Canadian Palladium Receives MT Survey Results and Identifies New Drill Targets at East Bull Palladium Project
FOR IMMEDIATE RELEASE
CANADIAN PALLADIUM RECEIVES MAGNETOTELLURIC (MT) SURVEY RESULTS AND IDENTIFIES
NEW DRILL TARGETS AT EAST BULL PALLADIUM PROJECT, SUDBURY AREA, ONTARIO
Vancouver, British Columbia, July 23, 2020 – Canadian Palladium Resources Inc. (formerly 21C
Metals Inc.) (the "Company") (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) is pleased to announce
that the Company has received 2D and 3D interpretations for the recently completed
magnetotelluric (MT) survey on the Company’s East Bul l Palladium Project , located in the
Sudbury mining district, Ontario . The results identify two new, shallow drill targets that are
adjacent to the Valhalla Deposit palladium resource.
The MT method is an electromagnetic geophysical method with excellent depth penetration and
is capable of detecting disseminated sulphide mineralization associated with the high palladium
tenor sulphides found on the Company’s East Bull Property.
Target Models - The palladium exploration targets at the East Bull Project include:
• Near-surface “contact-type” palladium mineralization with grades and widths similar to
that found at the Valhalla Deposit on the East Bull Property;
• Higher-grade “layered mineralization” with grades and widths similar to the higher
grade intervals that the Company has intersected in the upper part of the Valhalla
Deposit;
• Potential structurally controlled “conduit-type” targets that may be vertically extensive.
The MT method has recently been used to successfully target discrete, low resistivity Palladium
rich zones at Sunday Lake, Ontario ( https://impalacanada.com/investors/news/news-
details/2019/North-American-Palladium-Announces-Major-Expansion-to-Sunday-Lake-PGM-
Zone-and-Best-Drilling-Results-to-Date/default.aspx). Results from the current survey indicate
that there is a response to known surface mineralization at East Bull and major structural features
such as the Folson Deformation Zone. This demonstrates the effectiveness of the MT method
for these target models.
Survey - Data for the Spartan MT survey was completed by Quantec Geoscience in early May
2020. The Company participated in Line 1, a 4.5 km line oriented at 060o that was part of a
larger survey completed for Grid Metals Corp. Approximately 2 km of Line 1 was on the
Company’s property.
Results - Analysis and interpretation of the MT survey results was completed by Mr. Kevin
Stevens of Stevens Geophysics Inc. A section of the 3D inversion (Figure 1) of the SW part of MT
Line 1 on Canadian Palladium’s East Bull Property shows the colour contoured resistivity ranging
from low of <1,000 ohm -m (orange) to high of >10,000 ohm -m (blue). The section s hows the
Valhalla Palladium Deposit with previous drill holes as an area of lower resistivity. The Valhalla
Deposit actually dips to the north, with the MT section showing a shallow apparent dip to the NE
due to MT Line crossing the deposit at an oblique angle. The Folson Deformation Zone (FDZ) is
associated with the truncation of the resistivity low associated with the potential extension of
the Valhalla Deposit.
Drill Targets - Prospective targets are defined by resistivity lows. Targets at depths of less than
500 m are amenable to drill testing in the current program. Target 1 on Figure 1, potentially
represents a down dip extension of the Valhalla Deposit to a depth of approximately 300 m which
is considerably deeper than previous drilling. Target 2 is an area of lower resistivity located at
400 m depth and is southwest of the Valhalla Deposit. This may be related to a conductor located
south of the Valhalla Deposit that was identified in a 2007 VTEM airborne survey by previous
operators. The l ocation of a Maxwe ll conductive plate model for a bore hole electromagnetic
anomaly (BHEM plate) in hole ME -00-19 is also shown. This BHEM plate also corresponds with
the VTEM conductor. Target 2 may be located near the base of the East Bull intrusion or in mafic
metavolcanic host rocks.
Mr. Wayne Tisdale, CEO, commented, “Canadian Palladium is currently drilling at East Bull. We
plan to test these new, high-quality MT drill targets that have the potential to significantly expand
the palladium resource on this project. The new targets are relatively shallow with depths of less
than 500 m and we will have an opportunity to test them during the current drill program. We
look forward to some exciting results from this drilling.”
Mr. Garry Clark, P. Geo., of Clark Explorat ion Consulting, is the “Qualified Person” as defined in
NI 43-101, who has reviewed and approved the technical content in this press release.
FIGURE 1: Colour contoured 2D apparent resistivity section for part of MT Line 1 on Canadian
Palladium’s East Bull Property. Resistivity ranges from lows of <1,000 ohm- m (orange) to highs
of >10,000 ohm -m (blue). Section shows NE dip of Valhalla Deposit and sub -vertical Folson
Deformation Zone (FDZ). Drill targets are indicated by resistivity lows at depths of 300 to 400 m.
Location of a Maxwell conductive plate model for a bore hole electromagnetic anomaly (BHEM
plate) in hole ME-00-19 is also shown.
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 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
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