Palladium One Mining’s Finnish project got highly optimistic estimates after diamond drill exploration
“Multiple discoveries of magmatic sulphide mineralization have been outlined, and preliminary indications are that Kaukua South could be several times the size of the Kaukua open-pit resource. This resource currently includes 526,000 palladium-equivalent ounces at a grade of 1.8 g/t in the indicated category and 636,000 palladium-equivalent ounces at a grade of 1.5 g/t in the inferred category”, said Palladium One Mining in a press release. The miner announced that initial visual results from the diamond drill exploration program at the Lantinen Koillismaa (LK) 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.
“Drilling has extended magmatic sulphide mineralization in Kaukua South more than 3 km east of hole LK20-006, which returned 63.4 metres at 1.88 g/t palladium-equivalent, within 166.7 metres of 1.16 g/t palladium-equivalent. Historic drilling returned 33 metres at 1.9 g/t palladium-equivalent (KAU-08-035), 600 metres west of LK20-006, thereby demonstrating a mineralized strike length of approximately 4 km,” the brief states.
In the view of Peter 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.
Lantinen Koillismaa is located in north-central Finland, approximately 40 km 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 24.9 sq. km and are divided into two groups, namely, the Kaukua Group consisting of the Kaukua and Murtolampi targets and the Haukiaho Group covering the Lipeavaara and Haukiaho targets; as well as Salmivaara, which represents the eastern and western extension of Haukiaho.