Palladium One Samples up to 1.0% Nickel, 2.4 g/t Palladium at Tyko II, Drill Program Continues on Tyko Ni - Cu Project
Palladium One Samples up to 1.0% Nickel, 2.4
g/t Palladium at Tyko II, Drill Program
Continues on Tyko Ni - Cu Project
Toronto, Ontario--(Newsfile Corp. - November 21, 2023) -
Palladium One Mining Inc.
(TSXV: PDM)
(OTCQB: NKORF) (FSE: 7N11)
(the "
Company
" or "
Palladium One
") reports initial soil and
prospecting results from the Fall 2023 exploration program on the Tyko II Property which forms part of
the larger Tyko Nickel - Copper Project in Ontario, Canada. Prospecting samples up to 1.0% nickel and
2.4 g/t palladium were collected from historic trenches, and soil sampling returned up to 3,380 parts per
million (ppm) or 0.34% copper and 321 ppm nickel, coincident with Versatile Time Domain
Electromagnetic ("VTEM") airborne anomalies (Figure 1 and 2).
Highlights
Grab Samples up to
1.04% nickel
,
0.22% copper
,
0.13% cobalt
,
2.42 g/t Pd
, 0.15 g/t Pt and
0.01 g/t Au from historic trenches on the
Kejimalda Zone
of the Feries-Moshkinabi mafic-
ultramafic complex.
Grab Samples up to
0.43% copper
,
0.18% cobalt
and 0.03% nickel from the
Gionet Zone
.
Soil Samples up to
3,380 ppm or 0.34% copper
, and
321 ppm nickel
from the
Gionet Zone
area coincident with a newly identified VTEM anomaly located east of the Gionet Zone.
The 2023 drill program has relocated to the Tyko II property and has been focused on the
Kejimalda Zone, targeting VTEM conductors along the base of the Feries-Moshkinabi mafic-
ultramafic complex.
President and CEO, Derrick Weyrauch commented, "The Gionet Zone is so far the standout on Tyko II,
having up to
0.34% copper in soils,
these are some of the highest copper in soil anomalies
encountered to date on the Tyko Project. The copper and nickel anomalies correlate with a newly
identified VTEM anomaly (a pathfinder to potential massive sulphide mineralization) that lies east of the
Gionet Zone and which we are eager to drill test along with the Cupa Lake area which also returned
highly anomalous soil values associated with a VTEM anomaly.
"While the discovery of more Canadian copper and nickel, both of which are Critical Minerals, is very
meaningful and provides the opportunity to define mineral resources to support the Energy Transition,
the Company continues to experience permitting delays. Both the Gionet Zone and Cupa Lake area
(see news release
October 28, 2021
and
May 11, 2022
) have produced important soil sampling and
geophysical results that merit prioritized drill testing, the Company is unable to drill test these zones due
to the permitting delays."
The 2023 ground truthing field program was extremely active with total of 7,355 soil samples collected
and extensive areas having been prospected and mapped for the first time. A total of 833 soil samples
on the Tyko II property are included in this update. The extensive geological mapping undertaken this
year provides the Company with a much greater understanding of the Tyko Project geology. The key
objective of the 2023 program was ground truthing interpreted Chonoliths / Feeder dykes prior to
diamond drilling and this activity was very successful.
With the field program complete the Company has
been focused on drill testing permitted drill targets.
The Gionet Zone Showing historically consists of boulders and subcrops of highly metamorphosed and
deformed bands of pyrite-chalcopyrite-rich mineralization in altered gabbro, with historic values up to
2.46% Cu and 0.22% Ni. Resampling of the historic showing by the Company has returned 0.43% Cu,
0.03% Ni, and interestingly 0.18% Co (Table 1). Notably, the 2023 VTEM survey indicated a conductive
anomaly to the east of the historic Gionet showing (see news release
September 28, 2023
), and this
year's field season also found a strong coincident Cu and Ni anomaly associated with this VTEM
anomaly (Figure 1), with copper values up to
3,380 ppm or 0.34% Cu and 321 ppm Ni
in soils. The
Gionet Zone has never been drilled tested and is a priority target once exploration permits are received
to enable drill testing.
