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Canadian Palladium Reports Complete Assay Results for First Ten Drill Holes at East Bull Palladium Project, Sudbury, intersects high-grade palladium Including 4m of 8.15 G/T

Aug 20, 2020

Canadian Palladium Resources Inc. has released complete assay results for the first ten (10) holes drilled on the company's East Bull Palladium Project near Sudbury. The results include several high-grade palladium intersections with significant platinum (Pt), rhodium (Rh), gold (Au), and copper (Cu) with associated nickel (Ni) and cobalt (Co).

Results include: 

EB20-01 with 4.0 m at 8.15 g/t Palladium Equivalent (Pd-Eq);
EB20-03 with 3.0 m at 6.29 g/t Pd-Eq; and
EB20-07 with 3.0 m at 7.47 Pd-Eq.

These high-grade intervals are part of wider intervals of mineralization that include: 15.0 m at 2.69 g/t Pd-Eq in hole EB20-03; and 24.0 m at 2.14 g/t Pd-Eq in hole EB20-07.

Garry Clark P.Geo, Director commented, "Canadian Palladium is pleased with the results from the initial holes in this program. These intersections report complete assay results that include palladium, platinum, rhodium, gold, copper, nickel and cobalt. High-grade palladium intersections are rare and these results have exceeded our grade expectations based on Canadian Palladium's 2019 Inferred Mineral Resource Estimate of 523,000 oz Pd-Eq at a grade of 1.46 g/t Pd-Eq for East Bull. We look forward to releasing additional results on this exciting Project."

East Bull Target Models - Palladium exploration targets at the East Bull Project include: 

  • Near-surface "contact-type" palladium mineralization (ten's of meters thick) associated with disseminated sulphides in the "inclusion-bearing gabbro" on the southern margin of the East Bull Gabbro intrusion; and
  • High-grade "layered mineralization" (meters thick) associated with high PGM tenor sulphides in the upper part of the "inclusion bearing gabbro".

Additionally, there is discovery potential for structurally controlled "conduit-type" targets that may vertically extensive.

Drill Results - The reported intersections are located on the eastern portion of the Property. The results are part of a 10,000 m drill program with a primary objective of expanding the current Inferred Resource. High-grade intervals occur in the upper part of the "Valhalla Zone" and extend for over 150 m strike length from EB20-03 to EB20-07. A figure showing the hole locations is provided at the end of the release. Currently, drilling is focussed in the western portion of the Property.

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