
2.46
1.58
1.29
0.76
0.40
0.13
0.23
0.26
149
Inc.
5.8
11.5
5.7
2.70
1.75
1.43
0.84
0.45
0.15
0.27
0.27
155
* 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.
** Orange shaded values previously released (see press releases
August 25, 2020
,
November 16, 2020
)
Palladium Equivalent (Pd_Eq)
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:
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