April 6, 2021
April 6, 2021 – Toronto, Ontario – A 2,000-meter Phase II drilling program at the high-grade Smoke Lake nickel discovery, which returned up to 9.9% Ni_Eq over 3.8 meters from surface (see press release January 19, 2021), on the Tyko Sulphide-Nickel-Copper project in Ontario, Canada, has started, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today. In advance of drilling, in February 2021, detailed ground based Electromagnetic (“EM”) and Borehole Electromagnetic (“BHEM”) surveys were conducted to better define the conductors hosting the high-grade nickel mineralization.
EM and BHEM surveys conducted at Smoke Lake outlined two conductors, the deeper one was intersected by a single drill hole returning 6.3% Ni_Eq over 0.9 meters (see press release January 19, 2021) during the December 2020 drill program. This lower conductor extends beyond the EM survey grid to the northwest, where it remains open for extension.
“Given the very encouraging results at Smoke Lake, we have commissioned a 3,000-line kilometer, high-resolution airborne, Versatile Time-Domain Electromagnetic (VTEM™ Max) survey covering the entire Tyko Nickel-Copper Project, which includes the Bulldozer mafic-ultramafic Intrusion, the objective of which is the discovery of additional EM anomalies such as the Smoke Lake anomaly. The survey is expected to be flown in May 2021.” said Derrick Weyrauch, President and CEO
“In addition to the work conducted at Smoke Lake in Q1 2021, the Company also completed a short reconnaissance drill program of 1,233 meters in 5 drill holes and both EM and BHEM surveys on its Disraeli PGE-Ni-Cu project, located in Ontario, Canada and within the prolific mid-continental rift.
Significant cobalt bearing magnetite skarn mineralization was intersected. Notably, down hole geophysics outlined an off-hole conductor at the basement contact that may represent a mafic-ultramafic feeder system to the Disraeli Intrusion, which requires follow up.” said Weyrauch.
- A 2,000-meter Phase II drilling program on the Smoke Lake high-grade sulphide nickel discovery at the Tyko Sulphide Nickel Project has started.
- Ground based and borehole EM surveys have outlined two significant conductors at Smoke Lake, one of which extends beyond the survey area, where it remains open for extension.
- High-resolution drone based magnetic survey data suggests a larger magnetic body occurs at depth, below and to the northeast of the Smoke Lake discovery.
- 3,000-line kilometer airborne VTEM™ Max survey scheduled to be flown in May 2021 over the entire Tyko Sulphide-Nickel-Copper project.
- Disraeli project drilling intersects cobalt bearing magnetite skarn mineralization.