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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Robbins who wrote (589)	5/24/2000 10:50:00 PM
From: Sleeper	Read Replies (1) \| Respond to of 976

Wonder if this will help the stock price tomorrow? Sleeper Wednesday May 24, 6:16 pm Eastern Time Company Press Release North American Palladium Discovers New High Grade Palladium, Mineralization at Roby Zone During Current Phase I Drilling THUNDER BAY, Ontario--(BUSINESS WIRE)--May 24, 2000--North American Palladium Ltd.'s (TSE:PDL. - news) 100,000m exploration drilling program of the Roby and Twilight Zones for year 2000 is one third complete. The program objective is to delineate additional resources by systematic step-out drilling throughout the deposit. This current drill program intersected a new high grade Pyroxenite and Gabbro Breccia mineralization in the South Roby Zone. The Zone was encountered at a depth of 300m below surface and is located outside the ultimate pit proposed as part of the expansion project. It is anticipated that this Zone will contribute to an increase in the Palladium resource, and have a significant impact on further expansion of the Roby Pit and mine life. From January 15 to May 17, 2000, a total of 28,196m of core drilling in 54 holes were completed during the Phase 1 drilling program at the Company's Lac des Iles Mine, located 85 km north of Thunder Bay, Ontario. Roby Zone mineralization has been extended more than 200m deeper than previous known intersections from the 1999 exploration drilling program, exceeding a depth of 600m. Definition drilling of the Twilight Zone located to the south east of the Roby Zone is continuing. It is expected that the Twilight Zone mineralization will significantly contribute to the increase in the Palladium resource at the Lac des Iles Mine. This press release reports new results for 14 holes (8,121m) completed between April 17 and May 17, 2000. Three holes intercepted the North Roby Zone, hole 00-041 having 33m grading 2.17 g/t Pd, hole 00-200 having 15m at 3.42 g/t and hole 00-055 having 57m grading 2.18 g/t Pd. All holes are collared at the south end of the Roby zone, testing both the Roby and Twilight zones. In North Roby Zone, mineralization is essentially hosted by Gabbro and Gabbronorite Breccia. Roby Zone higher-grade mineralization hosted by a mixture of Pyroxenite and Gabbro Breccia was intercepted 60m south of its previously known southern limit, at a depth from 300m to 350m. Hole 00-107 has a 65m intersection grading 3.34 g/t Pd, including a 26m interval grading 6.20 g/t Pd. The third of four intercepts in hole 00-106, from 399m to 480m, contains 81m grading 1.74 g/t Pd. Similarly, hole 00-097 intercepted 66.2m grading 2.64 g/t Pd, including 14.75m grading 4.52 g/t Pd. Additional drilling will be necessary to fully define the extent of this higher grade zone. This zone is open on strike and further exploration drilling is planned to define the geometry of this zone. Assay results from hole 00-098, which also intercepted the zone, are pending. Holes 00-075, 00-077, 00-106 and 00-208 all generated multiple intercepts within the South Roby Zone, ranging in depth 300m to 650m. The longest intercepts include; 81m grading 1.74 g/t Pd in hole 00-106, 133m grading 1.45 g/t Pd in hole 00-077, and 78m grading 1.78 g/t Pd in hole 00-106, with higher grade intercepts of 3m and 6m, respectively at 3.8 g/t Pd and 4.31 g/t Pd. Deeper intercepts in hole 00-075 are 63m grading 1.91 g/t Pd, including a higher grade intercept of 18.4m at 3.08 g/t Pd, and 53.8m at 1.37 g/t Pd including a 6m higher grade intercept at 3.01 g/t