- Palladium One (PDM) has returned the first intercepts from the Murtolampi exploration zone at its Lantinen Kollismaa project in Finland
- Notably, the company hit 87.2 metres at 1.43 grams per tonne palladium equivalent, including 20.2 metres grading at 2.26 grams per tonne palladium equivalent
- Further downhole, Palladium One hit a 35.8 metre strike that graded at 1.66 grams per tonne palladium equivalent, including 10 metres grading at 2.94 grams per tonne Palladium equivalent
- The company has linked the strong results in Murtolampi to the nearby Kaukau open pit mine
- Palladium One (PDM) is up 4.5 per cent and is trading at C$0.12 per share
Palladium One (PDM) has returned the first intercepts from the Murtolampi exploration zone at the Lantinen Kollismaa project in Finland.
The first drill sunk into the newly discovered exploration zone returned 87.2 metres of strike grading at 1.43 grams per tonne palladium equivalent.
Pleasingly, that strike started at just 5.8 metres downhole, giving the company hope for a speedy and cost-effective extraction, should the deposit ever advance to production. The 87-metre strike also included 20.2 metres that graded at 2.26 grams per tonne palladium equivalent.
Another intercept from the same drill pad hit 35.8 metre strike grading at 1.66 grams per tonne palladium equivalent from 7.2 metres downhole, which the company had to abandon at 43 metres down due to hole deviation. The intercept included 10 metres grading at 2.94 grams per tonne palladium equivalent, from 33 metres down.
President and CEO of Palladium One, Derrick Weyrauch, said the Murtolampi deposit was very close to the site’s Kaukua open pit deposit, which both show the potential to significantly add resource to the operation.
“Similar to Kaukau South, Murtolampi is associated with a strong induced polarisation chargeability anomaly that is not fully tested.
“The current drill program will continue to test both the Murtolampi and the Kaukau South IP changeability anomalies disco red earlier this year. We look forward to sharing further drill results with our shareholders in the near term,” he said.
Palladium One (PDM) is up 4.5 per cent and is trading at C$0.12 per share at 12:28pm EDT.