Developer award for Marathon

Marathon PGM Corp has been presented with the Northwestern Ontario Prospectors Association (NWOPA) Award for Developer of the Year for 2006.

The award was given at the NWOPA annual meeting on April 5, 2007. Phillip Walford, President and CEO, accepted the award on behalf of the company. Also present to accept the award were David Good (VP of Exploration), Sherry Dunsworth (Project Manager), Dave Galley (Prospector), Rod Swire (Prospector) and Ray Mason (Feasibility Study Manager). 

Walford commented, “The substantial progress that has been achieved is due to the dedication of an experienced team. Collectively, we are very gratified with this achievement and have the satisfaction of looking at a remarkable accomplishment.”

This prestigious award was given for the company’s aggressive development of the Marathon project in Ontario, Canada, from initial drilling in 2004 to a favourable preliminary economic assessment in 2006 and the commencement of a feasibility study in early 2007. The company more than doubled the in-pit resources of PGM, gold and copper from the beginning of drilling in 2004 and now has a measured and indicated resource of 2.9 Moz of PGM and gold and 514 Mlb of copper.

Based on the updated preliminary economic assessment, the Marathon project has an estimated mine life of 13.5 years at an annual production of some 195,000 oz PGM and gold and 36.5 Mlb of copper. A 35,000 m drilling campaign is currently underway to increase the resource.