Generation Mining starts seismic survey at Marathon project in Canada

26 July 2019 (Last Updated July 26th, 2019 12:25)

Generation Mining has started a passive seismic survey on the Sally area of its Marathon Platinum Group Metals (PGM) property in the Northwestern Ontario region in Canada.

Generation Mining has started a passive seismic survey on the Sally area of its Marathon Platinum Group Metals (PGM) property in the Northwestern Ontario region in Canada.

The survey has been designed to explore targets for higher grade PGM deposits at depth. The Sally area is located 20km north of the town of Marathon, and 15km north-west along strike from the main Marathon PGM-Cu Deposit along the margin of Coldwell Complex.

The results of the 200-sensor passive seismic survey, which commenced on 19 July, are expected this September. The survey covers an area of 3km by 4km at a depth of 2km.

Passive seismic has the potential to identify high-velocity zones prospective for PGM mineralisation at depths that are greater than 500m to 2,000m. It is a new exploration technique that is extensively used for the exploration of minerals.

Since 2000, the Sally area has been one of the primary focus of exploration, with the completion of 72 drill holes from 2005 to 2017.

A total of 14,943m of core drilling has been performed at the project area, with the longest hole being 465m. Furthermore, 23 trenches were completed from 2006 to 2016, which contain more than 2,000 channel assays.

Generation Mining said in a statement: “Mineralisation at Sally extends over a 1.2km interval.

“Mineralisation occurs over intervals of between 5m and 56m and dips 40° south. Favorable geology and mineralisation have been mapped over a 3km strike.”

Last month, Sibanye-Stillwater signed an acquisition agreement with Generation Mining for the development of the PGM-copper Marathon project.

Sibanye-Stillwater will receive an upfront payment of C$3m ($2.27m) in cash and 11 million shares priced at C$0.27 ($0.20) each in Generation Mining upon completion of the agreement.