July 27, 2021
- Two Earn-in agreements expand the Tyko Nickel-Copper Project by 950 hectares
- Additionally, 3,500 hectares were purchased from the original Optionors of the Tyko Project.
- Tyko Nickel-Copper Project currently over 24,500 hectares
- 3,100-kilometer airborne Electro Magnetic (VTEMmax) geophysical survey completed
- Summer exploration field crews are onsite conducting reconnaissance mapping, prospecting and soil sampling. The first 1,000 soil samples have been sent for assaying, results pending
July 27, 2021 – Toronto, Ontario – The footprint of the Tyko Nickel-Copper Project, which returned drill intercepts from massive magmatic sulphide of up to 9.9% Nickel equivalent (“Ni_Eq”), (23.0% Copper equivalent, 30.1 g/t Gold equivalent*) over 3.8 meters in hole TK21-023 (Table 1) has been expanded by 4,400 hectares, said Palladium One Mining (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.
Tyko has grown from 20,100 hectares to over 24,500 hectares since the Phase II drill program was completed.
An option agreement with First Class Metals Ltd, for the Pickle Lake property, consists of 700 hectares located on the west side of the Tyko project and is proximal to the historic RJ zone which returned up to 1.2% Ni_Eq (2.78% Cu_Eq and 3.6g/t Au_Eq*) over 16.2 meters in hole TK16-002 (see news release April 12, 2016). A second option agreement for the Cupa Lake property with a local prospector consists of 250 hectares and is located 8km east of the Smoke Lake Zone.
President and CEO, Derrick Weyrauch commented, “Tyko continues to impress and warrants increased levels of expenditure and exploration. Results to date demonstrate robust mineralization spread over at least 18 kilometers, yet the area has seen virtually no government mapping or exploration. We believe that in addition to the high-grade Smoke Lake zone, there are new zones off nickel-copper mineralization yet to be discovered. We are awaiting result from the 3,100-kilometer airborne Electro Magnetic (VTEMmax) survey which will guide further exploration.”
200-square kilometer, VTEMmax survey
Geotech’s Versatile Time Domain Electromagnetic airborne system (VTEMmax) survey has been completed across the entire Tyko project. The survey comprised greater than 3,100-line kilometers of closely spaced (100-meter) flight lines. It is the most comprehensive and sensitive airborne geophysical survey ever flown on the Tyko property and covered large areas for which no airborne Electro Magnetic surveys had ever been flown, including the area surrounding the Shabotik showing, having up to 1.0% Nickel, see press release August 19, 2019.
Summer Field Program
Mapping, prospecting and soil sampling is well underway with 1,000 soil samples having already been submitted to the assay lab. This program is designed to ground truth historic and new geophysical anomalies. The vast majority of the Tyko project has seen little to no exploration, or even government mapping.
Figure 1. Tyko Project, with various historic total field magnetic surveys as the background. Newly acquired ground is shown in black hatched areas.