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North American Palladium Ltd -
North American Palladium's drilling results from Lac des Iles
North American Palladium Ltd PDL
Shares issued 11,837,836 1999-06-10 close $1.75
Friday Jun 11 1999
Mr. Keith Minty reports
North American Palladium has received results from the current 112,000 foot (34,100 metre) drilling program at the company's Lac des Iles mine, 85 kilometres north of Thunder Bay, Ont. The drilling began following a recent scoping study which recommended increasing the production rate at the Lac des Iles open pit mine from the current 2,400 tonnes per day.
The drill program has the objectives of defining new resources in the vicinity of the Roby zone and increasing drill hole density within known limits of the Roby zone. Target areas for definition of new resources include: 1) mineralized gabbro breccia on the west and south flanks of the Roby zone; 2) high-grade mineralized pyroxenite (shear ore) below the current open pit at depths of 800 to 1,300 feet (244 to 396 metres); and 3) mineralized gabbronorite in the down-dip extension of the North Roby zone. The in-fill drilling within the Roby zone will enable resources to be categorized as indicated and measured.
Assays are currently available for 98 holes totalling 93,552 feet (28,515 metres). Economically significant mineralization has been intersected in 67 of the 98 holes and results are reported below. To date, most of the significant new intersections are in mineralization on the west and south flanks of the Roby zone. Highlights include: drill hole 99-046 (0.078 ounce per ton Pd over 511.8 feet); drill hole 99-047 (0.049 ounce per ton Pd over 1006.8 feet); drill hole 99-078 (0.082 ounce per ton Pd over 462.5 feet); drill hole 99-126 (0.048 ounce per ton Pd over 800.6 feet); drill hole 99-129 (0.102 ounce per ton Pd over 725.1 feet); drill hole 99-135 (0.051 ounce per ton Pd over 802.9 feet); and drill hole 99-141 (0.060 ounce per ton Pd over 919.7 feet). Forty-five holes have intersected mineralized pyroxenite below the current open pit. Significant high-grade intersections include drill hole 99-055 (0.243 ounce per ton Pd over 128.0 feet) and hole 99-064 (0.211 ounce per ton Pd over 226.2 feet), drill hole 99-097 (0.273 ounce per ton Pd over 113.2 feet). The steeply dipping pyroxenite unit was intersected by holes drilled at 45 degrees from horizontal and therefore intersections of this unit do not represent true widths. High-grade pyroxenite mineralization remains open at depth. The current exploration diamond drilling program is scheduled for completion at the end of the second quarter. Following the analysis of these drilling results, a second phase diamond drilling program is scheduled to commence during the third quarter.
Drill core was photographed, logged and split prior to sampling. Samples were analyzed at Accurassay Laboratories, Thunder Bay, Ont., by fire assay with atomic absorption finish (Pd, Pt, Au) and atomic absorption (Cu, Ni). Five per cent of samples were re-analyzed by Chemex Labs Ltd. and the company's laboratory. The remaining split core for all drill holes is stored at the company's Lac des Iles site.
As of Feb. 1, 1998, Steffan, Robertson and Kirsten (Canada) Inc. determined that the Roby zone contained a proven and probable minable reserve of 7.8 million tons of ore with a combined PGM grace of 0.123 ounce per ton. Results from the drilling program will be included in a new mineral resource estimate for the deposit in the third quarter of 1999. At this time, a decision will be made on proceeding to a full feasibility study of the proposed expanded mining operation.
North American Palladium Ltd., through its wholly owned subsidiary Lac des Iles Mines Ltd., operates Canada's only primary PGM mine and is the world's largest open pit PGM producer. In 1998, the Company produced 84,228 ounces palladium, 5,535 ounces platinum, 5,079 ounces gold plus copper and nickel.
