Palladium One drills 72.2 metres of 1.79 g/t PdEq at LK Project, Finland
Palladium One Mining Inc. [PDM-TSXV; NKORF-OTC; 7N1-FSE] reported the first drill results from its 2,000-metre drill program at Haukiaho, a zone approximately 20 km south of the company’s primary target area, Kaukua South, have returned significant widths and grades, including 72 metres at 1.8 g/t palladium equivalent (hole LK21-071), on the 100%-owned Lantinen Koillismaa (LK) PGE-Ni-Cu (platinum-group-element-nickel-copper) project in Finland.
A total of 12 holes (1,943 metres) were drilled on the Haukiaho trend. This release contains the results from the first seven holes of this program. The drilling was designed to establish sufficient drill density to prepare a National Instrument 43-101 resource estimate at Haukiaho, which the company anticipates completing in the third quarter of 2021.
“Establishing a NI 43-101 resource estimate at Haukiaho has been a priority for the company given the robust historical data set available to the company. Haukiaho was the original focus of the phase 1 drill program in 2020; however, the discovery of Kaukua South led us towards first defining the potential of this new discovery and exploring the greater Kaukua area. Despite this, Haukiaho was not forgotten and has remained an important part of our strategy to grow a multimillion-ounce resource base. At 17 kilometres in length, the Haukiaho trend, currently represents the largest continuous patch of blue-sky potential on the LK property,” said Derrick Weyrauch, president and CEO.
Highlights
Drilling has returned significant widths and grades and expanded higher-grade areas within the known historic Haukiaho resource area as well as expanded mineralization 100 metres to east of the historic resource.
Hole LK21-071 returned 72.2 metres grading 1.79 g/t palladium equivalent starting 56 metres downhole, including 17.0 metres grading 2.23 g/t PdEq; 15.7 metres grading 2.26 g/t PdEq in hole LK21-069, including 3.6 metres grading 3.11 g/t PdEq; 51.2 metres grading 1.07 g/t PdEq in hole LK21-073, including 9.1 metres grading 2.10 g/t PdEq.
The historic Haukiaho resource is shallowly drilled, mostly above 200 m in depth and therefore amendable to open-pit mining.