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Marathon Gold Reports Latest Berry Infill Drill Results

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Marathon Gold Reports Latest Berry Infill Drill Results

 

 

 

 

 

Results include 4.16 g/t Au over 11m, 2.51 g/t Au over 13m, 7.64 g/t Au over 4m, 1.24 g/t Au over 24m, 1.99 g/t Au over 11m

 

 

Marathon Gold Corporation (TSX: MOZ) is pleased to report the latest drill assay results from the Valentine Gold Project in central Newfoundland (Figure 1). These latest results represent fire assay data from fifteen diamond drill holes completed as part of the ongoing in-fill drill campaign at the 1.5 kilometre long Berry Deposit. Highlights include:

 

  • VL-21-1040 intersected 10.86 g/t Au over 2 metres, and 9.33 g/t Au over 2 metres including 12.33 g/t Au over 1 metre, and 7.67 g/t Au over 2 metres including 13.29 g/t Au over 1 metre, and 7.18 g/t Au over 2 metres including 12.92 g/t Au over 1 metre;
  • VL-21-1042 intersected 4.16 g/t Au over 11 metres including 20.93 g/t Au over 1 metre and including 19.07 g/t Au over 1 metre;
  • VL-21-1052 intersected 2.51 g/t Au over 13 metres including 25.33 g/t Au over 1 metre, and 1.03 g/t Au over 12 metres;
  • VL-21-1050 intersected 7.64 g/t Au over 4 metres including 27.59 over 1 metre, and 1.24 g/t Au over 24 metres;
  • VL-21-1041 intersected 1.99 g/t Au over 11 metres, and 0.90 g/t Au over 18 metres; and
  • VL-21-1047 intersected 1.35 g/t Au over 14 metres;

 

All quoted intersections comprise uncut gold assays in core lengths. All significant assay intervals are reported in Table 1.

 

Matt Manson, President and CEO, commented: “These latest drill results represent further in-fill drilling at Berry in two areas where positive results offer us the potential to expand the overall scope of the deposit. These are the hanging-wall area in the western portion of the Berry Deposit and the “saddle area” between the two conceptual pit shells used in the April 2021 Mineral Resource Estimate. The western hanging-wall area continues to reward us with strong intercepts of resource grade material and is bulking-up well, as illustrated in plan view in Figure 2 and in the long-section in Figure 3. The “saddle area” is showing mineralization at greater depths, within the scope of a large single pit shell for the whole deposit, as illustrated in the long-section view and in the cross sections of Figures 4 and 5.” Matt Manson continued: “We currently have four diamond drill rigs operating at Valentine as part of our 2021 exploration program: one rig at the Berry Deposit, two rigs at the Victory Deposit, and one rig at the Sprite Deposit. Of note, drilling at Victory has revealed strong areas of mineralization in previously untested areas adjacent to the Valentine Lake Shear Zone, with visible gold. We expect to be reporting results from our exploration drill programs on a regular basis through to the end of the year.”

 

Gold mineralization at the Valentine Gold Project is contained predominantly within shallowly southwest dipping, en-echelon stacked Quartz-Tourmaline-Pyrite-Gold veins. At the Leprechaun, Marathon and Berry Deposits, these QTP-Au veins form densely stacked and northwest plunging “Main Zone” envelopes within intrusive host rocks on the hanging wall (northwest) side of the Valentine Lake Shear Zone (“VLSZ”; Figure 1). The extent of mineralization appears related to the size and frequency of sheared mafic dykes which extend northeast-southwest within the hanging wall, parallel to the shear zone.

 

Figure 1: Location Map, Valentine Gold Project

https://www.globenewswire.com/NewsRoom/AttachmentNg/4ec5b3ee-9b60-4285-9e45-8fd4c9ca2df0

 

The results released today are derived from six drillholes located on sections 13700E and 13800E at the western end of the Berry Deposit, and nine drillholes located between sections 14300E and 14540E, close to, or within, the connecting “saddle area” between the two conceptual pit shells utilized in the April 2021 Berry Mineral Resource Estimate (Figure 2).

 

Three of the fifteen holes were oriented on a southeast azimuth towards the footwall contact with the VLSZ to test for mineralization at progressive distances into the Berry Deposit’s hanging-wall rocks (VL-21-1039, 1043, 1045). Twelve of the fifteen holes were oriented steeply down to the northwest testing for Main Zone type stacked QTP-Au mineralization, either close to the VLSZ (VL-21-1040, 1042, 1046, 1048) or within the hanging-wall (VL-21-1041, 1044, 1047, 1049, 1050, 1051, 1052, 1053).

