Monday, September 6, 2021

Technology Mining : discovers close to floor mineralization 300 metres north of the Marathon Deposit, drill intercepts of as much as 1.92 gt palladium and 0.83% copper over 8 metres

TORONTO – Technology Mining Restricted (TSX: GENM; OTCQB: GENMF) (‘Gen Mining’ or the ‘Firm’) is happy to announce outcomes from…

By Staff , in Palladium , at September 4, 2021

TORONTOTechnology Mining Restricted (TSX: GENM; OTCQB: GENMF) (‘Gen Mining’ or the ‘Firm’) is happy to announce outcomes from the primary three holes drilled within the Chonolith space instantly north of the Marathon palladium-copper deposit in Northwestern Ontario.

The Firm accomplished a optimistic feasibility research which contemplates the event of an open-pit mining operation with sturdy undertaking economics over a 13-year mine-life. As with just lately accomplished work on the Central Feeder Zone, present exploration actions are targeted on evaluating the potential for extra sources which might, sooner or later, probably lengthen the lifetime of the proposed operation.

Of the primary three holes drilled within the Chonolith space gap MB-21-45 yielded the very best outcomes, intersecting a 46 m interval of 1.01 g/t Pd and 0.46% Cu from 50 m to 96 m downhole together with 8 m of 1.92 g/t Pd and 0.83% Cu from 59 m to 67 m downhole in addition to 5 m of two.03 g/t Pd and 0.94% Cu from 73 m to 78 m downhole. Gap MB-21-45 is roughly 300 m north of the Marathon Deposit useful resource pit margin.

Gen Mining’s CEO Jamie Levy acknowledged, ‘The Marathon property continues to exceed expectations by way of its exploration potential. This discovery of high-grade copper and palladium assays in close to floor drill intercepts on development from the Marathon Deposit demonstrates the potential for useful resource enlargement and an extended mine life’.

The Chonolith space includes two discrete mineralized zones that are hosted by Marathon Sequence rocks which might be primarily Two Duck Lake gabbros. The higher zone, known as the Energy Line Zone, includes a close to floor intrusion managed by a footwall embayment (a thermally eroded channel) just like the structural setting of the Predominant Zone of the Marathon deposit. The decrease zone known as the Chonolith Zone is sort of completely different and primarily based on restricted historic drilling seems to be a channelized chonolith construction (a magma tube) inside the Archean footwall. This construction has a high and a backside in addition to sides which have but to be delineated. It is attainable that the Chonolith Zone is related to the Marathon Deposit and as such might be one in every of a number of essential feeder zones to the Marathon Deposit.

Each the Energy Line and Chonolith occurrences have been explored within the early 2000s. The primary three holes of the present drill program have been collared within the neighborhood of gap BO-06-20 drilled by Benton Sources in 2006 which intersected 100.5 m assaying 0.93 g/t Pd, 0.25 g/t Pt, 0.10 g/t Au and 0.58% Cu. All three holes drilled by Gen Mining intersected the close to floor Energy Line and the deeper Chonolith zones. Mineralization kinds are in step with these noticed elsewhere on the property. Of notice is the presence of bornite within the higher portion of MB-21-45 which coincides with elevated valuable metallic values in addition to predictably increased copper concentrations. Since this intercept is sort of near floor, and historic drill density is sort of low on this a part of the property, the realm will represent a precedence exploration goal going ahead.

Drilling of the Chonolith and Powerline is ongoing. One other three holes have been drilled and 5 extra stay to finish this part of the exploration drill program which is deliberate to wrap up on or about September fifteenth, 2021.

In regards to the Firm

Gen Mining’s focus is the event of the Marathon Undertaking, a big undeveloped platinum group metallic mineral deposit in Northwestern Ontario. The Firm launched the outcomes of the Feasibility Examine on March 3, 2021 and printed the NI43-101 Technical Report dated March 25, 2021. The Marathon property covers a land package deal of roughly 22,000 hectares, or 220 sq. kilometres. Gen Mining presently owns an 82.6% curiosity within the Marathon Undertaking, with the remaining curiosity owned by Sibanye-Stillwater.

The Feasibility Examine estimated that at US$1725/oz palladium, and US$3.20/lb copper, Marathon’s Internet Current Worth (at 6% low cost price) is roughly C$1.07 billion with a payback of two.3 years and an Inner Price of Return of 30%. Up entrance capital prices have been estimated at C$665 million. The mine would produce an estimated 245,000 palladium equal ounces per 12 months over a 13-year mine life at an All In Sustaining Price of US$809 per palladium-equivalent ounce.


Jamie Levy

Tel: (416) 640-2934

Electronic mail: [email protected]

Ahead-Wanting Data

This information launch comprises sure forward-looking info and forward-looking statements, as outlined in relevant securities legal guidelines (collectively referred to herein as ‘forward-looking statements’). Ahead-looking statements replicate present expectations or beliefs concerning future occasions or the Firm’s future efficiency. All statements aside from statements of historic truth are forward-looking statements. Usually, however not all the time, forward-looking statements might be recognized by means of phrases reminiscent of ‘plans’, ‘expects’, ‘is anticipated’, ‘price range’, ‘scheduled’, ‘estimates’, ‘continues’, ‘forecasts’, ‘tasks’, ‘predicts’, ‘intends’, ‘anticipates’, ‘targets’ or ‘believes’, or variations of, or the negatives of, such phrases and phrases or state that sure actions, occasions or outcomes ‘might’, ‘might’, ‘would’, ‘ought to’, ‘would possibly’ or ‘will’ be taken, happen or be achieved, together with statements referring to advancing the Marathon Undertaking to deliver the undertaking into manufacturing, and any future exploration. All forward-looking statements, together with these herein are certified by this cautionary assertion.

Though the Firm believes that the expectations expressed in such statements are primarily based on affordable assumptions, such statements are usually not ensures of future efficiency and precise outcomes or developments might differ materially from these within the statements. There are particular components that might trigger precise outcomes to vary materially from these within the forward-looking info. These embrace commodity value volatility, continued availability of capital and financing, uncertainties concerned in deciphering geological knowledge, will increase in prices, environmental compliance and adjustments in environmental laws and regulation, the Firm’s relationships with First Nations communities, exploration successes, and basic financial, market or enterprise circumstances, in addition to these threat components set out within the Firm’s annual info kind for the 12 months ended December 31, 2020, and within the steady disclosure paperwork filed by the Firm on SEDAR at Readers are cautioned that the foregoing checklist of things is just not exhaustive of the components that will have an effect on forward-looking statements. Accordingly, readers mustn’t place undue reliance on forward-looking statements. The forward-looking statements on this information launch converse solely as of the date of this information launch or as of the date or dates laid out in such statements.

Ahead-looking statements are primarily based on quite a lot of assumptions which can show to be incorrect, together with, however not restricted to, assumptions referring to: the supply of financing for the Firm’s operations; working and capital prices; outcomes of operations; the mine growth and manufacturing schedule and associated prices; the provision and demand for, and the extent and volatility of commodity costs; timing of the receipt of regulatory and governmental approvals for growth tasks and different operations; the accuracy of Mineral Reserve and Mineral Useful resource Estimates, manufacturing estimates and capital and working value estimates and basic enterprise and financial circumstances.

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