Palladium One Reports Infill Drill Results Between the Kaukua Open Pit Resource and Kaukua South, Finland
Palladium One Reports Infill Drill Results
Between the Kaukua Open Pit Resource and
Kaukua South, Finland
Highlights
A third fault block, herein referred to as the Gap Zone, has been identified with additional
drill testing between the current Kaukua Open Pit Resource and the Kaukua South Zone.
This Gap Zone is an important area for future resource definition, as it could connect
Kaukua and Kaukua South into one larger, more efficient, Open Pit mine.
2.2 g/t Palladium Equivalent (Pd_Eq) over 4.4 meters, within 1.3 g/t Pd_Eq over 21.7
meters
, in hole LK21-109 in the Gap Zone.
1.7 g/t Pd_Eq over 6.3 meters, within 1.3 g/t over 27.8 meters
, in hole LK21-116 in the Gap
Zone.
1.8 g/t Pd_Eq over 17.0 meters, within 1.4 g/t over 53.1 meters
in hole LK21-117 in Kaukua
South.
Toronto, Ontario--(Newsfile Corp. - January 20, 2022) - Infill drilling in the Gap Zone has resulted in a
better understanding and a new geological model for the area. Gap Zone drill results include
2.2 g/t
Pd_Eq over 4.4 meters, within 1.3 g/t Pd_Eq over 21.6 meters
, in hole LK21-209 starting at 138
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: "We have made significant progress infilling the
area between the Kaukua Open Pit Resource and Kaukua South. Though Gap Zone mineralization is
thinner, it could play a significant role in joining Kaukua and Kaukua South into one larger and more
efficient Open Pit mine."
The Greater Kaukau area is now subdivided into three blocks separated by northeast trending faults
(Figure 1, 2 and 3), Kaukua Open Pit, Gap Zone, and Kaukua South. These blocks, though closely
related geologically, differ in their orientation, and thickness of mineralization. Kaukua Open Pit and
Kaukua South both dip to the south and possess core zones with thickness in excess of 100 meters,
whereas the Gap Zone, which dips west, demonstrates mineralization thicknesses in the 10-20 meter
range. All three fault blocks contain Upper Zone mineralization while the width separating the Upper and
Lower Zones varies in each fault block.
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 LK21-120, 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/6502/110870_e2ab3789b4123902_001full.jpg
Figure 2.
Cross sections showing holes LK21- 112, 113, 114, 117 and LK20-042 in Kaukua South and
Gap Zone.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6502/110870_e2ab3789b4123902_002full.jpg
Figure 3.
Inclined Isometric view looking north of the 3D geological model of the Greater Kaukua Area
showing the >0.3g/t Pd_Eq wireframe shell (purple) as well as major later dykes and faults separating
the Kaukua, Gap, and Kaukua South Zones.
All drill holes, historic and those drilled by the Company are
shown in black.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6502/110870_e2ab3789b4123902_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
LK21-109 Lower Zone
138.1
159.7
21.7
1.29
0.83
0.66
0.45
0.17
0.03
0.13
0.13
93
Inc.
138.1
142.5
4.4
2.20
1.39
1.04
0.71
0.28
0.05
0.19
0.26
145
LK21-110 Lower Zone
52.6
73.5
20.9
0.80
0.46
0.26
0.17
0.07
0.01
0.04
0.13
88
Inc.
60.6
62.6
2.0
1.59
1.01
0.67
0.43
0.19
0.06
0.17
0.19
105
LK21-111 Lower Zone
47.0
54.5
7.5
0.65
0.42
0.29
0.18
0.07
0.04
0.06
0.08
52
Inc.
47.0
48.1
1.1
1.35
0.85
0.62
0.40
0.17
0.05
0.12
0.16
91
LK21-112
NSA
LK21-113
NSA
LK21-114
NSA
LK21-115 Upper Zone
4.0
15.0
11.0
0.92
0.56
0.23
0.14
0.03
0.05
0.10
0.14
101
LK21-116 Upper Zone
4.0
15.5
11.5
0.84
0.51
0.20
0.12
0.03
0.05
0.09
0.13
95
Inc.
5.9
10.0
4.1
1.09
0.66
0.29
0.18
0.04
0.07
0.11
0.17
118
Lower Zone
200.0
227.8
27.8
1.29
0.82
0.59
0.40
0.15
0.04
0.12
0.15
94
Inc.
203.7
210.0
6.3
1.71
1.11
0.75
0.50
0.19
0.06
0.20
0.19
106
LK21-117 Upper Zone
157.0
164.0
7.1
1.27
0.81
0.46
0.27
0.12
0.08
0.16
0.16
98
Lower Zone
209.2
262.3
53.1
1.39
0.90
0.85
0.58
0.20
0.06
0.08
0.13
84
Inc.
225.5
262.3
36.8
1.55
1.02
1.04
0.72
0.25
0.08
0.10
0.12
80
Inc.
242.5
259.5
17.0
1.85
1.23
1.29
0.90
0.31
0.08
0.11
0.13
74
Inc.
242.5
245.0
2.5
2.96
2.03
2.16
1.54
0.50
0.12
0.25
0.16
80
LK21-118 Upper Zone
32.0
48.0
16.0
0.64
0.40
0.15
0.09
0.02
0.04
0.10
0.09
62
Lower Zone
103.7
126.0
22.3
1.19
0.77
0.63
0.41
0.17
0.05
0.10
0.12
82
Inc.
103.7
111.0
7.3
1.76
1.16
1.08
0.73
0.28
0.07
0.15
0.15
86
Inc.
106.0
111.0
5.0
1.95
1.30
1.33
0.90
0.35
0.08
0.14
0.14
77
LK21-119 Upper Zone
9.5
15.5
6.0
0.81
0.52
0.17
0.10
0.02
0.05
0.13
0.12
81
Lower Zone
110.0
154.5
44.5
0.90
0.55
0.34
0.21
0.08
0.05
0.08
0.12
90
Inc.
110.0
115.5
5.5
1.30
0.84
0.63
0.29
0.15
0.20
0.12
0.13
106
And
135.9
141.5
5.6
1.40
0.93
0.75
0.49
0.17
0.10
0.15
0.12
95
LK21-120 Upper Zone
109.5
132.1
22.6
0.72
0.43
0.18
0.10
0.03
0.04
0.07
0.11
92
Inc.
109.5
113.5
4.0
1.30
0.79
0.43
0.25
0.10
0.08
0.11
0.19
134
Lower Zone
235.4
249.5
14.2
1.71
1.16
1.25
0.86
0.31
0.08
0.12
0.10
63
Inc.
239.0
244.5
5.5
2.60
1.78
1.97
1.34
0.48
0.14
0.19
0.13
76
Inc.
239.0
241.5
2.5
3.39
2.32
2.58
1.75
0.67
0.16
0.26
0.17
98
* 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:
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.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States
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
United States absent registration or an applicable exemption from registration.
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 palladium and other commodity prices; title
matters; 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 Canadian and 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/110870