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Palladium One Applies for an Additional 13 km of Prospective Basal Contact at the LK PGE-Ni-Cu Project in Finland
Vancouver, British Columbia--(Newsfile Corp. - September 5, 2019) - Palladium One Mining Inc....
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[{"type":"text","content":"Palladium One Applies for an Additional 13 km of Prospective Basal Contact at the LK PGE-Ni-Cu Project in FinlandVancouver, British Columbia--(Newsfile Corp. - September 5, 2019) - Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (the \"Company\" or \"Palladium One\") is pleased to announce that it has made application to expand the LK palladium-nickel-copper project by nearly 50%. With palladium metal prices having more than doubled over the past three years to roughly US$1,550 per ounce, the LK Project appears extremely compelling and therefore the Company is seeking to acquire the remaining adjacent high-potential ground, to maximize the ultimate size of the LK project. The Company has made applications for 2 Reservation Decisions, Haukiaho East and Lipeavaara, representing ~13 km's (totalling 1,174 hectares) of the favourable mafic-ultramafic basal contact of the Koillismaa Complex in north-central Finland, from the Mining Authority of Finland. These reservations could substantially add to the Company's existing project which already includes ~25km (~2,500-hectares) of favourable basal contact, of which less than 4km has been systematically drill tested. See Map 1. Map 1To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/6502/47538_67bdb9e8c448ca53_001full.jpgIf approved, the Company would control ~38 kms of the favourable basal contact horizon within a ~3,700 hectare property portfolio.The Haukiaho East reservation application includes 7 km of favourable basal contact on strike to the east of the historic Haukiaho resource and covers several highly anomalous mineralized intercepts from historic diamond drilling. Additionally, the reservation begins ~1 km east of the PGE-Ni-Cu mineralization identified via chip sample from the Haukiaho property reported on August 12, 2019 (see press release)The shallow reconnaissance diamond drilling by Outokumpu in the 1960s along this portion of the basal contact intersected highly anomalous Cu- Ni mineralization, such as 12.31 m of 0.23% Cu and 0.14% Ni in hole R666, however, no PGE analysis was performed. Later limited resampling of this drill core, undertaken by the Geological Survey of Finland (GTK), returned up to 0.65 Pd and 0.24 g/t Au (hole R666), no Pt analysis was performed. The Lipeavaara reservation application includes 6 km of ...