BASE METALS

Smoke Lake delivers more high-grade nickel for Palladium One

'Some of highest … grades globally'

Staff reporter

This article is 4 years old. Images might not display.

Among the highlights, Palladium One reported 1.7m at 10.2% nickel-equivalent within 4.5m at 7.4% Ni-eq, from 5m depth.

It follows results including 1.7m at 9.5% Ni-eq or 22.3% copper-equivalent last week, also from Tyko's Smoke Lake zone.

The company said the most important result of its phase two drill programme was the strike length extension to 350m, combined with linking high-grade massive sulphide mineraliation between the upper conductor with the lower conductor.

It had expanded its 2021 exploration budget, for its LK project in Finland and Tyko, to C$11.5 million after raising $15 million in February at 29c per unit, 34c per flow-through unit and 40c per charity flow-through unit.

However "a significant drill breakdown combined with the onset of early spring conditions" forced the suspension of the drill programme at Tyko, Palladium One said yesterday.

It planned to resume drilling once an airborne EM survey and summer field programme had finished.

Drilling results from LK this month have included 48.5m at 2.15g/t palladium-equivalent within 116m at 1.2g/t Pd-eq.

Its shares (TSXV: PDM), which have spanned 8c-40c over the past year, closed up more than 15% to 30c to capitalise it at $72.4 million (US$58.9 million).

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

Investor Sentiment Insights 2026

Discover what investors have planned for mining in 2026 in our industry-leading survey

editions

World Risk Insights 2025 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 120 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.