NAP is committed to increasing the value of its LDI asset through exploration success at LDI and on its substantial greenfields property portfolio. The Company’s PGE exploration team continues to provide timely additions to LDI’s mineral resources and future development opportunities including:
- the discovery of high-grade palladium mineralization adjacent to the Roby open pit in both the Sheriff-Powerline zones and the North VT Rim zone
- expansion of the Offset Zone mineral resources adjacent to the current mineral reserves
- identification of new near-surface exploration targets on the Mine block intrusion and the South Lac des Iles intrusion
The Company currently maintains a three-tiered exploration strategy that encompasses:
- Exploration, resource delineation and conversion drilling at the LDI mine property (Mine Block Intrusion);
- Greenfields exploration on other LDI suite intrusions in the immediate vicinity of the mine; and,
- Monitoring of competitor PGE exploration projects in other parts of Canada.
The LDI PGE-Cu-Ni deposits are distinguished from competitor deposits by their sub-vertical orientation, much greater thickness and significant enrichment in palladium over platinum with Pd:Pt ratios typically exceeding 10:1. The recent, increased focus on three-dimensional geological and structural modeling has led to a major refinement to the LDI deposit model. The majority of the known mineral resources at LDI are believed to have formed along a major, north- to northeast-trending regional feeder fault system. Intersections between regional feeder structures and local cross-cutting faults provided trap sites for palladium, platinum, gold and copper- and nickel-bearing sulfide minerals. The action of high-temperature magmatic fluids during the late stage of magmatic activity also concentrated palladium in extensive alteration and brecciation zones, further enhancing the unique characteristics of the LDI deposits. The Roby and Offset zones remain the focus for current production. They are interpreted as part of a single, south-plunging and north-south trending palladium-enriched disseminated sulfide deposit that was broken apart in response to post-magmatic faulting.
Over the past several years NAP has amassed a substantial greenfields exploration property portfolio capturing most of the known Lac des Iles suite intrusions. The company intends to embark on a greenfields discovery program predicated on the first application of the updated LDI exploration model. Future exploration success will require the utilization of both tried and proven exploration methods and innovative new search techniques. With permits, mine infrastructure and available capacity at the LDI mill, NAP can move from exploration success to production on an accelerated timeline. The Company is committed to continual improvement in its exploration programs and in the technical ability of its exploration team.