Palladium One Reports High-Grade Results: 5.0% Nickel_Eq over 1.4 Meters at Smoke Lake and up to 891 ppm Copper and 142 ppm Cobalt in Soils at the Bulldozer Intrusion of the Tyko Sulphide Copper-Nickel Project, Ontario,
Palladium One Reports High-Grade Results:
5.0% Nickel_Eq over 1.4 Meters at Smoke Lake
and up to 891 ppm Copper and 142 ppm Cobalt
in Soils at the Bulldozer Intrusion of the Tyko
Sulphide Copper-Nickel Project, Ontario,
Canada
KEY HIGHLIGHTS
5.0% Nickel Equivalent ("Ni_Eq") over 1.4 meters
in hole TK21-052.
6.8% Ni_Eq over 0.8 meters within 3.3% Ni_Eq over 1.8 meters
in hole TK21-044.
5.2% Ni_Eq over 1.2 meters within 3.2% Ni_Eq over 3.0 meters
in hole TK21-045.
All four recently announced, multi-line, Versatile Time Domain Electromagnetic airborne
(VTEMmax) anomalies have returned significant copper, nickel and cobalt geochemical
signatures in numerous soil samples
(see news release
October 28, 2021
).
Up to 891 ppm copper, and 142 ppm cobalt
on the
Bulldozer South
anomaly
Up to 519 ppm copper and 139 ppm nickel
on the
Cupa Lake
anomaly
Up to 153 ppm copper and 116 ppm nickel
on the
West Pickle Lake
anomaly
Up to 63 ppm copper and 17 ppm cobalt
on the
Bulldozer North
anomaly
Up to 108 ppm copper and 238 ppm nickel
(see news release
January 27, 2019
) and
up
to 565 ppm nickel
(see news release
November 18, 2020
) on the
Smoke Lake
anomaly
Toronto, Ontario--(Newsfile Corp. - November 30, 2021) - Results from the summer soil sampling and
diamond drill program on the Tyko Copper-Nickel Project have been received, said Palladium One
Mining (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) ("Palladium One" or the "Company") today.
Derrick Weyrauch, President and CEO,
"We have four new multi-line EM anomalies with coincident
copper, nickel and cobalt soil anomalies. This supports our belief that there is much more mineralization
to be discovered on the wider Tyko project. Of particular interest is the large 800-meter Bulldozer South
anomaly which has returned the highest copper and cobalt in soils from the Tyko project to date, and
suggest the potential for a substantial discovery.
Smoke Lake continues to advance with the strike of the known mineralization growing to 430 meters.
Disseminated mineralization remains open along strike to both the northwest and southeast. An Induced
Polarization geophysical survey is planned for this winter to continue to chase this mineralization."
The summer field program consisted of:
A 100-meter spaced, 3,100 line-kilometer VTEMmax survey, which is the largest and most
sensitive electromagnetic (EM) survey ever flow on the Tyko Project. It identified four new multiline
EM anomalies in new areas with no previously known mineralization or drillings (see news release
October 28, 2021
).
Reconnaissance mapping prospecting, and trenching including detailed soil sampling over all four
multi-line VTEMmax anomalies which has returned copper, nickel and cobalt values comparable to
those which resulted in the discovery of the Smoke Lake nickel-copper zone (Table 1).
A resumed Phase II drill program on the Smoke Lake zone consisting of 1,973 meters in 9 holes
which returned up to
5.0% Ni_Eq over 1.4 meters
in hole TK21-052.
A bore hole electromagnetic (BHEM) survey on a 799-meter drill hole drilled as a geophysical
platform to test for massive sulphides beneath the Smoke Lake Zone.
The results of soil sampling on each new multi-line VTEMmax anomaly are detailed below:
West Pickle Lake Anomaly
This
600-meter anomaly
is located 2.5 kilometers west of the RJ zone, which returned up to
1.04%
nickel and 0.23% copper over 16.2 meters
in hole TK16-002 (see news release
April 12, 2016
).
