Palladium One Announces Highest Grade Drill Hole Yet in Finland | 2021-09-23 | Press Releases
4.1 g / t palladium equivalent over 24 meters, less than 2.1 g / t palladium equivalent over 112 meters at Kaukua South, LK Project, Finland
Toronto, Ontario – (Newsfile Corp. – September 23, 2021) – Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTC Pink: NKORF) (“Palladium One” or the “Company”) is pleased to announce the southern hole of Kaukua LK21-081 which intersected 4.07 g / t of palladium equivalent (“Pd_Eq”) over 24 meters, at less than 2.08 g / t Pd_Eq over 112 meters, from 171, 5 meters deep. This is the highest grade cross-width intercept that drilling has returned to date, in the Kaukua South area of the LK project in Finland (Table 1, Figure 1). In addition, deep drilling successfully extends areas of higher grade core at depth, as shown by hole LK21-080 which intersected 1.86 g / t Pd_Eq over 40.5 meters, including 2 , 95 g / t Pd_Eq over 3.0 meters from a depth of 229.5 meters. Several holes now show an increase in grade and widths at depth.
Derrick Weyrauch, President and CEO of Palladium One commented, “Our Kaukua South discovery continues to produce excellent results and demonstrates potential for higher grade core zones in the Kaukua region. We believe there are still several other higher grade core zones to be defined based on the significant number of drill targets yet to be tested. ”
Hole LK21-081 returned 234 grams * meters overtaking hole LK20-016, which returned 201 grams * meters (Table 1, Figures 1 and 2) shown in the October 22, 2021 press release. These holes are part of two parallel higher grade holes, plunging southwest, central areas (Figure 2), or shoots at Kaukua South. A similar central zone is found at the existing Kaukua deposit, where it occupies a linear depression in contact with the wall. These central zones may represent magmatic channels, in the marginal phase of the mafic-ultramafic complex of Koillismaa, which thermally eroded the rocks of the lower wall. Induced Polarization (“IP”) surveys have proven to be very effective in targeting these higher grade core zones, and two new potential zones have been identified to the west and east of the mineralization defined by drilling at. Kaukua South (Figure 1), see press release July 7, 2021.
Table 1. Drilling results for the LK Kaukua South project
|Hole||From (m)||To M)||Width (m)||Pd_Eq g / t *||Spot Cu_Eq g / t **||Spot Au_Eq g / t **||Pd g / t||Pt g / t||At g / t||Cu%||Ni%||Co ppm|
* Pd_Eq calculated using 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 Ni
** Spot Au_Eq and Cu_Eq are calculated for comparison purposes only, using recent prices, $ 2,300 / oz Pd, $ 1,000 / oz Pt, $ 1,800 / oz Au, $ 4.5 / lb Cu and $ 9.0 / lb Ni.
• The results in gray in italics have already been published (see press release October 22, 2020).
Figure 1. Historical and current drilling in the Kaukua and western part of the South Kaukau region with a drilling data cut-off date of September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21- 082, the rest is pending. The background is the chargeability of induced polarization (“IP”).
To view an improved version of Figure 1, please visit:
Figure 2. Long southern section of Kaukua. As the drilling data deadline is September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21-082, the rest is pending. The long section only covers the western part of Kaukua South which the Company is striving to bring to an initial NI43-101 resource estimate. The long section is a vertical slice representing only the area below ~ 55 ° south of Kaukua South. Interceptions are represented both in width (meters) and in grade (Pd_Eq *) as well as in grams * meters (grade * width).
To view an improved version of Figure 2, please visit:
Figure 3. Cross sections A and B through South Kaukua, looking west.
To view an improved version of Figure 3, please visit:
Revised Price Assumptions – The Company now calculates the palladium equivalent using US $ 1,600 per ounce for palladium, US $ 1,100 per ounce for platinum, US $ 1,650 per ounce for gold, 3 , US $ 50 per pound for copper and US $ 7.50 per pound for nickel, in accordance with the calculation used in the Company’s September 2021 NI 43-101 Haukiaho resource estimate.
Gold equivalent in cash
Palladium and gold spot equivalents are calculated using recent spot prices for comparison using US $ 2,300 per ounce for palladium, US $ 1,000 per ounce for platinum , US $ 1,800 per ounce for gold, US $ 4.5 per pound for copper and US $ 9.0 per pound for nickel.
The technical information contained in this press release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and Director of the Company and Qualified Person as defined by National Instrument 43- 101.
About Palladium One
Palladium One Mining Inc. is an exploration company targeting district-wide nickel-copper deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK project, a palladium-dominant platinum-copper-nickel group element project in north-central Finland, ranked by the Fraser Institute as one of the best countries in the world. for mining exploration and development. Exploration at LK is focused on targeting disseminated sulphides along 38 kilometers of favorable basal contact and the construction of an established NI 43-101 open pit mineral resource.
ON BEHALF OF THE BOARD
President and CEO, Director
For more information contact: Derrick Weyrauch, President and CEO
E-mail: [email protected]
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 includes “forward-looking information” which is subject to certain assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding the listing of the Company’s common shares on the TSX Venture Exchange are subject to all risks and uncertainties inherent in such events. Investors are cautioned that these statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. These forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause actual results to differ materially from those of forward-looking statements include regulatory measures and general business conditions. This forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set forth in the Company’s annual information form dated April 27, 2021 and filed under the Company profile on SEDAR at www. sedar.com. The Company does not undertake to update any forward-looking statements or forward-looking information, except as required by law. Investors are cautioned that these statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97365