Exploration companies deep into drilling in Hemlo area of northwestern Ontario
Three junior mining companies working ground near the north shore of Lake Superior are making great strides with their exploration properties.
One company looking for nickel is reporting significant exploration success in the Hemlo area.
Palladium One said the first two holes of a drill program at its Tyko property encountered massive magmatic sulphides grading 8.7 per cent nickel (193 pounds per tonne) over 3.0 metres. The intersections were taken a depth of less than 30 metres.
The Toronto-based nickel and copper company makes no secret that they’re out to find a high-grade nickel deposit at Tyko, a nickel, copper, platinum group metals property, 25 kilometres north of Barrick’s Hemlo Mine Complex and 65 kilometres northeast of Marathon. It covers more than 20,000 hectares, a good chunk of which has see no geological mapping or exploration.
After finding nickel-mineralized boulders and soil samples at Tyko this year, the company began drilling off a target dubbed Smoke Lake in late November. All 13 holes hit multiple magnetic sulphides.