A new resource estimate for the Marathon copper-palladium-platinum deposit in north-central Ontario shows about 1.7 million oz. palladium and platinum in measured and indicated resources.
Owner Marathon PGM (MAR-V) commissioned P&E Mining Consultants for the resource calculation, which will be used in a preliminary economic study of the deposit.
The deposit has 40 million tonnes in the measured and indicated categories, grading 0.36% copper, 1.07 gram palladium, 0.29 gram platinum and 0.1 gram gold per tonne. Another 4.6 million tonnes grading 0.31% copper, 1.06 gram palladium, 0.33 gram platinum and 0.12 gram gold per tonne was inferred.
The resources are all inside a conceptual open-pit outline. Most of the mineralized zones are still open at depth or along strike.
The measured and indicated resource totals 1.4 million oz. palladium, plus 372,000 oz. platinum and 128,000 oz. gold. About 144,000 tonnes of copper are in the resource.
Marathon plans 11,000 metres of additional drilling to expand the resource and P&E is performing a scoping-level economic analysis of the project.
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