Palladium One Reports Reconnaissance Prospecting Returning 3.106 g/t PGE, 0.78% Cu, and 0.13% Ni at the LK Project, Finland
Palladium One Mining Inc.
Suite 550 - 800 West Pender St. | Vancouver, BC | Canada V6C 2V6
P-778 327 5799 | F-778.327.6675 | [email protected]
NEWS RELEASE TSX-V: PDM
FRA: 7N11
Palladium One Reports Reconnaissance Prospecting Returning 3.106 g/t
PGE, 0.78% Cu, and 0.13% Ni at the LK Project, Finland
August 12, 2019 – Vancouver, B ritish Columbia – Palladium One Mining Inc. (TSX-V: PDM ,
FRA: 7N11) (the "Company" or “Palladium One”) is pleased to announce that technical director, Neil
Pettigrew, recently completed a site visit and reconnaissance prospecting on the Company’s Lantinen
Koillismaa (LK) Project located in North Central Finland.
The new Palladium One team site visit, included the review of the geology of the entire Koillisma a
layered mafic-ultramafic complex (Figure 1), inspection of the LK project properties and historic drill
core. Successful meetings were also held with local municipal leaders and Finnish consultants who are
expected to have key roles in conducting future exploration programs. As part of this site visit, previously
identified high priority areas were also visited and reconnaissance surface samples were collected (Table
1). The sampling focused on two areas, Haukiaho and Murtolampi which are discussed in detail below.
Table 1. Reconnaissance Sampling
Sample No. Area Cu wt% Ni wt % Pt g/t Pd g/t Au g/t
PGE
(Pt+Pd+Au)
NP-LK-19-
001
Haukiaho East 0.23 0.16 0.095 0.295 0.135 0.525
NP-LK-19-
002
Haukiaho East 0.51 0.33 0.185 0.563 0.209 0.957
NP-LK-19-
003
Murtolampi 0.78 0.13 1.115 1.855 0.136 3.106
Haukiaho
Surface sampling conducted ~2 km east of the most recent (2013) historic Haukiaho resource1 returned up
to 0.51% Cu, 0.33% Ni and 0.957g/t PGE (Figure 1).
Palladium One Mining Inc.
Suite 550 - 800 West Pender St. | Vancouver, BC | Canada V6C 2V6
P-778 327 5799 | F-778.327.6675 | [email protected]
Figure 1
This sampling was undertaken in h istoric workings associated with a mini bulk sample collected by
Outokumpu in the 1960’s, which only tested for copper and nickel mineralization. That is, no PGE
analysis was conducted at that time. Historic drilling by Outokumpu included four nearby diamond drill
holes that also only analysed for copper and nickel mineralization and which returned up to 0.21% Cu,
0.20% Ni over 35.21m in hole R692 and 0.25% Cu, 0.14% Ni over 37.10m , including 0.43% Cu,
0.19% Ni over 11.89m in hole R609.
The most recent historic Haukiaho resource1 was completed by Finore Mining Inc. in 2013 and consisted
of 23.2 million inferred tonnes grading 0.21% Cu, 0.14% Ni, 0.13 g/t Pt, 0.31 g/t Pd, and 0.10 g/t Au
(0.53 g/t PGE) using a 0.1 g/t Pd cut off . This resource encompassed wid ely spaced drilling with a focus
on maximizing tonnage.
An earlier historic resource1 completed by Outokumpu in the 1980’s covering a larger area than the 2013
Finore resource (including the historic workings discussed above) was focused more on grade using a
0.7% Cueq cut -off (defined as Cu% + 2 x Ni%) and returned 7 million tonnes grading 0.38% Cu and
0.24% Ni (again, no PGEs analysis was performed).
These historic resources indicate that Haukiaho mineralization possesses pods/lenses of higher -grade
material and with focused drilling could result in a higher-grade 43-101 compliant resource being defined.
Palladium One Mining Inc.
Suite 550 - 800 West Pender St. | Vancouver, BC | Canada V6C 2V6
P-778 327 5799 | F-778.327.6675 | [email protected]
Murtolampi
Following up shallow historic drilling with encouraging PGE mineralization encountered by the Finish
Geological Survey (“GTK”), surface sampling was undertaken at the Murt olampi target and returned
0.78% Cu, 0.13% Ni, and 3.106 g/t PGE (Figure 1).
