TSX-V-listed explorer Palladium One Mining on Wednesday announced new results from the Phase 2 Tyko drill programme, at the Smoke Lake target of its Tyko nickel/copper project.
The results containing massive magmatic sulphide intercepts grade up to 10.2% nickel equivalent (23.7% copper-equivalent) over 1.7 m, within 7.4% nickel-equivalent (17.4% copper-equivalent) over 4.5 m.
These results are in addition to last week’s announcement of 9.5% nickel-equivalent (22.3% copper-equivalent) over 1.7 m, within 6.0% nickel-equivalent (13.9% copper-equivalent) over 5 m.
"Smoke Lake continues to deliver some of the highest sulphide nickel grades globally,” commented president and CEO Derrick Weyrauch.
He said Palladium One remained focused on finding the source of the remobilised massive sulphide mineralisation, which could be located in the large magnetic anomaly immediately below Smoke Lake.
Field crews have been mobilised and the summer exploration field season has started.
“We are cautiously optimistic that there could be additional Smoke Lake-type high grade nickel zones on the 200 km2 Tyko property."
Shares in Palladium One closed 15% higher on Wednesday at C$0.30 apiece.