September 7, 2021
- Total Mineral Resource Estimates at the LK Project are now:
- 0.6 million ounces Palladium Equivalent (“Pd_Eq”) of Indicated Resources (1.60 g/t, 11 million tonnes).
- 1.7 million ounces Pd_Eq of Inferred Resources (1.19 g/t, 44 million tonnes).
- Haukiaho, NI43-101 Pit Constrained Resource Estimate announced.
- 1.21 million ounces Pd_Eq grading 1.15 g/t in 32.7 million tonnes.
- Shallow deposit with a low 1:1 strip ratio.
- Haukiaho is base metal-rich with two-thirds of the value in nickel and copper, whereas Kaukua is Platinum-Group-Elements (“PGE”) rich with two-thirds of the value in palladium and platinum.
- Resource estimate comprises 3-kilometers of strike length; part of the 17-kilometer long Haukiaho Trend.
- Two-kilometers of strike extent, immediately east of the Haukiaho Resource Estimate, contains two significant Induced Polarization (“IP”) chargeability anomalies with sufficient historical drilling to potentially be upgraded to Inferred Resources with modest additional drilling.
- Remaining twelve-kilometers of Haukiaho Trend has not been drill tested by the Company, however, widely spaced historic drilling has demonstrated that the trend is mineralized. This historic drilling provides a high level of confidence for potential additional nickel-copper resources to be delineated.
- Resource definition drilling for the Company’s primary focus area, Kaukua and the Western half of Kaukua South (“Kaukua Area”), has been completed.
- An updated Kaukua Area NI43-101 Resource Estimate is scheduled at year end.
September 7, 2021 – Toronto, Ontario – Resource definition drilling at the Kaukua Area has been completed and an updated National Instrument (“NI43-101”) compliant Mineral Resource Estimate is scheduled at year end (Figure 1). Without including an updated Mineral Resource Estimate at the Kaukua Area, today’s addition of a NI43-101 compliant Resource Estimate for the Haukiaho zone (Figure 2) has doubled the Company’s Mineral Resource endowment. The quality and scale of the Company’s overall resource potential at the LK Project continues to impress, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.
Derrick Weyrauch, President and CEO of Palladium One said, “In two short years LK has grown significantly, and we have the next Mineral Resource update at the Kaukua Area scheduled at year end. LK is clearly shaping up to be a globally significant project in a best-in-class mining jurisdiction. With Finland’s exceptionally well-designed mining and development laws and our existing resources, we believe that LK is well on its way to demonstrating the critical mass needed for a robust mining scenario. Based on the significant number of drill targets still to be tested, we see a tremendous amount of resource expansion potential remaining to be defined.”