Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) (the “Company” or “Palladium One“) is pleased to announce that it has filed a Mineral Resource Estimate (“MRE”) in accordance with National Instrument 43-101 for the Läntinen Koillismaa (“LK”) PGE-Cu-Ni project, located in Finland. The report has an effective date of April 25, 2022 and is entitled “Technical Report on the Läntinen Koillismaa Project, Finland Report for NI 43-101” and was prepared by the Company under the supervision of SLR Consulting (Canada) Ltd. (formerly Roscoe, Postle Associates Inc.)
“Critical Minerals are building blocks for the clean energy transition economy and the MRE outlines four open pits containing Critical Minerals (Palladium, Platinum, Copper, Nickel and Cobalt). With the MRE outlining significant tonnage, we have the scale to assess possible mining scenarios. Advanced metallurgical testing has demonstrated consistently repeatable metallurgical recoveries and the ability to produce both a high-value copper and high-value nickel concentrate using a conventional flotation recovery process,” commented Derrick Weyrauch, President and CEO.
A copy of the technical report is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s web site at www.palladiumoneinc.com.
Highlights
In addition to the MRE which used US$1,700/oz palladium (Table 1a, 2b), a sensitivity analysis was completed with seven optimized open-pit constrained resource estimates, with palladium prices ranging from US$900/oz to US$2,500/oz (Table 2a, 2b).
Mineral Resource Estimate
- Indicated Resources: 1.1 Million ounces Total Precious Metals (Pd+Pt+Au) (“TMP”) (0.89 g/t), 111 Million Pounds Copper (0.13%), 92 Million Pounds Nickel (0.11%) and 5 Million Pounds Cobalt (65 g/t), contained in 38.2 million tonnes (see Table 1b).
- Inferred Resources: 1.1 Million ounces TMP (0.68 g/t), 173 Million Pounds Copper (0.16%), 152 Million Pounds Nickel (0.14%) and 8 Million Pounds Cobalt (74 g/t), contained in 49.7 million tonnes (see Table 1b).
- 44% of the MRE is in the Indicated category.
- Target Potential for an additional 22 to 36 million tonnes (see Table 3).
- In aggregate, there are 38 million tonnes of Indicated and 50 million tonnes of Inferred resources, thereby providing the opportunity for a large tonnage long-life mine to be developed.
- New Metallurgical testing demonstrates the potential for high value copper and nickel concentrates (Table 4), using conventional flotation techniques.
- The LK project contains several Critical Minerals that are needed Globally for reduced Green House Gas (“GHG”) Emissions and energy transition.
- LK possesses excellent infrastructure with paved roads, power, skilled labour and is less than 180 kilometers from the port of Oulu, thereby providing the opportunity for reduced initial capital cost.
Mineral Resource Estimate:
