Palladium One Step Out Hole Delivers Wide, High-Grade Mineralization at Kaukua South
Palladium One Step Out Hole Delivers Wide,
High-Grade Mineralization at Kaukua South
Toronto, Ontario--(Newsfile Corp. - October 6, 2020) - The first assay results from the resumed Phase I
drill program at the LK Project in Finland has retuned a wide zone, of shallow, high-grade palladium
mineralization in the Kaukua South Extension, said
Palladium One Mining Inc.
(TSXV: PDM) (FSE:
7N11) (OTC Pink: NKORF) ("Palladium One" or the "Company")
today.
Hole LK20-014 returned a
core zone of 72.0 m at 1.96 g/t palladium equivalent
(Pd_Eq)* within a
wider zone of 145.5m at
1.26 g/t Pd_Eq
.
Key highlights:
Continuity between holes LK20-006 and LK20-014 demonstrates potential
to rapidly add tonnes
and thereby scale to existing NI 43-101 resources.
Shallow mineralization developing at scale
within the Kaukua South Zone.
Starting at
only 13.5 meters downhole
, hole LK20-014 returned
145.5 m at 1.26 g/t Pd_Eq.
with a core zone of
72 m at 1.96 g/t Pd_Eq.
Hole LK20-014 is
100 m east of hole LK20-006
which returned
166.7 m at 1.27 g/t Pd_Eq
. with
a core zone of
63.4 m at 1.88 g/t Pd_Eq.
"
Results from the Kaukua South Zone continue to indicate that the Kaukua area hosts the footprint of
a large-scale, shallow, mineralized system displaying continuity
," said Derrick Weyrauch, President
and Chief Executive Officer.
Hole LK20-014 is
100 m
east
of hole LK20-006 (see
news release dated August 11, 2020
), which
returned nearly identical grades and widths (Table 1) and is
800 m east
of hole KAU-08-035, which
returned a core zone of
33 m at 1.90 g/t Pd_Eq
(Figure 1).
These consistent core intercepts validate the Company's thesis that there are more tonnes than initially
thought at Palladium One's LK Project in Finland. The shallow and high-grade core intercepts provide
the opportunity to significantly increase the existing NI 43-101 Kaukua open pit resource.
Phase 1 Drill Program Update
The Company continues to log and sample the drill core from the recently completed drilling program.
Fourteen holes totalling 2,566 m were completed during the resumed program in August and
September, bringing the total Phase I exploration drilling program to 26 holes totalling 4,490 m.
Table 1. Resumed Phase 1 Drill Results
Zone
Hole
From
(m)
To
(m)
Width
(m)
Pd_Eq
g/t*
PGE
g/t
(Pd+Pt
+Au)
Pd
g/t
Pt
g/t
Au
g/t
Cu
%
Ni
%
Kaukua
LK20-006
**
43.8
210.5
166.7
1.16
0.58
0.39
0.14
0.05
0.09
0.10
South
Upper Zone
43.8
62.0
18.3
1.27
0.33
0.21
0.05
0.07
0.13
0.16
Core Zone
95.0
158.4
63.4
1.88
1.06
0.72
0.26
0.08
0.13
0.14
Inc.
95.0
116.5
21.6
2.36
1.25
0.83
0.31
0.11
0.18
0.19
Lower Zone
188.5
210.5
22.0
1.50
0.87
0.60
0.20
0.07
0.11
0.10
Inc.
188.5
198.8
10.4
2.22
1.26
0.85
0.29
0.11
0.18
0.15
Zone
Hole
From
(m)
To
(m)
Width
(m)
Pd_Eq
g/t*
PGE
g/t
(Pd+Pt
+Au)
Pd
g/t
Pt
g/t
Au
g/t
Cu
%
Ni
%
Kaukua
LK20-014
13.5
159.0
145.5
1.28
0.53
0.35
0.13
0.06
0.11
0.13
South
Upper Zone
14.5
31.0
16.5
0.97
0.25
0.15
0.05
0.05
0.08
0.13
Core Zone
87.0
159.0
72.0
1.96
0.94
0.62
0.23
0.09
0.17
0.17
Inc.
96.2
151.0
54.8
2.20
1.09
0.72
0.27
0.10
0.20
0.18
Inc.
119.1
128.0
19.0
2.80
1.39
0.91
0.35
0.13
0.27
0.22
Inc.
119.1
122.0
3.0
4.35
2.24
1.46
0.54
0.23
0.46
0.31
** Includes 16.25m of unsampled core given a zero grade.
*** Reported widths are "drilled widths" not true widths.
***** Grey Italicised values are previously released (see press release August 11, 2020).
*Palladium Equivalent
Palladium equivalent (Pd_Eq) is calculated using US$1,100/oz for palladium, US$950/oz for platinum,
US$1,300/oz for gold, US$6,614/t for copper and US$15,432/t for nickel as used in the Company's
2019, 43-101 mineral resource estimate on the Kaukua Deposit (see press release September 9,
2019).
Figure 1
This figure shows the greater Kaukua Area, the NI 43-101 compliant Kaukua Open Pit resource,
Murtolampi and Kaukua South zones. The new drill defined three-kilometer eastern extension of the
Kaukua South zone is shown with the resumed Phase I drill holes labelled in red.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6502/65288_28b7f75e243988b2_001full.jpg
Figure 2
Kaukua South Long section showing IP Chargeability isoshells and down hole logged sulfide
percentages, resumed Phase I drill holes labelled in red.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6502/65288_28b7f75e243988b2_002full.jpg
Figure 3
Kaukua South cross section, looking west showing hole LK20-014.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6502/65288_28b7f75e243988b2_003full.jpg
QA/QC
The Phase I drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo.,
Vice President of Exploration and a director of the Company.
Drill core samples were split using a rock saw by Company staff, with half retained in the core box and
stored indoors in a secure facility, in Taivalkoski, Finland. The drill core samples were transported by
courier from the Company's core handling facility in Taivalkoski, Finland, to ALS Global ("ALS")
laboratory in Outokumpu, Finland. ALS, is an accredited lab and are ISO compliant (ISO 9001:2008,
ISO/IEC 17025:2005). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or
ICP-AES finish. Multi-element analyses, including copper and nickel were analysed by four acid
digestion using 0.25 grams with an ICP-AES finish.
Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one
QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All
standards associated with the results in this press release were determined to be acceptable within the
defined limits of the standard used.
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 an exploration company targeting district scale, platinum-group-element
(PGE)-copper-nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or
LK Project, a palladium-dominant platinum group element-copper-nickel project in north-central Finland,
ranked by the Fraser Institute as one of the world's top countries for mineral exploration and
development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of
favorable basal contact and building on an established NI 43-101 open pit resource.
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
statements are statements that relate to future, not past events. In this context, 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 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.
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