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Generation Mining Initiates PEA on Marathon Palladium-Copper Project

Mining News - Published on Fri, 18 Oct 2019

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Generation Mining Limited announced that it has engaged P&E Mining Consultants to undertake a Preliminary Economic Assessment of the Marathon Deposit on its 51% owned Marathon Palladium-Copper Project near Marathon in Northern Ontario. The PEA is scheduled to begin immediately and expected to be completed by year-end. The Marathon Deposit is the largest undeveloped Platinum Group Metal resource in North America. The Company is actively exploring extensions to the Marathon Deposit as well as the Geordie and Sally satellite deposits and the Boyer Zone. The Project-size has the potential to grow with further drilling.

On September 9, 2019, Gen Mining released an Updated Mineral Resource Estimate on the Marathon Deposit, also prepared by P&E. The study estimated that the Marathon deposit contains a Measured and Indicated Mineral Resource of 7.13 million ounces palladium equivalent, within a 179-million-tonne pit constrained deposit grading 1.24 grams per tonne PdEq, calculated at a USD 13--net-smelter-royalty-per-tonne cut-off. As a gauge of resource integrity and Mineral Resource Sensitivity, if the cut-off is increased to USD 25 NSR per tonne then the Deposit contains a Measured and Indicated Mineral Resource of 5.83 million ounces PdEq within all 6-million-tonne pit constrained deposit grading 1.56 grams per tonne PdEq. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

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Posted By : Rabi Wangkhem on Fri, 18 Oct 2019
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