North American Palladium Announces Drill Results from Shebandowan Nickel/Copper Project
Market Wire, September, 2006
North American Palladium Ltd. ("NAP") (TSX: PDL)(AMEX: PAL) is pleased to announce drill results from a twenty-one hole drill campaign totaling 4,010 metres at the Shebandowan Nickel/Copper Project located approximately 100 km southwest of its 100% owned Lac des Iles Mine, Ontario. The Option Joint Venture with Inco Limited ("Inco") entitles NAP to earn a 50% interest in the Shebandowan Property (see press release June 20, 2006).
The recently completed drill program was an expansion of the originally proposed fifteen hole program focused on testing an area west of the Number 1 Shaft, the "West" Zone and "Road" Zone along strike of the past producing Shebandowan mine (See maps attached: http://www.ccnmatthews.com/docs/shebwestroad11.pdf ). Sixteen holes (SP-06-001 to 14 and SP-06-016,017) were drilled to test the West Zone, while three holes (SP06-015,018 and 019) tested the Road Zone.
Table 1 Drill Hole Collar Location
(Table 2 Drill Hole Assay Results Attached)
------------------------------------------------------------------------
WEST ZONE e n elev Azi dip depth comments
------------------------------------------------------------------------
SP06-001 701312 5386533 472.0 175 -45 174 section 148E
------------------------------------------------------------------------
SP06-002 701272 5386552 487.0 197 -50 173 section 146E
------------------------------------------------------------------------
SP06-003 701261 5386598 487.0 197 -50 273 section 145E
------------------------------------------------------------------------
SP06-004 701261 5386598 487.0 197 -70 354 section 145E
------------------------------------------------------------------------
SP06-005 701183 5386568 466.8 197 -50 111 section 143E
------------------------------------------------------------------------
SP06-006 701183 5386568 466.8 197 -75 177 section 143E
------------------------------------------------------------------------
SP06-007 701144 5386626 465.8 198 -45 171 section 141E
------------------------------------------------------------------------
SP06-008 701145 5386579 465.8 198 -45 138 section 142E
------------------------------------------------------------------------
SP06-009 701088 5386635 463.4 197 -48 219 section 139E
------------------------------------------------------------------------
SP06-010 701022 5386657 462.4 195 -45 234 section 137E
------------------------------------------------------------------------
SP06-011 701077 5386595 462.8 197 -45 171 section 139E
------------------------------------------------------------------------
SP06-012 701312 5386533 472.0 168 -73 246 section 148E
------------------------------------------------------------------------
SP06-013 701191 5386661 456.5 197 -60 291 section 142E
------------------------------------------------------------------------
SP06-014 701223 5386580 462.6 197.5 -55 168 section 144E
------------------------------------------------------------------------
SP06-016 701240 5386547 481.4 197 -45 138 section 145E
------------------------------------------------------------------------
SP06-017 701279 5386574 486.0 197 -57 252 section 146E
------------------------------------------------------------------------
ROAD ZONE
------------------------------------------------------------------------
SP06-015 700715 5386721 460.0 197 -45 162 section 126E
------------------------------------------------------------------------
SP06-018 700689 5386754 459.1 195 -43.5 171 section 125E
------------------------------------------------------------------------
SP06-019 700790 5386695 461.4 197 -50 150 section 129E
------------------------------------------------------------------------
D ZONE AU TARGET
------------------------------------------------------------------------
targeted the Au
hosting
porphyry
SP06-020 700223 5386796 464.0 197 -45 120 near D-zone
------------------------------------------------------------------------
targeted the Au
hosting
porphyry
SP06-021 700259 5386784 464.0 197 -45 117 near D-zone
------------------------------------------------------------------------
4010m
------------------------------------------------------------------------
Holes SP06-020 and 021 targeted a narrow, yet high grade auriferous, altered feldspar-porphyry within a sericite schist hosted by Timiskaming Metavolcanics that intersected 25.689 g/t gold over 1.20 metres from 185.5 -186.70 metres in Hole SP05-008. Hole SP06-021 intersected 5.07 metres of sericite schist but contained only anomalous gold values (0.419 g/t over 1.07 metres).
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