In a news release, Toronto-based PGM exploration company Generation Mining Ltd. (GENM:TSX; GENMF:OTCQB; 9GN.F) announced that "it has contracted Vital Drilling Services to complete a 5,000 meter drilling program along the western margin of a portion of the company's Marathon palladium copper project in Northwestern Ontario." The firm advised that the drill and crew arrived onsite within the last week and that it expects drilling to begin soon. Generation Mining stated that the exploratory drill program has been designed to test two main areas of interest.
The company identified the first target area as the magnetotelluric (MT) anomaly to the west and down dip from the Main Zone. The anomaly is located in the area just to the north of the 4900N Fault, which is thought to be the location of the feeder channel for the Marathon deposit's Main Zone. The firm intends to drill two holes (P1-P2) there to test the area.
The second area of interest is the northwest extension of the W Horizon which is situated between the 4900N Fault and the 4500N Fault. The firm believes that the 4500N Fault is the W Horizon mineralization's feeder channel location. The company indicated that it plans to test nine holes (P3-P11) to explore this area.
The company stated, "there is the potential for extreme palladium enrichment, typical of the W Horizon, due to upgrading by way of multiple pulses of metal rich magma passing through the feeder channels to the Marathon Deposit."
The company explained that the MT anomaly and northwest extension of the W Horizon demonstrate potential for higher grade mineralization that may prove to be viable for underground mining methods. At present, the firm is also evaluating the results of the MT survey on the Sally and Four Dams areas which are located northwest of the Main Zone.
Generation Mining stated that the Marathon Deposit covers around 22,000 hectares and is the largest undeveloped platinum group metal mineral resource in North America. The company noted that it acquired a 51% interest in the Marathon Property from Sibanye Stillwater on July 10, 2019, and can increase its interest to 80% by spending $10 million over a period of four years.
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