Vancouver, British Columbia–(Newsfile Corp. – June 11, 2020) – Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTC Pink: NKORF) (the “Company” or “Palladium One“) reports a new chargeability drill target on the Tilsa Induced Polarization (IP) survey grid on the Läntinen Koillismaa (“LK”) Project, in central Finland.
Highlights:
- The Tilsa IP survey grid is located six (6) kilometers west of the historic Haukiaho resource (see news release May 7, 2020) and covers one (1) kilometer of the three (3) kilometer strike length of the highly prospective Tilsa trend. (Figure 2)
- The survey has identified a consistent chargeability anomaly over the full extent of the grid, which appears to be strengthening to the northeast. (Figure 1 and 3)
- The survey also identified two other parallel chargeability and magnetic anomalies possibly representing fault repetitions of the favourable basal phase of the Koillismaa complex.
- Historical reconnaissance drilling, in 1999 by the Geological Survey of Finland (GTK), along the Tilsa trend returned up to 0.58g/t PGE (0.39g/t Pd, 0.13g/t Pt, 0.06g/t Au), 0.35% Cu, 0.29% Ni over 15.26m in hole R379.
- The strongest part of the newly identified chargeability anomaly has never been drill tested.
Figure 1. Plan view of the 2020 Tilsa IP survey showing chargeability, and historic drill traces.
To view an enhanced version of Figure 1, please visit:
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Preliminary Analysis:
- The three (3) kilometer long Tilsa trend appears to be a faulted block of the larger Haukiaho Trend.
- The metal ratios of the Tilsa PGE-Ni-Cu mineralization have strong similarities to Haukiaho-style mineralization.
- The chargeability anomalies are coincident with strong magnetic highs, suggesting peridotitic rocks, which are characteristic of Haukiaho-style PGE-Ni-Cu mineralization.
- The presence of closely spaced fault repetitions of the favourable basal phase at Tilsa is prospective for finding mineralization amenable to open pit mining.
Target Model:
- Large tonnage, near surface PGE-Ni-Cu mineralization amenable to open pit mining.
- Multiple higher-grade pods of PGE-Ni-Cu mineralization located in embayment structures along the basal contact of the Koillismaa Complex.
“These results represent another in a series of new, highly prospective, drill targets at the LK project. Today the geophysical program has shown the three (3) kilometer long Tilsa trend has potential to host significantly more mineralization than previously indicated. Most historic drilling was focused at the center of the trend, whereas the new IP survey clearly shows the chargeability anomaly increasing to the northeast, where there has been no drill testing.” commented Derrick Weyrauch, President and CEO
Figure 2. LK Project with IP survey grids (blue lines). Red circles represent the Kaukua NI 43-101 compliant resource estimate, and the 2013 historic Haukiaho resource estimate. Property outlines colours are based on the form legal status.
To view an enhanced version of Figure 2, please visit:
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Figure 3. Plan view of 2020 Tilsa 50m spaced drone total field magnetic survey.
To view an enhanced version of Figure 3, please visit:
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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 Lantinen 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 2,500-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: [email protected]
Phone: 1-778-327-5799
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 United States absent registration or an applicable exemption from registration.
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 statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements 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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