Palladium One makes new nickel/copper discovery

28th March 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online


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TSX-V-listed Palladium One has announced the discovery of a new high-grade nickel/copper zone, about 3.5 km southwest of the Smoke Lake zone on the Tyko project, in Ontario.

"The discovery of another high-grade nickel/copper zone at Tyko further supports our thesis that we have a significant new nickel camp on our hands. The Ember zone exhibits many similarities to the nearby Smoke Lake zone and other high-grade nickel/copper zones on the Tyko project,” commented president and CEO Derrick Weyrauch in a statement.

He added that the Ember zone was adjacent to an extensive interpreted Chonolith, which was on strike with the Cupa Lake versatile time domain electromagnetic (VTEM)/soil anomalies, suggesting Ember might be part of much bigger mineralising system.

The Ember zone was first identified by a moderate two-line VTEM anomaly in 2021, reconnaissance soil sampling returned weakly anomalous nickel values up to 42 parts per million (ppm), and copper values up to 30 ppm. The weak geophysical and soil anomalies of the Ember zone resulted in it being drill tested during the fourth quarter.

The company noted that its discovery reinforced the notion that any VTEM anomaly, and even weak soil anomalies, could point to high-grade nickel/copper mineralisation on the Tyko project.

Some of the assay results include TK22-100 between 51.3 m and 56.6 m, which returned grades of 0.71% nickel and 0.85% copper. Between 53.3 m and 54.8 m over a width of 1.5 m, the hole yielded 2.01% nickel and 2.85% copper. TK22-104, between 32 m and 38.9 m, it delivered 1.07% nickel and 0.28% copper and between 35.7 m and 37.5 m, grades of 2.02% nickel and 0.36% copper.

The 2022 drill programme consisted of 70 holes totalling 13 038 m, of which 14 holes are pending assay results.

Edited by Creamer Media Reporter



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