Marathon PGM Corporation has been in touch with Chinese firms over possible investment in its flagship pgm project in Canada, it has been confirmed.

The self-titled project incorporates the Geordie Lake and Valentine Lake sites in Ontario and the company has been prioritising its financing in recent times.

As a result, Marathon officials flew out to China to gauge the level of interest from several parties as drilling and geophysical surveys continue at both facilities.

"We are moving the Marathon project through the financing and permitting steps and improving the resource base of both Valentine and Geordie Lake," commented President and Chief Executive Phillip Walford.

"This is our busiest year to date and we have lots on the go."

Mr Walford also revealed that permitting is on track and advancing through the formal regulatory review process, with locals optimistic that the project could create hundreds of jobs.

Marathon sent some of its test pgm-copper concentrate to four smelters in North America, Europe and Asia in 2009 and it confirmed that three have now registered "serious" interest.

The company believes the deposit to boast reserves of 91.45 million tonnes, at a grade of 0.832 g/t palladium, 0.237 g/t platinum, 0.085 g/t gold, 0.247 per cent copper and 1.44 g/t silver.

In addition, it is thought to contain approximately 2.44 million ounces of palladium, 696,000 oz of platinum, 251,000 oz of gold, 497 million lb of copper and 4.23 million ounces of silver.

Marathon released the optimised definitive feasibility on the project in January 2010.

Sources:

Marathon PGM Corporation: Corporate and Project Update (10/06/10)

Marathon making progress on finance, offtake for Ontario PGM mine (10/06/10)

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