Palladium One Mining Inc. [PDM-TSXV; NKORF-OTC; 7N1-FSE] reported final assay results for Kaukua South at the LK project with an intersection of 4.4 g/t palladium equivalent over 7.5 metres, within 2.6 g/t PdEq over 49.3 metres, in hole LK21-122, starting at 55 metres downhole.
Palladium One Mining is targeting district-scale, platinum-group-element-copper-nickel deposits in leading mining jurisdictions. Its flagship project is the 100%-owned Lantinen Koillismaa (LK) project in north-central Finland, which is ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. LK is a PGE-copper-nickel project that has existing mineral resources.
Derrick Weyrauch, president and CEO, commented: “Resource definition drilling on Kaukua South has again produced stellar grades and widths. New mineralized zones continue to be discovered, as demonstrated with reconnaissance drilling on the Far East IP anomaly, which returned Kaukua-style PGE-Cu-Ni mineralization having typical resource grades and widths. It is apparent that the Far East is the highest-priority area for resource expansion in the greater Kaukua area, which hosts an approximately six-kilometre-long mineralized strike length.”
All assay for the greater Kaukua area, with the exception of three holes in the satellite Murtolampi zone, have now been received. Resource modelling can now begin for the updated Kaukua mineral resource estimate, expected in the first quarter of 2022.
The Far East IP (induced polarization) anomaly was tested with two drill holes, which returned up to 1.5 g/t PdEq over 18.2 metres in hole LK21-031 in the Lower zone. Both holes also intersected the Upper zone, confirming the same stratigraphy found in Kaukua South. The Upper zone was also well mineralized returning 1.0 g/t PdEq over 12.0 metres in hole LK21-131. It is now apparent that the Far East IP anomaly is simply a continuation of Kaukua South, which has now been drill tested over 4.5 km and represents an excellent target for additional near-surface resource expansion. Refer to company press release for complete assays.
Drill pad location options for the Far East IP anomaly (holes LK21-130 and 131) were restricted due to the area’s tenure being an exploration permit application. Resource definition drilling of the Far East IP anomaly will require receipt of the exploration permit as the remaining target area is federally owned land and federal lands can only be drilled with an exploration permit.