Mr. Phillip Walford reports
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 Corp. has intersected a very wide, continuous interval of gold mineralization at open-pit depths within the northeast end of the main mineralized corridor of the Marathon deposit. Drill hole MA-18-303 was very successful in intersecting high-grade gold intervals within en echelon stacked QTP veining including 1.54 grams per tonne gold over 149.0 metres with 6.60 g/t Au over 5.0 m, 6.35 g/t Au over 6.0 m and 4.86 g/t Au over 6.0 m, as well as 1.47 g/t Au over 10 m (including 8.08 g/t Au over one m) and 6.54 g/t Au over 3.0 m. This drill hole was part of the current continuing 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 chief executive officer of Marathon Gold. "The infill program is going very well to upgrade the resources in advance of the prefeasibility study. We are also drilling to reduce the strip ratios of the current resource pits and seeking new pit resources at Victory Southwest to build on the economic model from the very positive PEA released May 17, 2018."
SIGNIFICANT ASSAY INTERVALS, MARATHON DEPOSIT, VALENTINE LAKE GOLD CAMP
Hole From (m) To (m) Core length (m) True thickness (m) Gold (g/t) Gold (g/t, cut)*
MA-18-303 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 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 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 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 84 87 3 2.9 1.43
485 488 3 2.9 4.68
MA-18-298 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.
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, MSc, PGeo, senior vice-president 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 Ltd. in Springdale, Nfld. All reported core samples are analyzed for Au by fire assay (30 grams) 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 the table as core lengths and estimated true thickness (90 to 95 per cent of core length).
About Marathon
Gold Corp.
Marathon Gold is a high-quality growth-oriented gold development company with a long-term strategy of moving the 100-per-cent-owned Valentine Lake gold camp through to production in central Newfoundland. Marathon recently completed a positive preliminary economic assessment that shows an average annual production of 188,500 ounces per year over the first 10 years, payback of 2.8 years, net present value (5 per cent) of $367-million (U.S.) and an internal rate of return of 25.3 per cent, all after tax. The Valentine Lake gold camp currently hosts four near-surface, mainly pit-shell-constrained deposits with measured and indicated resources totalling 2,137,100 ounces of gold at 1.99 g/t and inferred resources totalling 1,104,800 oz of gold at 1.99 g/t.
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