Impact: Very Positive
Canadian Palladium announced six holes of assays from the ongoing 15,000m drill program at its 100%-owned East Bull Palladium (EBP) deposit located 90km west of Sudbury, ON. We continue to see multiple wide intersections of palladium mineralization being identified. The new EOH Zone (previous known as the mineralized feeder dyke) has been confirmed and expanded, and Garden Zone has been extended along strike and down dip. This discovery of a thick, high grade feeder zone is relatively new and might ultimately help surpass its resource targets. We believe that Canadian Palladium is trading somewhat inline with its existing resource and not getting much credit for its potential expansion as it nears a resource update later this fall.