The most recent exploration release from Palladium One reports anomalous nickel, copper and cobalt in soil samples from the Smoke Lake anomaly at its 103-sq.-km Tyko property.
Assays include 238 parts per million (ppm) nickel, 108 ppm copper and 10 ppm cobalt in one sample as well as 46 ppm nickel, 54 ppm copper and 13 ppm cobalt in the second sample released.
“These soil values represent up to 22 times the background values for both nickel and copper, and as a result, have confirmed the Smoke Lake airborne EM anomaly as a compelling drill target,” Derrick Weyrauch, the company’s president and CEO said in a release. “The clear nickel-copper-cobalt signature, in soils slightly mobilized along historic glacial ice flow, from the EM anomaly suggests a classic geochemical response to overburden covered nickel-copper-cobalt sulphides.”
Last fall, the company sampled geophysical anomalies at Tyko, the strongest of which is Smoke Lake. Based on a survey completed over Smoke Lake in 2016, Palladium One traced an electromagnetic anomaly over 300 metres long. This undrilled area is now a high-priority target for the company.
Tyko is a high-sulphide tenor, nickel-focused project with past drilling and sampling also returning copper, platinum, palladium and gold values.
The company also plans to start drilling in late February at its Lantinen Koillismaa PGE-copper-nickel project in Finland with indicated resources of 11 million tonnes at 1.8 g/t palladium-equivalent for a total of 635,600 palladium-equivalent oz. and inferred resources of 11 million tonnes at 1.5 g/t Pd-eq for a total of 525,800 Pd-eq oz.
(This article first appeared in the Canadian Mining Journal)