Palladium One announced an updated mineral resource estimation for its LK PGE-Cu-Ni project in northern Finland. In the indicated category, the estimate amounts to: 1.1Moz TPM (Total Precious Metals, Pd+Pt+Au) @ 0.89g/t, 111million pounds of copper @ 0.13%, 92 million pounds nickel @ 0.11% and 5 million pounds of cobalt @ 65g/t, contained in 38.2 Mt.
In the inferred category, the estimate amounts to: 1.1Moz TPM @ 0.68g/t, 173 million pounds copper @ 0.16%, 152 million pounds Nickel @ 0.14% and 8 million pounds cobalt @ 74g/t, contained in 49.7 Mt.
Compared to previous estimates, this represents a 248% increase in indicated tonnes and a 14% increase in inferred tonnes. Currently, around 44% of the MRE is in the indicated category.
The company furthermore notes that metallurgical testing demonstrated the ability to produce high-value copper and nickel concentrates through conventional 3-stage flotation.
Importantly, the project remains open at depth and along strike, and both, the Kaukua and Haukiaho trends have the potential for multiple additional open pits. While exploration efforts to increase the size at LK are ongoing, the company also plans to advance a Preliminary Economic Assessment in 2022.
LK-project location map with exploration permits, permit applications and resources areas (red) (Source: www.palladiumoneinc.com)
