StreetSmart Live! Presents Frank Holmes’ Virtual Junior Mining Expo on 11/12/2020. Learn More

Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: GENM; GENMF; 9GN

Company Sees 'Significant Increase' in PGM, Copper Recovery Rates at Ontario Project
News Update

Share on Stocktwits

Source:

Generation Mining achieves this result during phase 1 of its current metallurgical testing program.

In a news release, Generation Mining Ltd. (GENM:TSX; GENMF:OTCQB; 9GN.F) announced at its Marathon Palladium project in northwestern Ontario it "successfully completed bench-scale metallurgical test work, resulting in a favorable and significant increase to projected Platinum Group Metals (PGM) and copper (Cu) recovery. Expected increases in metal recovery will be included in the feasibility study work."

The recently completed test work was done on composite samples of 2019 drill core obtained from the South Pit and the Main zone at the northwest Ontario property. Platinum recovery increased the most, by 9.7%, to 84.2% from 74.5%. The next highest recovery rate increase was with palladium, which went up 4%, to 86.9% from 82.9%. Copper had the highest recovery rate at 93%, which was up from 90%. The company noted that gold recovery decreased by 0.8%, to 72.4% from 73.2%. Silver wasn't tested this time around.

"We are extremely pleased with the Phase 1 Metallurgical Testing program," President and CEO Jamie Levy said in the release. A 4% improvement in recovery for palladium, a 3% improvement for copper, and a 10% recovery for platinum is a direct financial benefit to the Marathon Project. The test program also considered the inclusion of the innovative Woodgrove DFR technology in process plant design which will assist in decreasing constructed capital costs when compared to the implementation of conventional technology."

The next step for Generation Mining, which already is underway, is phase 2 metallurgical testing at the SGS-Lakefield pilot plant. The aims are, one, to fully validate the flowsheet and, two, to produce a final concentrate that will enhance concentrate marketing and increase confidence in the plant's functioning. The time needed to carry out this work will extend into Q4/20 but will not delay completion of the feasibility study or study design, the company stated.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Generation Mining. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.




Want to read more about Base Metals and PGM - Platinum Group Metals investment ideas?
Get Our Streetwise Reports Resources Report Newsletter Free and be the first to know!

A valid email address is required to subscribe