news
Palladium One drills 121 m of 1.6 g/t PdEq at LK
2022-01-11 06:58 ET - News Release
Mr. Derrick Weyrauch reports
PALLADIUM ONE INTERSECTS WIDEST INTERCEPT TO DATE SOUTHWEST OF THE KAUKUA OPEN PIT RESOURCE ESTIMATE, FINLAND, 1.6 G/T PD_EQ OVER 121 METERS
Palladium One Mining Inc.'s initial down-plunge drilling has intersected the widest ore-grade intercept to date southwest of the 2019 open-pit-constrained MRE (mineral resource estimate) of the Kaukua deposit. Hole LK21-105 intersected 2.1 g/t Pd_Eq over 33.5 meters, within 1.6 g/t Pd_Eq over 121.1 meters, starting at a true depth of approximately 260 meters (Figure 2), said Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) ("Palladium One" or the "Company").
Derrick Weyrauch, President and CEO, commented: "We have extended the 'Core Zone' of the Kaukua Deposit 250 beyond the current conceptual open-pit and hole LK21-105 is among the thickest intercepts to date within the Kaukua Deposit and adds significant tonnage to our existing resource endowment. The high-grade 'Core Zone' of the Kaukua Deposit remains open to the southwest for more expansion. An updated NI43-101 Mineral Resource Estimate is schedule for release in Q1 2022 and will incorporate these valuable results"
These drilling results extend a broad, >200-meter wide 'core zone' of mineralization 250-meters southwest of the existing conceptual open-pit, and it remains open for expansion (Figure 1 and 2, and 3). Importantly, the previous geological interpretations suggested that the Kaukua Deposit was cut-off by a northwest trending fault, occupying a distinct magnetic low and topographic lineament. Drilling has now demonstrated that the magnetic low is the result of a later cross cutting dyke (now referred to as the high-titanium gabbro dyke) and that the Kaukua Deposit remains open to the south. Significantly the high-grade 'Core Zone' of the Kaukua Deposit has been extended 250 meters to the southwest and we have encountered some of the thickest intercepts (>100m) to date within the deposit (see news release November 23, 2021).