Generation Mining Begins 5,000- Metre Exploration Drill Program along Western Margin of Marathon Deposit
Generation Mining Begins 5,000-
Metre Exploration Drill Program
along Western Margin of Marathon
Deposit
Toronto, Ontario – August 24, 2020 – Generation Mining Limited (TSX: GENM) (OTCQB:
GENMF) (“Gen Mining” or the “Company”) is pleased to announce t hat it has contracted Vital
Drilling Services to complete a 5,000-metre drilling program along the western margin of a portion
of the Company’s Marathon palladium copper project in Northwestern Ontario. The drill and crew
began mobilizing to site on August 19, 2020 and it is anticipated that drilling will commence
shortly. The exploration drill program is designed to test two areas of interest.
The magnetotelluric (MT) anomaly to the west and down dip from the Main Zone (see Gen
Mining News Release of August 6, 2020). The anomaly is situate d in the area just north
of the 4900N Fault considered to be the location of the feeder channel for the Main Zone
of the Marathon deposit. Two holes (P1 and P2) are planned to test this area.
The northwest extension of the W Horizon in the area between th e 4900N Fault and the
4500N Fault. The 4500N Fault considered to be the location of the feeder channel for the
W Horizon mineralization. Nine holes (P3 – P11, inclusive) are planned to test this area.
Drill hole locations are shown in the attached figure.
Mineralization at the Marathon deposit is recognized as being c onduit related which manifest
themselves as the feeder channels to the Marathon Deposit. The se channels or conduits have the
potential to host both disseminated and massive sulphide mineralization with varying metal tenors
and copper-palladium ratios. Additionally, there is the potent ial for extreme palladium
enrichment, typical of the W Hor izon, due to upgrading by way o f multiple pulses of metal rich
magma passing through the feeder channels to the Marathon Deposit.
The MT anomaly and northwest exte nsion of the W Horizon have th e potential for higher grade
mineralization that could poten tially be mined with underground methods. Gen Mining’s CEO
Jamie Levy, stated, “we are looki ng forward to drilling the pre viously untested MT anomaly as
well as the northwest extension to the W Horizon”. Gen Mining continues to evaluate the results
of the MT survey on the Sally and Four Dams areas, located northwest of the Main Zone.
Qualified Person
Rod Thomas, P.Geo., Vice-Presiden t, Exploration and a Director of the Company has reviewed
and approved the scientific and technical information contained in this news release. Mr. Thomas
is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for
Mineral Projects.
About the Company
Gen Mining’s focus is the development of the Marathon Deposit, the largest undeveloped platinum
group metal Mineral Resource in N orth America. The Marathon Pro perty covers a land package
of approximately 22,000 hectares, or 220 square kilometres. Gen Mining 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. As at the end of Q2 2020, approximately
$5.7 million of the $10 million has been spent. Sibanye Stillwa ter has certain back-in rights that
allow it to increase its interest in the Marathon Property back up to 51% in certain circumstances
and subject to certain conditions after such time as Gen Mining has earned its 80% interest (see
the Company's press release of July 11, 2019 for more details).
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 release, other than statements of historical facts, that
address listing of the Company’s common shares on the TSX, fulfillment by the Company of the TSX listing
conditions, delisting of the Company’s common shares from the Canadian Securities Exchange, the ability
of the Company and Sibanye Stillwater to vary their respective participating in terests in the Marathon
Property, Mineral Resource and Reserve potential, exploration activities and events or developments that
the Company expects is forward-looking information. Although the Company believes that 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 statements.
There are certain factors that could cause actual resu lts to differ materially from those in the forward-
looking information. These include, among other facto rs, the results of the Company’s due diligence
investigations, market prices, exploration successes, c ontinued availability of c apital 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 info rmation, future events or otherwise, other than as
required by law.