Sienna Resources (TSXV: SIE) (FSE: A1XCQ0) (OTC Pink: SNNAF) has significantly increased the acreage on it Kuusamo PGE-cobalt-nickel project in Finland. The acquisition of this property, located in the Koillismaa Layered Igneous Complex or KLIC in north-central Finland, directly bordering Palladium One Mining, makes Sienna one of the largest land holders in this region.
For more information, please view the InvestmentPitch Media "video" which provides additionalinformation on the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Sienna" in the search box.
Jason Gigliotti, President, stated: "We are very pleased to have significantly increased our acreage that is bordering and surrounding Palladium One Mining. This new acreage now gives Sienna approximately 190,000 acres in the highly prospective KLIC in North-Central Finland. 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-cobalt-nickel deposits such as the nearby Suhanko Arctic Platinum deposit located about 100 km northwest of Sienna's project. Suhanko hosts SAMREC Code Compliant Measured and Indicated resources of 5.4 million ounces of palladium grading 1.44 g/t palladium and 1.3 million ounces of platinum grading 0.35 g/t platinum at a cut-off of 1.0 g/t platinum + palladium + gold, as well as significant additional Inferred Resources.
Historical mapping and diamond drilling has outlined an approximately 23 km long basal contact horizon which is prospective for Contact-Type PGE-cobalt-nickel sulphide mineralization. Sienna recently completed orientation soil surveys of 4 sections using partial leach methods to identify mobile metals interpreted to be derived from local sulphide-rich source rocks, with 3 of the 4 test sections showing anomalies including palladium, copper, nickel and gold.
The most encouraging aspect of the sampling program were the particularly strong anomalies seen in the southernmost sampling lines in the Pirivaara Block. The Pirivaara Block is an outlying exposure of the KLIC that crops out from beneath glacial cover in the southeastern portion of the Project. Although little is known about this particular exposure, soil sampling results shows evidence of strong anomalism in copper and nickel, and palladium and gold.
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. The company plans broader sampling programs as well as geophysical surveys and detailed ground magnetics to identify the highest priority drill targets on the project.
Sienna is partnered with a New York Stock Exchange-listed mining company on three separate projects in Scandinavia including orogenic gold projects in southern Norway which are both greenstone-hosted gold systems.
In North America, Sienna's projects include the Marathon North platinum-palladium property in Northern Ontario directly bordering Generation Mining's 7.1-million-ounce palladium-equivalent Marathon deposit. Sienna also has the Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nevada, 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' Gigafactory.
Management cautions that mineralization on nearby properties may not be indicative of the presence of mineralization on Sienna's properties.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Barry Morgan, CFO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74517