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March 21, 2014
06:06 EDTPALNAP provides update on reserves, resources, life of mine plan for Lac des Iles
North American Palladium provided an update on its mineral reserve and resource estimates and life of mine plan for its Lac des Iles mine property in northwestern Ontario. An update of current 2014 operations and production at LDI is also provided. Palladium production and operating costs in January and February were ahead of guidance with positive variances in both months. Total reserves and resources of 5.2M ounces of contained Pd is an increase of 24% above the January 2013 technical report. Of the total reserve, underground reserve accounts for 9.2M tonnes at a diluted grade of 3.9 g/t Pd. Total reserve is 15M tonnes at a grade of 2.8 grams per tonne palladium which now includes salvage mining in the open pit and a portion of the low grade stockpile on surface. Total reserves increased by 140,000 of contained Pd to 1.3M ounces. This is an increase of 12% compared to the previous technical report. Total resources increased by 860,000 ounces of contained Pd to a total of 3.9M ounces. This is an increase of 28% compared to the previous technical report. Utilizing only proven and probable reserves, the current Life of Mine, or LOM, increases by one year to 2019 with annual production peaking over 200,000 payable ounces and a total mined reserve of 1.1M payable Pd ounces, an increase of approximately 34% from the 2013 technical report. This plan does not include the potential shaft extension to access the lower Offset zone. Management will focus on advancing work to potentially extend the LOM through the future successful conversion of resources into reserves.
News For PAL From The Last 14 Days
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July 14, 2014
17:08 EDTPALNorth American Palladium provides update on Lac Des Iles mine accident
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July 11, 2014
13:31 EDTPALNorth American Palladium reports fatality at Lac Des Iles Mine
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