The second quarter of 1995 saw Toronto-listed North American Palladium (NAP) set a production record at its Lac des Isles platinum-palladium mine near Thunder Bay, Ont.
Output of 206,700 tons surpassed the company’s previous best quarter of 183,103 tons. Head grades improved by more than 50% over the first quarter.
“Each month of the first quarter has produced a new record in terms of tons milled, and our total metals production was approximately double that of the first quarter,” says President C.D. McDoulett, Jr. “We expect our financial results for the quarter to be very good.”
The company plans to open the “C” zone at the mine in early August and begin processing the ore immediately. A new crushing system, which will reduce costs, is expected to be operating by year-end.
Meanwhile, NAP has acquired six claims north of its present lease position in northwestern Ontario. The land package, which is on-trend with an active mine, is believed to be part of a large, reefal structure bearing platinum group minerals. Surface exploration will begin immediately, followed by selective drilling.
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