Palladium One Reports Final Assay Results for Kaukua South Drilling, Finland, Returned 4.4 g/t Pd_Eq over 7.5 Meters within 2.6 g/t Pd_Eq over 49.3 Meters
Palladium One Reports Final Assay Results for
Kaukua South Drilling, Finland, Returned 4.4
g/t Pd_Eq over 7.5 Meters within 2.6 g/t Pd_Eq
over 49.3 Meters
Highlights
All assay results have been received for the greater Kaukua area, three Murtolampi Zone
drill holes remain pending.
Final Kaukua South results include 4.4 g/t Palladium Equivalent (Pd_Eq) over 7.5 meters
within 2.6 g/t Pd_Eq over 49.3 meters in hole LK21-122.
The Far Eastern IP Anomaly was tested with two holes both returning Upper and Lower
Zone Kaukua-style PGE-Cu-Ni mineralization, up to 1.5 g/t Pd_Eq over 18.2 Meters in hole
LK21-031.
The Far Eastern IP Anomaly is a high priority area for future resource expansion, and
permitting in this area has been accelerated.
Toronto, Ontario--(Newsfile Corp. - February 7, 2022) - Final assay results for Kaukua South are have
been received, with intersection up to
4.4 g/t Pd_Eq over 7.5 meters, within 2.6 g/t Pd_Eq over 49.3
meters
, in hole LK21-122 starting at 55 meters down hole (Figure 1), said Palladium One Mining Inc.
(TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) ("Palladium One" or the "Company").
Derrick Weyrauch, President and CEO commented: "Resource definition drilling on Kaukua South has
again produced stellar grades and widths. New mineralized zones continue to be discovered, as
demonstrated with reconnaissance drilling on the Far East IP anomaly which returned Kaukua-style
PGE-Cu-Ni mineralization having typical resource grades and widths. It is apparent that the Far East is
the highest priority area for resource expansion in the greater Kaukua area, which hosts an
approximately 6-kilometer long mineralized strike length."
All assay for the greater Kaukua area, with the exception of three holes in the satellite Murtolampi Zone,
have now been received (Figure 1, 2, 3). Resource modelling can now begin for the updated Kaukua
mineral resource estimate, expected in Q1 2022.
The Far East IP anomaly (Figure 3) was tested with two drill holes which retuned up to 1.5 g/t Pd_Eq
over 18.2 Meters in hole LK21-031 in the Lower Zone. Both holes also intersected the Upper Zone,
confirming the same stratigraphy found in Kaukua South. The Upper Zone was also well mineralized
returning 1.0 g/t Pd_Eq over 12.0 meters in hole LK21-131. It is now apparent that the Far East IP
anomaly is simply a continuation of Kaukua South, which has now been drill tested over 4.5 kilometers
and represents an excellent target for additional near surface resource expansion.
Drill pad location options for the Far East IP anomaly (holes LK21-130 & 131) were restricted due to the
area's tenure being an Exploration Permit application.
Resource definition drilling of the Far East IP
anomaly will require receipt of the Exploration Permit as the remaining target area is federally owned
land and federal lands can only be drilled with an Exploration Permit.
Drill pad location options are even more restricted for the Western IP bullseye anomaly (Figure 1) and
therefore it was only tested with one drill hole, LK21-129. This 401-meter hole was drilled in a suboptimal
western direction due to the need to locate the drill pad on an existing Exploration Permit. The hole
intersected primarily granophyric intermediate to felsic rock interpreted to be related to thermally altered
felsic and intermediate volcanics which form the cap rock of the mafic-ultramafic Kollisamaa Complex.
Portion of the granophyric rock contained abundant fine-grained magnetite which may be responsible for
the strong chargeability IP response. The rock types intersected in hole LK21-129 suggest that this is the
"roof" of the Kollisamaa Complex, indicating that there may be downfaulting along the northeast trending
fault to the west of the Kaukua Pit area. Additional testing is planned for this anomaly with more optimal
northern drilling directions.
Figure 1.
Historic and current drilling in the Kaukua area having a drill data cut-off date of September
30, 2021 (hole LK21-137), assays have been received for holes up to LK21-134, the remainder are
pending. Background is Induced Polarization ("IP") Chargeability.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6502/112960_90ac0cf1a415f8e9_001full.jpg
Figure 2.
Kaukua South Long Section, looking north showing all drill holes and results in Kaukua South.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6502/112960_90ac0cf1a415f8e9_002full.jpg
Figure 3.
Eastern Half of Kaukua South showing the Far East IP Anomaly and drill holes LK21-130 and
131
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6502/112960_90ac0cf1a415f8e9_003full.jpg
Table 1.
LK Project, select Kaukua 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
LK21-121
Lower Zone
39.4
52.5
13.1
1.79
1.19
1.26
0.86
0.31
0.08
0.12
0.12
78
Inc.
49.5
52.5
3.0
2.62
1.81
1.99
1.36
0.44
0.19
0.20
0.12
73
LK21-122
Lower Zone
54.8
104.0
49.3
2.62
1.79
2.11
1.48
0.52
0.11
0.16
0.11
70
Inc.
54.8
88.5
33.8
3.49
2.39
2.84
1.98
0.71
0.15
0.20
0.15
87
Inc.
