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Infill Drilling at Marathon Deposit confirms thick continuous mineralization, 1.54 g/t Au over 149.0 meters, Valentine Lake Gold Camp, Newfoundland

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Infill Drilling at Marathon Deposit confirms thick continuous mineralization, 1.54 g/t Au over 149.0 meters, Valentine Lake Gold Camp, Newfoundland

 

 

 

 

 

Marathon Gold Corporation (TSX: MOZ) is pleased to announce the intersection of a very wide, continuous interval of gold mineralization at open-pit depths within the NE end of the main mineralized corridor of the Marathon Deposit (Figure 1). Drill hole MA-18-303 was very successful in intersecting high grade gold intervals within en-echelon stacked QTP veining including 1.54 g/t Au over 149.0 meters with 6.60 g/t Au over 5.0 meters, 6.35 g/t Au over 6.0 meters and 4.86 g/t Au over 6.0 meters as well as 1.47 g/t Au over 10 meters (including 8.08 g/t Au over 1 meter) and 6.54 g/t Au over 3.0 meters. This drill hole was part of the current ongoing infill drilling program at the Marathon Deposit designed to upgrade Inferred to the Measured and resource category.

 

 

“The intersection of such a wide thick interval of mineralization with good gold grades in the pit shell is very encouraging in upgrading the Marathon resource.” said Phillip Walford, President and CEO of Marathon Gold. “The infill program is going very well to upgrade the resources in advance of the Pre-Feasibility Study. We are also drilling to reduce the strip ratios of the current resource pits and seeking new pit resources at Victory South West to build on the economic model from the very positive PEA released May 17, 2018.”

 

 

TABLE 1: Significant assay intervals, Marathon Deposit, Valentine Lake Gold Camp.

 

 

DDH Section From To Core Length
(m)
True Thickness
(m)
Gold g/t Gold g/t
(cut)*
MA-18-303 17350 39 42 3 2.9 4.18  
    55 58 3 2.9 0.86  
    62 65 3 2.9 1.54  
    68 73 5 4.8 2.23  
    79 89 10 9.5 1.47  
including   88 89 1 0.95 8.08  
    100 249 149 141.6 1.54  
including   109 111 2 1.9 4.43  
including   129 134 5 4.8 6.60  
including   144 148 4 3.8 4.27  
including   185 191 6 5.7 6.35  
including   208 210 2 1.9 4.38  
including   229 235 6 5.7 4.86  
    297 302 5 4.8 3.89  
    307 310 3 2.9 1.78  
    364 367 3 2.9 1.68  
    386 389 3 2.9 3.72  
    398 401 3 2.9 6.54  
    408 411 3 2.9 1.86  
    427 430 3 2.9 1.53  
    446 449 3 2.9 1.77  
MA-18-302 17240 57 60 3 2.9 3.04  
    302 305 3 2.9 3.60  
    358 361 3 2.9 2.46  
    482 487 5 4.8 3.33  
    496 499 3 2.9 5.75  
    594 604 10 9.5 1.86  
including   601 604 3 2.9 3.10  
MA-18-301 17370 48 52 4 3.8 0.77  
    110 113 3 2.9 0.86  
    211 214 3 2.9 1.11  
    303 306 3 2.9 2.49  
MA-18-300 17220 11 15 4 3.6 1.45  
    43 53 10 9.0 2.64  
including   47 52 5 4.5 4.87  
    58 61 3 2.7 1.39  
    130 133 3 2.7 2.62  
    373 376 3 2.7 1.98  
    398 402 4 3.6 21.10 11.61
    458 461 3 2.7 2.40  
MA-18-299 17340 84 87 3 2.9 1.43  
    485 488 3 2.9 4.68  
MA-18-298 17200 27 30 3 2.7 2.57  
    43 55 12 10.8 1.98  
including   47 50 3 2.7 6.87  
    512 515 3 2.7 3.11  
    529 533 4 3.6 5.06  
    621 624 3 2.7 2.64  
    631 634 3 2.7 1.36  

 

*Cut to 45 g/t Au.

 

Figure 2: Location of drill hole collars MA-18-298 to MA-18-303, Marathon Deposit. 

http://www.globenewswire.com/NewsRoom/AttachmentNg/5b85daa8-f68b-4179-a23d-f8bc96a8842e

 

 

Acknowledgments

 

 

Marathon acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

 

 

Quality Assurance-Quality Control

 

Sherry Dunsworth, M.Sc., P. Geo., Senior VP of Exploration, Marathon’s Qualified Person, has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Thorough QA/QC protocols are followed including the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half with one half retained at site, the other half tagged and sent to Eastern Analytical Limited in Springdale, Newfoundland. All reported core samples are analyzed for Au by fire assay (30g) with AA finish. All samples above 0.10 g/t Au in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported in Table 1 as core lengths and estimated true thickness (90-95% of core length).

 

 

About Marathon

 

 

Marathon Gold Corp. is a high-quality growth-oriented gold development company with a long-term strategy of moving the 100% owned Valentine Lake Gold Camp through to production in central Newfoundland. Marathon recently completed a positive PEA that shows an average annual production of 188,500 ounces per year over the first 10 years, payback of 2.8 years, NPV (5%) of $367 million (USD) and an IRR of 25.3%, all after-tax. The Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,137,100 oz. of gold at 1.99 g/t and inferred resources totaling 1,104,800 oz. of gold at 1.99 g/t. Most of the resources occur at the Marathon and Leprechaun Deposits. All the deposits are open to expansion. Marathon’s 240 sq. km sized Valentine Lake property has multiple exploration targets to be explored in 2018.

 

Posted September 6, 2018

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