Project Overview
The Marathon palladium-copper project, owned by Generation Mining, is located approximately 10-km north of the Town of Marathon, Ontario, adjacent to the Trans-Canada Highway No. 17 on the northeast shore of Lake Superior.
The Marathon Property is situated along the eastern margin of the Proterozoic Coldwell Complex, which is part of the Keweenawan Supergroup of igneous, volcanic, and sedimentary rocks. The Marathon Deposit is a midcontinent rift system (MRS) magmatic-style deposit in the Lake Superior region, where rift rocks are exposed at or near surface. It is hosted by the Two Duck Lake Gabbro (TDL Gabbro), a late intrusive phase of the Eastern Gabbro. The Marathon Deposit consists of several large, thick and continuous zones of disseminated sulfide mineralization comprising chalcopyrite, pyrrhotite, and minor amounts of bornite, pentlandite, cobaltite, and pyrite.
The mine will be a traditional open-pit, shovel-and-truck operation with three pits to be mined over 13 years, with an additional two years of pre-production mining to be undertaken where waste material is being mined for construction. Ore will be stockpiled ahead of plant commissioning.
The process plant will consist of a 25.2 kt/d with a subsequent ramp-up to 27.7 kt/d circuit with primary crushing, SAG and ball milling followed by flotation, concentrate dewatering and tailings impoundment. Cu-PGM flotation includes a rougher flotation circuit followed by regrinding rougher concentrate and cleaner circuit middlings with three stages of cleaning to yield a combined Cu-PGM concentrate.
Stream Details
| Date of Contract |
26-Jan-22 |
| Term |
Life of Mine |
| Stream |
100% of Au until 150 koz, thereafter 67% for life of mine
22% of Pt until 120 koz, thereafter 15% for life of miner |
| Upfront Consideration |
$240M |
| Delivery Payment Per Ounce |
18% of spot until upfront deposit repaid, 22% of spot thereafter |
| Cost Quartile |
Third |
For more information on the Marathon Project, please visit: www.genmining.com