ONTARIO — Optimization has improved the metrics for the Marathon platinum group project belonging to Marathon PGM Corp. of Toronto. The project is located (where else?) 10 km from the town of Marathon.
Micon International and Met-Chem Canada are studying ways to shorten lead times and cut costs for the project. In February 2009, pre-production capital costs were expected to be $49.2 million. The revised feasibility study will include new estimates of all major capital and operating costs, a new reserve statement and a new mine plan. It is due to be completed by the end of this year.
Recent metallurgical tests, the results of which were released in June 2009, showed improved recoveries for all metals. Platinum recovery reached 81% (up 8%), palladium was 91% (up3%), gold was 83% (up 5%) and copper was 91% (approximately the same as earlier reported recovery). Using these increased recovery rates will allow Marathon to improve the economic outlook of the project.
The website, www.MarathonPGM.com, has a stunning photo gallery of exploration at the Marathon project.