The Kejimalda Zone is located near the base of the Moshkinabi Intrusion, which forms part of the Feries-
Moshkinabie mafic-ultramafic complex, where it is in contact with amphibolitized mafic volcanics and
metasediments including banded iron formation. The zone consists of a 3 kilometer long, 5 to 30-meter
wide lens or reef of disseminated copper-palladium-rich sulphide mineralization distant from but parallel
to the intrusive contact (Figure 2). Notably in addition to the disseminated mineralization, there occurs
near the intrusive contact discontinuous lenses of 1 to 3-meter wide pyrrhotite-rich semi-massive to
massive sulphide (Figure 3) which consistently carries ~1% Ni and ~2g/t Pd (Table 1.). The exact nature
of these massive sulphide lenses is obscured as a historical trench has been extensively blasted and
samples collected by the Company are from blast rock. The 2023 VTEM survey has identified several
conductors near the intrusive contact (see news release
September 28, 2023
) and these are the focus of
this current phase of the fall drill program.
The current drill program is designed to test targets in the West Pickle Zone of Tyko I (see news release
October 30, 2023
) as well the newly acquired Feries-Moshkinabi mafic ultramafic complex in the Tyko II
property (see news releases
September 11
and
September 28, 2023
).
Drilling at the West Pickle Zone
is designed to be shallow and to test for near surface mineralization proximal to the soil anomalies
previously reported, deeper drill testing of the recently announced MagnetoTelluric ("MT) geophysical
anomaly that appears to connect West Pickle to the RJ Zone, some 4 to 5 kilometers to the east, will
require an additional drill permit.
Figure 1.
Tyko II Property map showing the regional geology, mineralized zones, and recent soil
sampling and prospecting results from the summer field program, with detailed maps of the Cu and Ni
anomalies in the Gionet Zone.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6502/188118_figure1.jpg
Figure 2.
Figure showing Pd and Pt values from historic prospecting within the Kejimalda Zone, hosted
within the Feries-Moshkinabi Mafic-Ultramafic Complex. Image is modified from Ontario Assessment
File No. 42F03NW2002.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/6502/188118_ee3a2c55b472fa05_002full.jpg
Figure 3.
Nickel, PGE bearing massive sulphide samples from historic trenches from the Kejimalda
zone near the intrusive contact of the Moshkinabi intrusion.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/6502/188118_ee3a2c55b472fa05_003full.jpg
Table 1.
Select prospecting samples form Tyko II Property
NAD83 Z16
NAD83 Z16
Pd
Pt
Au
PGE
Ni
Cu
Co
Sample No
Zone
Easting
Northing
g/t
g/t
g/t
g/t
%
%
%
B1110358
Kejimalda
605,610
5,443,001
2.29
0.31
0.01
2.61
0.91
0.33
0.11
B1110359
Kejimalda
605,610
5,443,001
2.42
0.15
0.01
2.58
1.04
0.22
0.13
B1110360
Kejimalda
605,610
5,443,001
1.76
0.27
0.02
2.05
0.80
0.35
0.09
B1110361
Kejimalda
605,610
5,443,001
1.91
0.12
0.00
2.04
1.07
0.18
0.13
B1110362
Kejimalda
605,610
5,443,001
2.05
0.26
0.01
2.32
0.90
0.31
0.11
B1110363
Kejimalda
605,610
5,443,001
1.51
0.25
<0.01
1.76
1.15
0.13
0.13
B1110364
Kejimalda
605,610
5,443,001
2.32
0.16
0.01
2.49
0.93
0.37
0.12
B1110365
Kejimalda
605,592
5,443,018
2.14
0.73
0.01
2.88
1.03
0.17
0.11
B1110366
Kejimalda
605,610
5,443,001
2.59
0.36
0.03
2.98
0.65
13.10
0.08
B1307957
Gionet
599,743
5,439,583
0.01
<0.01
0.01
0.02
0.03
0.43
0.18
B1306551
Kejimalda
605,658
5,442,999
2.78
0.43
0.03
3.23
0.84
0.39
0.14
B1306552
Kejimalda
605,604
5,443,014
1.95
0.33
0.02
2.30
0.64
0.94
0.08
About Tyko Nickel - Copper - Cobalt Project
The Tyko Nickel - Copper - Cobalt 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 and with
multiple mineralized zones spanning over a 20-kilometer strike length and demonstrating the potential for
a new greenfield nickel district.
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
Critical Green Transportation Metals
. A Canadian mineral exploration and development
company, Palladium One is targeting district scale, nickel - copper sulphide and platinum-group-element
(PGE) deposits in Canada and Finland. The Läntinen Koillismaa (LK) Project in north-central Finland, is
a PGE-copper-nickel project that has existing NI43-101 Mineral Resources, while both the Tyko and
Canalask high-grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively.
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
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Information set forth in this press release may contain forward-looking statements. Forward-looking
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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 mineral and 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 the impact of
governmental entities. 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
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circumstances should change. Investors are cautioned against attributing undue certainty to forward-
looking statements.
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https://www.newsfilecorp.com/release/188118