Lac des Iles Mine has 10 more years of life: North American Palladium releases new feasibility study, mine plan for northwest operation (Northern Ontario Business – September 17, 2018)

The discovery of new underground reserves has pushed the life of the Lac des Iles Mine (LDI) to 10 years. North American Palladium (NAP) released an updated feasibility study and mine plan that projects a longer mine life at its operation, north of Thunder Bay.

NAP has been employing a more efficient bulk mining method – known as sublevel shrinkage (SLS) – in the lower part of the mine that it intends to utilize at other near-surface resources on their property. In June 2017, NAP put out a feasibility study that projected nine-and-a-half years of mine life. The updated study extends it by one year to 2027.

North American Palladium regards LDI as already one of the lowest cost underground mines in Canada. The new study shows improved margins, cash flows, mine life and net present value relative than what the company released in June 2017.

Daily production will increase from 6,000 tonnes to more than 12,000 tonnes. The new mine plan introduces sub-level caving below and next to the dormant Roby open pit. It calls for the extraction of a large portion of high-grade resources residing just below the pit.

Over the next decade, NAP is looking at 40.9 million tonnes of underground and surface reserves at an average palladium grade of 2.31 grams per tonne, yielding 2.32 million ounces of payable palladium production.

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