The 189,181-acre Kuusamo PGE-Cu-Ni Project, directly bordering Palladium One Mining (PDM-TSX.V), is 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.