Palladium One samples encouraging copper values at Tyko I, Ontario

Palladium One Inc. [TSXV-PDM; OTCQB-NKORF; FSE-7N11] reported soil sampling has identified up to 0.43% copper in soil from a new chonolith (magma conduit), newly named Blaze, thought to represent part of the plumbing system that fed the large Bulldozer mafic-ultramafic intrusion located along the northern portion of Palladium One Mining’s Tyko I property, which forms part of the larger Tyko Nickel-Copper Project in Ontario, Canada.

Highlights: The company’s geologic model has again been confirmed with a previously ‘interpreted’ chonolith target having been confirmed. The newly named Blaze chonolith is interpreted to be part of the feeder (magma conduit) system that emplaced the Bulldozer mafic-ultramafic intrusion at Tyko I.

Up to 0.43% copper in soil was discovered. Four samples contain greater than 0.1% copper and 24 samples are greater than 0.01% copper. As a frame of reference, any soil samples with greater than 0.005% copper are considering highly anomalous and merit follow up.

Sampling on the Cupa Lake target has expanded the previously discovered copper and nickel soil anomaly to a 1 km of strike length. In Q4 2023, 3,023 metres were drilled in 22 diamond drill holes on the Tyko projects.

“Confirmation of the Blaze chonolith is highly encouraging as it provides a significant target for the discovery of a copper deposit. The Bulldozer intrusion hosts abundant anomalous copper mineralization thereby suggesting that this chonolith may be a magma conduit thereby making it is a compelling drilling target. Following receipt of an exploration drill permit we plan to initiate a drilling program to test the target,” stated Derrick Weyrauch, President and CEO.

The 2023 drill program is complete with a total of 22 holes totalling 3,023 metres drilled on both the Tyko I and Tyko II properties. The program focused on the West Pickle Zone of Tyko I as well the newly acquired Feries-Moshkinabi mafic-ultramafic complex in the Tyko II property. Drilling at the West Pickle Zone was designed to be shallow and to test for near surface mineralization proximal to the soil anomalies previously reported. Deeper drill testing of the recently announced MagnetoTelluric (MT) geophysical anomaly (see news release October 30, 2023) that could connect West Pickle to the RJ Zone, 4 to 5 km to the east, and the Gionet Zone on Tyko II will require additional drill permits.

The 2023 ground truthing field program collected a total of 7,355 soil samples while additional work included prospecting and mapping extensive portions of Tyko for the first time. A total of 3,741 soil samples covering the central and western portion of the Tyko I property comprise this release. These areas included the McGill Lake zone, Blaze chonolith, Greenback, Ember Zone, and Cupa Lake targets. The geological mapping undertaken this year is highly valuable as it has provided the company with a much greater understanding of the Tyko Project geology for target generation.

The Blaze chonolith appears as an S-shape leading toward the Bulldozer mafic-ultramafic intrusion and appears to come to surface in both the north and south extremities where the associated magnetic anomaly is strongest and dives under cover in the central portion. The Bulldozer mafic-ultramafic intrusion hosts significant anomalous disseminated copper mineralization, with the Bulldozer Showing returning up to 3.34% Cu, 0.12% Ni, 0.24% Co, 0.38 g/t Pd, 0.08 g/t Pt in remobilized shear hosted sulphide.

The Greenback area located just to the southwest of the Blaze chonolith appears to be a remnant sliver of greenstone rocks, and has returned several Cu anomalies, and locally anomalous gold, this area may represent a volcanogenic sulphide (VMS) target.

The McGill Lake area also saw discovery success with several anomalous copper samples up to 1,100 ppm or 0.11% Cu that warrant additional investigation.

The Tyko Nickel-Copper-Cobalt Project is located approximately 65 km northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel-copper (2:1 ratio) project and with multiple mineralized zones spanning over a 20-km strike length and demonstrating the potential for a new greenfield nickel district.

Palladium One is targeting district scale, nickel-copper sulphide and platinum-group-element (PGE) deposits in Canada and Finland. The Lantinen Koillismaa (LK) Project in north-central Finland, is a PGE-copper-nickel project that has existing NI43-101 Mineral Resources, while both the Tyko and Canalask high-grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively.