Canadian Palladium's Valhalla Zone Continues to Yield Consistent Palladium Results at East Bull
Vancouver, May 13, 2020 - Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) (formerly 21C Metals Inc.) (the "Company") is pleased to announce the analytical sample complete results for diamond drill holes EB-20-01 to EB-20-10 (EB-20-11 paused) on it's East Bull Palladium Property, 90 kilometres west of Sudbury, Ontario. The Company has completed 10 diamond drill holes (1841 metres) prior to shutting down with the COVID-19 pandemic. Further, the MT survey previously announced has been completed and is being interpreted.
The diamond drilling to date has focused on the east end of the Valhalla Zone testing the Palladium zone to determine if there are structural controls and continuity downdip and along strike within the inferred resource (see press release dated July 3, 2019).
Significant Diamond Drill Intercepts
| Hole | From Metres | To Metres | Length Metres | Palladium Grams/Ton | |
| EB-20-01 | 28.0 | 38.0 | 10.0 | 2.50 | 1.12 |
| includes | 28.0 | 35.0 | 7.0 | 3.32 | 1.51 |
| EB-20-02 | 37.0 | 42.0 | 5.0 | 1.14 | 0.39 |
| EB-20-03 | 27.0 | 38.0 | 11.0 | 1.61 | 0.69 |
| includes | 27.0 | 31.0 | 4.0 | 3.63 | 1.31 |
| EB-20-06 | 70.0 | 74.0 | 4.0 | 0.78 | 0.22 |
| EB-20-07 | 109.0 | 118.0 | 9.0 | 2.14 | 0.82 |
| includes | 109.0 | 115.0 | 6.0 | 2.82 | 1.06 |
| 124.00 | 134.00 | 10.00 | 0.55 | 0.22 | |
| EB-20_08 | 66.00 | 71.00 | 5.00 | 0.62 | 0.30 |
| EB-20-09 | 58.00 | 62.99 | 4.00 | 0.92 | 0.90 |
Highlighted results are recent
Individual Intercepts of EB-20-01 to EB-20-10
Note: 1000 ppb equals 1 gram/ton
| Hole | From Metres | To Metres | Length Metres | PD ppb | PT ppb | AU ppb | Comments |
| EB-20-01 | 28.00 | 38.00 | 10.0 | 2500 | |||
| 28.00 | 29.00 | 1.00 | 2830 | 1810 | 75 | First sample, need to add samples above | |
| 29.00 | 30.00 | 1.00 | 5040 | 2650 | 230 | ||
| 30.00 | 31.00 | 1.00 | 5530 | 2670 | 454 | ||
| Duplicate of 587753 | 5760 | 2620 | 466 | ||||
| 31.00 | 32.00 | 1.00 | 2620 | 1010 | 170 | ||
| 32.00 | 33.00 | 1.00 | 3840 | 1370 | 173 | ||
| 33.00 | 34.00 | 1.00 | 2010 | 671 | 120 | ||
| 34.00 | 35.00 | 1.00 | 1260 | 421 | 135 | ||
| 35.00 | 36.00 | 1.00 | 968 | 272 | 51 | ||
| 36.00 | 37.00 | 1.00 | 198 | 83 | 12 | ||
| Standard CDN-PGMS-19 | 465 | 115 | 214 | ||||
| 37.00 | 38.00 | 1.00 | 639 | 296 | 36 | ||
| EB-20-02 | 37.0 | 42.0 | 5.0 | 1136 | |||
| 37.00 | 38.00 | 1.0 | 1230 | 470 | 49 | First sample, need to add samples above | |
| 38.00 | 39.00 | 1.0 | 1410 | 435 | 60 | ||
| 39.00 | 40.00 | 1.0 | 785 | 261 | 61 | ||
| 40.00 | 41.00 | 1.0 | 1940 | 670 | 62 | ||
| Standard CDN-PGMS-19 | 504 | 118 | 219 | ||||
| 41.00 | 42.00 | 1.0 | 317 | 88 | 25 | ||
| EB-20-03 | 27.00 | 38.0 | 11.0 | 1613 | |||
| includes | 27.00 | 31.0 | 4.0 | 3627 | |||
| 27.00 | 28.00 | 1.00 | 941 | 447 | 21 | First sample, need to add samples above | |
| 28.00 | 29.00 | 1.00 | 4310 | 2560 | 177 | ||
| 29.00 | 30.00 | 1.00 | 2880 | 1360 | 225 | ||
| 30.00 | 31.00 | 1.00 | 2020 | 833 | 56 | ||
| Duplicate of 587689 | 2230 | 912 | 49 | ||||
| 31.00 | 32.00 | 1.00 | 813 | 289 | 51 | ||
| 32.00 | 33.00 | 1.00 | 1330 | 496 | 60 | ||
| 33.00 | 34.00 | 1.00 | 821 | 262 | 48 | ||
| 34.00 | 35.00 | 1.00 | 1020 | 312 | 83 | ||
| 35.00 | 36.00 | 1.00 | 1270 | 378 | 73 | ||
| 36.00 | 37.00 | 1.00 | 778 | 211 | 112 | ||
| 37.00 | 38.00 | 1.00 | 1460 | 447 | 109 | ||
| EB-20-04 | No significant Values | Additional samples required | |||||
| EB-20-05 | No significant Values | Additional samples required | |||||
| EB-20-06 | 70.00 | 74.00 | 4.00 | 784 | |||
| 70.00 | 71.00 | 1.00 | 535 | 123 | 17 | Additional samples required | |
| 71.00 | 72.00 | 1.00 | 1390 | 395 | 71 | ||
| 72.00 | 73.00 | 1.00 | 356 | 90 | 20 | ||
| 73.00 | 74.00 | 1.00 | 853 | 270 | 55 | ||
| EB-20-07 | 58.00 | 59.00 | 1.00 | 4010 | 2130 | 24 | |
