Palladium One Mining Inc. [PDM-TSXV; NKORF-OTC; 7n1-FSE] reported drill results from its 100%-owned LK Project in north-central Finland. Hole LK20-016 has the best combination of grade and width of all the results from the LK project to date.
Located 1,350 metres east of the most westerly hole in Kaukua South, LK20-016, starting at only 23.5 metres downhole, returned 62.7 metres at 3.52 g/t palladium equivalent (PdEq), including 18.5 metres at 4.58 g/t PdEq.
In hole LK20-016, the core interval of 18.5 metres at 4.58 g/t PdEq starts near surface at 47.5 metres downhole. Hole LK20-019 started in mineralization and hit 35.0 metres at 2.76 g/t PdEq and also started near surface after 17.3 metres of overburden.
Holes LK20-016 and LK20-019 are 750 metres east of hole LK20-006 which returned 166.7 metres at 1.16 g/t PdEq, including 63.4 metres at 1.88 g/t PdEq.
Holes LK20-016 and LK20-019 are 1,350 metres east of hole KAU-08-035, which returned a core zone of 33.0 metres at 1.90 g/t PdEq.
Continuity between holes LK20-006 and LK20-016 demonstrates potential to rapidly add ounces, providing the opportunity to significantly increase the existing NI 43-101 Kaukua open-pit resource.
All holes drilled in the Kaukua South extension returned PGE-Ni-Cu (platinum-group-element-nickel-copper) mineralization and are open along strike and at depth.
“Of the 11 discovery holes drilled at Kaukua South, LK20-016 is the highest grade drilled to date. The robust intercepts strengthen our belief that there are many more ounces than initially thought at our LK Project. We look forward to receiving assay results for the remaining three exploration holes drilled at Murtolampi, only 2km north of Kaukua,” said Derrick Weyrauch, President and CEO.
Palladium One has confirmed PGE-Ni-Cu mineralization over 4km of strike length at the Kaukua South Zone which remains open laterally for expansion to the east, west and to depth.
Based on the positive results from Phase 1 drilling, a Phase 2 program is under consideration.