North American Palladium doubles down underground at Lac des Îles

The story of North American Palladium (TSX: PDL; US-OTC: PALDF) is perhaps best told in threes. In 2003, North American Palladium had just over 3 million oz. palladium equivalent in reserves at its flagship Lac des Îles palladium-platinum-gold-copper-nickel mine in northwestern Ontario. Over the next 15 years the company mined slightly less than 3 million oz. palladium equivalent. Now, a new feasibility study pegs the mine’s reserves at over 3 million oz. palladium equivalent. What was old is indeed new again. The 2018 feasibility study builds on a 2017 feasibility study that called for the pushback of the now-dormant Roby pit. The pit pushback, once considered critical, has been replaced in the new study with an expansion of the underground mine in the Offset zone using sub-level shrinkage – or underground bulk mining – to wring value from several near-surface resources outside of the original mine plan. Continue reading at The Northern Miner.