| 70.00 | 71.00 | 1.00 | 1250 | 493 | 79 | ||
| 109.00 | 118.00 | 9.00 | 2141 | ||||
| includes | 109.00 | 115.00 | 6.00 | 2823 | |||
| 109.00 | 110.00 | 1.00 | 2310 | 428 | 91 | ||
| Standard | 488 | 105 | 202 | ||||
| 110.00 | 111.00 | 1.00 | 1450 | 682 | 284 | ||
| 111.00 | 112.00 | 1.00 | 509 | 453 | 15 | ||
| 112.00 | 113.00 | 1.00 | 8190 | 3010 | 264 | ||
| 113.00 | 114.00 | 1.00 | 731 | 361 | 289 | ||
| 114.00 | 115.00 | 1.00 | 3750 | 1430 | 140 | ||
| 115.00 | 116.00 | 1.00 | 785 | 438 | 49 | ||
| 116.00 | 117.00 | 1.00 | 811 | 332 | 55 | ||
| 117.00 | 118.00 | 1.00 | 735 | 271 | 88 | ||
| NEW REPORTING OF RESULTS BELOW | |||||||
| 124.00 | 134.00 | 10.00 | 545 | 218 | 53 | ||
| 124.00 | 125.00 | 1.00 | 703 | 228 | 25 | ||
| 125.00 | 126.00 | 1.00 | 365 | 159 | 37 | ||
| 126.00 | 127.00 | 1.00 | 933 | 445 | 105 | ||
| 127.00 | 128.00 | 1.00 | 1290 | 580 | 140 | ||
| Blank | 6 | < 5 | < 2 | ||||
| 128.00 | 129.00 | 1.00 | 476 | 229 | 78 | ||
| 129.00 | 130.00 | 1.00 | 107 | 51 | 17 | ||
| 130.00 | 131.00 | 1.00 | 450 | 160 | 32 | ||
| 131.00 | 132.00 | 1.00 | 219 | 71 | 15 | ||
| 132.00 | 133.00 | 1.00 | 626 | 193 | 52 | ||
| 133.00 | 134.00 | 1.00 | 190 | 65 | 32 | ||
| EB-20_08 | 66.00 | 71.00 | 5.00 | 624 | 299 | 59 | |
| 66.00 | 67.00 | 1.00 | 635 | 246 | 72 | ||
| 67.00 | 68.00 | 1.00 | 291 | 122 | 64 | ||
| 68.00 | 69.00 | 1.00 | 1560 | 843 | 66 | ||
| 69.00 | 70.00 | 1.00 | 149 | 40 | 46 | ||
| 70.00 | 71.00 | 1.00 | 483 | 246 | 48 | ||
| EB-20-09 | 58.00 | 62.99 | 4.00 | 922 | 899 | 52 | |
| 58.00 | 59.00 | 1.00 | 407 | 150 | 25 | ||
| 59.00 | 60.00 | 1.00 | 173 | 108 | 19 | ||
| 60.00 | 61.00 | 1.00 | 2900 | 1580 | 123 | ||
| 61.00 | 62.00 | 1.00 | 196 | 111 | 36 | ||
| Duplicate of above | 42 | 124 | 223 | ||||
| EB-20-10 | No significant assays | Additional samples required | |||||
| EB-20-11 | Paused at 80 metres | Not to Target Yet | |||||
Individual demarked samples were sawn in half, bagged, sealed and transported by courier to Activation Laboratories (ISO/IEC 17025 Certified) in Ancaster Ontario. Duplicates 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.
Diamond Drill Hole Statistics
| HOLE-ID | UTM_E | UTM_N | Elevation | LENGTH | AZIMUTH | DIP | COMMENT |
| EB-20-01 | 405253 | 5141487 | 356 | 101 | 180 | -45 | |
| EB-20-02 | 405253 | 5141487 | 356 | 200 | 180 | -70 | |
| EB-20-03 | 405210 | 5141482 | 355 | 149 | 180 | -45 | |
| EB-20-04 | 405303 | 5141559 | 364.28 | 200 | 180 | -70 | |
| EB-20-05 | 405414 | 5141711 | 374 | 269 | 180 | -50 | |
| EB-20-06 | 405265 | 5141538 | 360 | 170 | 180 | -50 | |
| EB-20-07 | 405369 | 5141562 | 382 | 170 | 180 | -45 | |
| EB-20-08 | 405369 | 5141562 | 382 | 179 | 180 | -70 | |
| EB-20-09 | 405497 | 5141589 | 379 | 200 | 180 | -70 | |
| EB-20-10 | 405608 | 5141577 | 381.09 | 203 | 180 | -70 | |
| EB-20-11 | 405740 | 5141640 | 360 | 200 | 180 | -70 | In progress |
NAD 1983
Canadian Palladium has sent the significant Palladium zones for rhodium for analyse.
The Company expects to recommence the diamond drill program within two weeks, provided there are no changes in the COVID-19 pandemic effects in the Sudbury area.
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.
Wayne Tisdale commented, "The results from the drilling to date have continued to be what was expected and we are learning more about the Palladium mineralization. Our geological team await the MT modelling they believe will help in the definition of further targets. We are excited about getting the program fully started again in the next few weeks."
Canadian Palladium Resources Inc.
Wayne Tisdale, President and CEO
T: (604) 639-4472
Reader Advisory
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 re-commencement of drilling, which has been temporarily suspended due to COVID-19. 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.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55761