Palladium One Mining Inc. (PDM:TSX.V; NKORF:OTCQB; 7N11:FSE) announced the latest drill results from its Tyko nickel-copper project in Ontario as it "continues to unravel the puzzle" there, reported Research Capital Corp. analyst Adam Schatzker in a Feb. 23 research note.
"The Tyko project is extremely interesting and highly prospective," Schatzker commented. "Mineralization has been found over a very wide area."
The analyst reiterated Research Capital's Speculative Buy rating and CA$0.30 per share target price on the Canadian metals explorer. It is currently trading, in comparison, at about one-third of that, at CA$0.09 per share. Thus, the potential return for investors is a notable roughly 253%.
New Data Helpful
Fully understanding the geological picture at Tyko is like solving a challenging puzzle, Schatzker wrote. While these latest results, from drilling known zones and prospective targets in 2022, are lackluster, they are useful.
They should help Palladium One further hone its exploration plan and, in turn, potentially yield better pieces to the puzzle down the line. Still more results from last year's campaign, 27 holes' worth, are pending.
Best of the Batch
Schatzker highlighted that the best results are from Tyko's Smoke Lake zone, where infill drilling in known mineralization returned some high grades. Hole TK22-082, for instance, hit 3.51% nickel, 1.17% copper, 0.05% cobalt, and 0.82 grams per ton (0.82 g/t) of total precious metals (palladium, platinum, and gold).
This included 4.98% nickel, 1.57% copper, 0.07% cobalt, and 1.15 g/t total precious metals.
Palladium One also drill-tested induced polarization anomalies to the north and south of Smoke Lake, Schatzker noted. Whereas the targets did not yield noteworthy results, the geology suggests the mineralized system continues in those areas. The company intends to drill them more once it receives the necessary permits.
A Good Sign
With these latest drill results, Palladium One discovered a chonolith northeast of the RJ zone. Specifically, hole TK22-093 showed 14.4m of sulfides, albeit low grade, Schatzker reported.
"The results imply that the company's interpretation of a chonolith was correct," the analyst added. "This is important as it helps support the theories developed to date for the whole property."
More Work Underway
Palladium One already launched its 2023 exploration at Tyko, which is expected to include earlier-stage methods, Schatzker wrote. A high-resolution magnetic resonance survey was done, the data from which the company will use to identify additional targets.
"We think Tyko has the right geology for more discoveries," added Schatzker.
|Want to be the first to know about interesting Gold, Critical Metals and Base Metals investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter.||Subscribe|
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Disclosures for Research Capital Corp., Palladium One Mining, February 23, 2023
Analyst Certification: I, Adam Schatzker, certify the views expressed in this report were formed by my review of relevant company data and industry investigation, and accurately reflect my opinion about the investment merits of the securities mentioned in the report. I also certify that my compensation is not related to specific recommendations or views expressed in this report. Research Capital Corporation publishes research and investment recommendations for the use of its clients. Information regarding our categories of recommendations, quarterly summaries of the percentage of our recommendations which fall into each category and our policies regarding the release of our research reports is available at www.researchcapital.com or may be requested by contacting the analyst. Each analyst of Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst’s personal views and (ii) no part of the research analyst’s compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.
Adam Schatzker has visited Palladium One Mining Inc. in the past 18 months.
Relevant Disclosures Applicable to Companies Under Coverage: Relevant disclosures required under IIROC Rule 3400 applicable to companies under coverage discussed in this research report are available on our website at www.researchcapital.ca
General Disclosures: The opinions, estimates and projections contained in all Research Reports published by Research Capital Corporation ("RCC") are those of RCC as of the date of publication and are subject to change without notice. RCC makes every effort to ensure that the contents have been compiled or derived from sources believed to be reliable and that contain information and opinions that are accurate and complete; RCC makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors and omissions which may be contained therein and accepts no liability whatsoever for any loss arising from any use of or reliance on its Research Reports or its contents. Information may be available to RCC that is not contained therein. Research Reports disseminated by RCC are not a solicitation to buy or sell. All securities not available in all jurisdictions.
Potential Conflicts of Interest: All Research Capital Corporation ("RCC") Analysts are compensated based in part on the overall revenues of RCC, a portion of which are generated by investment banking activities. RCC may have had, or seek to have, an investment banking relationship with companies mentioned in this report. RCC and/or its officers, directors and employees may from time to time acquire, hold or sell securities mentioned in our Research Reports as principal or agent. RCC makes every effort possible to avoid conflicts of interest, however readers should assume that a conflict might exist, and therefore not rely solely on this report when evaluating whether or not to buy or sell the securities of subject companies.
RC USA INC.: Information about Research Capital Corporation’s Rating System, the distribution of our research to clients and the percentage of recommendations which are in each of our rating categories is available on our website at www.researchcapital.com. The information contained in this report has been drawn from sources believed to be reliable but its accuracy or completeness is not guaranteed, nor in providing it does Research Capital Corporation assume any responsibility or liability. Research Capital Corporation, its directors, officers and other employees may, from time to time, have positions in the securities mentioned herein. Contents of this report cannot be reproduced in whole or in part without the express permission of Research Capital Corporation. US Institutional Clients – Research Capital USA Inc., a wholly owned subsidiary of Research Capital Corporation, accepts responsibility for the contents of this report subject to the terms and limitations set out above. US firms or institutions receiving this report should effect transactions in securities discussed in the report through Research Capital USA Inc., a Broker – Dealer registered with the Financial Industry Regulatory Authority (FINRA).