Thunder Bay – BUSINESS – Generation Mining Limited (TSX: GENM; OTCQB: GENMF) (“Gen Mining” or the “Company”) has announced, “With the spring thaw behind us, drilling has resumed on the Company’s Marathon Project in Northwestern Ontario. An 8,000 m summer exploration program, in addition to the 2,000 m recently completed this winter, is planned”.
Gen Mining’s CEO Jamie Levy stated “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.”
Drilling recommenced on May 15th, 2021 and is focused initially on the W-Horizon extension in the Central Feeder Zone area (Figures 1-4, inclusive) where the Company reported on multiple high-grade intercepts, including up to 4.3 g/t Pd, 0.81 g/t Pt, 0.48 g/t Au and 0.63% Cu over 4-metres, in its May 10th, 2021 news release.
A total of seven holes for 4,000 m are planned for the Central-Feeder Zone area this summer. Two holes will test two off-hole electromagnetic conductors, as shown in Figure 4, which may be in response to massive sulphide accumulations on the floor of the Central-Feeder Zone. Five additional holes will test the width and down plunge extent of the previously reported (May 10th, 2021) high-grade drill intercepts.
Following the completion of the seven holes in the Central-Feeder Zone area, the drill will be moved to the Chonolith Zone, situated at the northern extremity of the Marathon Palladium-Copper deposit.
Eight to ten steeply inclined holes are planned for this area, which is situated just outside of, but adjacent to, the Marathon Deposit. The Chonolith Zone is an irregular-to-pipe-like shaped intrusive body which may have been a conduit through which magma responsible for the Marathon Deposit flowed. Much of the previous drilling (early 2000s) in this area was quite shallow; however, some deeper holes, notably BO-06-20 which assayed 0.93 g/t Pd, 0.25 g/t Pt, 0.10 g/t Au and 0.58% Cu over a 100.5 metre interval (from 215.8 m to 316.3 m downhole), returned elevated Pd and Cu assays. Given the nature and geometry of the intrusion, which may have constrained and focused magma flow, there is the potential for massive sulphide accumulation along the floor of the Chonolith as well as disseminated Cu and Pd mineralization throughout the intrusive itself.
In addition to the drill program, a surface exploration crew are actively exploring the area between the Sally Deposit and Boyer Prospect. This area comprises a 2.5 km long portion of the Coldwell Complex margin which has not been systematically mapped or prospected. The area has potential for ultramafic intrusions with high-grade mineralization. Previous drilling and surface sampling has returned extremely high-grade assays from apatite bearing pyroxenites which have assayed up to 2.59 g/t Au, 0.48 g/t Pt, 185 g/t Pd, 9.11% Cu and 0.60% Ni. In addition to boot and hammer prospecting, the surface exploration crew will engage in selective soil sampling to define potential targets for follow up trenching and/or surface geophysics.
Rod Thomas, P.Geo., Vice-President Exploration and a Director of the Company has reviewed and approved the scientific and technical information contained in this news release. Mr. Thomas is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About the Company
Gen Mining’s focus is the development of the Marathon Project, a large undeveloped platinum group metal Mineral Resource in North America. The Company released the results of the Feasibility Study on March 3, 2021 and published the NI43-101 Technical Report dated March 25, 2021. The Marathon property covers a land package of approximately 22,000 hectares, or 220 square-kilometres. Gen Mining owns an 81.7% interest in the Marathon project, with the remaining interest owned by Sibanye-Stillwater. Sibanye-Stillwater has certain back-in rights that allow it to increase its interest in the Marathon project.