Marathon Gold Corporation (TSX: MOZ) is pleased to announce the continued success of the infill drilling campaign at the Marathon deposit. The new drilling has returned excellent results proving further lateral and vertical continuity of the high-grade gold between adjacent drill holes and confirming significant gold intervals in both hanging wall and footwall zones of the deposit to help reduce the strip ratio for the open pit. These drilling results continue to provide further confirmation of Marathon’s geological model and will assist in upgrading existing inferred resources within the Marathon Deposit into the Measured and Indicated resource categories.
“The 2019 drilling program is producing impressive results at the Marathon and Leprechaun deposits. At Marathon, the Main Zone is being drilled at a spacing of 10 to 20 meters between holes to give Measured and Indicated resources showing very good correlation with most of the high-grade intercepts in adjacent holes,” said Phillip Walford, President and CEO of Marathon Gold. “All of the holes we are reporting are in the Marathon PEA pit shell and the longer intercepts reported in this release will have a positive impact on the resource grade.”
TABLE 1: Significant assay intervals, Marathon Deposit, Valentine Gold Camp.
|Gold g/t||Gold g/t
* Cut to 45 g/t Au, MZ = Main Zone, HW = Hanging Wall, FW = Foot Wall
Figure 1: Location of drill hole collars MA-19-361 to MA-19-372, Marathon Deposit.
A 3D Model of the Marathon Deposit showing drill holes MA-19-361 to MA-19-372 is available at www.corebox.net.
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 (85-95% of core length).
Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Gold Camp located in Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Valentine Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t. 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 to depth and on strike. Gold mineralization has been traced down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. 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 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.
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