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PALLADIUM EXPLORATION NEWS Underground Mine Possible at Lac des Iles

THUNDER BAY, Ont. NORTH AMERICAN PALLADIUM is studying the feasibility of going underground at its Lac des Iles p...


THUNDER BAY, Ont. NORTH AMERICAN PALLADIUM is studying the feasibility of going underground at its Lac des Iles palladium mine. Last year’s drilling indicated that an economic bulk mining operation may be possible directly below the open pit. The program confirmed the continuity and high-grade nature of the Main high-grade zone.

Based on the results of the 2002 drill program, the company says the average true width of the Main high-grade zone is 11.81 m grading 6.1 g/t Pd. There were also five intercepts longer than 10 m with grades over 10 g/t. The best assay was 19.1 m at 11.9 g/t Pd.

North American has hired ROSCOE POSTLE ASSOCIATES to conduct the feasibility study. It should be complete in May 2003. It will include an updated estimate of reserves and resources.

Meanwhile, North American is proceeding with diamond drilling of the various zones at Lac des Iles. It will also conduct grassroots exploration of new properties within 100 km of the mine.

Lac des Iles is Canada’s only primary producer of platinum group metals. To learn more visit www.napalladium.com


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