Generation Mining economic study estimates 14-year production life
A base metal deposit outside the town of Marathon has the potential to be an open-pit mine. Toronto’s Generation Mining is placing a 14-year mine life on its Marathon Palladium and Copper Project after releasing the results of a favourable preliminary economic assessment (PEA).
The company bills the deposit as North America’s largest undeveloped platinum group metal (PGM) mineral resource.
Once known as the Marathon PGM property, the 22,000-hectare parcel of land is 10 kilometres from the community near the north shore of Lake Superior, and has seen a plenty of exploration activity over the years by a succession of companies.
According to a Jan. 6 news release, the proposed mine and processing mill would produce an average of 107,000 ounces of palladium annually from three pits over its production life, not including some copper, platinum, gold and silver.
The operation would create jobs for 312, including those behind the wheel of 221-tonne capacity haul trucks and others operating shovels in the pits with 29 cubic metre buckets. The all-in-sustaining cost is pegged at $US586 per ounce.
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