Canadian Palladium Resources Releases Results from First Diamond Drill Hole at East Bull

Canadian Palladium Resources Inc. (CSE:BULL, OTCQB:DCNNF, FSE:DCR1) (formerly 21C Metals Inc.) (the “Company”) is pleased to announce the rush sample results from the first diamond drill hole on its East Bull Palladium Property, 90 kilometres west of Sudbury, Ontario. Hole EB-20-01 was designed to assess the areas of higher – grade Palladium. These higher – …

Canadian Palladium Resources Inc. (CSE:BULL, OTCQB:DCNNF, FSE:DCR1) (formerly 21C Metals Inc.) (the “Company”) is pleased to announce the rush sample results from the first diamond drill hole on its East Bull Palladium Property, 90 kilometres west of Sudbury, Ontario.

Hole EB-20-01 was designed to assess the areas of higher – grade Palladium. These higher – grade Palladium zones will be assessed to determine if they are structural controlled and can be traced downdip and along strike within the inferred resource (See Press Release July 3,2019).

The initial three holes of the 2020 diamond drill program have been established over a strike length of ~40 metres with results of EB-20-02 and 03 expected in the next 3 weeks. The diamond drill holes tested 50 to 75 metres below surface.

The results of the first hole, EB-20-01 include:

Individual demarked samples were sawn in half, bagged, sealed and transported by courier to Activation Laboratories in Ancaster Ontario. Duplicates and standards were introduced to the sample stream as illustrated. Each sample was analysed using the Activation Laboratories codes RX1, 1C-OES 50 g (Au, Pt, Pd); 1F2 Total Digestion ICP.

Intercept widths are core width that is ~90% true width using the historic drill intercepts.

Canadian Palladium intends to analyse significant Palladium zones for rhodium.

The present diamond drill program is moving along smoothly and is working toward expanding the previously reported inferred Palladium resource.

Sections of the core from EB-20-01 will be exhibited at the Prospectors and Developers Association of Canada Convention March 1 to 4, 2020 at Pavey Ark’s booth 2728.

Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.

Wayne Tisdale commented, “I am excited by the results we have received from the first hole. Our geological team is gathering excellent information from present diamond drilling and we look forward to the results of the aggressive diamond drill program with the details of the next two holes being released within 3-4 weeks.”

Canadian Palladium Resources Inc.

Wayne Tisdale, President and CEO
T: (604) 639-4472

Reader Advisory

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the proposed timing and completion of the private placement and the proposed use of proceeds from the private placement. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in water disposal facility operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

 

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