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Generation Mining Ltd.
Summary
| Project: | Marathon | |
|---|---|---|
| Deposit: | Sally | |
| Location: | Canada | |
| Commodities: | Gold-Platinum-Palladium-Copper | |
| Date: | 12/17/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-12-2019: Generation Mining Ltd. announces an Exploration/Drilling Update report for its Sally deposit at the Marathon project. Drilling results incl. 196m @ 0.15g/t Au, 0.33g/t Pt, 0.59g/t Pd, 0.158% Cu from 480m. Toronto, Ontario – December 17, 2019 – | |
| Resources: | ||
| CP/QP: | [Overall Report]: Rod Thomas (Internal) | |
| ABSTRACT: | Toronto, Ontario – December 17, 2019 – Generation Mining Limited (CSE:GENM) (“Gen Mining” or the “Company”) is pleased to announce results from 6 drill holes totaling 2,278 metres at the Sally Deposit, located at the Marathon Project in northern Ontario. Five holes focused on the western strike extension of the Sally mineralized zone and one hole specifically targeted the potential for massive sulphide mineralization down dip from the main zone keel within the Sally Deposit. The best result from the 2019 drill program on the Sally Keel Zone intersected 1.19 grams per tonne (“g/t”) palladium (“Pd”), 0.68 g/t platinum (“Pt”), 0.48 g/t gold (“Au”) and 0.143 % copper (“Cu”) which equates to a PdEq grade of 2.41 g/t PdEq over an estimated true width of 10 metres (corresponding to a 40 metre drill intercept). As reported on December 2, 2019 an initial Mineral Resource at Sally estimated 767,000 palladium equivalent (“PdEq”) ounces in the Indicated Classification and an additional 389,000 PdEq ounces in the Inferred Classification. PdEq calculations for the Indicated Classification were based on metal concentration grades of 0.35 g/t palladium (“Pd”), 0.20 g/t platinum (“Pt”), 0.17 % copper (“Cu”), 0.07 g/t gold (“Au”) and 0.70 g/t (“Ag”) and USD metal prices of $1,100/oz Pd, $900/oz Pt, $3/lb Cu, $1,300/oz Au and $16/oz Ag. The same metal prices were used for PdEq calculations in the Inferred Classification where metal concentration grades were 0.28 g/t Pd, 0.15 g/t Pt, 0.19% Cu, 0.05 g/t Au and 0.60 g/t Ag. The Mineral Resource Estimate was prepared by P&E Mining Consultants Inc. of Brampton, Ontario. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability | |
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