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Palladium One Mining (TSXV: PDM) announced that initial visual results from the resumed diamond drill exploration program at the Läntinen Koillismaa property in Finland show that the project’s Kaukua South discovery is comprised of the same host rocks and indicates that it is the fault displaced extension of the Kaukua deposit.
In a press release, the miner said that multiple discoveries of magmatic sulphide mineralization have been outlined, and preliminary indications are that Kaukua South could be several times the size of the NI 43-101 Kaukua open-pit resource. This resource currently has 526,000 ounces of palladium equivalent ounces at 1.8 g/t in the indicated category and 636,000 ounces of palladium equivalent ounces at 1.5 g/t in the inferred category.
Drilling has extended magmatic sulphide mineralization in Kaukua South more than 3 kilometres east of hole LK20-006 which returned 63.4 m at 1.88 g/t palladium equivalent (Pd_Eq), within 166.7 m @ 1.16 g/t Pd_Eq
“Drilling has extended magmatic sulphide mineralization in Kaukua South more than 3 kilometres east of hole LK20-006 which returned 63.4 m at 1.88 g/t palladium equivalent (Pd_Eq), within 166.7 m @ 1.16 g/t Pd_Eq. Historic drilling returned 33 m at 1.9 g/t Pd_Eq (KAU-08-035) 600 m west of LK20-006, thereby demonstrating a mineralized strike length of approximately 4 kilometres,” the brief states.
In the view of Peter C. Lightfoot, one of Palladium One’s directors, the Kaukua South strike extension is exceptionally significant because it has shallow disseminated sulphide mineralization the same as Kaukua and points to the footprint of a large-scale mineral system.
“LK is shaping up to potentially be the largest palladium dominant open-pit project in a best in class mining jurisdiction, globally,” Lightfoot said.
Läntinen Koillismaa is located in north-central Finland, approximately 40 kilometres north of the town of Taivalkoski. According to Palladium One, the project area is covered by exploration permit renewals, new applications, and exploration reservation applications.
Exploration permit applications cover 2,485.3 hectares and are divided into two groups, namely, the Kaukua Group consisting of the Kaukua and Murtolampi targets and the Haukiaho Group covering the Lipeävaara and Haukiaho targets; as well as Salmivaara, which represents the eastern and western extension of Haukiaho.
