North American Palladium doubles Lac des les resource

The Lac des les palladium deposit in northern Ontario has just doubled in size.

AGRA Simons, retained by mine owner North American Palladium (PDL-T) to perform a feasibility study, estimates a measured and indicated resource of 94.1 million tonnes averaging 1.66 grams palladium and 0.18 grams platinum per tonne, plus 0.14 gram gold, 0.062% copper and 0.053% nickel. The calculation is based on a palladium cutoff grade of 0.7 gram and 93,415 metres of drilling in 419 diamond drill holes and 183 percussion holes.

The previous estimate, tabled in August, was 38.8 million tonnes grading 2.4 grams palladium, plus 0.21 gram platinum, 0.21 gram gold, 0.075% copper and 0.092% nickel.

AGRA envisions a 15,000-tonne-per-day mill, significantly larger than the 2,400-tonne-per-day flotation mill currently in operation.

The deposit is hosted by the Roby zone, which has been delineated to a depth of 500 metres and a strike length of more than 1,000 metres.

The results of the feasibility study are expected in late 1999.