The Palladium Hits Keep Coming in Ontario

by Mike Fagan

Mike Fagan


Generation Mining (TSX: GENM)(OTC: GENMF) — currently trading just above C$1 per share — has announced positive assay results from its recently-completed 2,000-meter winter drill program at the W-Horizon target area of its 80.7%-owned Marathon palladium-copper project in northwestern Ontario, Canada.

Highlights include:

  • 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

The results confirm 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. 

Gen Mining's CEO Jamie Levy commented via press release:
 

"We continue to have a great deal of success by drilling step out holes along the feeder zone corridor. We are very excited to hit high grade down dip from the Marathon Deposit and we are beginning to see the potential to define resources in this area."


The company will commence an 8,000-meter summer drill program at Marathon later this month to further build upon the feasibility-stage resource, which contemplates the development of an open-pit mining operation with robust project economics over a 13-year mine-life. 

Already, 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

Gen Mining, as current operator, has until July 22, 2021 to make a commercial production decision, which also serves as the exercise date for Sibanye-Stillwater to increase its ownership stake from 19.3% to 51% (as discussed last week).

This is an exciting development stage for Gen Mining as the company is wasting no time mobilizing the drills with the aim of building ounces and extending the proposed mine-life at Marathon by stepping out from the main deposit. Stay tuned as the news flow picks up even more in the coming months. 

You can also access 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.