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Palladium One Drilling Confirms Multiple Chonolith-Feeder Dyke Structures and Discovers new Ni Mineralization at Tyko Ni - Cu ProjectHighlights
"Tyko's new nickel district geologic model continues to be confirmed with the 2023 drilling program. The discovery of an additional zone of high-grade nickel mineralization (hole TK23-128) at shallow depth is highly encouraging. Notably the MT anomaly extending east of the West Pickle Zone remains to be tested along with other priority targets, while additional exploration permits will be required in advance of drilling," stated Derrick Weyrauch, President and CEO. The 2023 drill program comprised 22 holes totalling 3,023 meters on both the Tyko I and Tyko II properties. The program included 12 holes targeting the West Pickle area of Tyko I which form this release. Drilling in the West Pickle area was designed to be shallow and to test for near surface mineralization proximal to soil anomalies previously reported. Deeper drill testing of the Magneto Telluric ("MT) geophysical anomaly (see news release October 30, 2023) that could connect West Pickle to the RJ Zone (four to five kilometers to the east), and the Gionet Zone on Tyko II (see news release November 21, 2023) will require additional exploration permits. The result of the drill program successfully intersected significant ultramafic rocks confirming the Chonolith / Feeder Dyke model. Two new large areas of ultramafic rocks were outlined confirming previous soil and geophysical anomalies. However, the amount of sulphide Ni-Cu mineralization intersected in drilling is less than suggested by nearby soil anomalies, indicating that additional mineralization exist and additional drilling is warranted. Future exploration plans include trenching, mapping and channel sampling to better understand the controls on this new mineralization followed by drill testing. The most significant result of the program was a new area of high-grade Ni-Cu mineralization intersected 1 kilometer northwest of the West Pickle Zone, in an area with significant Ni-Cu-PGE soil anomalies having up to 0.15% Ni, 0.27% Cu and 69 ppb Pd and 17 ppb Pt in soils (Figure 1 and 2). These anomalies were offset from the magnetic high suggesting more extensive non-magnetic ultramafic rocks in the area. Hole TK23-128 intersected sheared Ni-Cu sulphide mineralization in altered pyroxenitic rocks returning 0.4% Ni and 0.2% Cu over 2.7 meters including 1.0% Ni and 0.4% Cu over 0.9 meters (Figure 1 and 2). Two holes tested Maxwell plates modelled form Borehole Electromagnetic ("BHEM") surveys on the West Pickle Zone (Figure 1 and 2). Hole TK22-133 did not intersect any mineralization or ultramafic rocks, the source of the Maxwell plate remains unexplained. Hole TK23-134 intersected the modelled Maxwell plate returning 1.8% Ni and 1.0% Cu over 1.5 meters. The West Pickle Zone horizon remains open to both the east and west.
About Tyko Nickel - Copper - Cobalt Project Qualified Person About Palladium One ON BEHALF OF THE BOARD For further information contact: Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in mineral and commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and the impact of governmental entities. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements Appendix A Table 1: Assay Results: Tyko 2023 Drill Results from the West Pickle Area of Tyko I Property
Table 2: Drill Hole Locations for assay results from this News Release
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196438
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