Generation Hits More High-Grade Palladium
Generation Mining Ltd. (TSX: GENM)(OTC: GENMF) – currently trading right around C$0.80 per share – has released more high-grade results from its 12-hole, 5,000-meter drill program at the W Horizon portion of the Marathon palladium deposit.
Marathon, which is considered the largest undeveloped platinum group metal (PGM) mineral resource in North America, is estimated to host:
3.8 million ounces of palladium
1 billion pounds of copper
1.24 million ounces of platinum
~500,000 ounces of gold
Generation acquired a 51% interest in the project from NYSE-listed Sibanye Stillwater in 2019 and has since increased its ownership stake to 80%.
The highlight intercept from the most recent drilling registered 92 meters of 1.41 grams per tonne palladium equivalent from 338 to 430 meters.
Generation Mining president & CEO, Jamie Levy, stated via press release:
“Noting that the 2020 exploration drill program results will not be part of the ongoing feasibility study we are excited to see that the feeder zone model for higher-grade mineralization has been validated. The 16-metre massive to semi-massive sulphides intercept in hole 543 and the elevated palladium, platinum and copper grades in hole 547 has added some exploration upside to our already large resource.”
And just as we were going to press, Generation released its “best drill intercept of high-grade PGMs plus copper” to-date registering 43 meters of 2.82 grams per tonne palladium equivalent — setting things up nicely for an exciting 2021 exploration/drilling program at Marathon.
The next golden profit window is opening right now.
The recent selloff in gold stocks is being backstopped by incredibly strong gold miner earnings.
Another gold stock price explosion is coming and now is the perfect time to get positioned.
The “Golden Window” for 1,200% profits is now wide open.
Additionally, Generation announced it has closed its C$3.3 million flow-through financing resulting in gross proceeds of C$3.3 million for the company. Eric Sprott, of Sprott Mining, purchased two million shares of the offering.
Eric’s involvement alone says a lot about the potential for Marathon to become the next big palladium producer. And investors can take added comfort knowing the deposit is located in one of the most mining-friendly jurisdictions on the planet — Ontario, Canada.
Plus the timing could not be better with the commodity prices for palladium, platinum, gold, and copper all in confirmed bull market trends with plenty of room to run.
Yours in profits,
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.