Generation Mining Initiates Trade Off Studies in Preparation for a Feasibility Study

TORONTO, May 28, 2020 (GLOBE NEWSWIRE) -- Generation Mining Limited (CSE:GENM) (“Gen Mining”, “Generation”, or the “Company”) is pleased to announce an update to its work program on the Marathon Palladium project in northwestern Ontario (the “Marathon Project”). The Company has advanced negotiations on the key work packages for the planned Feasibility Study including: mine, concentrator, tailings designs and metallurgical testing. As a priority, the initial work is to progress on the Trade-off study options and concepts previously outlined in prior feasibility studies and the recent Preliminary Economic Assessment filed on February 19, 2020 (the “PEA”) for the Marathon Project.  The Feasibility Study is expected to take approximately 7-8 months with completion expected in early 2021.

Jamie Levy, President and Chief Executive Officer of Generation Mining, commented: “This Feasibility Study, being led by Drew Anwyll, P.Eng., Chief Operating Officer, is taking-off at a very quick pace.  We have not experienced any notable challenges with the Covid-19 pandemic and social-distancing as the Company’s “home office” and frequent video conferencing-standards that were implemented early in the pandemic are being shown to be very efficient. With the recent PEA and past feasibility studies being the starting point, we are confident of optimizations and overall improvements to the Marathon-PGM Project.

Metallurgical testwork has commenced at SGS Canada Inc. in Lakefield, Ontario. As outlined in the Company’s PEA, extensive metallurgical testing was completed in the past on mineralization from the Marathon PGM Deposit. Several technological developments have occurred in flotation since the most recent test work was completed in 2013. The current study is evaluating a modification to process plant design which could simplify the circuit with a decrease in capital expenditures, a decrease in operating costs and the potential for improved recoveries of palladium, platinum, gold and copper. The study is being overseen by Steve Haggarty, P.Eng, a metallurgical engineer and Managing Director of Haggarty Technical Services with operations and design experience from a 40 year career with Teck, Homestake Mining and Barrick Gold.