Lac des Iles Drill Results
Hole FROM-TO INTERVAL Pd Au
(feet) (feet) oz/t oz/t
99-007 508.0- 583.4 75.4 .165 .004
99-031 951.5-1,525.6 574.1 .059 .004
99-032 777.6- 877.8 100.2 .079 .006
99-033 79.4- 226.4 147.0 .059 .004
99-041 276.1- 410.6 134.5 .055 .002
99-046 580.7-1,092.5 511.8 .078 .006
99-047 78.7-1,085.5 1,006.8 .049 .003
99-048 49.2- 501.9 452.7 .051 .004
99-050 59.4- 144.2 84.8 .080 .005
99-050 254.0- 415.3 161.3 .057 .004
99-051 639.7- 745.2 105.5 .124 .012
99-052 42.3- 640.6 598.3 .053 .005
99-053 800.4- 944.9 144.5 .131 .009
99-054 1,703.0-1,767.7 64.7 .107 .006
99-055 1,328.7-1,456.7 128.0 .243 .012
99-056 1,136.8-1,226.1 89.3 .103 .004
99-057 817.0- 944.9 127.9 .138 .007
99-058 590.6- 676.7 86.1 .098 .008
99-059 805.5-1,505.9 700.4 .088 .008
99-060 38.1-1,249.1 1,211.0 .057 .006
99-061 748.1- 980.4 232.3 .061 .008
99-063 552.2- 600.4 48.2 .107 .005
99-064 25.3- 127.9 102.6 .074 .007
99-064 1,368.1-1,594.3 226.2 .211 .016
99-065 46.7-1,289.1 1,242.4 .071 .007
99-066 217.3-1,289.1 1,071.8 .052 .006
99-067 44.0- 940.0 896.0 .058 .005
99-070 1,380.3-1,668.9 288.6 .113 .012
99-071 305.1-1,338.5 1,033.4 .062 .006
99-072 138.8-1,098.4 959.6 .092 .009
99-073 11.3- 728.3 717.0 .092 .009
99-075 11.7- 102.0 90.3 .096 .007
99-075 221.9- 260.1 38.2 .126 .005
99-076 713.1- 826.0 112.9 .176 .010
99-077 1,328.7-1,555.1 226.4 .133 .008
99-078 826.8-1,289.3 462.5 .082 .009
99-079 999.1-1,335.8 336.7 .095 .008
99-080 797.2-1,161.4 364.2 .095 .009
99-081 364.2- 563.1 198.9 .091 .009
99-082 127.9- 330.0 202.1 .084 .008
99-083 659.4- 816.9 157.5 .093 .009
99-084 954.7-1,181.1 226.4 .170 .009
99-085 541.3- 738.2 196.9 .090 .006
99-086 511.8- 556.1 44.3 .154 .009
99-088 1,190.9-1,355.0 164.1 .134 .004
99-089 698.8- 903.5 204.7 .240 .014
99-091 709.1- 872.4 163.3 .212 .012
99-092 471.3- 832.5 361.2 .079 .003
99-093 859.2- 925.2 66.0 .178 .009
99-093 1,063.0-1,215.0 152.0 .051 .003
99-097 841.5- 954.7 113.2 .273 .010
99-099 563.1- 669.1 106.0 .157 .004
99-100 682.0- 836.6 154.6 .186 .008
99-102 570.9- 718.5 147.6 .113 .005
99-103 689.0- 816.9 127.9 .094 .003
99-104 787.4- 856.3 68.9 .184 .007
99-107 689.0- 777.6 88.6 .152 .006
99-108 541.3- 620.8 79.5 .098 .004
99-114 59.5- 285.4 225.9 .055 .005
99-126 508.4-1,309.0 800.6 .048 .003
99-127 472.4-1,199.8 727.4 .053 .004
99-128 403.5- 993.4 589.9 .054 .006
99-129 1,137.0-1,862.1 725.1 .102 .009
99-131 236.2- 295.3 59.1 .094 .009
99-133 445.5- 620.1 174.6 .071 .004
99-134 314.9- 649.6 334.7 .064 .003
99-135 334.4-1,137.3 802.9 .051 .003
99-137 922.0-1,082.7 160.7 .103 .007
99-139 640.7- 764.5 123.8 .065 .003
99-141 1,133.8-2,053.5 919.7 .060 .006
HOLE FROM - TO Pt Cu Ni
(feet) oz/t % %
99-007 508.0- 583.4 .010 0.022 0.028
99-031 951.5-1,525.6 .006 0.059 0.048
