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Leprechaun’s High Grade Gold Core Continues to Expand: 5.72 g/t Au over 16.0m, 4.00 g/t Au over 26.0m, and 4.11 g/t Au over 13.0m, Valentine Gold Camp, NL

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Marathon Gold Corporation (TSX: MOZ) is very pleased to announce the continued positive results from a very successful 2019 infill drilling campaign at the Leprechaun Deposit. These latest drill results, along with the exciting results of previously released 2019 drill holes in the Main Zone corridor (refer to Figure 1), were part of the series of planned infill drill holes that covered a more than 800-meter strike length of the Main Zone corridor, penetrated down through the shallow SW dipping, stacked gold-bearing QTP veins which form the dominant vein orientation within the Main Zone corridor of the Leprechaun Deposit; providing increased width to the Main Zone corridor, increased gold grade, and increased continuity the high-grade mineralization extending from surface to the bottom of the open pit and beyond into potential future underground resource development. This 69-drill hole, 20,468 meter infill drilling campaign is expected to add significantly to the gold grade and ounces of gold in the next resource update for the Leprechaun Deposit which is anticipated to be completed in September 2019.  

 

“The Leprechaun infill/definition drilling program has been highly successful in extending the Main Zone high grade mineralization for 700 m along strike and to a depth of approximately 250 m. High grade mineralization has been intersected both near surface and at depth where the PEA resource model has either low grade or gaps.” Said Phillip Walford, President and CEO of Marathon Gold. “I am really looking forward to the new Leprechaun resource and the results of Marathon infill and definition drilling.”

 

TABLE 1: Significant assay intervals, Leprechaun Deposit, Valentine Gold Camp

 

 

DDH Zone* Section From To Core Length (m) True Thickness (m) Gold g/t
VL-19-729 HW 10130 165 177 12 8.4 2.93
including     166 168 2 1.4 8.39
      222 225 3 2.1 1.61
VL-19-730 HW 10520 84 87 3 2.6 0.82
VL-19-731 MZ 9930 157 171 14 11.2 2.39
      192 195 3 2.4 3.40
VL-19-732 MZ 10540 141 149 8 6.4 1.56
      178 181 3 2.4 2.27
VL-19-733 HW 10130 66 69 3 2.6 1.11
      91 94 3 2.6 1.69
      275 279 4 3.4 1.47
      286 291 5 4.3 6.92
VL-19-734 HW 10450 102 105 3 2.6 2.76
      155 161 6 5.1 6.56
including     157 159 2 1.7 16.68
      196 199 3 2.6 4.30
VL-19-735 MZ 9970 39 55 16 11.2 5.72
including     43 49 6 4.2 12.93
      208 211 3 2.1 2.17
      269 282 13 9.1 3.89
including     280 282 2 1.4 11.29
      286 289 3 2.1 3.57
VL-19-736 HW 10310 5 8 3 2.4 2.54
      100 103 3 2.4 1.01
      214 219 5 4.0 2.22
      223 236 13 10.4 4.11
including     224 227 3 2.4 10.68
VL-19-737 HW 10390 48 51 3 2.6 1.10
      122 125 3 2.6 1.10
      183 187 4 3.4 3.49
VL-19-738 MZ 10220 2 15 13 10.4 2.84
including     13 15 2 1.6 10.27
      22 34 12 9.6 2.93
including     28 30 2 1.6 14.57
VL-19-739 HW 9850 165 168 3 2.4 1.43
      179 182 3 2.4 7.16
VL-19-740 MZ 10240 13 16 3 2.6 1.28
      29 32 3 2.6 2.15
      66 74 8 6.8 1.10
      143 156 13 11.1 3.03
VL-19-741 MZ 9910 45 51 6 4.8 1.01
      58 61 3 2.4 3.80
      66 69 3 2.4 9.96
      103 106 3 2.4 1.46
      295 298 3 2.4 1.66
      331 334 3 2.4 1.81
      338 341 3 2.4 7.25
      409 412 3 2.4 1.50
      420 423 3 2.4 2.55
VL-19-742 HW 9850 87 91 4 3.2 6.95
      119 124 5 4.0 9.73
including     120 122 2 1.6 15.49
VL-19-743 MZ 10220 5 8 3 2.4 2.35
      13 16 3 2.4 1.38
      33 37 4 3.2 1.32
      43 46 3 2.4 8.73
      52 57 5 4.0 3.55
      86 89 3 2.4 9.71
      112 118 6 4.8 3.30
      162 165 3 2.4 1.06
      185 188 3 2.4 1.28
VL-19-744 MZ 10030 16 22 6 4.8 4.09
      28 31 3 2.4 1.06
      73 89 16 12.8 2.90
including     82 86 4 3.2 7.70
      96 103 7 5.6 5.90
VL-19-745 MZ 9870 49 52 3 2.4 0.98
      109 112 3 2.4 10.94
VL-19-746 MZ 10010 30 36 6 4.8 2.42
VL-19-747 MZ 9920 7 33 26 20.8 4.00
including     15 17 2 1.6 27.50
      40 43 3 2.4 1.32
      79 82 3 2.4 2.43
      101 104 3 2.4 1.08

