Canadian Palladium Intersects 5.1 g/t Pd-Eq over 5.0 Metres, Identifies a New High-Grade Palladium Zone at East Bull Deposit, Sudbury Area
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FOR IMMEDIATE RELEASE
CANADIAN PALLADIUM INTERSECTS 5.1 g/t Pd-Eq OVER 5.0 METRES,
IDENTIFIES A NEW HIGH-GRADE PALLADIUM ZONE AT EAST BULL
DEPOSIT, SUDBURY AREA
Vancouver, British Columbia, December 4, 2020 – Canadian Palladium Resources Inc. (the
"Company") (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) is pleased to provide new
analytical results for five diamond drill holes EB-20-34, and EB-20-39 to EB-20-42 on the East
Bull Palladium Property, 90 kilometres west of Sudbury, Ontario.
Highlights include:
- a 28.0 m intersection of 1.97 g/t Palladium Equivalent (Pd-Eq) in drill hole EB-20-40); and
- 5.0 m of 5.10 g/t Pd-Eq, also from EB-20-40.
Wayne Tisdale, Canadian Palladium’s CEO, commented, “The East Bull drilling program
continues to return excellent results. We are very encouraged that we now have two adjacent holes
100 m apart that contain high-grade Palladium mineralization in the western part of the Valhalla
Zone. The new results in hole EB-20-40 combined with the intersection in EB-20-37 (see press
release dated November 23, 2020) demonstrate the potential for a high-grade component within
the wider disseminated mineralization envelope. Our drilling program continues to expand the near
surface mineralization of the Valhalla Zone westward towards the Garden Zone and beyond.”
Drill hole intercepts for holes EB-20-34 and EB-20-39 to EB-20-42 are reported in the following
table 1. Drill hole locations are provided at the end of the release and illustrated on the
accompanying map. To date all of the intercepts are shallow and within 150 m vertical depth
from surface. Results do not include Rhodium for which assays are in progress and is an
additional contribution to Pd-Eq at the East Bull Deposit.
Table 1: Diamond Drill Hole Results EB-20-34 and EB-20-39 to EB-20-42
Hole ID From
(Metres)
To
(Metres)
Width
(Metres) Pd g/t Pt g/t Au g/t Cu
% Ni % Co % 3PGM +
Au g/t
Pd Eq
Grams
per Ton
EB-20-34 263 264 1 2.170 0.514 0.101 0.011 0.013 0.003 2.790 3.021
also 295 302 7 0.171 0.137 0.030 0.057 0.023 0.006 0.337 0.585
EB-20-39 183 197 14 0.584 0.214 0.053 0.073 0.037 0.006 0.851 1.177
EB-20-40 117 145 28 0.967 0.347 0.088 0.139 0.069 0.007 1.402 1.970
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Hole ID From
(Metres)
To
(Metres)
Width
(Metres) Pd g/t Pt g/t Au g/t Cu
% Ni % Co % 3PGM +
Au g/t
Pd Eq
Grams
per Ton
including 121 126 5 2.846 0.965 0.197 0.246 0.129 0.008 4.009 5.097
also 153 156 3 0.477 0.294 0.028 0.093 0.045 0.007 0.799 1.193
EB-20-41 195 197 2 0.338 0.537 0.023 0.057 0.017 0.005 0.897 1.224
EB-20-42 216 223 7 0.712 0.250 0.065 0.121 0.054 0.009 1.027 1.521
1. Individual demarked samples were sawn in half, bagged, sealed and transported by courier to the
laboratory. Duplicates, blanks and standards were introduced to the sample stream on site. Hole
EB-20-34 was sent to Activation Laboratories (ISO/IEC 17025 Certified) in Ancaster Ontario.
Each sample was analysed using the Activation Laboratories codes RX1, 1C-OES 50 g (Au, Pt,
Pd); 1F2 Total Digestion ICP. Holes EB-20-39 to EB20-40 were sent to AGAT Laboratories,
Mississauga, Ontario. Each sample was analysed using the AGAT Laboratories codes 202555,
Fire Assay-ICP (50g); 201070, 4 Acid Digest / ICP-OES Finish.
2. Reported widths are drilled widths, with true widths estimated to be 90 per cent of drilled widths
for minus-60-degree-holes to approximately 85 per cent of drilled width for minus-70-degree holes.
3. Pd-Eq grade based on parameters in the May 23, 2019, NI 43-101 Resource Estimate and Technical
Report. Metal prices are based on 24-month trailing averages at January 31, 2018. In US$ these
prices are: Pd – $767/oz; Pt – $973/oz; Rh – $1,000/oz; Au – $1.262/oz; Cu – $2.53/lb; Ni –
$4.62/lb; Co – $20/lb.
The Company has strategically extended the drill program by an additional 2,000 metres to target
the connection of the Valhalla Zone and the Garden Zone mineralization and continue testing the
Palladium mineralization westward. To date, the Valhalla Zone drilling has produced consistent
results for over 1.5 kilometres strike length to vertical depths of 150 metres. The mineralization
remains open at depth and on strike.
The high-grade mineralization of EB-20-37 (5.60 g/t Pd Eq / 5 m) and EB-20-40 (5.10 g/t Pd / 5
m) are 100 metres on strike of each other. These drill holes identify a second high-grade zone
intersected within the Valhalla Zone, the first being drilled in EB-20-01 to EB-20-03 (see news
release dated March 2, 2020).
The Palladium mineralization is hosted within a 45° north dipping vari-textured gabbro unit near
the basal contact of the East Bull Gabbro. Drilling has successfully focused on testing the downdip
extension of this “contact-type” mineralization. Such mineralization structures are typically tens
of metres thick.
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.
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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 analytical results and exploration at the East Bull palladium 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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adequacy or accuracy of this release.
Appendix 1. Drill Hole Location information
HOLE-ID UTM_E UTM_N DEPTH
(m) AZIMUTH DIP
EB-20-34 405525 5141774 371 180 -60
EB-20-39 404502 5141650 269 180 -60
EB-20-40 404398 5141530 239 180 -60
EB-20-41 404301 5141530 239 180 -60
EB-20-42 404304 5141627 272 180 -60