North American Palladium reports positive near-surface results at Lac des Iles mine

Lac des Iles palladium mine in northwestern Ontario. Image courtesy of North American Palladium.

Toronto’s North American Palladium (TSE: PDL) is enjoying continued success from the near surface exploration targets at its Lac des Iles palladium mine 85 km northwest of Thunder Bay, Ontario.

So far this year, the company has drilled 34 holes totaling 15,451 metres on the East Mine Block (EMB) and received assays from 30% of them. The work has expanded two separate zones.

The Creek zone is now understood to be larger and a more continuous mineralized trend than previously modeled, and it remains open along strike in both directions and has been traced to at least 600 metres below surface.

Hole 19-017 returned 116 metres of 1.01 g/t palladium including 10.0 metres with 2.04 g/t. Hole 19-026 intersected 14.0 metres of 1.53 g/t palladium including 5.0 metres with 3.34 g/t. Hole 19-024 cut 20.2 metres grading 1.39 g/t palladium including 5.0 metres of 3.34 g/t. Hole 19-022 returned 24.0 metres 1.37 g/t palladium including 5.0 metres at 3.98 g/t with 3.0 metres at 5.23 g/t.

The North VT Rim zone hosts a near surface resource near the northeast end of the Roby pit, and the zone has been traced 1.5 km to the east. Hole 19-022 also intersected this zone with 18 metres of 1.70 g/t palladium including 8.0 metres 3.33 g/t palladium with higher grade sub-intervals of 4.50 g/t over 5.0 metres and 8.19 g/t over 2.0 metres.

NAP will continue to test geophysical anomalies in the EMB for the remainder of the year. The most attractive mineralized trends will be selected for definition drilling next year.

This article first appeared in the Canadian Mining Journal

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