Resource World Magazine

46 www.resourceworld.com A P R I L / M A Y 2 0 2 0 Jo'burg; IMPUF-OTC; IPHB-FSE], Vale S.A. [VALE-NYSE] and Northam Platinum Ltd. [NHM-Jo'burg]. Canadian Palladium Resources Inc. [BULL-CSE; DCNNF-OTCQB; DCR1-FSE], formerly 21C Metals Inc., has temporarily suspended drilling operations at its 100% optioned East Bull palladium property 90 km west of Sudbury, Ontario due to the State of Emergency caused by the COVID- 19 pandemic. The objective of the drilling is to expand the NI 43-101 Inferred Resource of 523,000 ounces of palladium equivalent. The resource is defined over 1.8 km along strike and drilled down dip (-45ᵒ) to 125 metres. The continuing program is testing the full 3-km length to a depth of 240 metres. The first drill hole (EB20-01) returned: • 3.32 g/t palladium over 7 metres; • 2.50 g/t palladium over 10 metres; • 3.77 g/t palladium + platinum + gold over 10 metres, including 7.13 g/t palla - dium + platinum + gold over 3 metres. Eastern Platinum Ltd. [ELR-TSX, LSE AIM; ELRFF-OTC; EPS-Jo'burg] has a number of PGM and chromium projects in South Africa. At the Crocodile River Mine (CRM), operations of the Retreatment Project began in December 2018 and reached over 89% capacity in September 2019. The project expanded to PGM recov - ery testing in Q2 2019 and assessments of PGM recoverability continue in late 2019. PGM concentrate is now being produced. Eastplats continues to actively monitor the PGM markets and other developments in the mining and minerals sector to assess economics related to the addition of a PGM recovery circuit as part of the Retreatment Project or resuming under - ground mining at CRM, currently on care and maintenance. Clean Air Metals Inc., which is in the process of changing its name from Regency Gold Corp. [RAU.H-NEX], has signed an option agreement with Benton Resources Inc. [BEX-TSXV] to earn a 100% interest in the Escape Lake property north of Thunder Bay, Ontario, subject to a 1.0% NSR to Rio Tinto. A second option agreement was signed to acquire the Thunder Bay North Project from Panoramic Resources via Benton. At Thunder Bay North, the Current Lake deposit has a historical Indicated Resource of 741,000 oz PtEq based on 2012 metals prices. The Escape Lake Project has a high-grade zone drilled by Rio Tinto that includes 33.4 metres of 7.28 g/t Pt+Pd+gold and 2.26% copper+nickel. The company plans to drill both proj - ects and prepare an updated mineral resource estimate. Generation Mining Ltd. [GENM-CSE; GENMF-OTC] is moving ahead with the Marathon palladium project 10 km north of Marathon, northwest Ontario. Generation has a 51% interest with an option to earn up to 80%. The property hosts three known PGM-copper deposits, which con - tain a resource of 8,668,000 PdEq oz in the Measured and Indicated categories, and an additional 915,000 PdEq oz in the Inferred category. A new seismic target has been dis- covered beneath the Sally deposit. An independent Preliminary Economic Assessment was recently prepared that provides a compelling base case assessment for an open pit mining operation. At two- year trailing metal prices, it estimated that for an upfront capital cost of $431 million, it would have an after-tax IRR of 30%, a NPV (5% discount) of $871 million, and an after-tax payback of 2.5 years. Grid Metals Corp. [GRDM-TSXV; MSMGF-OTC; NJF1-FSE] has identified drill targets for the upcoming drill program at its East Bull Lake platinum palladium project located approximately 80 km west of Sudbury, Ontario. Up to three targets are slated for drilling in the program, now underway. Grid controls the majority of the East Bull Property which is a platinum group metal-bearing layered Proterozoic intrusion. Historical drilling at the recently acquired Parisien Lake Deformation Zone intersected palladium-dominant miner - alization in widely-spaced holes in over 600 metres of strike length. Recent surface sampling by Grid in this confirmed surface values in grab samples ranging up to 3.39 g/t palladium, 0.39 g/t platinum and 0.04 g/t gold hosted in a leucogabbro with no visible sulphides. Group Ten Metals Inc. [PGE-TSXV; PGEZF-OTCQB; 5D32-FSE] has several PGM projects in Montana, Alaska and Yukon. The company recently reported 2019 drill results from the Camp target area of the 100%-optioned flagship Stillwater West platinum-group-element-nickel-cop - per project in Montana, United States. While calculated as a nickel equivalent, the deposit is polymetallic. Highlights from 2019 exploration work at the Camp target area include: • 399 metres of 0.25% total nickel equiva - lent (TotNiEq), in drill hole CZ-2019-01, starting at surface and mineralized across the entire drill hole featuring multiple zones of strong PGE-Ni-Cu-cobalt mineral- ization including: • 62 metres of 0.61% TotNiEq starting from 117-metre depth comprising 0.57 g/t 3E (0.18 g/t platinum, 0.34 g/t palladium and 0.05 g/t gold), 0.30% nickel, 0.13% copper, 0.025% cobalt; • 3.5 metres of 3.07% TotNiEq starting from 163-metre depth comprising 3.45 g/t 3E (1.76 g/t Pt, 1.44 g/t Pd, 0.25 g/t Au), 1.53% Ni, 0.49% Cu and 0.099% Co; • 6.7 metres of 1.22% TotNiEq starting from 219-metre depth comprising 2.32 g/t 3E (0.70 g/t Pt, 1.38 g/t Pd, 0.24 g/t Au), 0.31% Ni, 0.34% Cu and 0.013% Co. The 2019 exploration results from the Chrome Mountain and East Boulder tar - get areas at the Stillwater West Project include 388 metres of 1.0 g/t Total Platinum Equivalent (TotPtEq), or 0.22% Total Nickel Equivalent (TotNiEq), start - ing at surface, including 30 metres of 3.86 g/t TotPtEq, or 0.85% TotNiEq (0.60 g/t Pt, 1.25 g/t Pd, and 0.19% Ni, plus Au, Cu, and Co values), starting at 39 metres in hole CM-2007-02 at the Hybrid Unit. Other holes were also encouraging. Rhodium assays are pending. Michael Rowley, President and CEO, said, "We are very pleased to have confirmed and signifi - cantly expanded the known extent of bulk tonnage Platreef-style PGE-Ni-Cu-Co min- eralization at the Camp target area, more than doubling the tested depth from sur- face to 400 metres, where drilling ended in PLATINUM PALLADIUM

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