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North American Palladium Ltd.
Summary
| Project: | Lac Ddes Iles | |
|---|---|---|
| Deposit: | Lac Ddes Iles | |
| Location: | Canada | |
| Commodities: | Palladium-Platinum-Gold-Copper-Nickel | |
| Date: | 5/29/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-5-2017: North American Palladium Ltd. announces a Resource Estimation report for its Lac Ddes Iles deposit at the Lac Ddes Iles project. Update of mineral resources and reserves at Lac des Iles. Toronto, Ontario, May 29th , 2017 – North American Pallad | |
| Resources: | (Reserve, P+P): 38.524Mt @ 2.25g/t Pd, 0.22g/t Pt, 0.19g/t Au, 0.06% Cu, 0.07% Ni at project | |
| CP/QP: | [Resources]: Chris Roney, Denis Decharte (Independent;Internal) | |
| ABSTRACT: | Toronto, Ontario, May 29th , 2017 – North American Palladium Ltd. (“NAP” or the “Company”) (TSX: PDL) (OTC PINK: PALDF) is pleased to announce an update to the Mineral Reserves and Mineral Resources estimates for its Lac des Iles Mine Property (“the Property”) in northwestern Ontario. The new estimates reflect the outcomes of a comprehensive review of all mineralized zones on the Property and relate to a new Technical Report (Feasibility Study) that the Company plans to publish in June. The new mine plan features a return to full time mill operations, expansion of underground bulk mining on the Offset Zone and a resumption of open pit mining operations. These developments will reduce unit costs of production and, combined with strong current and forward looking metal prices, will allow the Company to extract a higher proportion of the known mineral inventory at lower mining cut-off grades. “We are pleased to announce a significant increase to the Mineral Reserves at Lac de Iles that are the result of a diligent drilling and engineering effort underway since 2015. The updated Mineral Reserve provides the foundation for a planned, major expansion of the Lac des Iles Mine. We have completed a successful ramp-up of the new, lower-cost SLS mining method and will soon return to full-time mill operations. We have also added two recently discovered zones into the mine plan,” said Jim Gallagher, President and CEO of North American Palladium. “These developments are expected to translate into an increase in average annual palladium production over the next several years. They also demonstrate our ability to translate exploration success at Lac des Iles into new production on a condensed timeline. Management has also conducted a review of our expanded portfolio of exploration targets both at the mine site and several greenfield opportunities to set priorities for a planned increase in exploration drilling.” | |
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