• PALLADIUM:
  • USD $/oz
  • CSE: GENM
  • CAD $0.24
Zinc * USD/lb
0.00
Lead * USD/lb
0.00
Moly * USD/lb
0.00

Marathon Palladium Project

Generation Mining owns a 51% interest (with an option to earn up to an 80% interest) in Sibanye-Stillwater’s Marathon PGM deposit located near Marathon, Ontario (the “Property”). The 200 square-km Property covers nearly the entire Coldwell Complex. The Company’s property hosts several PGM-Copper deposits, including the 7.1 million ounce palladium-equivalent Marathon Deposit.

The Property was developed from 1985 to 2010 by various companies and was eventually owned by Marathon PGM Corporation. American mining company Stillwater Mining Company acquired Marathon PGM Corporation in 2010 for US$118 million. In 2016, the Property was acquired by Sibanye-Stillwater of South Africa when it purchased Stillwater.

The Property is located in north-western Ontario approximately 215 km east of Thunder Bay and 10 km north of Marathon, Ontario. The Marathon Deposit has a total north-south strike length of approximately 3km and dip 30° to 40° toward the west. The mineralisation has a true thickness ranging from 4m to over 100m. Other deposits are the Geordie and Sally, located 10 km west and 15 km northwest, respectively, of the Marathon Deposit.

More than 200,000 metres of drilling in over 1000 holes have been drilled to date on the Property, which has been the subject of feasibility studies and numerous mineral resource estimates. The portion of the Property that hosts the Main Marathon deposit has no outstanding royalties.

The Property is located in close proximity to excellent infrastructure. The Trans-Canada highway runs through the Property, while the main line of the Canadian Pacific Railroad runs nearby. The new 230 kilovolt power line from Wawa to Thunder Bay, currently under construction, will also cross the property. The town of Marathon, where many of the employees of the nearby Hemlo gold mine reside, offers an excellent staging point for any future mine construction.

HISTORICAL RESOURCES

Pit Constrained Mineral Resource Estimate at C$13/tonne NSR Cut-Off (1-7)

Classification

Tonnes (k)

Pd (g/t)

Pt (g/t)

Cu (%)

Au (g/t)

Ag (g/t)

PdEq (g/t)

Pd (koz)

Pt (koz)

Cu (Mlb)

Au (koz)

Ag (koz)

PdEq (koz)

Measured

103,337

0.64

0.21

0.20

0.07

1.5

1.34

2,123

688

463

239

4,964

4,445

Indicated

75,911

0.46

0.15

0.20

0.06

1.8

1.10

1,115

376

333

151

4,371

2,685

Meas & Ind

179,248

0.56

0.18

0.20

0.07

1.6

1.24

3,238

1,064

796

390

9,335

7,130

Inferred

668

0.37

0.12

0.19

0.05

1.4

0.95

8

3

3

1

31

21

1.   Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.  
2.  The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
3.  The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration. 
4.  The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
5.   The Mineral Resource Estimate was based on US$ metal prices of $1,100/oz Pd, $900/oz Pt, $3/lb Cu, $1,300/oz Au and $16/oz Ag. The US$:CDN$ exchange rate used was 0.77.
6. The NSR estimates use flotation recoveries of 93% for Cu, 82% for Pd, 80% for Pt, 80% for Au, 75% for Ag and  
    smelter payables of  96% for Cu, 93% for Pd, 88% for Pt, 90% for Au, 90% for Ag . 
7. The pit optimization used a mining cost of C$2 per tonne, combined processing, G&A and off-site concentrate costs of 
    C$13/tonne and pit slopes of 50o. 

Pit Constrained Mineral Resource Estimate Sensitivity at C$25/tonne NSR Cut-Off

Classification

Tonnes (k)

Pd (g/t)

Pt (g/t)

Cu (%)

Au (g/t)

Ag (g/t)

PdEq (g/t)

Pd (koz)

Pt (koz)

Cu (Mlb)

Au (koz)

Ag (koz)

PdEq (koz)

Measured

  70,792

0.82

0.25

0.25

0.09

1.5

1.67

1,864

578

387

194

3,510

3,794

Indicated

45,279

0.60

0.19

0.25

0.07

1.9

1.40

   871

272

252

106

2,817

2,032

Meas & Ind

116,071

0.73

0.23

0.25

0.08

1.7

1.56

2,735

850

639

300

6,326

5,826

Inferred

     144

0.62

0.16

0.28

0.05

0.9

1.41

3

1

1

0

4

7

 


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