Murtolampie lies just 2.5 km northeast of the historic Kaukua resource and was last explored in the
1990s. The area was discovered by prospecting by Outokumpu in the early 1990s and in 1999 GTK
drilled a 200m long shallow (average less than 40m depth) fence of 6 diamond drill holes.
All GTK holes intersected PGE mineralization with up to 0.17% Cu, 0.10% Ni and 0.86g/t PGE over
30.15m, Including 0.21% Cu, 0.12% Ni and 1.01 g/t PGE over 19.0m in hole R369. Despite highly
encouraging initial results this area has never experienced any follow up work a nd is a high priority for
the Company as it possesses similar PGE-rich mineralization to the Kaukua area.
Independent NI 43-101 compliant resource estimate
The company is pleased to announce that Mining Plus UK Ltd. i s approaching completion of a new
independent National Instrument 43-101 compliant mineral resource estimate for the Kaukua deposit o f
the LK Project. Kaukua, currently hosts a historic (2013) resource1 Table 2.
Table 2. 2013 Historic Kaukua Resource Estimate1
Classification Cut-Off
(Pd g/t) Tonnes
Pd
g/t
Pt
g/t
Au
g/t Ni %
Cu
%
PGE
(Pd+Pt+Au) Pd (oz) Pt (oz)
Au
(oz)
Indicated 0.10
10,400,000
0.73
0.26
0.08
0.10
0.15 1.07
244,100
86,900
26,700
Inferred 0.10
13,200,000
0.63
0.22
0.06
0.10
0.13 0.91
267,400
93,400
25,500
Derrick Weyrauch, Interim President and CEO stated, “We are very encouraged by the reconnaissance
sampling that identified PGE mineralization ~2 km east of the historic Haukiaho deposit which supports
our conviction that Haukiaho not only extends to the we st, but also significantly to the east, making it
highly prospective for the definition of a significant open pit resource. Murtolampi is a high priority
target for the Company and we are extremely pleased with the excellent reconnaissance sample which
yielded 0.78% Cu, 0.13% Ni and 3.106 g/t PGE.”
Palladium One Mining Inc.
Suite 550 - 800 West Pender St. | Vancouver, BC | Canada V6C 2V6
P-778 327 5799 | F-778.327.6675 | [email protected]
About LK PGE-Cu-Ni project
The LK Project land package consists of a total of 2,480 hectares and comprises two exploration permit
renewals and seven exploration permit applications covering over 25 km of the prospective basal unit in
the Koillismaa layered mafic-ultramafic complex.
The Koillismaa Complex is part of a suite of Paleoproterozoic continental rift -related intrusions which are
highly prospective for PGE-Cu-Ni deposits such as the nearby Suhank o (Arctic Platinum) deposit located
90 km northwest of the LK Project. Suhanko hosts a SAMREC Code Compliant Measured and Indicated
resources of 5.4 million ounces of palladium grading 1.44 g/t Pd and 1.3 million ounces of platinum
grading 0.35 g/t Pt at a cut-off of 1.0g/t 2PGEAu as well as Inferred Resources of 4.4 million ounces of
palladium grading 1.50 g/t Pd and 1.1 million ounces of platinum grading 0.38 g/t Pt.
Qualified Person
Neil Pettigrew, P. Geo. a director of the Company and is the Qualified Person as defined by National
Instrument 43-101 and has reviewed and approved the technical information in this document.
About Palladium One:
Palladium One Mining Inc. is a 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.
ON BEHALF OF THE BOARD:
“Derrick Weyrauch”
Interim President & CEO, Director
For further information contact:
Derrick Weyrauch, Interim CEO
Email: [email protected]
Phone: 1-778-327-5799
1 Historic Resource Estimates
All resource estimates completed on the LK Project are now historic resource estimates and have not
been verified by the Company as a current mineral resource. Reliance should not be placed on those
estimates. They are provided for reference purposes only.
Data and technical information in this document is extracted from the NI 43 -101 technical report entitled
‘A Technical Report of the Läntinen Koillismaa Project, Finland for Nickel One Resources Inc.’, written
by Mining Plus Canada Consulting, dated No vember 17, 2017 and historical data and technical
Palladium One Mining Inc.
Suite 550 - 800 West Pender St. | Vancouver, BC | Canada V6C 2V6
P-778 327 5799 | F-778.327.6675 | [email protected]
information is extracted from the September 19, 2013 NI43 -101 technical report prepared for Finore
Mining Inc for the Läntinen Koillismaa Project, Finland , also written by Mining Plus.
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