March 17, 2022
- Murtolampi represents an at surface, satellite deposit opportunity located only 2 kilometers north of the 2019 NI43-101 Kaukua Open Pit Mineral Resource Estimate.
- 2.7 g/t Palladium Equivalent (Pd_Eq) over 5.7 meters within 2.1 g/t over 24.2 meters starting at a true depth of only 5 meters in hole LK21-137.
March 17, 2022 – Toronto, Ontario. Drill hole LK21-137 at Murtolampi, Finland intersected up to 2.7 g/t Pd_Eq over 5.7 meters, within 2.1 g/t Pd_Eq over 24.2 meters, starting at a true depth of 5 meters (Figure 1 and 2), said Palladium One Mining Inc. (“Palladium One” or the “Company”).
Derrick Weyrauch, President and CEO commented: “The Murtolampi zone has again delivered a high grade, at surface drill intercept, and represents a potentially valuable satellite open pit in the greater Kaukua Area. Additional regional exploration will be conducted in 2022 starting with an Induced Polarization (IP) survey which began this month on the far eastern portion of the Haukiaho Trend wherein the favourable marginal series changes orientation toward the north (see Figure 1]”
The Company drilled a total of 11 holes totalling 1,514 metres into the Murtolampi Zone, with values of up to 3.4 g/t Pd_Eq over 7.0 meters within 1.8 g/t Pd over 78.5 meters in hole LK21-026, (Figure 1 and 2, Table 1). see news release November 16, 2020. The Murtolampi zone is interpreted to be a faulted offset of the Kaukua trend and shares many similarities with Kaukua resource pit area. The Murtolampi zone has been traced over 600 meters of strike with a Core Zone of 350 meters. Murtolampi’s Core Zone is exposed on surface and represents a very low strip satellite open pit opportunity beside the main Kaukau open pit located only 2 kilometers to the south.
2022 Regional Exploration in Finland
The first phase of 2022 regional exploration program consists of a drone based magnetic and IP survey over the far eastern portion of the Haukiaho Trend, referred to as the Lota area (Figure 1). This portion of the favourable basal marginal series has received very little exploration compared to the rest of the property. Limited drilling by the Geological Survey of Finland (GTK) in the 1990’s returned narrow intervals up to 0.19% Ni and 0.31 g/t Pd in gabbroic and peridotitic rocks. Several boulders were also located by GTK down ice of the Lota area with anomalous PGE grades. The limited geological work to date indicates that not only does the marginal series turn north in this location but it also dips very shallowly to the west which would provide a very favourable geometry for open pit style mining.