TORONTO, Aug. 21, 2019 (GLOBE NEWSWIRE) -- Generation Mining Limited (CSE:GENM) (“Gen Mining” or the “Company”) is pleased to announce that it has staked 215 new claim blocks totaling 4558 hectares. This will increase the companies land position to include 45 leases and 1071 claims which total 21,965 hectares or 219.65 square kilometers.
The newly staked ground was acquired based on the unique magnetic signature of the Eastern Gabbro series rocks which host palladium (“Pd”) and copper (“Cu”) mineralization at the main Marathon deposit as well as at the Company’s three other main project areas – Geordie, Sally and Boyer – within the Coldwell Complex near Marathon, Ontario.
Exploration during the 2014-2017 period had identified mineralized intrusions corresponding to units of the Eastern Gabbro which had intruded the Archean footwall along the eastern and northern margins of the Coldwell Complex. Eastern Gabbro rocks have a reversely magnetized signature, which is distinct from the surrounding rocks, and are considered prospective for Pd-Cu mineralization.
Qualified Person
Rod Thomas, P.Geo., is a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects, and the Company's Vice-President, Exploration, and a Director. He has prepared or reviewed and approved the scientific and technical information contained in this news release.
About Generation Mining Limited
Generation Mining Limited is a precious and base metal exploration and development company with various property interests throughout Canada. Its primary business objective is to explore and further develop these properties, and to continue to increase its portfolio of base and precious metal property assets through acquisition. The Company’s common shares trade on the Canadian Securities Exchange (“CSE”) under the symbol GENM.
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bf06807c-621a-42a4-b0cd-59dca8ec1066
Figure 1
Generation Mining Increases Land Position at Marathon Project