Generation Mining Begins 12,000 Metre Drill Program on Marathon Deposit
Generation Mining Begins 12,000
Metre Drill Program on Marathon
Deposit
Toronto, Ontario – August 20, 2019 – Generation Mining Limited (CSE:GENM) (“Gen
Mining” or the “Company”) is pleased to announce that it has signed a contract with
Chibougamou Drilling for a 12,000-metre drilling program on its Marathon palladium project in
northern Ontario. Two drills and crews have been mobilized to site and drilling commenced
August 14th, 2019. The program is designed to test several high-priority sites on the 219.65 sq.
km. property along a strike length of more than 40 km.
Targets for the 2019 Exploration Program
• 3,000 metres testing the West Feeder Zone near the Main Zone Deposit
• 1,000 metres of confirmation/in fill drilling on the Marathon Deposit
• 2,700 metres exploration drilling on two Georgie Deposit offsets
• 2,600 metres of greenfield exploration drilling on Boyer Area
• 2,700 metres of drilling for the source of the extremely high grade samples and massive
sulphides at Sally Area
Gen Mining’s CEO Jamie Levy stated “As promised, we are hitting the ground running on the
Marathon project which was acquired only a month ago. This project has been under-explored for
the past several years during a time of unprecedented palladium prices. Our goal is to expand the
current resource base while examining the economics of a potential mine.”
West Feeder Zone Target
Past drilling has identified two of the likely conduits for the magma that originally formed the
Main Zone and W Horizon deposits, which contain the majority of the historic resources on the
Marathon Property. Also known as feeder zones, two of these conduits were the subject of a
passive seismic survey in 2018.
The survey outlined two potential targets at depth along the feeder zones (see Target A and B in the
attached idealized plan figure which presents seismic velocities at a depth of 650 m). The largest of
these – Target A - is located about one km west of the Main Zone proximal to the Main Feeder
Zone Fault, and measures approximately 800 metres by 400 metres horizontally, and is shown at
about 650 metres in depth with the top of the target at approximately 500 metres below surface in
the accompanying idealized section view in Figure 2. In 2018 a gravity survey was completed over
Target A and the gravity profile is also shown at the bottom of Figure 2. Of particular interest is
the positive residual gravity feature coincident with Target A which will be drill tested as part of
the current drill program.
Figure 1.
Figure 2.
Geordie Offsets
The Geordie deposit is located approximately 20 km west of the Main Zone and was the subject of
a resource estimate in 2010 by a past operator (now considered a historic resource). Surface
mapping and geophysics have identified the Geordie East and Geordie North zones, which are both
in excess of one km in length and are made up of gabbroic rocks similar to the Geordie Lake
deposit. The Geordie Lake deposit and the East and North Zones have distinct magnetic signatures
facilitating drill targeting. The Geordie North zone has never been drilled while the Geordie East
zone has had one historic drill hole which returned low grade PGM values.
Boyer Target
The Boyer Target is located 10 km north of the Main Zone along strike. This area has been the
subject of intensive sampling over the past several years, with more than 250 surface samples 700
channel samples taken. The sampling has indicated strongly anomalous PGM assay values along a
strike length of 1.2 km, selected samples are included in Table 1. In recent years four trenches
have been completed, with selected results compiled in Table 2. The Boyer zone has not been
drilled in the past.
Table 1 – Selected Prospecting Samples:
Sample (grab) Au (ppm) Pt (ppm) Pd (ppm) TPGM (ppm) Cu (%)
K007980 0.006 5.58 1.19 6.78 0.003
K008039 0.342 0.723 3.09 4.16 0.605
K008216 0.048 0.808 1.08 1.94 0.009
Table 2 – Selected Trenching Results:
Trench Length (m) Au (ppm) Pt (ppm) Pd (ppm) TPGM (ppm) Cu (%)
CC_BOY_A 2.48 0.165 0.270 0.520 0.955 0.227
CC_BOY_A 12.13 0.023 0.263 0.362 0.648 0.020
CC_BOY_B 2.02 0.010 1.946 1.146 3.102 0.007
CC_BOY_C 21.78 0.100 0.325 0.400 0.823 0.070
Including 6.64 0.105 0.462 0.545 1.111 0.074
CC_BOY_D 7.69 0.006 0.541 0.565 1.113 0.006
Including 1.38 0.013 1.528 1.473 3.013 0.005
Sally Target
As previously reported, The Sally project area has been the focus of exploration efforts since the
early 2000s with the completion of 72 drill holes from 2005 to 2017. In aggregate, 14,943 meters
of core drilling has been done with the longest hole being 465 meters. Additionally, 23 trenches
were completed between 2006 to 2016 and contain more than 2000 channel assays. Mineralization
at Sally extends over a 1.2 km interval. Mineralization occurs over intervals of between 5 m and 56
m and dips 40 degrees south. Favorable geology and mineralization have been mapped over a 3 km
strike (see Gen Mining news release dated July 25, 2019).
The property is currently the subject of a passive seismic survey, the goal of which is to identify a
feeder zone which is potentially the source of a half -metre interval of massive sulphide
mineralization identified in a shallow drill hole . Depending on the results from the passive seismic
survey, exploration for a potential zone at depth will be conducted as part of the 2019 drill
campaign.
Targets planned for drilling may change as the project evolves and results are received.
Qualified Person
Rod Thomas, P.Geo., is a qualified person for the purposes of National Instrument 43 -101,
Standards of Disclosure for Mineral Projects, and the Company's Vice -President, Exploration, and
a Director. He has prepared or reviewed and approved the scientific and technical information
contained in this news release.
About Generation Mining Limited
Generation Mining Limited is a base metal exploration and development company with various
property interests throughout Canada. Its primary business objective is to explore and further
develop these properties, and to continue to increase its portfolio of base and precious metal
property assets through acquisition. The Company’s common shares trade on the Canadian
Securities Exchange (“CSE”) under the symbol GENM.
For further information please contact:
Jamie Levy
President and Chief Executive
Officer
(416) 640-2934
(416) 567-2440
Forward-Looking Information
This news release includes certain information that may be deemed “forward -looking information” under
applicable securities laws. All statements in this rel ease, other than statements of historical facts, that
address acquisition of the Property and future work thereon, mineral resource and reserve potential,
exploration activities and events or developments that the Company expects is forward -looking
information. Although the Company believes the expectations expressed in such statements are based on
reasonable assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those in the state ments. There are certain factors that could
cause actual results to differ materially from those in the forward -looking information. These include the
results of the Company’s due diligence investigations, market prices, exploration successes, continued
availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual
results or developments may differ materially from those projected in the forward-looking information. For
more information on the Company, investors are encouraged to review the Company’s public filings at
www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-
looking information, whether as a result of new information, future events or otherwise, other than as
required by law.