Palladium One Resumes Drilling at The Lantinen Koillismaa PGE-Cu-Ni Project in Finland
Palladium One Resumes Drilling at The
Lantinen Koillismaa PGE-Cu-Ni Project in
Finland
Vancouver, British Columbia--(Newsfile Corp. - July 14, 2020) -
Palladium One Mining Inc.
(
TSXV:
PDM) (FSE: 7N11) (OTC Pink: NKORF
) (the "
Company
" or "
Palladium One
") is pleased to report
that it is preparing to resume its drill program, in August, at the Läntinen Koillismaa ("LK") PGE-Cu-Ni
Project, located in north central Finland.
Initial drilling will be focused on expanding known mineralization
to the east of existing drill intercepts in the Kaukua South zone, which hosts a greater than four (4)
kilometer long Induced Polarization chargeability anomaly. (
Figure 1
)
In March 2020, the Phase 1 exploration program was suspended due to the COVID-19 pandemic (see
news release - March 24, 2020). Initiated in January 2020, the Phase 1 program completed several
tasks prior to being suspended, including:
85 kilometers of high-resolution 3D Induced Polarization (IP) survey, covering 12 kilometers (5-
survey grid areas) of the 38-kilometer favourable basal contact,
385 kilometers of high-resolution drone-based Magnetic (Mag) survey, covering 17 kilometers of
the favourable basal contact,
1,920 meters of a 5,000-meter planned diamond drilling program.
At the LK project, IP has proven very reliable in identifying PGE-Ni-Cu mineralization. During the winter
program, multiple new and significant IP chargeability anomalies were outlined - see below for highlights.
The high-resolution magnetic survey, which was also undertaken earlier this year, proved invaluable for
structural interpretation and in outlining prospective peridotitic rocks, which commonly host PGE-Cu-Ni
mineralization. Integration and 3D modelling of this data has produced numerous high-quality drill targets
for testing.
President and CEO, Derrick Weyrauch commented "
To date our exploration program has been very
successful.
We identified an abundance of large, high-quality drill targets throughout the LK project.
With the large number of excellent drill targets at hand, we are taking a very disciplined approach to
drilling prioritization
.
A prime example is Kaukua South (
Figure 1
.), when we began the winter program
this was an interesting but poorly understood zone. As multiple IP results demonstrated, we learned
that Kaukua South extends for over 4 kilometers of strike length, of which 3.5 kilometers has never
been drill tested. Considering that Kaukua South has known PGE-rich mineralization similar to the
Kaukua deposit, it will be a primary focus of our resumed drill program
".
Figure 1.
Plan view of the 2008 and 2020 (current) IP survey in the Kaukua Area. The 2008 IP survey
area is outlined in blue, while the 2020 survey is outlined in green. The Kaukua deposit's optimised
open pit is outlined by a dashed black line. The Kaukua deposit hosts 635,600 Pd_Eq ounces of
Indicated Resources grading 1.80 g/t Pd_Eq* ("palladium equivalent"), and 525,800 Pd_Eq ounces of
Inferred Resources grading 1.50 g/t Pd_Eq (see press release September 9, 2019). The newly
expanded Kaukua South Zone is outlined by a dashed orange line. The 2008 IP survey was
instrumental in identifying the Kaukua Deposit. Note that the 2008 survey used different equipment,
consisting of a 3-line 3D system, whereas the 2020 survey used a 5-line 3D system, as a result the
two surveys are not exactly comparable.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6502/59661_402812ef04ee28d8_001full.jpg
Highlights of Phase 1 Exploration Program Results, Before Suspension Due to COVID
IP Survey Grid #1 @ Kaukua South
(~400 meters south of the Kaukua deposit)
Discovered a chargeability anomaly over 4,000 meters long, including 3,500 meters which
has never been drill tested (
Figure 1
), (see news release -April 14, 2020).
Extending the known PGE-rich mineralization is a top priority when drilling resumes (e.g.
32.95m @ 1.05g/t PGE
(0.74g/t Pd, 0.24g/t Pt, 0.07g/t Au), and
0.17% Cu, 0.13% Ni
)
in
hole KAU08-035).
IP Survey Grid #2 @ Murtolampi
(~2,000 meters northeast of the Kaukua deposit)
Discovered a 750-meter long chargeability anomaly the core of which has never been drill
tested.
This anomaly is associated with high PGE prospecting samples collected in 2019 (e.g.
prospecting sample NP-LK-003 which returned
3.11g/t PGE
(1.86g/t Pd, 1.11 g/t Pt, 0.14 g/t
Au), and
0.78% Cu, 0.13% Ni
) (see news release August 12, 2019).
The anomaly is proximal to limited, shallow (~40-meter deep), historic drill holes having high
PGE values from the 1990's, that were never followed up with more drilling, (see news
release - March 10, 2020).
IP Survey Grid #3 @ Haukiaho
(~12,000 meters south of the Kaukua deposit and host to the
historic Haukiaho resource)
Discovered three new chargeability anomalies (see news release - May 7, 2020).
The western anomaly corresponds with the 2013 historic Haukiaho resource.
The central anomaly occurs underneath the bulk of the historic drilling in this area, suggesting
the best mineralization has not been tested.
The eastern anomaly is associated
with sparse shallow historic drilling and occurs
underneath 2019 prospecting sample NP-LK-002 which returned
0.96 g/t PGE
(0.18 g/t Pt,
0.56 g/t Pd, 0.21 g/t Au)
0.51% Cu, 0.33% Ni
(see news release August 12, 2019)
IP Survey Grid #4 @ Haukiaho East
(~7,500 meters east of the historic Haukiaho resource)
Discovered a 1,600-meter long chargeability anomaly (see news release - May 26, 2020)
The anomaly is coincident with a strong magnetic high suggesting peridotitic rocks, which
are characteristic of Haukiaho-style PGE-Ni-Cu mineralization.
IP Survey Grid #5 @ Tilsa
(~6,000 meters west of the historic Haukiaho resource)
Discovered a new 1,000-meter long chargeability anomaly (see news release - June 11,
2020).
The strongest part of the newly identified chargeability anomaly has never been drill tested.
The survey also identified two other parallel chargeability and magnetic anomalies possibly
representing fault repetitions of the favourable basal phase of the Koillismaa complex.
Diamond Drilling
The Company completed twelve (12) drill holes (1,920 meters), prior to the suspension of
drilling in March 2020, located in the following zones:
Kaukua Deposit Area, 6 holes.
Kaukua South Extension, 1 hole.
Murtolampi, 2 holes.
Haukiaho, 3 holes
All assay results are pending.
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 Läntinen Koillismaa ("LK") and Kostonjarvi ("KS")
PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-
Cu properties in Ontario, Canada. All projects are 100% owned and are of a district scale.
LK is an
advanced project targeting disseminated sulphide along 38 kilometers of favorable basal contact.
The KS project is targeting massive sulphide within a 20,000-hectare land package covering a
regional scale gravity and magnetic geophysical anomaly.
Tyko is a 13,000-hectare project targeting
disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 3,100-
hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive
Proterozoic mid-continent rift.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email:
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