1,600-meter-long magneto-telluric resistivity anomaly at the West Pickle Zone implications for Palladium One Mining and First Class Metals

GT Resources Inc. has discovered a 1,600-meter-long magneto-telluric resistivity anomaly on the Tyko I Property, which forms part of the larger Tyko Nickle-Copper Project, located in Ontario, Canada (Figure 1).

Source: Palladium One Mining Inc.

This survey was the first deep penetrating geophysical survey to ever be conducted on the Tyko Project, and the results could have significant implications for both Palladium One and joint venture partner, First Class Metals PLC .

The Coincident Anomaly

The Magneto-Telluric resistivity anomaly is coincident with both the high-grade West Pickle Nickel-Copper Zone and RJ Zone, located to the east, suggesting that these two zones could form one continuous 1,600-meter-long mineralising system (Figure 2).

 Source: Palladium One Mining Inc.

Recent geological mapping has identified outcrops and boulders of ultramafic pyroxenites that further supports the chonolith / feeder dyke geological model for the area.

Initial drilling at West Pickle Lake in Q3 2022, returned high-grade intercepts of polymetallic nickel-copper mineralisation, with intercepts including:

• 3.7 meters at 2.3% Ni, 1.8% Cu, 0.09% Co, 0.21 g/t Pd, 0.21 g/t Pt, 0.03 g.t Au (TK-22-059)
• 12.6 meters at 0.7% Ni, 0.3% Cu, 0.02% Co, 0.06 g/t Pd, 0.06 g/t Pt, 0.02 g/t Au (TK-22-060)
• 2.3 meters of 10.41% Ni, 3.4% Cu, 0.14% Co, 0.53 g/t Pd, 0.34 g/t Pt, 0.04 g/t Au (TK-22-070)

District Scale Nickle-Copper Targets

Palladium One was awarded the 2020 “Bernie Schnieders Discovery of the Year Award” from the Northwestern Ontario Prospectors Association for the Smoke Lake discovery, which is located 20km east of the West Pickle Zone (Figure 1), highlighting this importance of the discovery of just one of these deposits.

At Smoke Lake, Palladium One defined massive sulphide over a 300 meters strike length with additional disseminated mineralisation over a further 450 meters.

The discovery of other areas of high-grade nickel-copper mineralisation at the West Pickle and RJ Zones, potentially over 1,600 meters, means that the Tyko Project is now evolving into a strategic district-scale sulphide nickel opportunity of huge potential value to Palladium One.

Implications for First Class Metals

As a 20% holder of the West Pickel Lake Project, First Class Metals’, has a minority but strategic, interest in a district-scale sulphide nickel opportunity, and can benefit from the advancement up the value chain of the wider Tyko Project, without having to fund the entire exploration budget for the larger project.

Drilling is now underway at the Tyko Project, with 5,000 meters planned to focus on targets in the West Pickle Zone of Tyko I, where First Class Metals has its 20% interest.

Disclaimer

This newsletter has been published by Mining and Metals Research Corporation (“the Company”). The information used to compile the article has been collected from publicly available sources and the Company cannot guarantee the 100% accuracy of those sources. This communication is intended for information purposes only and does not constitute an offer, recommendation, solicitation, to make any investments.  Nothing in this communication constitutes investment, legal accounting or tax advice, a personal recommendation for any specific investor. The Company do not accept liability for loss arising from the use of this communication. This communication is not directed to any person in any jurisdiction where, by reason of that person's nationality, residence or otherwise, such communications are prohibited.  The Company may derive fees from the production of this newsletter.