Pd. Hole 00-208 confirmed the continuity of Roby Zone mineralization to a depth exceeding 700m, where it intersected 119.05m grading 1.19 g/t Pd. Deep drilling conducted over the course of this program has confirmed that the Roby Zone extends to depths exceeding 675m over a 330m strike length. The Lac des Iles Mine is Canada's only primary producer of platinum group metals and one of the largest platinum group metals deposits in the world. Palladium demand for is expected to remain strong in 2000 supported by an increase in annual autocatalyst demand of 20% as reported by Johnson Matthey in their Platinum 2000 review. Hole # from To Interval Pd Au m M (m) (g/t) (g/t) North Roby Zone 00-055 300.00 357.00 57.00 2.185 0.101 Including 318.50 330.00 11.50 5.735 0.084 00-200 63.00 78.00 15.00 3.418 0.038 00-041 339.00 372.00 33.00 2.170 0.101 Including 342.00 354.00 12.00 4.428 0.119 Twilight and Roby Zone (at Depth) 00-106 129.00 150.00 21.00 1.185 0.108 00-106 180.00 195.00 15.00 1.137 0.089 00-106 399.00 480.00 81.00 1.739 0.106 Including 447.00 450.00 3.00 5.960 0.238 00-106 600.00 678.00 78.00 1.779 0.101 Including 639.00 642.00 3.00 3.800 0.064 Including 651.00 657.00 6.00 4.312 0.341 00-107 445.00 510.00 65.00 3.342 0.152 Including 445.00 471.00 26.00 6.199 0.304 00-097 416.80 483.00 66.20 2.636 0.155 Including 423.00 426.00 3.00 5.130 0.128 Including 440.55 455.30 14.75 4.519 0.400 Including 477.00 481.70 4.70 4.467 0.068 00-077 277.61 410.58 132.97 1.446 0.115 Hole # from To Interval Pd Au m M (m) (g/t) (g/t) Including 395.00 405.97 10.97 2.764 0.111 00-077 473.61 507.69 34.08 1.411 0.135 00-075 228.00 273.00 45.00 1.150 0.039 Including 246.50 249.00 2.50 3.470 0.126 00-075 420.00 441.00 21.00 1.575 0.161 00-075 459.00 522.00 63.00 1.909 0.188 Including 502.50 520.90 18.40 3.083 0.313 00-075 571.70 625.50 53.80 1.372 0.130 Including 606.00 612.00 6.00 3.015 0.357 00-207 447.00 556.00 109.00 1.363 0.150 00-207 654.00 711.00 57.00 2.405 0.154 Including 684.00 708.00 24.00 3.949 0.241 00-208 819.00 831.00 12.00 1.301 0.133 00-208 951.95 1071.00 119.05 1.195 0.101 Including 981.00 990.00 9.00 2.453 0.196 Including 1005.00 1017.00 12.00 2.294 0.206 00-069 321.00 331.00 10.00 1.097 0.128 00-069 365.00 377.85 12.85 1.272 0.138 Hole # Pt Cu NiTrue width (g/t) % % (m) North Roby Zone 00-055 0.145 0.018 0.022 48 Including 0.271 0.009 0.009 00-200 0.196 0.018 0.014 NA 00-041 0.151 0.016 0.029 29 Including 0.257 0.006 0.023 Twilight and Roby Zone (at Depth) 00-106 0.132 0.095 0.049 10 00-106 0.135 0.066 0.042 10 00-106 0.171 0.037 0.041 78 Including 0.580 0.060 0.084 00-106 0.202 0.052 0.054 60 Including 0.295 0.065 0.077 Including 0.545 0.150 0.108 00-107 0.242 0.036 0.054 60 Including 0.429 0.064 0.097 00-097 0.247 0.076 0.072 60 Including 0.260 0.041 0.028 Including 0.463 0.128 0.128 Including 0.443 0.181 0.145 00-077 0.189 0.075 0.056 105 Hole # Pt Cu NiTrue width (g/t) % % (m) Including 0.403 0.183 0.129 40 00-077 0.148 0.049 0.037 00-075 0.176 0.080 0.059 NA Including 0.560 0.221 0.182 00-075 0.205 0.089 0.060 21 00-075 0.236 0.105 0.077 63 Including 0.386 0.152 0.115 00-075 0.172 0.055 0.049 38 Including 0.415 0.169 0.120 00-207 0.117 0.004 0.049 130 00-207 0.227 0.004 0.052 Including 0.337 0.005 0.077 32 00-208 0.201 0.084 0.058 NA 00-208 0.157 0.050 0.044 NA Including 0.302 0.103 0.078 Including 0.278 0.066 0.058 00-069 0.119 0.054 0.045 NA 00-069 0.152 0.037 0.037 NA Note: Palladium (Pd), Gold (Au), and Platinum (Pt) are reported in grams per tonne (g/t). Copper (Cu) and Nickel (Ni) are reported in weight percent (%). True widths are estimates perpendicular to the dip on drill sections