Vancouver, British Columbia–(Newsfile Corp. – June 24, 2020) – Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) (formerly 21C Metals Inc.) (the “Company”) is pleased to announce the analytical results for diamond drill hole EB-20-12 on its East Bull Palladium Property, 90 kilometres west of Sudbury, Ontario. The company is continuing to drill in the Valhalla Zone in order to confirm its thesis regarding structural controls as well as downdip continuity and along strike (See Press Release July 3, 2019).
Hole EB -20-12 is located on the eastern end of the Valhalla Zone, consistent with the Company’s recent exploration work. The Company will now move the program west to further advance the assessment of continuity between the Valhalla and Garden Zones.
Wayne Tisdale, president, commented: “These early results from our diamond drilling program continues to confirm our anticipated Palladium values. These are all near surface resulting in a resource which could be extracted using a simple open cut method. We will continue our diamond drilling along strike and at shallow depths to refine our model. We continue to show significant additional Palladium potential on our East Bull Property.”
Diamond Drill Hole EB-20-12
Azimuth 180 degrees, -45 degree dip
405792E 5141641 N, (Zone 17, NAD 83)
|Palladium Gm/T||Palladium Gm/T|
|Blank||< 2||< 5||< 5|
|53.00||54.00||1.00||60||424||1190||1.19||2.68 / 3 m|
|Duplicate of 1022469||48||321||1030||1.03|
|62.00||63.00||1.00||77||1060||3220||3.22||2.28 / 3 m|
|64.00||65.00||1.00||97||338||1010||1.01||1.32 / 20 m|
|66.00||67.00||1.00||26||188||531||0.53||1.24 / 22 m|
Note: 1000 ppb equals 1 gram/ton
Individual demarked samples were sawn in half, bagged, sealed and transported by courier to Activation Laboratories (ISO/IEC 17025 Certified) in Ancaster Ontario. Blanks and standards were introduced to the sample stream as illustrated. Each sample was analysed using the Activation Laboratories codes RX1, 1C-OES 50 g (Au, Pt, Pd); 1F2 Total Digestion ICP.
Intercept widths are core width true widths will be determined by additional drilling. With the historic drilling the zone was inferred to have a -45 degree dip northerly.
Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.
Canadian Palladium Resources Inc.
Wayne Tisdale, President and CEO
T: (604) 639-4472
This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the advancement of drilling program and the palladium potential on the East Bull property. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in water disposal facility operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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