Hemlo Explorers Embarks on Diamond Drilling Campaign at Project Idaho

Ontario’s mining sector, particularly the region near Marathon, has been a hub of activity for several mining companies, including Hemlo Explorers and Generation Mining. 

Marathon is located in the Thunder Bay District of Northwestern Ontario. It’s situated on the north shore of Lake Superior, approximately 300 kilometers east of Thunder Bay. This region is part of the Canadian Shield, known for its rich mineral resources. The town itself was built to support the mining activities in the area, and it continues to be a significant hub for mining operations in Ontario.

Hemlo Explorers‘ Project Idaho, located approximately 2-3 km east of Generation Mining’s Marathon Palladium-Copper Project, is a significant sulfide intersection on the western edge of the Hemlo’s Pic Project. The property spans 1,385 hectares over 79 claims and was a major focus for the company’s 2022 exploration season.

Historically, the property has seen limited exploration. The 2022 exploration season at Project Idaho was marked by significant advancements. The exploration program included mapping and prospecting, rock and soil sampling, airborne VTEM, and high-resolution magnetics, along with structural interpretation. 

A total of 1,105 soil samples were collected, with numerous samples containing anomalous Platinum, Palladium, and Gold. 

This defined a north-south trend along the western portion of the project area and the Coldwell Complex boundary.

In terms of nearology, Project Idaho is situated just 2-3 km east of Generation Mining’s Marathon Palladium-Copper proposed open pit operation. Generation Mining‘s Marathon project has recently delivered an updated feasibility study, highlighting resource estimates and palladium and copper grades. 

The Marathon Project resource estimates, measured and indicated, include 4.2 million ounces of palladium and 1.1 billion pounds of copper. 

The project’s economics project a 13-year mine life with an IRR of 30%. The NPV at a 6% discount rate is estimated to be $1.0 billion, with a payback period of 2.3 years. These figures underscore the potential profitability and long-term viability of the Marathon project, setting a promising precedent for nearby projects like Project Idaho

Hemlo Explorers has recently commenced its maiden drill campaign on Project Idaho, targeting several VTEM anomalies identified in 2022 that occur at depth along a 3-kilometre NS-striking magnetic trend. 

The targets were chosen to intersect VTEM anomalies that correspond to surface Platinum, Palladium, Gold, and Copper mineralization.

“We believe we have the potential to discover a significant mineralized system similar to the Marathon Pd-Cu project,” said Brian Howlett, President and CEO of Hemlo Explorers. “We are excited to be drilling the western side of Project Idaho close to a neighbouring deposit in virgin ground.”

The Marathon region in Ontario, with its rich mineral resources and active mining projects, presents a wealth of opportunities. The recent exploration activities and promising findings at Project Idaho underscore the potential for significant mineral discoveries in the region. With companies like Hemlo Explorers and Generation Mining leading the way, the region is poised to further strengthen its position in the global mining landscape.