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Canadian Palladium's defines 2.5 km strike length of mineralization at East Bull Deposit near Sudbury

Mar 10, 2021

Canadian Palladium Resources Inc. is providing new assay results for five diamond drill holes at the East Bull Palladium Deposit, located 90 kilometres west of Sudbury. These holes bridged the west end of the Valhalla Zone with the Garden Zone.  The drilling program has now defined over 2.5 km strike length of near-continuous disseminated sulphide mineralization hosting palladium, platinum, rhodium, gold and base metals.

A highlight from the current results is Hole EB-20-43 that intersected two mineralized intervals with 1.71 grams of Palladium equivalent (PdEq) over 7.0 metres and 1.44 grams PdEq over 10.0 metres at the west end of the Valhalla Zone. Holes EB-20-46 and -47 extended the Garden Zone east from previously drilled mineralization with 9.0 m of 1.16 g/t PdEq and 7.0 m of 1.30 g/t PdEq respectively. Hole EB-20-45 intersected the fault zone that separates the Valhalla and Garden Zones and did not encounter any significant values. The hole locations and selected intersections relative to the mineralized zones are shown in Figure 1 and Appendix 1 below.

Wayne Tisdale, Canadian Palladium's CEO, commented, "Our East Bull drilling program has succeeded in showing that this Deposit continues on strike to the west. We're very encouraged that we've been able to use our 2020 airborne magnetic survey to enhance our understanding of the Property geology and optimize our drill targeting. We look forward to updating the resource estimate for the Property at the conclusion of our drilling program."

Rhodium (Rh) is currently trading at an all-time high price of US$25,000/oz and the Company notes that rhodium is a significant component of East Bull mineralization.Previously reported high-grade intersections from the East Bull drilling program include the following rhodium (Rh) values:

  • EB-20-01 - 6.0 m at 6.30 g/t 3PGM+Au including 0.083 g/t Rh;
  • EB 20-03 - 3.0 m at 4.85 g/t 3PGM+Au including 0.065 g/t Rh;
  • EB-20-07 - 3.0 m at 6.06 g/t 3PGM+Au including 0.108 g/t Rh;
  • EB-20-12 - 2.0 m at 4.90 g/t 3PGM+Au including 0.153 g/t Rh.

The Company's protocol is to analyze Rh after initially assaying for palladium, platinum and gold. Once Rh results are received, the Rh concentrations will be reported and Rh will be included as a component of 3PGM (palladium+platinum+rhodium) and included in calculations of palladium equivalent (PdEq). At current prices Rh will be the second most important contributor to PdEq at East Bull after Pd itself.

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