 

Thirteen of the fifteen drill holes returned “significant” drill intercepts of greater than 0.7 g/t Au (Table 1), and all but one of the fifteen returned additional intercepts with gold grades above the 0.3 g/t Au cut-off used in the April 2021 Berry Mineral Resource Estimate.

 

Figure 2: Location of Berry Deposit Exploration Drill Hole Collars VL-21-1039 to VL-21-1053

https://www.globenewswire.com/NewsRoom/AttachmentNg/ffc8b3a7-f246-43f2-9be5-d3a077a8d779

 

Figure 3: Long Section of the Berry Deposit (View NW) Incorporating 84,448 meters of Drilling up to and Including VL-21-1053 and Assays Above 0.3 g/t Au.

https://www.globenewswire.com/NewsRoom/AttachmentNg/8a4e0ae5-c34f-4670-a9fe-99d31e17cfbb

 

Table 1: Significant Assay Intervals from Drill Hole Collars VL-21-1039 to VL-21-1053, Berry Deposit, Valentine Gold Project

 

DDH Section Az Dip From To Core Length (m) True Thickness (m) Gold g/t Gold g/t (cut)
VL-21-1039 14280E 164 -65 266 267 1 0.85 0.71  
        301 302 1 0.85 0.74  
VL-21-1040 14300E 345 -76 7.11 18 10.89 9.80 0.99  
        25 26 1 0.90 1.18  
        30 32 2 1.80 7.18  
Including       30 31 1 0.90 12.92  
        43 46 3 2.70 4.09  
        63 65 2 1.80 2.51  
        72 73 1 0.90 10.66  
        102 103 1 0.90 0.77  
        131 133 2 1.80 4.87  
        160 162 2 1.80 4.20  
        213 215 2 1.80 9.33  
Including       214 215 1 0.90 12.33  
        221 224 3 1.80 4.33  
        248 258 10 9.00 0.85  
        263 266 3 2.70 2.07  
        270 271 1 0.90 1.25  
        277 278 1 0.90 3.48  
        300 301 1 0.90 8.87  
        306 308 2 1.80 10.86  
        324 326 2 1.80 7.67  
Including       324 325 1 0.90 13.29  
VL-21-1041 13720E 345 -77 38 40 2 1.80 4.37  
        51 52 1 0.90 3.76  
        60 64 4 3.60 1.37  
        80 91 11 9.90 1.99  
        98 100 2 1.80 0.76  
        114 115 1 0.90 9.60  
        124 126 2 1.80 2.69  
        148 150 2 1.80 0.77  
        174 175 1 0.90 0.77  
        204 222 18 16.20 0.90  
        233 235 2 1.80 0.82  
        261 262 1 0.90 3.95  
        267 268 1 0.90 0.94  
        277 282 5 4.50 0.87  
        294 299 5 4.50 3.74  
VL-21-1042 14300E 341 -77 46 48 2 1.80 0.85  
        50 51 1 0.90 0.78  
        104 105 1 0.90 1.60  
        108 109 1 0.90 2.35  
        134 135 1 0.90 0.99  
        151 152 1 0.90 0.86  
        192 199 7 6.30 1.15  
        249 251 2 1.80 0.86  
        257 261 4 3.60 0.81  
        268 279 11 9.90 4.16  
Including       270 271 1 0.90 20.93  
Including       278 279 1 0.90 19.07  
        284 288 4 3.60 1.28  
        295 297 2 1.80 1.34  
        313 315 2 1.80 1.20  
        318 319 1 0.90 10.57  
        324 326 2 1.80 0.93  
        330 332 2 1.80 0.88  
VL-21-1043 14400E 166 -70 28 29 1 0.85 2.53  
        132 133 1 0.85 2.61  
        140 141 1 0.85 3.16  
        148 149 1 0.85 0.70  
        288 290 2 1.70 1.49  
        327 330 3 2.55 1.61  
VL-21-1044 13720E 345 -75 103 107 4 3.60 0.71  
        139 140 1 0.90 6.59  
        212 214 2 1.80 2.07  
        220 222 2 1.80 0.97  
VL-21-1045 13700E 167 -70 170 171 1 0.85 1.49  
        217 218 1 0.85 0.89  
        223 228 5 4.25 2.29  
        249 250 1 0.85 1.75  
        259 260 1 0.85 1.35  
        275 276 1 0.85 3.24  
        302 303 1 0.85 4.89  
        328 329 1 0.85 3.15  
        353 355 2 1.70 7.64  
VL-21-1046 14450E 338 -77 56 57 1 0.90 4.67  
        59 60 1 0.90 1.89  
        107 108 1 0.90 0.73  
        118 120 2 1.80 1.70  
        154 156 2 1.80 3.53  
        172 176 4 3.60 3.21  
        174 175 1 0.90 11.16  
        196 197 1 0.90 8.07  
        214 217 3 2.70 0.97  
        223 224 1 0.90 1.91  
VL-21-1047 14270E 342 -77 26 28 2 1.80 2.40  
        149 155 6 5.40 1.12  
        161 162 1 0.90 0.88  
        176 177 1 0.90 1.47  
        192 193 1 0.90 6.64  
        247 248 1 0.90 2.32  
        267 281 14 12.60 1.35  
        295 296 1 0.90 0.95  
VL-21-1048 14540E 346 -77 110 111 1 0.90 7.37  
        273 274 1 0.90 5.27  
VL-21-1050 14200E 343 -81 17 18 1 0.95 1.51  
        27 30 3 2.85 1.04  
        43 44 1 0.95 4.59  
        52 58 6 5.70 1.76  
        71 75 4 3.80 2.00  
        82 83 1 0.95 3.03  
        85 89 4 3.80 7.64  
Including       86 87 1 0.95 27.59  
        124 125 1 0.95 0.95  
        141 146 5 4.75 0.72  
        160 161 1 0.95 3.56  
        202 203 1 0.95 1.96  
        212 236 24 22.80 1.24  
        261 262 1 0.95 0.92  
        288 289 1 0.95 1.84  
        292 294 2 1.90 0.76  
        310 319 9 8.55 1.05  
        324 325 1 0.95 1.19  
        328 330 2 1.90 0.90  
VL-21-1051 13770E 347 -77 86 89 3 2.85 1.14  
        108 114 6 5.70 0.83  
        134 138 4 3.80 0.84  
        230 231 1 0.95 1.16  
VL-21-1052 14540E 346 -77 25 26 1 0.90 1.20  
        35 38 3 2.70 1.42  
        94 106 12 10.80 1.03  
        111 124 13 11.70 2.51  
Including       122 123 1 0.90 25.33  
        143 150 7 6.30 0.91  
        172 175 3 2.70 0.96  
        248 249 1 0.90 0.95  
        264 265 1 0.90 1.75  

