Toronto-based Generation Mining Limited (TSX: GENM; OTCQB: GENMF) has officially filed its updated National Instrument 43-101 Technical Report for the Marathon Copper-Palladium Project.
The report, titled Marathon Copper-Palladium Project – Feasibility Study Report Update, is dated March 28, 2025, with an effective date of November 1, 2024.
This filing follows the announcement of its results in a news release issued on March 27, 2025.
The updated feasibility study highlights the robust economic potential of the Marathon Project, located near the town of Marathon in Northwestern Ontario.
Key findings include an after-tax net present value (NPV) of CA$1.07 billion at a 6 per cent discount rate and an internal rate of return (IRR) of 28 per cent, with a payback period of just 1.9 years based on trailing three-year average metal prices.
The study also projects strong critical mineral production during pre-production and the first three years of commercial operation, including 151 million pounds (Mlbs) of payable copper, 720,000 ounces (koz) of palladium, and 156 koz of platinum.
Initial capital costs are estimated at CA$992 million, with life-of-mine all-in sustaining costs (AISC) calculated at US$2.05 per pound of copper equivalent or US$781 per ounce of palladium equivalent.
The project is expected to generate over 800 jobs during construction and more than 400 permanent positions during operations.
The feasibility study incorporates optimisation work aimed at improving early cash flows and reducing capital expenditures.
This includes adjustments to the mine plan to maximise metal production and defer waste stripping in the early years, as well as refinements to the process plant design to reduce initial capital costs.
President and CEO Jamie Levy emphasised the strategic significance of the Marathon Project as Ontario’s next critical mineral mine, noting its strong commodity mix and importance in bolstering North America’s mineral supply chain.
The Technical Report is now accessible on Generation Mining’s website and through SEDAR+.
This shovel-ready project awaits final permitting approval from the Government of Ontario, positioning it as a key player in Canada’s critical mineral landscape.
