Palladium One Mining (TSXV: PDM) received the approval from the Finnish Mining Authority for a ~20,000-hectare reservation, Kostonjarvi (KS), which is adjacent to the company’s flagship Läntinen Koillismaa project.
According to the Canadian firm, the KS reservation covers a large buried gravity and magnetic anomaly that is interpreted to represent a buried Feeder Dyke to the Koillismaa Complex which hosts the palladium-dominant Läntinen Koillismaa PGE-nickel-copper project.
Holding costs for KS are zero until the reservation is converted into an exploration permit
“While the LK and KS projects are contiguous, the targets are very different: The LK project is an open-pit style, with disseminated sulphide mineralization along the prospective basal unit of the Koillismaa complex, with similarities to Platreef-type deposits. Whereas the KS project target is underground, high-grade massive sulphide, in the feeder system (Feeder Dyke) of the Koillismaa Complex, similar to a Norlisk, or Voisey’s Bay type deposit,” Palladium One said in a press release.
The miner explained that KS is under-explored, notably where it connects to the Koillismaa Complex.
“The KS exploration targets are ‘traps’ in the Feeder Dyke with the potential to host massive sulphide accumulation,” the brief states. “The company now possesses two significant projects in Finland with potential for large mineralized systems with similarities to Platreef and Norilsk style deposits.”