Vancouver, B.C., February 12, 2021: Sienna Resources
Inc. (“Sienna” or the “Company”) (SIE—TSX.v, SNNAF—USA, A1XCQ0–Germany)
is pleased to announce that it has significantly increased the acreage on its
Kuusamo PGE-Cu-Ni Project (the “Project” or the “Property” or “Kuusamo”), in Finland
directly bordering Palladium One Mining (PDM-TSX.V) located in the Koillismaa Layered
Igneous Complex (“KLIC”) in north-central Finland.
Jason
Gigliotti, President of Sienna Resources stated, “We are very pleased to have
significantly increased our acreage that is bordering and surrounding Palladium
One Mining (PDM-TSX.V). This new
acreage now gives Sienna approximately 190,000 acres in the highly prospective Koillismaa
Layered Igneous Complex (“KLIC”) in North-Central Finland. This makes Sienna
one of the largest land holders in this region.
Sienna has just completed initial work that uncovered that the basal
contact encountered is 23 km long and is the primary target for this project,
showing similar characteristics and geological orientation as the bordering
project of Palladium One. We have had
initial positive indications to date on this project and adding this large new
land package, contiguous to our exciting prospects, enables Sienna to
potentially identify more high priority drill targets at a time when platinum
prices are at 6-year highs. We are
planning to be very active in Finland and Norway in the coming weeks and we
continue to evaluate the Clayton Valley Deep Basin Lithium Project in Nevada as
the global demand for lithium is exploding exponentially due to the Electric
Vehicle demand. Management is very
enthused about the upcoming year for Sienna.”
The
KLIC is part of a suite of Paleoproterozoic continental rift-related intrusions
which are highly prospective for PGE-Cu-Ni deposits such as the nearby Suhanko
(Arctic Platinum Oy) deposit located about 100 km northwest of the Project.
Suhanko hosts SAMREC Code Compliant Measured and Indicated resources of 5.4
million ounces of palladium grading 1.44 g/t Pd and 1.3 million ounces of
platinum grading 0.35 g/t Pt at a cut-off of 1.0 g/t Pt+Pd+Au, as well as
Inferred Resources of 4.4 million ounces of palladium grading 1.50 g/t Pd and
1.1 million ounces of platinum grading 0.38 g/t Pt (www.suhanko.com).
Management cautions that past results or discoveries on properties in proximity
to Sienna may not necessarily be indicative to the presence of mineralization
on the Company’s properties.
The
highly prospective Kuusamo Project has the potential to host similar styles of
basal PGE-Cu-Ni mineralization (Contact-Type) found at the LK Project and
associated with the basal contact of the Syöte Block. Historical mapping and
diamond drilling at Kuusamo has outlined an approximately 23 km long basal
contact horizon along within the Syöte Block which is prospective for
Contact-Type PGE-Cu-Ni sulphide mineralization.
Sienna
recently completed orientation soil surveys (total of four sections) over the
interpreted contact region of the Syöte and Pirivaara blocks (Figure 1). The
soil samples, which targeted the B-horizon in the soil profile, were analysed
using partial leach methods to identify mobile metals interpreted to be derived
from local sulphide-rich source rocks. In three of the four test sections, the
targeted geologic horizon (contact region) showed anomalies in a combination of
vector elements including palladium, copper, nickel, and gold. Background
concentrations for the vector elements were established at 0.09 ppb Pd, 400 ppb
Cu, 70 ppb Ni, and 0.05 ppb Au. The lower limit of detection (“LLD”) for these
elements are 0.05 ppb Pd, 1 ppb Cu, 1 ppb Ni, and 0.02 ppb Au.
Figure
1. Location of soil sampling sections within the Syöte and Pirivaara blocks,
Finland.
Anomalous
soil samples returned concentrations in the vector elements that ranged from
LLD to 0.21 ppb Pd, 109 to 783 ppb Cu, and 33 to 137 ppb Ni, and LLD to 0.16
ppb Au in section Site #1 (Figure 1 – panel A), from LLD to 0.29 ppb Pd, 121 to
846 ppb Cu, 68 to 236 ppb Ni, and LLD to 0.57 ppb Au in section Site #3 S1
(Figure 1 – panels B and C), from LLD to 0.31 ppb Pd, 109 to 3190 ppb Cu, 42 to
1120 ppb Ni, and LLD to 0.71 ppb Au in section Site #3 S2 (Figure 1 – panels B
and C), with anomalies positioned at or near the targeted basal units of the
two KLIC blocks. Results from section Site #2 were mostly LLD or below the
determined background concentrations.
Results
from the orientation soil sampling program reflect a highly encouraging “proof
of concept” for this rapid and inexpensive sampling technique, and provides the
confidence for this technique to be used to screen larger target areas within
the Project, in a highly cost-effective manner.
The
most encouraging aspect of the sampling program were the particularly strong
anomalies seen in the southernmost sampling lines in the Pirivaara Block
(Figure 1). The Pirivaara Block is an outlying exposure of the KLIC that crops
out from beneath glacial cover in the southeastern portion of the Project.
Little is known about this particular exposure of the KLIC, but the Sienna soil
sampling results shows evidence of strong anomalism in copper and nickel
(Figure 1 – panel C), and palladium and gold (Figure 1 – panel B). As a result
of these positive indications, this area, along with the basal contact in the
Syöte Block, will be prioritized for further work.
Plans
for continued exploration on the Kuusamo project include broader sampling
programs using the same soil sampling techniques employed in this initial phase
of sampling, as well as geophysical surveys (Induced Polarization or “IP” and
detailed ground magnetics) targeting the prospective basal portions of the
intrusive blocks. The aim of the broader exploration programs will be to
identify the highest priority drill targets on the Project.
The
technical contents of this release were approved by Greg Thomson, PGeo, a
qualified person as defined by National Instrument 43-101.
Soil samples were submitted for analyses at ALS
Scandinavia AB (ALS Global) whose laboratories are accredited by SWEDAC for
several analytical methods and whose accreditation implies their compliance
with the international standard ISO 17025 and ISO 9001:2000. The ALS Global
Ionic Leach assay method identifies anomalous mobile metal ions which may have
been mobilized and trapped within the soil profile, giving good indications of mineralized
bodies under deep cover.
This new acreage was acquired via staking.
About Sienna Resources Inc.
Sienna Resources is focused on exploring for and
developing high-grade deposits in politically stable, environmentally
responsible and ethical mining jurisdictions. Sienna is partnered with a New
York Stock Exchange-listed mining company on three separate projects in
Scandinavia including the past-producing Bleka and Vekselmyr orogenic gold
projects in southern Norway which are both greenstone-hosted gold systems, the
Kuusamo platinum group elements (PGE) project in Finland directly bordering the
LK Project being advanced by Palladium One Mining Inc., and the
platinum-palladium-nickel Slattberg project in southern Sweden. In North
America, Sienna’s projects include the Marathon North platinum-palladium
property in Northern Ontario directly bordering Generation Mining Ltd.’s
7.1-million-ounce palladium-equivalent Marathon deposit. Sienna also has the
Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nev., home to the
only lithium brine basin in production in North America, in the direct vicinity
of Albemarle Corp.’s Silver Peak deposit and Tesla Motors Inc.’s Gigafactory.
Management cautions that past results or discoveries on properties in proximity
to Sienna may not necessarily be indicative to the presence of mineralization
on the company’s properties.
If
you would like to be added to Sienna’s email list please email
[email protected] for information or join our twitter account at
@SiennaResources.
Contact Information
Tel:
1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
“Jason Gigliotti”
President, Director
Sienna Resources Inc.
Neither
the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
