British Columbia - Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) (the 'Company') is pleased to provide new assay results for drill holes EB-21-51, EB-21-52, and EB-21-53 at the East Bull Palladium Deposit, located 90 kilometres west of Sudbury, Ontario.
These drill holes extend the main Garden/Valhalla Zone palladium mineralization 250 m along strike to the west and intersected a new zone of mineralized inclusion-bearing gabbro located 50 m below the Garden Zone that is interpreted as a feeder dyke or magma conduit for the East Bull Intrusion.
Highlights of the current drill results are: Hole EB-21-52 intersected both the Garden Zone and a new mineralized inclusion-bearing gabbro that assayed 1.41 g/t Pd Eq over 7 m from 223.0 to 230.0 m, however, the hole terminated in mineralized gabbro. The Company plans to extend this hole to determine the full extent of the new zone that is interpreted as a feeder dyke; Hole EB-21-53 intersected 2.38 g/t Pd Eq over 6.0 m from 173.0 to 179.0 m. This interval is in the Garden Zone where mineralization is hosted in vari-textured gabbro that has shown consistent mineralization for over 2.5 km strike length.
Wayne Tisdale, Canadian Palladium's CEO, commented, 'The discovery of a deeper zone below the main Valhalla/Garden Zone mineralization presents exciting new potential for the East Bull Project. The Company's geologists consider that the new zone may be a mineralized feeder dyke or magma conduit that is a potentially favourable structure for localizing high-grade mineralization. We look forward to getting back on this new target as soon as site conditions permit access after spring breakup.'
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 (Pd-Eq).
The Company is currently drilling and assay results from holes EB-21-54 to EB-21-57 are in progress. The Valhalla/Garden Zone Palladium mineralization is hosted within a 45-degree north dipping vari-textured gabbro unit near the basal contact of the East Bull Gabbro. Drilling has successfully focused on testing the on strike and downdip extension of this 'contact-type' mineralization. Such mineralization structures are typically tens of metres thick.
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