NKORF - Palladium One Mining Inc. (NKORF)(PDM:CA) - Still in the Shadow of LK?
Initial results from the Phase II Tyko drill program. A total of 14 holes representing 1,370 meters of drilling were completed, of which 11 intersected massive and/or semi-massive sulphide mineralization at the Smoke Lake Zone. The company has reported results for 6 of the 14 holes completed. Included were results for Hole TK21-034 which returned 9.5% nickel equivalent over 1.7 meters, within 6.0% nickel equivalent over 5.0 meters, from 66 meters down hole. Hole TK21-029 returned 9.0% nickel equivalent over 0.9 meters, within 7.8% nickel equivalent over 3.1 meters, from 31 meters down hole. Drilling results at Tyko have revealed high-grade nickel intercepts and significant exploration potential.Increasing the strike length to 350 meters. Recall that ground-based and borehole EM surveys outlined two significant conductors at Smoke Lake. An important outcome of the Phase II drill program was the strike length extension to 350-meters combined with linking high-grade massive sulphide mineralization between the upper conductor and lower conductor which returned 6.0% nickel equivalent over 5.0 meters.Next steps. Drilling will resume following a 3,000-line kilometer airborne versatile time-domain electromagnetic (VTEM) survey that will cover the entire Tyko project area to discover additional EM anomalies and refine future drill locations. The focus of the upcoming geophysical program will be to trace the Smoke Lake sulphide lens to depth and identify the source of sulphide mineralization, along with identifying other zones of nickel-copper sulphide mineralization on the Tyko property.Rating is Outperform. NKORF offers investors exposure to high value metals that play a critical role in clean air and battery technologies. While investors have focused on the flagship LK project in Finland, we expect the Tyko nickel project in Ontario, Canada to become increasingly more relevant to the company’s valuation. We note that Fathom Nickel Inc., an exploration company focused on exploring for high-grade nickel sulfide at its Albert Lake project in Saskatchewan, Canada, recently went public and now has a market capitalization of C$25.8 million. Read More >>