North American Palladium Drills 11 Meters of 7.2 Grams per Tonne Palladium

North American Palladium (TSX:PDL,NYSE MKT:PAL) has released third quarter drill results from exploration at its Lac des Iles project. The company reported high grade PGE-copper-nickel mineralization in three shallow surface drill holes.

As quoted in the press release:

Highlights include encouraging results from the ongoing extension and conversion drilling program targeting the Lower, North and Upper parts of the Offset Zone. In addition, surface drilling completed in the third quarter outlined a new zone (the “Powerline Zone”) of high-grade mineralization exposed at surface, adjacent to the Roby Zone open pit.

North American Palladium president and CEO, Phil du Toit, said:

We are encouraged by the progress of our Offset Zone extension drilling in support of a an extension of the Phase 1 mine plan and a potential Phase 2 expansion. The discovery of high-grade mineralization in the Powerline Zone emphasizes the potential for new discoveries at Lac des Iles. We remain on track to complete all of our principal exploration objectives for the year.

Click here to read the North American Palladium (TSX:PDL,NYSE,MKT:PAL) press release