63.5
71.0
7.5
4.43
3.04
3.73
2.58
0.96
0.19
0.25
0.17
96
Inc.
65.0
66.5
1.5
6.26
4.29
5.65
3.67
1.72
0.26
0.30
0.19
104
LK21-123
Lower Zone
15.6
57.0
41.4
1.42
0.92
0.70
0.47
0.18
0.05
0.14
0.15
84
Inc.
15.6
45.1
29.5
1.61
1.04
0.74
0.50
0.18
0.06
0.18
0.18
102
Inc.
36.0
42.0
6.0
2.09
1.35
1.10
0.78
0.26
0.06
0.18
0.22
115
LK21-124
Upper Zone
235.0
255.0
20.0
0.95
0.61
0.31
0.19
0.06
0.07
0.13
0.12
78
Inc.
247.0
247.8
0.8
2.56
1.73
0.76
0.54
0.09
0.14
0.50
0.30
136
Lower Zone
307.7
325.0
17.3
1.76
1.14
1.01
0.70
0.24
0.07
0.13
0.17
88
Inc.
316.5
317.6
1.1
4.10
2.71
2.64
1.86
0.65
0.13
0.31
0.34
100
LK21-125
Upper Zone
227.0
260.0
33.0
1.00
0.63
0.30
0.19
0.05
0.06
0.12
0.14
83
Inc.
252.0
260.0
8.0
1.48
0.95
0.50
0.34
0.08
0.07
0.20
0.20
87
Lower Zone
298.5
314.2
15.7
1.21
0.77
0.49
0.31
0.13
0.05
0.14
0.14
103
Inc.
300.0
304.5
4.5
1.80
1.23
0.79
0.49
0.21
0.10
0.31
0.16
112
LK21-126
No Significant Assays
LK21-127
Upper Zone
46.3
64.5
18.2
0.69
0.44
0.18
0.11
0.02
0.04
0.10
0.10
71
Inc.
46.3
50.3
4.0
1.11
0.73
0.32
0.19
0.06
0.08
0.19
0.13
98
Lower Zone
138.5
143.6
5.1
1.01
0.66
0.29
0.17
0.07
0.06
0.16
0.13
84
LK21-128
Upper Zone
80.5
121.5
41.1
0.79
0.49
0.22
0.13
0.04
0.05
0.09
0.11
77
Inc.
93.9
101.0
7.1
1.06
0.66
0.32
0.20
0.06
0.06
0.12
0.15
100
Lower Zone
263.5
268.9
5.4
2.27
1.45
1.13
0.76
0.29
0.08
0.21
0.25
122
LK21-129
No Significant Assays
LK21-130
Upper Zone
83.5
100.0
16.5
0.85
0.53
0.20
0.10
0.03
0.07
0.12
0.12
84
Inc.
89.0
98.4
9.3
0.96
0.61
0.23
0.12
0.03
0.07
0.14
0.14
86
Inc.
95.5
98.4
2.8
1.12
0.72
0.29
0.16
0.03
0.10
0.17
0.16
92
Lower Zone
196.7
211.5
14.9
1.08
0.70
0.32
0.21
0.07
0.03
0.17
0.15
73
Inc.
206.0
208.5
2.5
1.80
1.16
0.53
0.36
0.13
0.04
0.29
0.25
92
LK21-131
Upper Zone
92.0
124.0
32.0
0.77
0.48
0.18
0.11
0.02
0.05
0.10
0.12
76
Inc.
92.0
104.0
12.0
1.01
0.63
0.25
0.14
0.03
0.07
0.14
0.15
91
Lower Zone
235.8
254.0
18.2
1.49
0.96
0.44
0.29
0.10
0.05
0.24
0.20
97
Inc.
235.8
241.0
5.2
1.83
1.16
0.52
0.34
0.12
0.07
0.27
0.26
120
LK21-132
Lower Zone
34.1
61.0
27.0
1.40
0.90
0.69
0.45
0.17
0.07
0.14
0.15
90
Inc.
35.0
39.0
4.0
2.52
1.63
1.28
0.78
0.32
0.17
0.24
0.26
138
LK21-133
Upper Zone
5.5
30.5
25.0
0.68
0.42
0.15
0.09
0.02
0.04
0.09
0.10
75
Inc.
16.4
23.0
6.7
0.95
0.59
0.21
0.12
0.03
0.06
0.12
0.15
106
Lower Zone
240.4
248.4
8.0
1.41
0.89
0.59
0.40
0.15
0.04
0.15
0.18
90
Inc.
241.6
244.0
2.4
2.29
1.53
1.08
0.73
0.26
0.09
0.33
0.22
97
LK21-134
Upper Zone
7.6
39.3
31.7
0.61
0.38
0.15
0.07
0.02
0.06
0.08
0.09
65
Inc.
9.2
12.0
2.8
1.05
0.69
0.51
0.19
0.09
0.23
0.10
0.11
71
Lower Zone
250.3
264.1
13.9
1.01
0.65
0.39
0.26
0.09
0.05
0.13
0.11
92
Inc.
250.3
256.5
6.3
1.55
1.05
0.71
0.46
0.16
0.08
0.24
0.14
87
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
* 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.
Palladium Equivalent
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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