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Palladium One Acquires the Canalask Nickel-Copper-PGE Project, Yukon, Canada
HIGHLIGHTS Numerous high-grade showings Strong potential for massive nickel sulphide m...
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[{"type":"text","content":"Palladium One Acquires the Canalask Nickel-Copper-PGE Project, Yukon, CanadaHIGHLIGHTSNumerous high-grade showingsStrong potential for massive nickel sulphide mineralizationHosts both magmatic Norilsk \"feeder type\" mineralization and epigenic \"footwall-type\" depositDrill ready targetsHistoric Mineral Resource Estimate, 400,000 tonnes at 1.35% nickelExcellent access from adjoining Alaska HighwayProximal to multiple communities Toronto, Ontario--(Newsfile Corp. - June 13, 2022) - Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) (the \"Company\" or \"Palladium One\") is pleased to announce the acquisition of the Canalask Nickel-Copper-PGE Project, located beside the Alaska Highway in Yukon, Canada (the \"Canalask Property\"), from Victoria Gold Corporation (the \"Vendor\").Palladium One's geological team, which is comprised of functional experts in sulphide nickel-copper-PGE deposits, has recognized another over-looked, under explored prospect. With a historical resource estimate dating back to 1968, a top nickel producer, Falconbridge Ltd., initiated exploration activities at Canalask in 2006, however, Xstrata plc's acquisition of Falconbridge in late 2006 curtailed exploration and the project has had limited exploration since then. The vendor, Victoria Gold, held the project since 2009 and focused its efforts on successfully bringing its Eagle Gold mine into production.The known occurrences at Canalask are hosted in the White River mafic-ultramafic complex, which hosts other nickel-PGE deposits including the past-producing Wellgreen mine. The prospective horizon extends for more than 10 kms on the newly acquired property.\"The Palladium One team recognizes that the area explored represents a small portion of what is clearly an extensive and highly prospective system capable of hosting a major deposit. Canalask complements the massive sulphide Tyko Project in Ontario, where exploration drilling is currently underway. With $14 million of cash on hand as at March 31, 2022, the Company remains well-funded to add value to its projects,\" commented Derrick Weyrauch, President and CEO.Transaction DetailsThe Canalask Property was acquired through a wholly-owned subsidiary of the Company and structured as an asset acquisition with consideration as follows:$25,000 shall be payable in cash on Closing.$200,000 shall be pa...