March 10, 2020 – Vancouver, British Columbia – Palladium One Mining Inc. (TSX-V: PDM, FRA: 7N11, OTC: NKORF) (the "Company" or “Palladium One”) reports that the second 2020 Induced Polarization (IP) survey grid, located at Murtolampi, two kilometres northeast of the Kaukua deposit, has successfully outlined a significant untested chargeability anomaly.
Substantially more extensive PGE-Cu-Ni mineralization is suggested at Murtolampi than was identified in the 1990’s by the Finnish Geological Survey (GTK) (Figure 1, 2 and 3). As illustrated in Figure 1, shallow (40m deep) historic diamond drilling by GTK, which ended in mineralization, did not intersect the most conductive portion of newly discovered anomaly.
The core of the Murtolampi chargeability anomaly extends over more than 750m of strike length, with a width ranging from 100 to 300m. and extends down to the maximum depth of the IP survey, being 300m. The six shallow GTK drill holes, conducted in the 1990’s, all intersected mineralization, but only tested the very outer edge of the newly discovered chargeability anomaly.
Prospecting by the Company in 2019 near these GTK holes produced 3.11g/t PGE (1.86g/t Pd, 1.11 g/t Pt, 0.14 g/t Au), 0.78% Cu, 0.13% Ni on surface (see press release August 12th 2019). The shallow drilling by GTK ended in mineralization with values up to 30.15m 0.86g/t PGE (0.52/t Pd, 0.28g/t Pt, 0.06g/t Au), 0.17% Cu, 0.10% Ni in hole R369. Until now, these historical results have not been followed up.
Figure 1. Cross Section looking west of the northern part of the Murtolampi chargeability anomaly.
“In addition to the Kaukua South anomaly that was discovered last month, our second 2020 IP survey grid has outlined another significant chargeability anomaly, this time at Murtolampi. Outlining two large chargeability anomalies extending outward from known PGE-Cu-Ni mineralization in our first two of five surveys, highlights the potential to significantly increase our existing NI 43-101 resources and the overall mineral endowment at our palladium dominant LK PGE-nickel-copper project in Finland.
Our 2020 drill program is well underway, we are nearing completion of planned drilling at Kaukua and plan to relocate the drill rig to Haukiaho shortly. Testing of the newly discovered chargeability anomaly at Murtolampi is planned to commence thereafter.” commented Derrick Weyrauch, President and CEO.
Figure 2. Plan view of the Murtolampi IP survey showing shallow historic GTK drill holes.
Figure 3. Long Section view, looking southwest of the Murtolampi Chargeability Anomaly.
The Murtolampi grid consists of 9 grid lines totalling approximately 6-line kms of IP.
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. is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa (“LK”) PGE-Cu-Ni project, located in north-central Finland and the Tyko Ni-Cu-PGE property, near Marathon, Ontario, Canada.
The Kaukua deposit of the LK project hosts 635,600 Pd_Eq ounces of Indicated Resources grading 1.80 g/t Pd_Eq* (“palladium equivalent”) contained in 11 million tonnes (@ 0.81g/t Pd, 0.27g/t Pt, 0.09g/t Au, (1.17g/t PGE), 0.15% Cu & 0.09% Ni), and 525,800 Pd_Eq ounces of Inferred Resources grading 1.50 g/t Pd_Eq contained in 11 million tonnes (@ 0.64g/t Pd, 0.20g/t Pt, 0.08g/t Au (0.92g/t PGE), 0.13% Cu, & 0.08% Ni), (see press release September 9, 2019). Kaukua is open for expansion, while the Kaukua South, Murtolampi and Haukiaho mineralized zones require systematic exploration via diamond drilling to follow up mineralized drill intercepts.
*Pd_Eq is calculated using the following metal prices (in USD) of $1,100/oz for Pd, $950/oz for Pt, $1,300/oz for Au, $6,614/t for Cu and $15,432/t for Ni.
ON BEHALF OF THE BOARD
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
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