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Generation Mining Announces High Grade Results From W Horizon Drilling - Seite 3

Nachrichtenquelle: globenewswire
16.12.2020, 13:00  |  162   |   |   

About the Marathon Palladium Project

Generation Mining has begun a Feasibility Study on the Marathon Deposit, which is the largest undeveloped platinum group metal Mineral Resource in North America. The Marathon Property covers a land package of approximately 22,000 hectares or 220 square kilometres. Gen Mining acquired a 51% interest in the Marathon Property from Sibanye Stillwater on July 10th, 2019. On November 30th, 2020 Gen Mining announced it had acquired an additional 29% interest in the Project by completing a PEA and by spending $10 million of all joint venture expenditures within the 4-year Sole Funding Period. As a result, Gen Mining and Sibanye Stillwater will be required to fund future expenditures on a pro rata basis (80% funded by Gen Mining and 20% by Sibanye) in order to maintain their respective interests in the Project, subject to standard dilution provisions.  Upon completion of the feasibility study, Sibanye Stillwater has certain back-in rights that can bring its interest in the property back to 51% (see the company's press release of July 11, 2019, for more details).

Qualified Person

Rod Thomas, P.Geo., Company Vice-President, Exploration and a Director has reviewed and approved the scientific and technical information contained in this news release. Mr. Thomas is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects.

For further information please contact:

Jamie Levy
President and Chief Executive
Officer
(416) 640-2934
(416) 567-2440
jlevy@genmining.com

Forward-Looking Information

This news release includes certain information that may be deemed “forward-looking information” under applicable securities laws. All statements in this release, other than statements of historical facts, that address acquisition of the Property and future work thereon, Mineral Resource and Reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company’s due diligence investigations, market prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.


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Generation Mining Announces High Grade Results From W Horizon Drilling - Seite 3 92 metres grading 1.41 g/t Palladium Equivalent including 6 metres grading 2.92 g/t Pd, 1.29 g/t Pt, 0.36 g/t Au & 0.48% CuTORONTO, Dec. 16, 2020 (GLOBE NEWSWIRE) - Generation Mining Limited (TSX:GENM) (OTCQB: GENMF) (“Gen Mining” or the …

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