North American Palladium Expands Sunday Lake PGM Zone

North American Palladium (TSX:PDL,OTC Pink:PALDF) has released fresh drilling results from its Sunday Lake exploration project in Ontario, Canada.

Highlights from the press release are as follows:

• Hole SL-19-026, targeting the strongest conductivity anomaly in the western part of the intrusion, returned the highest-grade multi-metre intersection found to date. The main intersection is 41.2 metres with 3.22 grams per tonne platinum, 2.08 grams per tonne palladium and 0.21 grams per tonne gold, 0.57 percent copper and 0.19 percent nickel. Included in this interval is a 15.8 metre section containing 9.11 grams per tonne 3E (platinum, palladium and gold) with 0.88 percent copper and 0.24 percent nickel that, in turn, contains a 8.30 metre sub-interval grading 13.06 grams per tonne 3E, 1.23 percent copper and 0.32 percent nickel.

• Hole SL-19-29, a 275 metre step-out from hole SL-19-26, intersected 32.0 metres with 3.35 grams per tonne 3E, including 8.17 metres of 5.44 grams per tonne 3E and 0.51 percent copper.

• Hole SL-19-25, one of three follow-up holes to mineralization discovered last year in the central part of the intrusion, intersected 14.80 metres with 2.33 grams per tonne 3E and 0.29 percent copper. Included in this interval are two separate higher-grade sub-intervals:

  • 2.30 metres with 4.11 grams per tonne 3E and 0.48 percent copper, and
  • 1.60 metres with 5.18 grams per tonne 3E and 0.70 percent copper.

Jim Gallagher, North American Palladium President and CEO, commented:

“We continue to expand the PGM Zone at Sunday Lake. This is currently our most advanced regional exploration project and represents our best blue sky opportunity and is a key element in our long-term strategy of building an inventory of high-quality PGM assets in the Thunder Bay region. This strategy is anchored by the LDI Mill, which is uniquely positioned to treat ore from new development projects in this part of Ontario. This large facility could help these projects reduce their capital requirements and improve investment returns.”

Click here to read the full press release from North American Palladium.