Soil
sampling returned up to
116 ppm nickel and 153 ppm copper
in two different samples that are only 60
meters apart suggesting a strong nickel-copper signature (Figure 2 and 3).
Bulldozer South Anomaly
This
800-meter anomaly
produced the
most abundant and highest copper in soils in the history
of the Tyko project
with up to
891 ppm copper
(Figure 2). This high sample is also only 110 meters
northwest of a historic prospecting sample which returned
0.23% copper
with anomalous nickel (144
ppm) and palladium (18 ppb) in melanogabbro, having 5% finely disseminated pyrite and chalcopyrite
(see Ontario Mineral Deposit Index
MDI000000001913
). Similar to the VTEM anomalies there are
several clusters of soil anomalies in the Bulldozer South zone that require follow up. Interestingly, the
metal ratios of the soil anomalies closely follow those of the historic Bulldozer Showing with high copper
and cobalt values (up to
3.34% Cu, 0.12% Ni, 0.24% Co, 0.38 g/t Pd, 0.08 g/t Pt
(see Ontario Mineral
Deposit Index
MDI000000001901
)).
Cobalt in soils was particularly high with up to 142 ppm Co
(Figure 4). The Bulldozer South zone also occurs in a very strongly magnetic portion of the Bulldozer
Intrusion suggesting ultramafic rocks may be present at depth.
Bulldozer North Anomaly
This
200-meter anomaly
is noteworthy as one line contains a strong
EM anomaly which is
comparable in intensity to the anomalies detected over the Smoke Lake zone
. The Bulldozer
North, like Bulldozer South anomaly correlates with a very strongly magnetic portion of the Bulldozer
Intrusion, potentially representing ultramafic rocks. The copper in soil response over this anomaly was
weaker than at Bulldozer south but closely overlapped the EM anomalies with copper in soil response
over multiple lines having up to
63 ppm Cu
(Figure 1).
The Bulldozer North and South Anomalies represent the first EM and soil anomalies detected within the
large mafic-ultramafic Bulldozer Intrusion. The Bulldozer intrusion is host to one historic copper-nickel-
cobalt showing (the Bulldozer Showing), which consists of remobilized disseminated chalcopyrite and
pyrite in a shear, suggesting that more widespread copper-nickel-cobalt mineralization may occur within
the larger intrusion.
Cupa Lake Anomaly
This anomaly consists of a cluster of two multi-line anomalies which when combined
cover 400 meters
of strike length
, returned the second highest and
most widespread soil anomalies from the
summer field program as well as the highest nickel in soils
(
139 ppm Ni
). There is good
correlation with high nickel and copper values occurring in the same samples indicating strong nickel-
copper signatures. Copper values were the second highest of the 4 multiline anomalies with up to
512
ppm Cu
.
Of particular note is a strong soil anomaly with
320 ppm copper and 50 ppm nickel
located only 25
meters west of the strongest Bedrock Pick VTEMmax anomaly (Figure 1 and 2).
These anomalies are present in an area where previous mapping by the Ontario Geological survey has
identified metasediments and mafic volcanics representing remnants of greenstone belt material within
the Black Pic tonalite batholith, and hence may represent favourable conditions for the perseveration of
magmatic copper-nickel sulphide mineralization similar to the Smoke Lake zone, located only 8-
kilometers to the west
Table 1.
Comparison of the highest three soil samples collected for each multi-line anomaly compared
to soil sampling at Smoke Lake.
Anomaly / Zone
Sample No
Cu (ppm)
Ni (ppm)
Co (ppm)
Smoke Lake*
1294509
74
565
5
1294510
12
282
5
1294531
100
236
15
Bulldozer South
A764952
891
70
56
A764996
725
31
142
A0959922
109
62
42
Bulldozer North
A764792
63
11
2
A764608
57
7
3
A764755
43
17
17
West Pickle Lake
A959553
153
11
3
A389878
47
116
8
A959897
37
49
1
Cupa Lake
A389899
519
49
5
E5828861
335
83
12
A389731
26
139
16
*Italicised values for Smoke Lake have been previously released, (see news release
January 27, 2019
and
November 18, 2020
)
Figure 1.
