Canadian Palladium reports broad, near-surface intercepts from East Bull

The most recent drill results from Canadian Palladium’s (CNSX: BULL; US-OTC: DCNNF) 9.9-sq.-km East Bull property, 90 km west of Sudbury, Ont., returned broad intercepts of near-surface palladium mineralization from an area down-dip of the current resource.

The preliminary results (which exclude rhodium values) are “the widest intervals of palladium mineralization reported to date at East Bull,” the company said in a Sept. 29 press release.

Drill highlights from the five holes include 71 metres of 1.1 grams per tonne palladium-equivalent (0.41 gram palladium per tonne, 0.16 gram platinum per tonne, 0.04 gram gold per tonne, 0.13% copper, 0.07% nickel and 0.01% cobalt) from a depth of 62 metres; 66 metres of 1.07 grams palladium-equivalent from a depth of 65 metres; and 54 metres of 0.97 gram palladium-equivalent starting at 89 metres.

The latest results are from within 135 vertical metres of surface and from the central part of the East Bull property.

Gary Clark, a director of the company, noted how these most recent assays could potentially expand the resource at East Bull. “The results present a favourable outcome for expanding a pit-constrained mineral resource estimate along strike and to depth,” he said in a statement.

The reported drill holes hit zones of palladium mineralization, associated with disseminated sulphides, over 250 metres of strike. This mineralized zone dips north at a 45-degree angle and has been traced over about 200 metres down-dip and remains open at depth and along strike.

A 10,000-metre drill program is ongoing at East Bull, aimed at expanding the inferred resource and assays for a further 14 holes are pending. These drill holes were completed to the east of the latest results.

A 2019 resource estimate for East Bull defined 11.1 million pit-constrained inferred tonnes, at 1.46 grams palladium-equivalent (0.58 gram palladium, 0.26 gram, 0.04 gram rhodium, 0.05 gram gold, 0.14% copper, 0.05% nickel and 0.01% cobalt), containing a total of 523,000 palladium-equivalent ounces.

East Bull covers over 3.6 km of a palladium-mineralized zone, which is part of the East Bull layered gabbroic intrusion. To date, this unit has been drilled over 1.8 km of strike.

Canadian Palladium acquired East Bull in 2019.

— This article first appeared in the Canadian Mining Journal, part of Glacier Resource Innovation Group.


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