 

Notes on the Calculation of Assay Intervals

  1. “Significant” assay intervals are defined as 1m core length or more of mineralization with an average fire assay result of greater than 0.7 g/t Au, representing the bottom cut-off for high-grade mill feed in the Marathon April 2021 Feasibility Study mine plan. Assay intervals with an average fire assay result of between 0.3 g/t Au and 0.7 g/t Au are above the cut-off used in the April 2021 Mineral Resource Estimate for the Berry Deposit but are not considered “significant” for the purposes of this news release.
  2. Cut gold grades are calculated at 30 g/t Au.
  3. No significant assays were returned in drill holes VL-21-1049 and VL-21-1053

 

Figure 4: Cross Section 14285E (View NE) with Significant (>0.7 g/t Au) Intercepts, Berry Deposit, Valentine Gold Project.

https://www.globenewswire.com/NewsRoom/AttachmentNg/6abe8c49-0def-4eb0-a2ee-92d9a00aaa2f

 

Figure 5: Cross Section 14285E (View NE) with all Fire Assay Data, Berry Deposit, Valentine Gold Project.

https://www.globenewswire.com/NewsRoom/AttachmentNg/aef95d38-006a-4df8-97d4-db5fe602be5b

 

Qualified Person

 

Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Nicholas Capps, P.Geo. (NL), Manager of Exploration for Marathon Gold Corporation. Exploration data quality assurance and control for Marathon is under the supervision of Jessica Borysenko, P.Geo (NL), GIS Manager for Marathon Gold Corporation. Both Mr. Capps and Ms. Borysenko are qualified persons under National Instrument 43-101.

 

Quality Assurance-Quality Control

 

QA/QC protocols followed at the Valentine Gold Project include 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, NL. All reported core samples are analyzed for Au by fire assay (30g) with AA finish. All samples above 0.30 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 – 95% of core length), and reported with and without a top-cut of 30 g/t Au applied.

 

Posted September 28, 2021

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