January 11, 2022
- Widest ore grade intercept to date, intersected 250 meters southwest and down plunge of the current Kaukua Open Pit Mineral Resource Estimate (“MRE”).
- 2.1 g/t Palladium Equivalent (Pd_Eq) over 33.5 meters, within 1.6 g/t Pd_Eq over 121.1 meters, in hole LK21-105,with individual samples grading up to 16.0 g/t Pd_Eq over 0.6 meters.
- Three holes (LK21-101, 102 and 105), spread over 220-meters laterally, have all intersected the down plunge, high-grade ‘Core Zone’ of the current pit constrained Kaukua Open Pit.
- High-grade ‘Core Zone’ of the Kaukua Open Pit remains open to depth.
January 11, 2021 – Toronto, Ontario, Initial down plunge drilling, has intersected the widest ore-grade intercept to date, southwest of the 2019 open-pit constrained MRE of the Kaukua Deposit. Hole LK21-105 intersected 2.1 g/t Pd_Eq over 33.5 meters, within 1.6 g/t Pd_Eq over 121.1 meters, starting at a true depth of approximately 260 meters (Figure 2), said Palladium One Mining Inc. (“Palladium One” or the “Company”).
Derrick Weyrauch, President and CEO commented: “We have extended the ‘Core Zone’ of the Kaukua Deposit 250 beyond the current conceptual open-pit and hole LK21-105 is among the thickest intercepts to date within the Kaukua Deposit and adds significant tonnage to our existing resource endowment. The high-grade ‘Core Zone’ of the Kaukua Deposit remains open to the southwest for more expansion. An updated NI43-101 Mineral Resource Estimate is schedule for release in Q1 2022 and will incorporate these valuable results”
These drilling results extend a broad, >200-meter wide ‘core zone’ of mineralization 250-meters southwest of the existing conceptual open-pit, and it remains open for expansion (Figure 1 and 2, and 3). Importantly, the previous geological interpretations suggested that the Kaukua Deposit was cut-off by a northwest trending fault, occupying a distinct magnetic low and topographic lineament. Drilling has now demonstrated that the magnetic low is the result of a later cross cutting dyke (now referred to as the high-titanium gabbro dyke) and that the Kaukua Deposit remains open to the south. Significantly the high-grade ‘Core Zone’ of the Kaukua Deposit has been extended 250 meters to the southwest and we have encountered some of the thickest intercepts (>100m) to date within the deposit (see news release November 23, 2021).