Generation Mining Ltd. (GENM:TSX; GENMF:OTCQB; 9GN:FSE) announced in a news release that drilling at its Marathon project in Ontario, Canada, encountered high-grade palladium equivalent mineralization.
"Noting that the 2020 exploration drill program results will not be part of the ongoing feasibility study we are excited to see that the feeder zone model for higher grade mineralization has been validated," President and CEO Jamie Levy said in the release. "The 16-meter (16m) massive to semi-massive sulphides intercept in [previously reported] hole 543 and the elevated palladium, platinum and copper grades in hole 547 have added some exploration upside to our already large resource."
Results are for five more of its recent 12-hole, 5,068 meter exploration drill program. The company drilled this quintet of holes, M-20-542, M-20-544, M-20-545, M-20-546 and M-20-547, in the downdip western extension of the deposit's W Horizon area to test for near-surface, ramp-accessible mineralization.
"These results confirm the downdip potential for palladium grades of the same magnitude as those intersected updip," the release noted.
The highlight results of the group are from hole M-20-547, which intercepted several mineralized intervals downdip and in the center of the deposit's feeder zone. Intercepts included 92m of 1.41 g/t palladium equivalent (1.41 g/t Pd eq), including 6m of 2.92 g/t palladium, 1.29 g/t platinum, 0.36 g/t gold and 0.48% copper.
Hole M-20-542 returned results akin to those of M-20-547 and two notable features. One was a near surface 2 meter interval of melatroctolite of 2.28 g/t Pd eq. The other was a broad zone of mineralization between 282m and 314m downhole, including a 14m interval of 2.12 g/t Pd eq between 282m and 296m.
Assays for the final three holes of the 2020 campaign, M-20-548, M-20-549 and M-20-550, are pending.
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