Business
Generation Mining reports on Biiwobik Prospect drilling and summer surface exploration results
TORONTO, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Generation Mining Limited (TSX: GENM; OTCQB: GENMF) (“Gen Mining” or the “Company”) is pleased to announce results fr
About this update from Generation Mining Ltd.
[{"type":"text","content":" TORONTO, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Generation Mining Limited (TSX: GENM; OTCQB: GENMF) (“Gen Mining” or the “Company”) is pleased to announce results from the remaining eight holes drilled this summer in the Chonolith and Powerline zones at the Biiwobik Prospect, situated immediately north of the Marathon palladium-copper deposit in Northwestern Ontario. The Biiwobik Prospect name originates from the Biigtigong Nishnaabeg’s First Nation dialect of the Nishnaabe language meaning “metal”. The Company also reports on the results of summer prospecting, mapping, and trenching activities carried out along the northeast margin of the Coldwell Complex between the Redstone and Four Dams prospects, including detailed work immediately east of the Sally Deposit encompassing the Willie Zone and the Boyer Prospect (see location map included as Figure 1, all figures are included at the end of this news release). The Company completed a positive feasibility study (see March 3rd, 2021 news release) which contemplates the development of an open-pit mining operation with robust project economics over a 13-year mine-life. As with recently completed work on the Central Feeder Zone (see 2021 news releases of January 25th, May 10th and August 17th) current exploration activities are focused on evaluating the potential for additional resources which could, in the future, potentially extend the life of the proposed operation. Biiwobik Prospect Drilling Results from GenMining’s initial drill program at the Biiwobik Prospect are very encouraging. The near surface Powerline Zone has Pd and Cu grades that are similar to the Main Zone of the Marathon Deposit the northern extremity of which is situated approximately 300 m to the south. Drill density in this part of the property is low and surface exploration limited. With additional drilling and detailed surface sampling, there is excellent potential to define open-pit accessible resources at the Biiwobik Prospect. Jamie Levy, Gen Mining’s CEO, stated “We are excited by these results as there is the potential to develop additional resources near the Marathon Deposit”. Results from the first three holes drilled this year in the Powerline and Chonolith zones were reported in the Company’s September 2nd, 2021, news release. Assay results for an additional eight holes are provided below in Table 1. Drill...