March 18, 2021
March 18, 2021 – Toronto, Ontario – Drilling has returned significant PGE (Platinum Group Element) grades of 47 meters at 2.6 g/t Pd_Eq, including 12 meters at 4.2 g/t Pd_Eq. (Hole LK21-045), defining a high-grade core at Kaukua South on the Läntinen Koillismaa (“LK”) PGE-Ni-Cu project in Finland, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.
Thus far, 34 holes have been drilled as part of the 17,500-meter Phase II Resource Definition drill program at Kaukua South, including today’s results 22 have been released, while results for 12 holes are pending. Drilling has been strategically undertaken to define mineralization from surface to a depth of 200 metres, leaving mineralization open at depth, across the known 4-kilometer strike length of Kaukua South. In total 6,404-meters have been drilled to date as part of the Phase II program at Kaukua South, while an additional 860-meters (6 holes) of regional exploration has been undertaken.
Derrick Weyrauch, President and CEO of Palladium One said, “Drilling at Kaukua South continues to intersect impressive grades and widths, thereby proving up the known four-kilometer strike length of Kaukua South. Induced Polarization (IP) surveys have been started to expand the Kaukua South strike length by up to three kilometers. With robust drill results thus far and the potential to increase the Kaukua South strike length to seven kilometers we are optimistic that, in addition to our existing Kaukua National Instrument 43-101 pit constrained resource, a new multi-million ounce resource is well within our reach.”
“In addition to our Phase II Kaukua South drill program and to take advantage of winter drilling conditions, 2,000 meters (12 holes) were recently drilled on the Haukiaho zone. This drilling represents completion of the infill campaign that was launched in February 2020 and suspended in March 2020 due to Covid-19. The drill program was designed to provide additional data in advance of a NI43-101 resource estimate. Assay results are pending.” said Weyrauch.
- Drilling continues to demonstrate continuity of near surface open pit grades and widths at Kaukua South.
- Core zone of 11.6 meters grading 4.21 g/t Palladium equivalent (“Pd_Eq”) within 47.4 meters grading 2.59 g/t Pd_Eq. in hole LK21-045, starting 123 meters down hole.
- Core zone of 16.5 meters grading 2.52 g/t Pd_Eq, within 52.7 meters grading 1.53 g/t Pd_Eq in hole LK21-046, starting 66 meters down hole.
- 2,000 meters of drilling completed on the Haukiaho Zone to upgrade the historic resource to National Instrument 43-101 standards.
Kaukua South Infill Drilling
Kaukua South infill drilling continues to demonstrate consistent near surface open pit grades and widths. A total of 22 holes from the Phase II infill drill program on Kaukua South have now been released with intersections such as 53 meters at 2.1 g/t Pd_Eq, in hole LK20-028 (see press release January 18, 2021) and 33 metres grading 2.0 g/t Pd_Eq in hole LK20-034 (see news release March 11, 2021). These 22 holes cover approximately 1.3 kilometers of the Kaukua