ONTARIO — Marathon PGM Corp. of Toronto has announced plans to develop the Geordie Lake deposit 14 km northwest of the town of Marathon, ON. Development of another mine will extend the life of the company's Marathon project, which is in the advanced exploration stage.
Geordie Lake measured and indicated resources total 25.98 million tonnes at 0.34% Cu, 0.55 g/t Pd, 0.034 g/t Pt, 0.06 g/t Au and 2.30 g/t Ag. That portion of the resource contains 531,000 oz of platinum group metals and gold, 195.7 million lb of copper, and 1.94 million oz of silver recoverable by open pit methods. Additional zones have been discovered both to the west and east of the Geordie Lake deposit.
Marathon says that multiple layers of PGM and copper mineralization are hosted within the north-trending Geordie Lake gabbro. Mineralized layers range in thickness from 4 metres to 62 metres, dipping to the west at 45° and has been traced over a strike length of 1,800 metres. The deposit is open down dip to the west and along strike to the north.
To view a cross section of the Geordie Lake deposit, please go to http://www.MarathonPGM.com/newsmaps/2009-24.jpg