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Generation Mining ups Marathon palladium equivalent resource estimate by 20%

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Generation Mining ups Marathon palladium equivalent resource estimate by 20%

Generation Mining Ltd. said Sept. 9 that it estimated a measured and indicated resource at its 51%-owned Marathon palladium-copper deposit in Northern Ontario of 179.2 million tonnes grading 1.24 g/t palladium equivalent for 7.13 million ounces of palladium equivalent, for a 20% increase in contained ounces from the previous resource estimate published in 2010.

The new estimate was based on a C$13 per tonne net smelter return cut-off, and does not include the previously published historic mineral resource estimate at the Geordie deposit.

In June, Generation Mining signed a definitive agreement with Sibanye Gold Ltd. to acquire up to 80% of the Marathon deposit.