 

*MZ = Main Zone, HW = Hanging wall

 

Figure 1: Location of Main Zone corridor, diamond drill hole collars VL-19-729 to VL19-747 and cross sections 9920E and 10220E, Leprechaun Gold Deposit.

https://www.globenewswire.com/NewsRoom/AttachmentNg/7baacd9e-3a14-4b36-aaf8-af8b6ee105d6

 

Figure 2: Cross-section 9920E, Leprechaun Deposit, showing the 30 to 100 meter-wide, moderately NW dipping Main Zone corridor composed of thick and laterally extensive high-grade gold mineralization within en-echelon, shallow SW dipping QTP-Au veining. Note the fire assay intervals 4.00 g/t Au over 26.0 meters including 27.50 g/t Au over 2.0 meters in VL-19-747 and 2.39 g/t Au over 14.0 meters in VL-19-731.

https://www.globenewswire.com/NewsRoom/AttachmentNg/2629b079-1c5f-4303-bba1-aba6e66f9894

 

Figure 3: Cross-section 10220E, Leprechaun Deposit, showing the 30 to 100 meter-wide, moderately NW dipping Main Zone corridor composed of thick and laterally extensive high-grade gold mineralization within en-echelon, shallow SW dipping QTP-Au veining. Note the fire assay intervals of 2.84 g/t Au over 13.0 meters and 2.93 g/t Au over 12.0 meters in VL-19-738 and 8.73 g/t Au over 3.0 meters, 9.71 g/t Au over 3.0 meters and 3.30 g/t Au over 6.0 meters in VL-19-743.

https://www.globenewswire.com/NewsRoom/AttachmentNg/87133de2-3b56-4582-91a0-1475ba859b49

 

Please view the new video posted on our website www.marathon-gold.com showing the preliminary layout plan for future mine site.

 

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 (70% – 85% of core length).

 

About Marathon

 

Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world.  Marathon has confirmed the feasibility of the Valentine Gold Camp, which currently hosts four near-surface NI 43-101 compliant, mainly pit-shell constrained, deposits with measured resources totaling 16.6 million tonnes at a grade of 2.18 g/t containing 1,166,500 oz. of gold, indicated resources totaling 28.5 million tonnes at a grade of 1.66 g/t containing 1,524,900 oz. of gold and inferred resources totaling 26.9 million tonnes at a grade of 1.77 g/t containing 1,531,600 oz. of gold.

 

The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell.  Both deposits are open at depth and on strike.  Gold mineralization has been traced down almost a kilometer vertically at Marathon and over 350 meters at Leprechaun. The four deposits identified to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.

 

The Valentine Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid. Marathon maintains a 50-person all-season camp at the property.  Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and an average of 65 to 72% extraction rates for 23 mm (1/2 inch) material via lower cost heap leaching at the Marathon and Leprechaun Deposits respectively.

 

Posted August 8, 2019

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