99-032 777.6- 877.8 .008 0.086 0.084
99-033 79.4- 226.4 .005 0.175 0.147
99-041 276.1- 410.6 .009 0.034 0.003
99-046 580.7-1,092.5 .008 0.092 0.075
99-047 78.7-1,085.5 .008 0.043 0.049
99-048 49.2- 501.9 .006 0.053 0.068
99-050 59.4- 144.2 .008 0.126 0.114
99-050 254.0- 415.3 .009 0.064 0.068
99-051 639.7- 745.2 .009 0.168 0.112
99-052 42.3- 640.6 .006 0.065 0.048
99-053 800.4- 944.9 .009 0.187 0.190
99-054 1,703.0-1,767.7 .007 0.070 0.074
99-055 1,328.7-1,456.7 .013 0.089 0.108
99-056 1,136.8-1,226.1 .007 0.068 0.046
99-057 817.0- 944.9 .010 0.100 0.082
99-058 590.6- 676.7 .007 0.092 0.091
99-059 805.5-1,505.9 .008 0.098 0.073
99-060 38.1-1,249.1 .006 0.095 0.083
99-061 748.1- 980.4 .005 0.097 0.086
99-063 552.2- 600.4 .008 0.091 0.060
99-064 25.3- 127.9 .008 0.088 0.055
99-064 1,368.1-1,594.3 .013 0.124 0.110
99-065 46.7-1,289.1 .007 0.106 0.093
99-066 217.3-1,289.1 .006 0.094 0.083
99-067 44.0- 940.0 .005 0.085 0.072
99-070 1,380.3-1,668.9 .008 0.104 0.076
99-071 305.1-1,338.5 .006 0.105 0.085
99-072 138.8-1,098.4 .009 0.123 0.099
99-073 11.3- 728.3 .008 0.126 0.107
99-075 11.7- 102.0 .008 0.143 0.113
99-075 221.9- 260.1 .008 0.045 0.045
99-076 713.1- 826.0 .010 0.089 0.096
99-077 1,328.7-1,555.1 .009 0.089 0.101
99-078 826.8-1,289.3 .008 0.136 0.108
99-079 999.1-1,335.8 .008 0.093 0.085
99-080 797.2-1,161.4 .008 0.117 0.084
99-081 364.2- 563.1 .010 0.151 0.110
99-082 127.9- 330.0 .008 0.001 0.001
99-083 659.4- 816.9 .009 0.130 0.096
99-084 954.7-1,181.1 .010 0.067 0.063
99-085 541.3- 738.2 .006 0.066 0.061
99-086 511.8- 556.1 .010 0.118 0.092
99-088 1,190.9-1,355.0 .009 0.056 0.067
99-089 698.8- 903.5 .012 0.097 0.112
99-091 709.1- 872.4 .013 0.072 0.062
99-092 471.3- 832.5 .005 0.036 0.031
99-093 859.2- 925.2 .011 0.051 0.057
99-093 1,063.0-1,215.0 .005 0.026 0.030
99-097 841.5- 954.7 .015 0.041 0.051
99-099 563.1- 669.1 .009 0.023 0.044
99-100 682.0- 836.6 .025 0.039 0.049
99-102 570.9- 718.5 .006 0.025 0.023
99-103 689.0- 816.9 .005 0.022 0.032
99-104 787.4- 856.3 .007 0.024 0.033
99-107 689.0- 777.6 .006 0.012 0.019
99-108 541.3- 620.8 .007 0.026 0.028
99-114 59.5- 285.4 .006 0.102 0.070
99-126 508.4-1,309.0 .005 0.074 0.005
99-127 472.4-1,199.8 .008 0.067 0.065
99-128 403.5- 993.4 .007 0.085 0.081
99-129 1,137.0-1,862.1 .009 0.121 0.117
99-131 236.2- 295.3 .011 0.108 0.076
99-133 445.5- 620.1 .011 0.061 0.046
99-134 314.9- 649.6 .013 0.048 0.049
99-135 334.4-1,137.3 .008 0.055 0.053
99-137 922.0-1,082.7 .014 0.061 0.058
99-139 640.7- 764.5 .011 0.039 0.045
99-141 1,133.8-2,053.5 .007 0.106 0.083
WARNING: The company relies upon litigation protection for "forward-looking" statements.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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