Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) (the “Company” or “Palladium One”) is pleased to report additional high-grade drillhole intercepts for the Tyko Property, from the West Pickle massive sulphide discovery in Ontario, Canada.
– Additional West Pickle Zone assay results include:
— 7.2% Ni, 2.0% Cu, 0.10% Co, 0.56 g/t Total Precious Metals (“TPM”) (Pt+Pd+Au) over 2.6 meters of massive sulphides in hole TK-22-073
—- Including 10.3% Ni, 2.9% Cu, 0.15% Co, 0.80 g/t TPM over 1.8 meters
— 2.0% Ni, 0.9% Cu, 0.04% Co, 0.36 g/t Total Precious Metals (“TPM”) (Pt+Pd+Au) over 4.1 meters of massive and semi-massive sulphides in hole TK-22-072
—- Including 5.3 Ni%, 1.5% Cu, 0.12% Co, 0.67 g/t TPM over 1.5 meters
– RJ Zone, 2.7 kilometres east of West Pickle, previously retuned 85.4 meters of mineralization:
— 0.5% Ni and 0.2% Cu over 85.4 meters in hole TK-16-002 (see press release June 8, 2016)
—- Including 1.0% Ni and 0.2% Cu over 16.2 meters
– A key objective of the 2023 exploration program is to connect the West Pickle and RJ Zones (Figure 3)
– The Tyko Project currently hosts five known nickel sulphide zones along a 20-kilometer trend and several yet to be tested Versatile Time Domain Electromagnetic (“VTEM”) anomalies
President and CEO Derrick Weyrauch commented, “This latest batch of drill results, with individual assays up to 11.9% nickel, continue to reinforce the high-grade nature of the West Pickle Zone within the larger regional opportunity provided by the project. Similar to the Smoke Lake Zone, West Pickle is revealing massive sulphides that have been likely remobilized from a much larger source, which we hope to discover in 2023. Our 2023 exploration plan at Tyko also includes step-out drilling from known mineralization, and regional exploration to refine drill targets along 10’s of kilometers of interpreted feeder dykes / chonoliths (Figure 2 & 3) that could have fed the large Bulldozer mafic-ultramafic complex.
Cash and cash equivalents of approximately C$11.3 million (unaudited) were on hand as at December 31, 2022.
The 2022 Drill program on Tyko consisted of 70 holes totaling 13,038 meters, of which 49 holes are pending assay results. The 2023 field season is currently being planned and a high-resolution magnetic survey is scheduled in Q1. This survey has been designed to refine the geometry of the interpreted feeder dykes / chonoliths across Tyko’s 30-kilometer strike length prior to additional drill testing.”
To date a total of 32 holes, totalling 6,766 meters have been drilled in the vicinity of the West Pickle Discovery. At present, West Pickle mineralization has been defined over more than 500 meters of strike length (Figure 3 and 4).
Figure 1. Massive pentlandite-pyrrhotite-chalcopyrite sulphide intersection in hole TK-22-073 from 137.5 to 139.3 meters down hole (core is dry). Wall rock is tonalite breccia.
Figure 2. Tyko Property map showing various mineralized zones and multi-line VTEM anomalies, background is Calculated Vertical Gradient Magnetics (“CVG”).
Figure 3. Plan and long section looking north perpendicular to the interpreted chonolith structure linking the West Pickle and RJ zones, showing potential for massive sulphide mineralization beyond the depth detectable by the 2021 VTEM airborne survey.
Figure 4. Long section looking south of the West Pickle Zone.
Table 1: Assay Results: Tyko 2022 Drill Results from the new West Pickle Zone
(1) Reported widths are “drilled widths” not true widths.
(2) Italicised grey shaded values are previously reported (see news release October 4, 2022, November 21, 2022 and November 29, 2022)
Table 2: Drill Hole Locations
The drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration, and a Director of the Company
Drill core samples were split using a rock saw by Company staff, with half retained in the core box and stored onsite at the Tyko exploration camp core yard facility.
Samples were transported in secure bags directly from the logging facility at the onsite exploration camp, to the Activation Laboratories Ltd. (“Actlabs”) in Thunder Bay, Ontario. Actlabs, which is ISO 17025 accredited with CAN-P-1579 (Mineral Lab). In addition to ISO 17025 accreditation, Actlabs is accredited/certified to ISO 9001:2015. All samples are crushed to 2 millimeters with a 250-gram split pulverized to 105 microns. Analysis for PGEs is performed using a 30 grams fire assay with an ICP-OES finish and for Ni, Cu, and Co using 0.25 grams by 4 acid digestion with ICP-OES finish. Ni, Cu and Co samples over 1.0 wt% were re-analysed by ore grade methods using 4 acid digestion with ICP-OES finish.
Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance within the defined limits of the standard used before being released to the public.
About Tyko Copper-Nickel-Cobalt Project
The Tyko Copper-Nickel-Cobalt Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel-copper (2:1 ratio) project. The West Pickle Zone occurs on the Pezim II claim block of the larger Tyko Project.
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. (TSXV: PDM) is focused on discovering environmentally and socially conscious Metals for Green Transportation. A Canadian mineral exploration and development company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel 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. Follow Palladium One on LinkedIn, Twitter, and at www.palladiumoneinc.com.
ON BEHALF OF THE BOARD
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
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