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Generation Mining Ltd.
Summary
| Project: | Marathon | |
|---|---|---|
| Deposit: | Marathon | |
| Location: | Canada | |
| Commodities: | Gold-Platinum-Palladium-Copper | |
| Date: | 2/19/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 19-2-2020: Generation Mining Ltd. announces a PEA report for its Marathon deposit at the Marathon project. PEA results incl. post-tax NPV of C$871M, IRR of 30%. Toronto, Ontario – Jan. 6, 2020 – Generation Mining Limited (CSE:GENM) (“Gen Mining”, “Generat | |
| Resources: | (Resource, M+I): 179.248Mt @ 1.24g/t PdEq. | |
| CP/QP: | [Overall Report]: Rod Thomas, Eugene Puritch (Internal:P&E Mining Consultants Inc.) | |
| ABSTRACT: | Toronto, Ontario – Jan. 6, 2020 – Generation Mining Limited (CSE:GENM) (“Gen Mining”, “Generation”, or the “Company”) is pleased to announce results of a positive independent Preliminary Economic Assessment study (“PEA”) prepared in accordance with National Instrument 43-101 on the Marathon Palladium and Copper Project (the “Project”) located in Northern Ontario. Generation acquired a 51% interest in the Project from Sibanye Stillwater in July, 2019, and has an option to earn up to an 80% interest by spending $10 million within four years (see Gen Mining’s news release dated July 11, 2019). The PEA provides a compelling base case assessment for the development of the Marathon Palladium Mineral Resource by open pit mining. Jamie Levy, President and CEO of Generation commented, “This study supports at a PEA level of confidence the Company’s opinion that a low-cost operation is possible at the Marathon Deposit. The Project has a very robust after-tax IRR of 30% and after-tax Net Present Value approaching $900 million, with a pay-back of 2.5 years in a mining-friendly jurisdiction. The PEA doesn’t include potential feed from two additional deposits with NI 43-101 Mineral Resource Estimates located on the property which will require additional study.” “With the consensus outlook for palladium and copper strong for the next several years,” commented Executive Chairman Kerry Knoll, “this is a project whose time has come. As governments world-wide continue to mandate a higher palladium load for environmental reasons in most automobiles and little new mine capacity being scheduled to come on stream, Generation Mining plans to fast-track a Feasibility Study and permitting, and expects 2020 to be a pivotal year in the Company’s growth.” | |
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