Palladium One Mining Inc.
Palladium One Mining Inc.
- ISIN: CA69644D1087
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Nachricht vom 07.05.2020 | 12:30
Palladium One Identifies New Drill Targets on the Haukiaho Trend at LK PGE-Ni-Cu Project in Finland
DGAP-News: Palladium One Mining Inc.
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Vancouver, British Columbia--(Newsfile Corp. - May 7, 2020) - Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTC Pink: NKORF) (the "Company" or "Palladium One") is pleased to report that results from the Haukiaho Induced Polarization (IP) survey have outlined several new and large chargeability drill targets.
"It appears that the Haukiaho trend hosts significantly more mineralization than outlined in the historic 2013 Haukiaho resource estimate. The fact that we have two (2) large chargeability drill targets located immediately to the east of the historic resource suggests significant potential to outline additional mineralization along the Haukiaho Trend. As a result, not only do we plan to convert the 2013 historic resource into a current NI43-101 resource estimate following infill drilling, we have the opportunity to significantly expand mineralization to the east" commented Derrick Weyrauch, President and CEO
"The Haukiaho trend, east of the historic 2013 Haukiaho resource, has had very limited assaying for PGEs. Reconnaissance drilling by Outokumpu, dating back to the 1960's was only analysed for copper and nickel, yet clear evidence exists that PGEs are present along the contact. The combination of historic drilling paired with newly identified chargeability anomalies has provided several new high-quality drill targets." Commented Neil Pettigrew, Vice President Exploration
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Drone Magnetic Survey
The Haukiaho mineralization is closely tied to peridotitic rocks along the basal contact of the Koillismaa Complex. These rocks typically contain slightly more copper-nickel sulphide than the Kaukua-style mineralization, which is PGE (palladium, platinum, gold) dominant. Haukiaho rocks also contain abundant magnetite and the mineralized zone is easily traced by airborne magnetics. Therefore, the Company flew a 50-meter spaced high-resolution drone magnetic (Mag) survey over the Haukiaho grid (Figure 5). This survey has provided excellent detail and assisted in refining the geological model and drill hole targeting in the Haukiaho trend.
The combination of Haukiaho Mag and IP surveys has provided strong evidence suggesting that Haukiaho-type mineralization not only extends well to the east of the 2013 historic Haukiaho resource but that higher-grade pods also occur.
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Historic Haukiaho Resource Estimate
In 2013, Finore Mining Inc. completed a non-pit constrained NI43-101 historic resource estimate at Haukiaho (Figure 6). This resource encompassed widely spaced drilling with a focus on maximizing tonnage, not grade. An earlier historic resource completed by Outokumpu in the 1980's covering a much larger part of the Haukiaho trend was focused more on grade and used a 0.7% Cu_eq cut-off (defined as Cu% + 2 x Ni%) and returned 7 million tonnes grading 0.38% Cu and 0.24% Ni, however importantly, no PGE assays were conducted. As a result, based on the previous work conducted at Haukiaho, opportunity exists to increase grade and to increase known mineralization.
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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
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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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News Source: Newsfile
|Company:||Palladium One Mining Inc.|
|EQS News ID:||1038621|
|End of News||DGAP News Service|
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