identifies high priority palladium target at its Marathon Deposit By Kevin Vincent
As markets continue to focus on the dramatic 2020 spike in gold and silver prices, companies like Generation Mining have their sights set on another important precious metal – palladium. And the company isn’t shy about categorizing what they’ve found as “extreme palladium enrichment” and a potential open pit mine that could produce for at least 14 years. The project would produce an average of 194,000 PdEq ounces per year over a 14-year mine life (including credits for copper, platinum, gold and silver), said the company in its August 2020 MD&A filed with regulators. In July 2020 Generation formally commenced a Feasibility Study on the Marathon Project. The Feasibility Study is expected to take approximately 7-8 months, with completion expected in early 2021. The largest use for palladium today is in the production of catalytic converters. On cars, the catalytic converter is attached to the exhaust pipe. A metal casing contains a ceramic honeycomb. The honeycomb is coated with a mix of platinum, palladium and rhodium. These so-called “noble” metals are near perfect when it comes to resisting oxidation, corrosion and acid. That means they can stand up to bad weather and the chemicals released by a car engine. Platinum and palladium in catalytic converters act as catalysts. Catalysts are compounds that can trigger a chemical reaction without being affected themselves. The
honeycomb structure inside a catalytic converter maximizes the surface area where reactions can take place. Palladium is also used in jewelry, dentistry, watch making, blood sugar test strips, aircraft spark plugs, surgical instruments, and electrical contacts. Palladium is also used to make professional concert or classical flutes. In early August, Generation Mining Limited announced preliminary results from its Spartan Magnetotelluric survey over a portion of its Marathon Deposit. The resource, including the W Horizon and structures to the west of the deposit, which are believed to have provided a favourable environment for enriched palladium mineralization. In a news release the company said, “Analysis of the MT data has identified a prospective target which consists of a discrete, previously undrilled, conductive MT anomaly situated at a vertical depth of approximately 650 meters downdip and immediately west of the Marathon Palladium Copper Deposit.” The company raised just over $10 million at the beginning of 2020. “The anomaly is at a depth beyond the depth penetration capabilities of a pre-existing airborne electromagnetic survey of this area (completed by a previous operator) and most importantly, the anomaly is more conductive than Marathon Palladium Copper deposit mineralization.” The company says consequently,
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the anomaly constitutes a high priority drill target given its coincidence with the presumed down dip extension of the Marathon series gabbros, which constitute the feeder zones to, and are the host of, PGM-Cu mineralization at the Marathon Deposit. The data has the company excited. “Of specific interest in the immediate vicinity of the MT anomaly are extensions to the W Horizon which is recognized in scientific literature as a zone of extreme palladium enrichment.” Generation acquired its interest in the Marathon property in July 2019 through a joint venture with Stillwater Canada Inc., a subsidiary of Sibanye Gold Limited. Sibanye is a leading international precious metals mining company, with a diverse portfolio of PGM operations in the United States and Southern Africa. Generation has earned a 51% interest in the Marathon joint venture and has the option to increase its interest to 80% by completing a Preliminary Economic Assessment Cont’d on pg. 18
