Canadian mining companies are among the most reputable in the world, and not just when it comes to the more glamorous metals like gold and silver.
Palladium concerns are making their presence felt these days, as the days of summer dwindle down. Vancouver-based Palladium One Mining Inc. (TSX-Venture: PDM) Tuesday reported the first diamond drill hole results to test the Murtolampi zone, located 2.5 kilometres ("km") north of the Kaukua Deposit, in Finland.
The company’s news release said, starting at 5.8 metres downhole, Hole LK20-012 intersected 87.2m @ 1.43 grams per ton Palladium Equivalent (g/t Pd_Eq) including 20.2 @ 2.26g/t Pd_Eq. Surface sampling by the Company, previously returned 4.9 g/t Pd_Eq (1.86 g/t Pd, 1.12 g/t Pt, 0.14 g/t gold, 0.78% copper & 0.13% Nickel).
CEO Derrick Weyrauch commented, "We have now shown that both Murtolampi and Kaukua South have the potential to significantly add to the existing NI 43-101 open pit resource at Kaukua. Similar to Kaukua South, Murtolampi is associated with a strong Induced Polarization ("IP") chargeability anomaly that is not fully tested. IP has proven to be an invaluable tool for outlining palladium-rich sulphide mineralization on the LK project, as evidenced by the success of Hole LK20-006 at Kaukua South.”
PDM shares moved toward mid-morning Tuesday up 9.2% to 9.41 cents, on volume of 42,000 shares.
