NKORF - Palladium One Mining Inc. (NKORF)(PDM:CA) - Recent IP Surveys Yield Positive Implications for LK Project Resource Potential

IP surveys underscore Kaukua South resource potential. Results from two recent induced polarization (IP) surveys confirmed an increase in the Kaukua South IP chargeability anomaly to over 7 kilometers in strike length from the initial 4 kilometer area where drilling has returned impressive drill results and confirmed mineralization. The anomaly has been extended northwest and to the south of the Kaukua pit-constrained resource offering the potential for an expanded Kaukua open pit.Putting it into perspective. An existing NI 43-101 compliant Kaukua pit constrained resource of 635,600 ounces of indicated palladium equivalent resources and 525,800 inferred palladium equivalent resources only covers a strike length of 1 kilometer. The western grid survey indicated there may be an opportunity to significantly widen the existing Kaukua Pit, and the detection of a significant anomaly to the west of a fault that was thought to cut off the Kaukua Resource Pit may represent discovery potential that could support an underground PGE-NI-Cu mine. The eastern grid survey revealed a strong chargeability anomaly which could represent another high-grade zone.Climbing palladium prices show no signs of retreat. Year-to-date through July 7, palladium futures prices rose 16.1% to $2,851 per ounce. According to Johnson Matthey’s February 2021 PGM Market Report, the palladium market deficit was 606 thousand ounces in 2020. While the deficit narrowed compared with 2019, it was likely due to impacts associated with the pandemic and we think the deficit could widen significantly in 2021. Unless supply increases, it could take years to achieve a more balanced market. We also note that nickel prices increased 12.8% during the same period which underscores the value of the Tyko nickel project.Rating is Outperform. NKORF offers investors exposure to high value metals that play a critical role in clean air and battery technologies. We are encouraged by the latest IP survey results which highlight the LK project’s substantial resource potential. While more exploration is needed, past geophysical work has been critical in identifying high potential areas that were confirmed with drilling. Read More >>