News
Palladium One drills 38 m of 2.1 g/t PdEq at LK 2021-05-11 07:17 ET - News Release Mr. Derrick Weyrauch reports PALLADIUM ONE INTERSECTS 2.1 G/T PD_EQ OVER 38 METERS IN THE LOWER ZONE AND EXPANDS THE UPPER ZONE AT KAUKUA SOUTH, FINLAND Palladium One Mining Inc.'s drilling continues to intersect impressive widths and grades of platinum group elements including 38 metres at 2.1 grams per tonne palladium equivalent (PdEq) (hole LK21-062) in the Lower zone at Kaukua South on the Lantinen Koillismaa (LK) PGE-Ni-Cu (platinum-group-element-nickel-copper) project in Finland. Drilling has also expanded the strike length of the Upper Zone having intersected robust mineralization which returned 51 meters @ 0.9 g/t Pd_Eq (Hole LK21-064). 46 holes (9,469 metres) have been drilled as part of the 17,500-meter Phase II Resource Definition drill program at Kaukua South, including today's results 34 have been released, while results for 12 holes await assays. Additionally, assay results are pending for 12 drill holes at the Haukiaho Zone, where the Company completed infill drilling in advance of a NI43-101 resource estimate. Drilling is currently in hiatus for the spring thaw and is schedule to resume in later May. When drilling resumes the intent is to target open pit resource definition of the Lower mineralized zone (down to 300 meters) on the western side of Kaukua South, and to extend mineralization immediately south of the existing Kaukua NI43-101 Open Pit constrained resource estimate. "Our understanding of an Upper Zone of mineralization continues to expand and so does our realization that it could add a significant amount of resources to the planned NI43-101 resource estimate. The Upper Zone lies in the hanging wall of the high-grade Lower Zone which has been the primary focus of the Phase II drill program. The Upper Zone's position could have a significant positive economic influence on the any future open pit scenario; and as evidenced by hole LK21-064 it can locally carry substantial grades," said Derrick Weyrauch, President and CEO. Highlights Results to date are highly encouraging and show a clear path toward a maiden open pit resource at Kaukua South. Drilling demonstrates significant continuity of open pit grades and widths in both the Upper and Lower Zones at Kaukua South. 2.06 g/t Pd_Eq over 37.9 meters in hole LK21-062 (Lower Zone) 1.22 g/t Pd_Eq over 70.5 meters in hole LK21-064 (Lower Zone) 0.92 g/t Pd_Eq over 50.6 meters in hole LK21-064 (Upper Zone) Drilling in Kaukua south has consistently returned grades and widths, over 2 kilometers of strike length, similar to those in the Kaukua NI43-101 Open Pit constrained resource estimated immediately to the northwest.