Paladin Energy aims to crack uranium big league with Canadian takeover
Paladin would churn out 10% of global uranium output after combining production of its Namibian mine with Fission’s Canadian project.
Recent drilling has defined a strike length of over 2.5 km at the East Bull palladium deposit, 90 km west of Sudbury, Ontario. The property, on which Canadian Palladium Resources (CSE:BULL) holds a 100% option, hosts near-continuous disseminated sulphide mineralization with palladium, platinum, rhodium, gold and base metals.
The company recently released assays from five recent drill holes between the Valhalla and Garden zones. Hole EB-20-43 cut two intervals at the west end of the Valhalla zone, one of 1.71 grams palladium equivalent per tonne over7.0 metres, and the other at 1.44 grams palladium equivalent over 10.0 metres.
The holes were also tested for rhodium. Four of the holes had assays of 0.983 gram rhodium per tonne (6.30 grams three platinum group metals plus gold over 6.0 metres), 0.065 gram rhodium (4.85 grams 3PGM+gold over 3.0 metres), 0.108 gram rhodium (6.60 3PGM+gold over 3.0 metres), and 0.153 gram rhodium (4.90 grams 3PGM+gold over 2.0 metres). Rhodium will be included as part of the 3PGM equivalent when all assays are received.
Canadian Palladium continues to drill at East Bull. Drilling recently intersected a western continuation of the Garden zone, and assays are pending. Palladium mineralization is hosted in a 45-degree, north-dipping vari-textured gabbro unit near the basal contact of the East Bull gabbro, noted the company.
(This article first appeared in The Northern Miner)
