TSX-V-listed Palladium One has expanded the Tyko nickel/copper district with the acquisition of the highly prospective Tyko II property, about 10 km north of Tyko I, in Ontario.
The Tyko II property was acquired through a combination of staking (47 claims, totalling 994 ha) and claim purchases (307 claims, totalling 7 627 ha) from local prospectors.
“The property expansion bolsters the company’s nickel/copper strategy in a premiere mining jurisdiction and specifically in a highly prospective, relatively unexplored region, where it now controls 38 130 ha,” says CEO Derrick Weyrauch.
Tyko II brings an additional pipeline of drill permitted magmatic copper/nickel sulphide targets.
“The Tyko II project has many geological similarities to Tyko I with several untested historic EM anomalies. Prior to our high-grade discovery, the Smoke Lake zone also began as an historic untested EM anomaly. Just like Tyko I, Tyko II has seen surprisingly little historic exploration or even government mapping,” he says.
Having completed the majority of the planned 2023 prospecting, mapping and soil sampling programme, Palladium One will begin drill testing new and existing targets in mid-October.
With C$14.5-million of cash on hand as of the end of the second quarter, the company is well financed for its planned activities.