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Palladium One Down Plunge Drilling Extends Broad Mineralized Zone at Kaukua South, Finland

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Palladium One Down Plunge Drilling Extends Broad Mineralized Zone at Kaukua South, Finland

 

 

 

 

 

Highlights

  • The deepest drill hole to date demonstrates continuity of high grades and significant widths at Kaukua South
  • 3.4 g/t Palladium Equivalent over 6.0 meters, within 1.9 g/t Palladium Equivalent over 60.3 meters, in hole LK21-091
  • 3.4 g/t Palladium Equivalent over 10.0 meters, within 1.7 g/t Palladium Equivalent over 62.9 meters, in hole LK21-098

 

Palladium One Mining Inc. (TSX-V: PDM) (FSE: 7N11) (OTCQB: NKORF) is pleased to announce that the deepest down plunge drill hole to date on the Kaukua South Zone, hole LK21-098, intersected 3.4 g/t Palladium Equivalent over 10.0 meters, within 1.7 g/t Pd_Eq over 62.9 meters, starting at 308 meters down hole (Figure 1, 2, and 3).

 

These drilling results extend the Kaukua South zone beyond 300 meters vertical depth and confirm that the high-grade core zones identified at surface extend to depth (Figure 1, and 3).

 

Derrick Weyrauch, President and CEO of Palladium One, commented: “Multiple, broad, high-grade conduits of mineralization exist within Kaukua South and extend to depth. We have extended the Kaukua South Zone from a depth of approximately 200 meters to beyond 300 meters, where it remains open for additional expansion.”

 

Initially drilling of Kaukua South was restricted to 200 meters in depth, but with the discovery of an Upper Zone of mineralization that could favourably reduce the strip ratio, the Company refocused its drill program to expand the core zone of both the existing Kaukua deposit and Kaukua South to a 300-meter depth. The batch of holes released herein confirms that not only does Kaukua South Zone extend to depth, but also proves continuity of wider and higher grade core zones.

 

Figure 1. Kaukua South Long Section. Having a drill data cut off date of September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21-098, the rest are pending. The long section covers only the western portion of Kaukua South which the Company is focused on bringing to an initial NI43-101 resource estimate. The long section is a vertical slice representing only the ~55° south dipping Lower Zone of Kaukua South. Intercepts are represented in both width (meters) and grade (Pd_Eq*) as well as gram*meters (grade*width).

 

Figure 2. Historic and current drilling in the Kaukua and Western portion of the Kaukau South area having a drill data cut off date of September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21-098, the rest are pending. Background is Induced Polarization Chargeability.

 

Figure 3. Cross sections A and B showing on Figure 2 Long section, and new results for holes LK21-091 and 098.

 

Table 1. LK Project Kaukua South Drill Hole Results

 

