Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Canadian Palladium Resources (CSE: BULL) announced positive results from its drilling campaign at the East Bull palladium property in Ontario, Canada.
In a press release, the miner previously known as 21C Metals said results for diamond drill holes EB-20-01 to EB-20-06 show that EB-20-01 yielded 3.32 palladium g/t at from 28 to 35 metres; EB-20-03 yielded 3.63 palladium g/t from 27 to 31 metres; and EB-20-07 yielded palladium g/t from 109 to 118 metres.
The initial three holes of the 2020 diamond drill program evaluated a strike length of ~50 metres testing 50 to 75 metres below surface
“The company has completed 10 diamond drill holes (1,841 metres) prior to shutting down with the covid-19 pandemic,” Canadian Palladium said in the media brief.
“The diamond drilling to date has focused on the east end of the Valhalla Zone testing the palladium zone to determine if there are structural controls and continuity downdip and along strike within the inferred resource.”
According to the company, previous work had indicated a relationship of chalcopyrite and palladium values but with the results returned to date, there seem to be palladium values in some cases that are not related to visible chalcopyrite.
The 992-hectare East Bull property is located in Gerow Township. Historical exploration has resulted in a 43-101 compliant resources estimate of 11.1m tonnes of ore at a grade of 1.46g/t PdEq for a total of 523,000 ounces of palladium.
