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Generation Mining Extends Biiwobik Zone by 150 m, intersects 8.0 m of 3.06% CuEq 350 m north of Marathon Deposit
TORONTO / Apr 23, 2024 / Business Wire / Generation Mining Limited (TSX:GENM) ("Gen Mining" or the "Company") is pleased to announce results from the first phas
About this update from Generation Mining Ltd.
[{"type":"text","content":"TORONTO / Apr 23, 2024 / Business Wire / Generation Mining Limited (TSX:GENM) (\"Gen Mining\" or the \"Company\") is pleased to announce results from the first phase of drilling at the Biiwobik prospect, immediately north of the Marathon palladium-copper deposit in Northwestern Ontario. The Company recently announced plans for a multi-phased exploration program that will target copper dominant and higher-grade palladium group metals (PGM) prospects within its 26,000 hectare land package (see news release dated March 7, 2024). Results from the first phase of drilling have returned positive results including 8.0 metres of 0.85% Cu, 2.48 g/t Pd, 0.57 g/t Pt, 0.22 g/t Au (3.06% Copper Equivalent), within a broader 30 metre interval grading 0.41% Cu, 1.02 g/t Pd, 0.24 g/t Pt, and 0.10 g/t Au (1.33% CuEq) in MB-24-058. Hole MB-24-059 intersected mineralization over 5.0 metres at 0.56% Cu, 1.12 g/t Pd, 0.21 g/t Pt, and 0.15 g/t Au (1.59% CuEq) within a 22 metre interval grading 0.19% Cu, 0.9 g/t Pd, 0.24 g/t Pt, and 0.10 g/t Au (0.98% CuEq). Additional drill holes from this program such as MB-24-054 encountered a variety of mineralization styles including 34 metres of oxide cumulates grading up to 1.37 g/t Pd, 0.13% Cu, 0.23% Pt and 0.10 g/t Au, as well as a notable 11 metre interval of massive sulphides containing elevated Pd and Cu values of 0.50 g/t and 0.39% respectively. This along with several other massive to semi-massive intercepts support the model for back-draining and subsequent settling of massive sulphides in a feeder conduit setting, and can be used to help vector towards higher grade intervals in the future. Results from the first phase of the 2024 Biiwobik drill program are summarized in Table 1 below. Jamie Levy, President and CEO says, “This is a great start to the drill program. We were anticipating that the Biiwobik zone drilling would give us an improved understanding of the potential to extend the current pit included in our Feasibility Study into this area and potentially increasing mine life and average copper grade. These significant intercepts mark a substantial step-out of 150 metres from previous drilling and indicates that the overall copper grade appears to increase in this direction.” These holes at the Biiwobik zone effectively extend the mineralization approximately 450 metres north of the Marathon depo...