Tyko Project, with airborne magnetic data (total field) showing various VTEMmax anomalies
(multi-lines EM anomalies are highlighted by dashed black lines) and known nickel-copper showings
(yellow triangles).
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6502/105741_1bad31711491a8b2_001full.jpg
Figure 2.
Zoom in showing
copper in soils
for the 4 multi-line VTEMmax EM anomalies. Background is
total field mag.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6502/105741_1bad31711491a8b2_002full.jpg
.
Figure 3.
Zoom in showing
nickel in soils
for the 4 multi-line VTEMmax EM anomalies. Background is
total field mag.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6502/105741_1bad31711491a8b2_003full.jpg
Figure 4.
Zoom in showing
cobalt in soils
for 4 multi-line VTEMmax EM anomalies. Background is
total field mag.
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/6502/105741_1bad31711491a8b2_004full.jpg
Smoke Lake Drill Results
The resumed Phase II drill program at Smoke Lake completed an additional 1,973 meters in 9 holes,
assay results are tabulated in Table 2 and Figure 5. The program included a 799-meter deep
geophysical platform hole targeting a large (1 kilometer long) inverted magnetic high located below the
Smoke Lake zone (Figure 6). This deep hole was designed for Borehole Electromagnetics (BHEM)
testing to help determine the possible presence of massive sulphide mineralization at depth and
immediately beneath known Smoke Lake mineralization.
The program successfully extended the Smoke Lake zone mineralization 75 meters to the southeast with
disseminated mineralization encountered near surface in hole TK21-048 (Figure 5). The Smoke Lake
zone has now been traced
over 430 meters
and disseminated mineralization remains open along strike
both to the northwest and southeast. An Induced Polarization (IP) survey is also planned for the Smoke
Lake area to target expansion of disseminated nickel-copper mineralization along strike.
The deep geophysical platform hole (TK-21-049) intersected minor gabbroic rocks from 182.3-183.6
and 357.2-364.4 meters, with minor chalcopyrite at 183 meters, these gabbroic rocks are interpreted to
be related to mafic-ultramafic rocks which host the Smoke Lake zone.
However, the hole does not
appear to have intersected the down dip extension of the Smoke Lake mineralization but did fulfil its
purpose to test the large deep magnetic inversion anomaly (Figure 6). The hole intersected substantial
clastic metasediment within the tonalite, but no ultramafic rocks. Significant disseminated magnetite was
present within the tonalite which appears to explain the high magnetic signature at this location within the
large (1 kilometer long) magnetic inversion anomaly. The BHEM surveying did not detect any EM
conductors, which would have suggested massive sulphide mineralization proximal to the drill hole.
Further drilling is planned for the up dip portion of the large Magnetic Inversion anomaly located on the
east side of Smoke Lake once new Exploration Permits are received. Additionally, the Company plans
to re-survey the existing drill hole in combination with additional holes using Induced Polarization (IP).
Multiple ground EM and BHEM surveys have been undertaken at Smoke Lake in addition to the airborne
VTEMmax survey. These surveys have not been able to trace the massive sulphide mineralization
beyond current drilling. In order to continue to explore for massive sulphide mineralization at depth, step
out holes drilled down dip and along strike combined with BHEM are necessary. These new drill holes
require an additional Exploration Permit, the current permit only covers drill pads within or proximal to the
current drilling at Smoke Lake. A new Exploration Permit is expected by year's end.
Table 1: Tyko 2021 Resumed Phase II Drill Results from the Smoke Lake Zone
Hole
From (m)
To (m)
Width (m)
Ni_Eq* %
Ni_Eq*%
Estimated
Recovered
Ni
%
Cu %
Co %
Pd g/t
Pt g/t
Au g/t
TK21-044
135.4
137.2
1.8
3.30
2.88
2.07
2.00
0.03
0.86
0.37
0.44
Inc.
