Vancouver, British Columbia–(Newsfile Corp. – February 11, 2020) – Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) (formerly 21C Metals Inc.) (the “Company”) is pleased to announce that Vital Drilling of Val Caron, Ontario has started the diamond drilling program on the East Bull Palladium Property.
Drilling has commenced with one rig and a second will be added once the logistics are settled and drill sites have had snow removed. The first drill is starting in the western end of the Valhalla zone and will progress eastward infilling gaps and drilling down dip. The plan is to establish a full-service camp within two kilometres of the project when the second drill is delivered to site. The diamond drilling is focusing on expanding the NI 43-101 inferred resource (see news release dated July 3, 2019).
Canadian Palladium is pleased that Vital Drilling was able to get mobilized quickly. The fact the property is year-round accessible by a numbered highway has expedited the process. The Company is still targeting to have core available for viewing at the Prospectors and Developers Association of Canada Convention in early March 2020.
Wayne Tisdale commented, “I am currently onsite with our geological team and look forward to drilling this vastly underexplored property. With Palladium currently at $2250/oz the time is right to us to expand upon our existing inferred resource.”
The Company also announces that it has granted an aggregate of 3,000,000 incentive stock options to certain directors, officers, employees and consultants of the Company, subject to regulatory approval. The stock options will be exercisable at $0.20 for a period of five years from the date of grant.
For additional information please contact:
Canadian Palladium Resources Inc.
Wayne Tisdale, President and CEO
T: (604) 639-4472
This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the proposed timing and completion of the private placement and the proposed use of proceeds from the private placement. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in water disposal facility operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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