Palladium One Reports Highly Anomalous Nickel and Copper in Soil Sampling on the Tyko Ni-Cu-PGE Property, Canada
Palladium One Reports Highly Anomalous Nickel and
Copper in Soil Sampling on the Tyko Ni-Cu-PGE Property,
Canada
Vancouver, British Columbia--(Newsfile Corp. - January 27, 2020) -
Palladium One Mining Inc.
(
TSXV: PDM) (FSE: 7N11)
(OTC: NKORF
) (the "
Company
" or "
Palladium One
") is pleased to report that the Fall 2019 program has returned up to
238
ppm nickel and 108 ppm copper
in soils over the Smoke Lake airborne electro-magnetic (EM) anomaly on the Tyko Nickel-
Copper-PGE Property,
located near Marathon, Ontario, Canada.
"These soil values represent up to 22 times the background values for both nickel and copper, and as a result, have
confirmed The Smoke Lake airborne EM anomaly as a compelling drill target.
The clear nickel-copper-cobalt signature, in
soils slightly mobilized along historic glacial ice flow, from the EM anomaly suggests a classic geochemical response to
overburden covered nickel-copper-cobalt sulphides."
commented Derrick Weyrauch, President and CEO.
The Fall 2019 exploration program (see press release January 21, 2020) included reconnaissance B horizon soil sampling over
overburden covered, untested Mag (magnetic) and EM anomalies (
Figure 1
). The strongest among these was the airborne EM
anomaly found at Smoke Lake.
In 2016, the Company conducted a VLF survey over the Smoke Lake airborne EM anomaly, this survey successfully delineated
a north-south trending EM anomaly over at least 300m of strike length (
Figure 2
). Soil sampling in the Fall of 2019 along this
north-south trend produced two adjacent soil samples (
Figure 2
) with highly anomalous nickel-copper, and elevated cobalt
(
Table 1).
Table 1. Significant Smoke Lake Soil samples from the 2019 Fall Exploration Program
Sample
Ni ppm
Cu ppm
Co ppm
Sample 472040
238
108
10
Sample 472041
46
54
13
Average background
11
5
4
The Smoke Lake EM anomaly has never been drilled and now represents one of the highest priority targets on the Tyko project.
2020 Exploration Update for the palladium dominant, LK PGE-Ni-Cu project in Finland
SJ Geophysic's (see press release dated January 14, 2020) initiated survey activities last week and has nearly completed, the
first of five grids on the property.
Initial data interpretation results are anticipated shortly and will inform drill targets for the
upcoming drilling campaign.
The Company anticipates drilling to begin towards the end of February 2020.
Figure 1. Fall 2019 Sample Locations
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6502/51831_04ff59ecb4abbaac_001full.jpg
Figure 2. Smoke Lake 2016 VLF Survey and Fall 2019 Soil Sample Locations.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6502/51831_04ff59ecb4abbaac_002full.jpg
About Tyko Ni-Cu-PGE Project
The Tyko Ni-Cu-PGE project, is located ~65km northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide
tenor, nickel focused project with the most recent drill hole intercepts returning up to
1.06% Ni over 6.22 m including 4.71% Ni
over 0.87m
in hole TK-16-010 (see press release dated June 8, 2016).
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. is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets
consist of the Lantinen Koillismaa ("LK") PGE-Cu-Ni project, located in north-central Finland and the Tyko Ni-Cu-PGE
property, near Marathon, Ontario, Canada.
The Kaukua deposit of the LK project hosts
635,600 Pd_Eq ounces
of Indicated
Resources grading
1.80 g/t Pd_Eq*
("palladium equivalent") contained in 11 million tonnes (@ 0.81g/t Pd, 0.27g/t Pt, 0.09g/t Au, (1.17g/t PGE), 0.15% Cu &
0.09% Ni), and
525,800 Pd_Eq ounces of Inferred
Resources grading
1.50 g/t Pd_Eq
contained in 11 million tonnes (@
0.64g/t Pd, 0.20g/t Pt, 0.08g/t Au (0.92g/t PGE), 0.13% Cu, & 0.08% Ni), (see press release September 9, 2019). Kaukua is
open for expansion, while the Kaukua South, Murtolampi and Haukiaho mineralized zones require systematic exploration via
diamond drilling to follow up mineralized drill intercepts.
*Pd_Eq is calculated using the following metal prices (in USD) of $1,100/oz for Pd, $950/oz for Pt, $1,300/oz for Au, $6,614/t
for Cu and $15,432/t for Ni.
ON BEHALF OF THE BOARD:
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email:
Phone:
1-778-327-5799
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking statements:
Information set forth in this press release may contain forward-looking statements. Forward-
looking statements are statements that relate to future, not past events. In this context, forward-looking statements often
address a company's expected future business and financial performance, and often contain words such as "anticipate",
"believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or
"will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future
events, to be materially different from any future results, performance or achievements expressed or implied by such forward-
looking statements. Such factors include, among others, risks associated with project development; the need for additional
financing; operational risks associated with mining and mineral processing; fluctuations in gold and other commodity prices;
title matters; 6 environmental liability claims and insurance; reliance on key personnel; the absence of dividends;
competition; dilution; the volatility of our common share price and volume; and tax consequences to U.S. Shareholders.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements
are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and
opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking
statements.
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