North American Palladium (NAP) has completed its drilling programme at its Arctic platinum project, the Canadian company has confirmed.

The Toronto-based firm has been conducting extensive exploratory work on three targets at the Narkaus property as part of a joint venture with Gold Fields Limited.

Of the three targets, the prospective mine at Kuohunki returned a best assay of 17.6 g/t palladium and platinum.

Meanwhile, the Siika-Kama and A Siika-Kama targets assayed 8.2 g/t and 7.8 g/t palladium and platinum respectively.

News of the completion of NAP's exploratory work comes after it last month reported a 68 per cent increase in production of platinum group metals (pgms) at its Lac de Iles operations over the first quarter of this year.

Over the three month period, NAP's output stood at 78,805 ounces compared with 47,015 ounces for the year ago period.

The improvement enabled NAP to post profits of $5.5 million for the quarter.

Source:

PALLADIUM EXPLORATION - High-grade reef drilled in Finland, 06/07/07
http://www.canadianminingjournal.com/issues/ISArticle.asp?id=69845&issue=06062007

North American Palladium sees Q1 profits jump, 10/05/07
http://www.resourceinvestor.com/pebble.asp?relid=31676

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