Drilling Underway at North America’s Largest Undeveloped PGM Resource

by Mike Fagan

Mike Fagan


Generation Mining (TSX: GENM)(OTC: GENMF) — currently trading around C$1.10 per share — now has the drills turning on an 8,000 meter summer drill program at its 80%-owned Marathon palladium-copper project in northwestern Ontario, Canada.

The initial focus is on the W-Horizon extension of the Central-Feeder Zone area which has returned previous high-grade intercepts, including:

  • 3.19 g/t palladium (Pd) over 4 meters in Hole 553 from 470 to 474 meters
     
  • 4.3 g/t Pd over 4 meters in Hole 554 from 410 to 414 meters; including
     
  • 3.06 g/t Pd over 4 meters from 450 to 454 meters

Drills are targeting a broad zone of mineralization at least 100 meters wide and approximately 50 to 100 meters thick and some 300 meters down dip from the western margins of the Marathon Deposit. 

Generation Mining's CEO Jamie Levy commented via press release
 

“We are quite hopeful that the next seven holes in the Central-Feeder Zone will return similar or better results than those obtained during the winter program. The summer program in this area should also give us an idea if there is the potential to define high-grade, ramp-accessible resources which could, in the future, potentially extend the life of the proposed open-pit operation. Additionally, as with many other exploration targets within our large 220 sq. km property, the Chonolith Zone is an area that has not been drilled in 15 years. Previous drilling of the Chonolith Zone intersected broad zones of palladium and copper mineralization with good grades over substantial intervals.”


As noted, the plan is to drill seven holes for about 4,000 meters at the Central-Feeder Zone before mobilizing to the northern end of the main Marathon deposit to test the Chonolith Zone where 8 to 10 holes are planned. 

Additionally, surface exploration will be occurring simultaneously along a 2.5 km long section of the Coldwell Complex where previous drilling and surface sampling has returned high-grade polymetallic results.  

Keep in mind that the Marathon project is considered the largest undeveloped platinum group metals (PGM) mineral resource in North America with payable metals of:

  • 1.9M oz palladium
  • 467M lbs copper
  • 537,000 oz platinum
  • 151,000 oz gold
  • 2.8M oz silver

For speculators, this is one of those key development stages where the drills will have a lot to say about the future economics of the project. As always, we’ll continue to bring you results — including exclusive interviews with management — as assays are released.

Be sure to also check out our feature report on Generation Mining here.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest


Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.


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