North American Palladium Ltd. (TSX:PDL,OTC Pink:PALDF) provided an update on its greenfields exploration activities. The update includes details on a recently completed drill program in the unexplored northern area of the Legris Lake property.
Highlights from Legris Lake are as follows:
- Magmatic sulfide mineralization, locally exceeding core lengths of 20 metres and having anomalous copper, nickel and PGM concentrations, was intersected in three drill holes including 15.7 metres averaging 0.33% Cu and 0.23 g/t Pt + Pd + Au (“3E”) in hole 18-LL-001.
- Drilling targeted previously untested magnetic and electromagnetic anomalies that constitute the Stonefish Lake target, which is situated within a 5 km long gap between the Legris Lake mafic complex and the Lac des Iles mafic complex.
- The magmatic sulfide mineralization is hosted in previously unrecognized mafic intrusive bodies that have geochemical and mineralogical similarities to rock types in the LDI complex.
- These drilling results, combined with geophysical survey data, open up a new exploration corridor directly adjoining the southeastern side of the LDI mine property.
Jim Gallagher, president and CEO of North American Palladium, commented:
The recent drilling results at Legris Lake highlight the significant potential to make new discoveries in our Greenfields exploration areas. We are particularly excited about the first discovery of LDI-type intrusive rocks between the LDI Complex and the Legris Lake Complex, which opens up a new target area within a short distance from our mine and mill. We look forward to continuing our investment in our Greenfields properties as part of our long-term exploration strategy to fill the LDI mill for many years to come.