135.8
136.7
0.8
6.85
5.98
4.35
4.11
0.05
1.68
0.76
0.88
TK21-045
107.0
110.0
3.0
3.18
2.74
2.46
1.01
0.04
0.61
0.34
0.26
Inc.
107.0
108.2
1.2
5.22
4.47
4.20
1.27
0.06
0.94
0.62
0.31
TK21-046
90.0
102.7
12.7
0.33
0.29
0.23
0.14
0.01
0.09
0.04
0.05
Inc.
94.9
102.7
7.8
0.44
0.38
0.29
0.20
0.01
0.12
0.05
0.06
Inc.
101.0
102.7
1.7
1.26
1.09
0.87
0.52
0.02
0.35
0.15
0.18
TK21-047
No significant values
TK21-048
8.9
16.4
7.5
0.11
0.09
0.07
0.04
0.01
0.01
0.00
0.00
Inc.
10.4
12.0
1.6
0.19
0.16
0.14
0.07
0.01
0.01
0.00
0.00
TK21-049
No significant values
TK21-050
124.8
130.0
5.2
0.95
0.82
0.74
0.31
0.01
0.20
0.10
0.10
Inc.
124.8
125.3
0.5
5.09
4.32
4.67
0.22
0.03
0.85
0.52
0.32
Inc.
128.9
129.3
0.4
4.88
4.24
3.34
2.47
0.05
0.98
0.51
0.46
TK21-051
No significant values
TK21-052
70.6
72.0
1.4
4.97
4.25
3.81
1.23
0.07
1.53
0.78
0.74
* Ni_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. No Metallurgical test work has been undertaken at Smoke Lake and therefore the
recoveries given here are estimates based off similar high-grade Ni-Cu deposits. A recovery of 80% Pd, 80% Pt, 80% Au, 95% Cu, 85% Ni and
80% Co are used in the Estimated Recovered Pd_Eq grade calculation.
Figure 5.
Plan Map of the Smoke Lake Zone showing Phase II drill holes TK21-044 to 052 and select
previous holes in italics.
To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/6502/105741_1bad31711491a8b2_005full.jpg
Figure 6.
Isometric view looking north, of all Smoke Lake drilling, and inverted high resolution drone
based magnetic isoshells.
To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/6502/105741_1bad31711491a8b2_006full.jpg
*Nickel Equivalent ("Ni_Eq")
Nickel and copper equivalent is calculated 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 US$20 per pound for Cobalt. This calculation is consistent with the commodity prices used
in the Company's September 2021 NI 43-101 Haukiaho resource estimate. No Metallurgical test work
has been undertaken at Smoke Lake and therefore the recoveries given here are estimates based off
similar high-grade Ni-Cu deposits. A recovery of 80% Pd, 80% Pt, 80% Au, 95% Cu, 85% Ni and 80%
Co are used in the Estimated Recovered Pd_Eq grade calculation.
QA/QC
The Phase II drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo.,
Vice President of Exploration and a director of the Company.
Drill core samples were split using a rock saw by Company staff, with half retained in the core box. The
drill core samples were transported by company staff the Company's core handling facility, to Actlabs
laboratory in Thunder Bay, Ontario. Actlabs, is an accredited lab and are ISO compliant (ISO 9001:2015,
ISO/IEC 17025:2017). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or
ICP-OES finish. Multi-element analyses, including copper and nickel were analysed by four acid
digestion using 0.5 grams with an ICP-MS or ICP-OES finish.
Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one
QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All
standards associated with the results in this press release were determined to be acceptable within the
defined limits of the standard used
About Tyko Ni-Cu-PGE Project
The Tyko Ni-Cu-PGE 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
10.1% 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.
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.palladiumone.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
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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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Information set forth in this press release may contain forward-looking statements. Forward-looking
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