FINLAND - Canadas only primary producer of palladium, Toronto-based NORTH AMERICAN PALLADIUM (NAP), has completed its drilling program on three targets at the Arctic platinum project, a joint venture with GOLD FIELDS LIMITED. The targets form part of the Narkaus property near Rovaniemi.
The Narkaus property covers approximately a 20-km strike length of highly favourable host rock considered to be under-explored. The best assay from the Kuohunki underground target was 17.6 g/t Pd-Pt-Au plus copper and nickel over 1.0 m, and from the Siika-Kama underground target was 8.2 g/t Pd-Pt-Au plus copper and nickel over 1.0 m. A Siika-Kama open pit target was also drilled, and it assayed as high as 7.8 g/t Pd-Pt-Au over 17.9 m.
The Narkaus property is located 20 km northeast of the Suhanko property, for which Gold Fields produced a feasibility study in 2005. NAPs recent drill campaign has been focused on the near-surface potential of known mineralization at the Narkaus property in order to enhance the economics of the larger Suhanko property and consider alternate development scenarios. While the mineralized zones at Narkaus are smaller than those at Suhanko, the drilling results support the belief that they are higher in grade.
Facts about NAPs Lac des Iles palladium mine 85 km north of Thunder Bay, Ont., are available at www.NAPalladium.com.