biz.yahoo.com
See full release for table of drill results, but here is the text!!
THUNDER BAY, Ontario--(BUSINESS WIRE)--Aug. 24, 2000--North American Palladium Ltd. (TSE:PDL. - news) is pleased to release results from the current 30,000m Phase 2 drilling program at the Company's Lac des Iles Mine, located 85 km north of Thunder Bay, Ontario.
From May 17 to August 3, 2000, with up to eight drills operating, a total of 27,282m of core drilling was completed in 59 holes. Phase 2 drilling is part of a 100,000m aggressive drilling program that has been planned for the Roby Zone in 2000. Results of step-out drill holes have essentially confirmed the extension of mineralization at depths up to 150m beyond the planned pit limits in the Roby and North Roby Zones. Step-out drilling not only extended mineralization to depth, but also intersected two new zones of mineralization near surface. One of these occurs 60m west of the central part of the Roby Zone and the second one 100m beneath the North Roby Zone. In addition, step-out holes drilled from the east in the South Roby Zone were extended to depth and intersected mineralization up to 300m deeper than the planned pit limits.
New Discoveries Ensure Continued Resource Expansion and Low Stripping Ratio
The newly discovered deep mineralization in the South Roby and the deep intercepts of high grade Pyroxenite mineralization encountered during Phase 1 demonstrate the opportunity for continued resource expansion by follow-up with in-fill drilling. The discovery of a new mineralized zone along the western planned pit limits, in addition to the Twilight mineralization near the eastern planned pit limits, will ensure that a low stripping ratio is maintained with the deepening of the pit.
Phase 2 drilling concentrated on deepening the central portion of the Roby Zone by drilling 45 holes on a 71 azimuth, underneath the western limit of the planned pit. A large proportion of the drilling was also dedicated to deepening the North Roby Zone by drilling 47 to 60 holes on a 307 azimuth. A lesser number of holes investigated the Twilight Zone, the deeper extension of the South Roby and the southeastern extension of the Roby Zone near surface by drilling at 45 on a 251 azimuth. As such, many of these holes have multiple intercepts (see details of results in attached table).
North Roby Zone Improves With Depth
Twenty-two holes on the North Roby Zone have intercept widths ranging from 9.6m to 105m, representing true widths of 9m to 85m. The best intercept, in hole # 00-008, has a length of 105m grading 1.078 g/t Pd, including 6m grading 5.925 g/t Pd and 3m grading 6.81 g/t Pd. As seen on section 700NR, two holes above hole 00-008, (holes 00-003 and 00-006) have multiple intercepts which are interpreted to merge with depth. This pattern repeats itself on sections 800NR and 900NR which contains hole 00-0014 with an intercept of 69m grading 0.627 g/t Pd, and hole 00-022 with an intercept of 74.85m grading 0.977 g/t Pd. It therefore appears that the North Roby Zone is improving with depth.
New Mineralization Intercepted at Depth and at Surface
Ten holes collared on the southeastern extension of the Roby Zone contain multiple intercepts representing mineralization within the southeastern extension of the Roby Zone, Twilight Zone, South Roby, Pyroxenite and new intercepts at depth. These holes are represented on sections 499, 500 and 503. Mineralization intercepted in the southeastern extension was first discovered on surface during the 1999 exploration program. In hole 00-062, the intercept from the southeastern extension was 48m grading 1.237 g/t Pd. With only a few holes in this area to date, the full extent of this mineralization has yet to be defined. Hole 00-062 also intercepted the South Roby Zone with a 25.65m intercept grading 1.862 g/t Pd and deep mineralization 200m beneath the planned pit limits with an intercept of 33m grading 1.502 g/t Pd. Significant mineralization was intercepted at depth in several holes. Hole 00-074 contained two deep intercepts, 145.1m grading 1.26 g/t Pd and 64.3m grading 1.082 g/t Pd at vertical depths of 314m to 487m and 526m to 578m, respectively. Hole 00-067 has an intercept of 112.5m grading 1.179 g/t Pd. These deep intercepts, combined with those from Phase 1, have created an opportunity to expand the resources with further drilling. This mineralization is open to surface and laterally, and may possibly be joined with the Roby Zone where 60m to the north, and at similar depths, hole 00-091 has an intercept of 159m grading 1.377 g/t Pd.
Pyroxenite mineralization was intercepted by hole 00-098 with 46.5m grading 2.822 g/t Pd, including 13.6m grading 4.933 g/t Pd. This new Pyroxenite mineralization which has been intercepted by 4 holes to date, is within 100m of the planned pit limit and its full extent has yet to be defined. The most significant new hole in the Twilight Zone is hole # 00-094, which intercepted 196.94m grading 1.472 g/t Pd.
Long Intercepts Add Volume and Discover New Mineralized Zones Near Surface
A significant volume of mineralization was added to the Breccia Ore of the Roby Zone which is represented by holes 00-091, 00-092, 00-093 on section 503, and holes 00-129 and 00-130 on section 507, the latter 2 holes also intercepting new mineralization near surface west of the Roby Zone. Hole 00-129 intercepted 90m grading 1.835 g/t Pd and hole 00-130 intercepted 132m grading 1.695 g/t Pd within the new zone. Within the Roby Zone, hole 00-129 had multiple intercepts, the best intercept being 208.2m grading 0.768 g/t Pd and hole 00-130 had an intercept of 430.5m grading 0.869 g/t Pd. On section 503, all holes have multiple intercepts. Hole 00-091 contained intercepts of 81.12m and 159m grading 1.154 g/t Pd and 1.377 g/t Pd, respectively. Other noteworthy holes include; hole 00-100 with a 315m intercept grading 1.537 g/t Pd, including 21m grading 6.438 g/t Pd, hole 00-101 with a 258.65m intercept grading 1.689 g/t Pd, hole 00-109 with an intercept of 414m grading 0.974 g/t Pd, hole 00-119 with two intercepts of 232.32m grading 1.22 g/t Pd and 95.88m grading 0.925 g/t Pd and hole 00-177 with a 586.5m intercept grading 0.757 g/t Pd.
A new mineralized zone was intercepted by hole 00-201, on section 520. This hole had a 358.8m intercept grading 0.510 g/t Pd, but also contains 0.406 g/t Au. The mineralization intercepted by this hole is in the footwall of the North Roby Zone and will require further drilling to delineate. Gold rich mineralization was intercepted by several other holes, up to 180m to the south. Hole 00-183 contains assay values as high as 1.537 g/t Au. ¶ 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 is a vital and essential component in the production of auto catalysts, which significantly reduce harmful automobile emissions. World demand for palladium continues to increase as a result of legislation enforcing stricter vehicle emission limits. |