Hole From
(m)
To
(m)
Width
(m)
Pd_Eq
g/t*
PGE
(Pt+Pd+Au)
Pd
g/t
Pt
g/t
Au
g/t
Cu
%
Ni
%
Co
g/t
LK21-089 Upper Zone 26.9 51.0 24.1 0.56 0.13 0.08 0.02 0.04 0.07 0.08 64
Lower Zone 125.5 164.0 38.5 0.91 0.55 0.36 0.15 0.04 0.08 0.07 56
Inc. 129.7 138.8 9.2 1.34 0.75 0.46 0.23 0.07 0.13 0.12 80
And 152.5 154.0 1.5 2.07 1.51 1.04 0.37 0.11 0.17 0.11 61
LK21-090 Upper Zone 23.3 52.5 29.2 0.52 0.13 0.08 0.01 0.04 0.07 0.07 56
Inc. 30.5 33.0 2.6 0.83 0.29 0.20 0.03 0.06 0.05 0.13 77
Lower Zone 130.3 154.8 24.5 0.68 0.38 0.23 0.12 0.03 0.06 0.07 56
Inc. 147.0 154.8 7.8 1.14 0.74 0.45 0.24 0.05 0.09 0.09 66
LK21-091 Upper Zone 158.8 222.0 63.2 0.58 0.14 0.08 0.02 0.04 0.07 0.09 68
Inc 158.8 173.0 14.2 1.05 0.30 0.17 0.05 0.08 0.13 0.15 100
Inc 159.6 160.6 1.0 2.88 1.29 0.73 0.30 0.26 0.34 0.32 164
Lower Zone 266.7 327.0 60.3 1.92 1.15 0.78 0.28 0.10 0.18 0.16 82
Inc. 266.7 317.5 50.8 2.07 1.25 0.84 0.30 0.11 0.19 0.17 87
Inc. 299.0 317.5 18.5 2.48 1.65 1.13 0.40 0.11 0.21 0.18 78
Inc. 299.0 305.0 6.0 3.40 2.25 1.52 0.56 0.17 0.33 0.23 98
LK21-092 Upper Zone 84.0 166.0 82.0 0.58 0.13 0.07 0.02 0.04 0.07 0.09 75
Inc. 100.5 105.1 4.6 1.31 0.41 0.27 0.06 0.08 0.14 0.19 126
Lower 201.4 256.5 55.0 0.97 0.57 0.37 0.15 0.05 0.09 0.08 54
Inc. 201.4 214.8 13.4 1.50 0.71 0.45 0.18 0.08 0.18 0.16 82
LK21-093 Upper Zone 75.8 137.0 61.3 0.62 0.16 0.10 0.02 0.04 0.08 0.09 74
Inc. 106.5 112.0 5.5 1.01 0.34 0.26 0.02 0.05 0.11 0.13 96
Lower Zone 209.9 260.0 50.1 1.09 0.57 0.39 0.13 0.05 0.10 0.11 71
Inc. 209.9 218.8 8.9 1.77 1.01 0.68 0.25 0.09 0.18 0.15 90
LK21-094 Upper Zone 132.0 194.6 62.6 0.56 0.13 0.08 0.02 0.03 0.07 0.08 67
Inc. 132.0 140.2 8.2 1.40 0.38 0.23 0.06 0.09 0.23 0.18 116
Lower 272.5 289.0 16.5 0.95 0.47 0.31 0.12 0.04 0.10 0.10 54
LK21-095 Upper Zone 52.9 81.0 28.2 0.68 0.17 0.10 0.03 0.05 0.09 0.10 74
Inc 54.3 57.5 3.3 1.34 0.42 0.23 0.08 0.12 0.17 0.19 108
Lower Zone 225.0 232.0 7.0 0.76 0.40 0.27 0.10 0.03 0.07 0.08 55
Inc. 227.0 228.4 1.4 1.57 0.97 0.66 0.23 0.08 0.15 0.12 75
LK21-096 Upper Zone 86.0 108.6 22.6 0.90 0.26 0.15 0.05 0.06 0.09 0.13 94
Inc. 86.0 91.4 5.4 1.55 0.60 0.32 0.15 0.13 0.15 0.21 133
Lower 252.3 271.5 19.3 1.06 0.52 0.36 0.12 0.04 0.13 0.10 56
Inc. 261.0 265.0 4.0 1.79 1.01 0.72 0.23 0.06 0.22 0.15 66
LK21-097 Upper Zone 144.3 163.5 19.3 0.68 0.17 0.10 0.03 0.03 0.07 0.11 86
Inc. 151.9 156.0 4.2 1.12 0.38 0.26 0.09 0.03 0.08 0.17 108
Lower Zone 219.0 288.0 69.0 0.95 0.38 0.24 0.10 0.04 0.08 0.12 94
Inc. 227.5 254.4 26.9 1.21 0.57 0.36 0.14 0.06 0.12 0.13 97
Inc. 237.0 243.1 6.1 2.17 1.04 0.66 0.26 0.12 0.22 0.24 134
LK21-098 Upper Zone 229.0 269.3 40.3 0.77 0.20 0.12 0.03 0.05 0.09 0.12 77
Inc. 258.5 269.3 10.8 1.14 0.31 0.21 0.04 0.06 0.13 0.17 106
Lower Zone 307.6 370.5 62.9 1.70 1.11 0.76 0.27 0.09 0.15 0.12 63
Inc. 307.6 357.9 50.3 1.96 1.30 0.88 0.31 0.10 0.18 0.13 66
Inc. 319.5 338.5 19.0 2.89 1.99 1.37 0.46 0.15 0.25 0.19 83
Inc. 319.5 329.5 10.0 3.36 2.27 1.58 0.53 0.16 0.33 0.21 101
Inc. 319.5 322.5 3.0 3.96 2.78 2.01 0.64 0.12 0.36 0.23 107

 

* Pd_Eq calculated using in-situ values and 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, and $20/lb Co. Limited historical metallurgical work on the Kaukua deposits indicates final recoveries in the range of 73% Pd, 56% Pt, 78% Au, 91% Cu, and 48% Ni.

 

Palladium Equivalent

 

The Company is calculating Palladium equivalent using US$1,600 per ounce for palladium, US$1,100 per ounce for platinum, US$1,650 per ounce for gold, US$3.50 per pound for copper, US$7.50 per pound for nickel, and $20/b cobalt consistent with the calculation used in the Company’s September 2021 NI 43-101 Haukiaho Resource Estimate.

 

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 Mineral Resource.

 

Posted October 19, 2021

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